Ego vs. Respect: What Builds Great Leadership Teams

A note to young leaders.

Is your leadership team a “meeting of the minds” or a “meeting of the egos”?

Business is quintessentially a team sport. It’s far more interesting, more rewarding and more fun when it’s done with others. Provided of course that you all get along, especially at the top.

Two things are critical for an enduring, productive relationship: mutual respect for each others’ strengths and lots of gentle humour.

Berkshire Hathaway is a case in point.

Listen to what the great Warren Buffet said in 2014 about his equally formidable partner, the late Charlie Munger:

“Charlie and I have never had an argument. We’ve disagreed on a lot of things but it’s just never led, and never will, lead to an argument.”

Buffett said on the rare occasions when their differences could not be resolved through discussion, Munger would end their meeting by saying: “Well, you’ll end up agreeing with me Warren, because you’re smart and I am right.” They would always part laughing.

Their 60-year friendship went on to transform Berkshire Hathaway from a small textile mill into a USD 780 billion investment conglomerate.