Aug 26, 2020
Joel Peterson is the chairman of JetBlue Airways, and has a
long history of successful growth capital investments in a variety
of industries. He currently teaches Entrepreneurial Management at
Stanford’s Graduate School of Business, and serves as a Director of
Franklin Covey. He holds an MBA from Harvard Business School. Joel
is the author of Entrepreneurial
Leadership: The
Art of Launching New Ventures, Inspiring Others, and Running
Stuff, and
The 10
Laws of Trust:
Building the Bonds that Make a Business
Great.
Key Takeaways
[2:10] Joel has 7 kids and 28
grandkids. He had to get good at time management as well as people
management!
[4:00] It’s important to fire
people with empathy. Just because they no longer fit your
organization’s needs doesn’t mean they’re still not great
people.
[8:20] Sales is incredibly vital
to an organization, but the way people buy today is completely
different than 20-plus years ago, and for that, we also need to be
adapting and changing our sales strategies.
[10:25] Trust is the most
powerful currency you have, but in order to have trust, the other
person must feel like you have their best interests in mind and
you’re not just looking out for yourself.
[12:20] Love sounds like it
shouldn’t be part of a business book or dialogue, but truly, if you
have love for other people, it is an unlimited resource that will
never be exhausted.
[17:40] It’s more important than
ever for people to have a personal brand and to also best balance
that with the interests of a company but this is not a new concept.
People have always had an interest in protecting their
reputations.
[20:55] Trust has become a very
precious commodity because it’s so easy to violate it.
[23:45] The best way to build
trust is to trust people one event or one promise at a
time.
[27:30] It’s a cop-out to repeat
patterns that no longer serve you and blame it on how you were
raised. You can change your patterns and rewrite
upbringing.
[30:30] Embrace the hardship in
your life. It will be one of your best lessons.
[33:35] Joel believes if you
don’t have adversity in your life, you end up creating your own
trouble. To counter that, Joel believes reading biographies can
help center you in a world that’s otherwise pretty good, pretty
positive, and low in conflict.
[38:10] Listener challenge: Be
intentional with your life.
Quotable Quotes
- “In a
dynamic business, you are going to outgrow people and people are
going to change. Like a coach, you want the very best on your field
and you need to do that in a good way.”
- “None
of us like to be sold, but we do like to buy something. Once you
realize that, what you’re really doing is becoming a phenomenal
listener and solving problems.”
- “The
one resource that is never exhausted and can grow without bound is
love.”
- “You
can actually rewrite your upbringings. You can overwrite what you
inherited.”
- “Break it down, get it simple again. If it gets
simple again, you can execute. Being intentional and executing, you
become a high-trust person.”
Resources Mentioned
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