The Learning Leader Show With Ryan Hawk

Full show notes can be found at www.LearningLeader.com

Ep: #339: Robert Greifeld - Lessons Learned From A Decade Of Change As CEO Of NASDAQ

Robert Greifeld served as the CEO of Nasdaq from 2003 to 2016. During his tenure, Bob led Nasdaq through a series of complex, innovative acquisitions that extended the company's footprint from a single U.S. equity exchange to a global exchange and technology solutions provider, nearly quadrupling revenue, growing annual operating profits by more than 24 times and achieving a market value of over $11 billion. He is the author of a new book called: Market Mover: Lessons from a Decade of Change at Nasdaq.

Notes:

Commonalities of leaders who sustain excellence:
- "Once you achieve competency, they're on a daily battle with complacency."
- Always looking forward - never resting on laurels
- A mindset that: "Success in the past is no guarantee that success will happen in the future."
Self reflection is important for self awareness: "Being focused on the present doesn't preclude self reflection."
Has being rich made you happy? "Wealth makes you more secure?"
How to balance family time and work time?
- "Balance is a dangerous word. I prefer having an integrated life instead." "I made a rule that I did no business dinners unless I was doing the selling."
- Make multiple short trips instead of longer ones... Only miss seeing your family for a day or two at a time
Bob describes the story of how he was recruited to NASDAQ and why he took the job...
- During the interview process, he shared the five things he would do within the first 100 days:
  - Get right people on board
  - Reduce bureaucracy
  - Embrace fiscal discipline
  - Overhaul technology
  - Stop being satisfied with number 2
- Have to have the right people on the bus
  - Bob met with many people prior to starting as the CEO of NASDAQ: "I fired a lot of people before 8:00am on the first day I started. I did a lot of work prior to starting to learn who was going to buy in."
  - "Good morale in a bad organization is not a good thing."
With promotions, live by the 80/20 rule: "We tried to promote 80% from within our organization."
- "When interviewing people from the outside, the odds of being wrong are higher."
- Qualities to look for in people to promote:
  - Positive attitude/energy -- "Happy campers"
  - Pure skills
  - How well do they play with others?
  - Won't tolerate prima donnas
How to be a great leader?
- Must be in front of your customers
- Stand in the shoes of your people
- Do a lot of individual contributor work
- "Don't be a conference room pilot" -- Don't spend all your time in meetings
Learned knowledge vs. Lived knowledge
- Learned: "Don't know what's coming, you just learned it."
- Lived: "You've sat in the seat, you can see around corners."
Acquisitions:
- Geography - If location is near us, that helps
- Industry - If it's the same industry, just smaller, that helps
Overall advice:
- Never had a career path or end goal
- Wanted to do something that energized me
  - "I'll do that job well."
- "Don't focus on climbing the mythical career ladder."
- "Don't take a job to just get another job."
Why leave NASDAQ?
- "I like controlling my schedule."
The benefits of growing up with blue collar parents. His dad worked for the Post Office, he was always upbeat and believe that life can be better.

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