Nigel Morris attributes his success to insatiable curiosity and challenging conventional wisdom in business.
Morris emphasizes the importance of failing fast, learning quickly from mistakes, and embracing a test-and-learn approach in business.
Managing ambition is a challenge for Morris, as he grapples with imposter syndrome and strives to achieve personal well-being alongside business success.
Deep dives
Overview of the F-word mini-series
The podcast is part of the How to Fail mini-series dedicated to understanding failure, personal growth, and becoming our truest selves. The F-word mini-series explores three different F-words: feelings, friendships, and fuel. The episode features interviews with Nigel Morris, co-founder of Capital One, addiction and trauma expert, and a How to Fail favorite discussing ambition, motivation, and the power of friendship.
Nigel Morris's journey and connection to psychology
Nigel Morris, co-founder of Capital One, shares his journey from a modest background to creating a billion-dollar company. He attributes his success to his insatiable curiosity and his passion for challenging conventional wisdom. Morris discusses his interest in clinical psychology and how it shaped his approach to business, emphasizing the importance of empirical evidence and experimental design in decision-making.
Learning from failure in business
Morris reflects on the concept of failure in business and its different impact compared to personal failures. He highlights the importance of failing fast and small, learning quickly from mistakes, and managing risk. Morris emphasizes the need to test and learn in business, challenging the status quo and being willing to make mistakes in order to drive growth and success.
Rediscovering Welshness and cultural identity
Morris shares his personal journey of reconnecting with his Welsh heritage and embracing his cultural identity. He discusses the challenges of belonging when you do not fit the traditional mold and the importance of celebrating and preserving Welsh culture. Morris reflects on his love-hate relationship with his Welshness and his recent investments in preserving Welsh heritage, including the purchase of a church and investment in a Welsh football team.
Managing ambition and the quest for personal fulfillment
Morris candidly discusses the challenge of managing his own ambition. Despite his tremendous success, he admits to struggling with feelings of imposter syndrome and an insatiable drive to achieve more. He acknowledges the need to balance ambition with personal well-being and reflects on the ongoing journey of finding purpose and fulfillment in life beyond business success.
Welcome to The How To Fail F-Word miniseries! Three days, three guests, three different F-words. Today, we have Nigel Morris...on fuel.
Nigel Morris is the definition of a self-made man: born in Essex, the son of an army sergeant father and a Welsh mother, he left school at 15 before going on to co-found one of the biggest banks in the world, Capital One. How did he do it? What motivates him? How does he manage his ambition? A slightly different How To Fail episode from usual, but perhaps an even more interesting one because of it. We don't get that many business people offering to share their failures in such an open way and I'm very grateful to Nigel for doing so.
This episode was recorded in front of a live audience at an annual event hosted by Clearscore, the free credit score app. Full disclosure: Clearscore is my husband's company. I was not paid a fee so this is not a branded episode (but they're really good fyi).
--
How To Fail With Elizabeth Day is hosted and produced by Elizabeth Day. To contact us, email howtofailpod@gmail.com