F1 Principal Toto Wolff on why skills and grit are the true currency at work
Sep 26, 2023
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Toto Wolff, F1 legend and Team Principal & CEO of Mercedes-AMG Petronas F1 Team, discusses his transition to finance, the importance of skills over passion, and strategies for identifying and leveraging transferable skills. Communication coach Jodi Glickman shares insights on career progression and self-awareness.
Adaptability and continuously learning new skills are essential in navigating a non-linear career path.
Transferable skills play a crucial role in successfully pivoting careers and staying ahead in the job market.
Deep dives
Toto Wolf's Career Path and Personal Challenges
Toto Wo, the CEO and team principal of Mercedes Formula One, shares his career journey, which involved personal challenges and career pivots. From a young age, Toto wanted to become a pilot, but his character and interests evolved over time. After a friend introduced him to racing, Toto found his passion and embarked on a career as a race car driver. Despite facing financial limitations, Toto raised sponsorship to buy a racing car and compete in junior formula racing. However, due to a lack of support and opportunities, he shifted gears and entered the banking sector. Toto's interest and curiosity led him to learn about banking and steel manufacturing. He then started his own consulting company and ventured into tech-focused venture capitalism during the dot-com era. Toto's story highlights the importance of learning new skills, adaptability, and following one's intuition in navigating a non-linear career path.
Leveraging Skills and Pivoting in Your Career
Jodi Glickman, CEO and founder of Great on the Job, emphasizes the significance of skills and grit in career success. Glickman suggests focusing on three career goalposts: learning, earning, and contributing. She advises individuals to continuously learn new skills, earn a living, and find a sense of purpose and contribution in their work. Glickman also discusses the concept of transferable skills, which transcend job titles and can be applied to different industries. She encourages individuals to reflect on their skills, interests, and what brings them energy to identify transferable skills and successfully pivot in their careers. Glickman's insights underscore the value of skills and adaptability in staying ahead of changes in the job market.
Toto Wolf's Non-Linear Career Path and Career Advice
Toto Wolf's career journey defies a traditional linear path, with various opportunities and pivots along the way. Despite not having a master plan, Toto embraced each opportunity and listened to his intuition. From investing in a motorsport company to unexpectedly becoming the co-owner and team principal of Mercedes Formula One, Toto's story highlights the importance of seizing opportunities and being open to change. His career advice emphasizes the significance of following one's interests, learning from diverse experiences, and not pressuring oneself to find a passion or purpose early on. Toto's story serves as a reminder that career paths can be non-linear, and success can be achieved by staying adaptable and continuously learning.
Before Toto Wolff was known as a Formula 1 legend, the Austrian businessman spent years steering through different jobs and passions – banking, manufacturing, racing, and venture capital, until he finally landed his current role as Team Principal & CEO of the Mercedes-AMG Petronas F1 Team. Toto talks with Ryan about why the transition to finance made him miserable at first, how to get new skills, and why young professionals shouldn’t try to chase passion right away. Then, author and communication coach Jodi Glickman, shares strategies for identifying your own skills, and deciding which of them are transferrable to a new job or industry.