#152: Walt Rakowich - CEO of Prologis & Author of #Transfluence
Apr 28, 2021
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Walt Rakowich, former CEO of Prologis and leadership speaker, shares insights from his career and his book, 'Transfluence'. He delves into how family values shaped his leadership style, emphasizing resilience and collaboration. The discussion includes the evolving real estate landscape post-pandemic and the importance of moral quotient in effective leadership. Walt advocates for patience and humility as key traits for success, highlighting how gratitude can transform both personal and professional relationships.
Transformative influence in leadership focuses on uplifting others and fostering positive impact rather than seeking personal accolades.
Embracing humility and vulnerability allows leaders to effectively navigate challenges by encouraging collaboration and listening to their teams.
Deep dives
Transformative Influence in Leadership
Leadership is fundamentally about transformative influence rather than personal success. The concept emphasizes the importance of positively impacting the lives of those being led, which is central to effective leadership. This resonates throughout Walt Rakovich's career, from his experiences at Prologis—where he helped turn the company around during a crisis—to his ongoing work with various boards and youth programs. His book 'Transfluence' encapsulates this idea, encouraging leaders to focus on how they inspire and uplift others rather than seeking personal accolades.
The Importance of Humility and Vulnerability
Rakovich highlights humility and vulnerability as crucial qualities in effective leadership. In a defining moment in his career, he faced the challenge of taking over a struggling company amidst organizational dysfunction. His willingness to admit uncertainty and seek input from his team ultimately facilitated a successful turnaround. This experience taught him that true leadership often involves listening to others and embracing a collaborative approach, rather than attempting to have all the answers.
Building Strong Values Through Upbringing
Rakovich attributes much of his leadership style to the values instilled in him by his family. Growing up in a loving household where parents taught the importance of respect and kindness shaped his approach to leadership and interpersonal relationships. He stresses that observing his parents' actions had a profound impact on how he chooses to treat others today, emphasizing the significance of the golden rule in professional environments. This foundational belief in valuing people underpins his leadership philosophy and daily interactions.
Crisis as an Opportunity for Resilience
Rakovich views adversity not as a setback but as an opportunity for growth and resilience. His tenure at Prologis is marked by significant challenges, particularly during the 2008 financial crisis, which tested his leadership and perseverance. By embracing the difficulties and fostering a culture of transparency and support among his team, he successfully navigated the company through turbulent times. This experience reinforced his belief that resilience is essential for personal and organizational success, turning challenges into opportunities for improvement.
Walt Rakowich is a leadership speaker, former CEO of Prologis, a global real estate company that is the world’s largest owner of industrial distribution facilities, and author of Transfluence: How To Lead With Transformative Influence In Today’s Climates Of Change. He works with several nonprofits, serves on the board of directors of Host Hotels and Resorts, Iron Mountain, Inc., and Ventas Inc., and is on the board of trustees of The Pennsylvania State University. He earned an undergraduate degree from Penn State University and an MBA from Harvard Business School. Learn more at his website, www.waltrakowich.com, and follow him on Twitter, Instagram, and LinkedIn at @waltrakowich.