What Matters Most: You or the Business You've Built?

When I ran my first company, I imagined that one of the great things about it would be that I was in charge. I wasn't alone in this: the single greatest motivator for entrepreneurs is our love of autonomy -- and that's also the only quality that meaningfully distinguishes us from corporate executives. I'd had thirteen very successful years working for a large corporation and now I wanted to turn the tables and other people to work for me.

And when I got started, that's what happened. When I asked what are policies were, the answer was: whatever you decide. You lead, we follow. Wow, I thought; this is cool!

Ten years later, I was running my third business and the going was tough. Investors were tricky, the market was challenging, my chairman was giving me a hard time. Talking to a fellow CEO on a plane one day, he asked me: Why do you keep going? Why don't you just quit? I didn't have a quick answer for him but, in the next few days, as I mulled over his question, I made a surprising discovery: I couldn't quit because I didn't want to disappoint the people working for me. They were a terrific bunch -- Russian, Chinese, Indian, gay, Jewish, young, old -- they were all smart, committed and ambition. How could I let them down?

With a shock I realized that the tables had turned: I thought they were working for me -- but now, truly, I was working for them. And I loved it.

Years later, I encountered the term 'servant leadership', a phrase coined by Robert Greenleaf. But it has only been in the last few years that I've understood how important it is and why it matters. During that period, I've found myself sitting on the board of two companies, each run by a charismatic leader and each floundering after an initial period of healthy growth. Bad hires, bad organizational structure, critically bad decisions. But what has really gone wrong? After mulling it over, I've concluded that doldrums these two companies fell into can be explained by the failure of the leader to think beyond his personal gain. When asked to make tough calls, each one has asked the question: what's best for me? What do I want? Who do I like? What they haven't done is ask : Who or what is best for the business?

It's an understandable mistake to make. After all, you go into business for yourself, the liabilities of the business are all be on your shoulders and you may still own the whole thing. It is probably your most valuable asset. But here's the rub: It's only when you stop thinking about yourself and start thinking about the organism you've created -- the company -- that the business truly takes off. It isn't about altruism. It's about being able to serve the larger, longer interests of your creation. Looking back, I can see that every successful entrepreneur I've known -- and I've interviewed hundreds -- has made the journey from 'what do I need?' to 'what does the business need?' Once you ask the right question, it's been so much easier to see the right answer.

Are you there yet?