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 Today's advice comes from former Goodyear CEO Bob Keegan's interview with the Wall Street Journal: "You have to have courage to not talk about what should be done but make decisions and live with the results. Many talented people don’t do that very well." Keegan's tenure at Goodyear, from 2003 to 2010, yielded a marked turnaround for the tire company, which began to again post profits after years on the decline. Now at a private equity firm, Friedman, Fleischer & Lowe, Keegan says many of the techniques he used to spur Goodyear's turnaround still apply. Chiefly, Keegan says, business leaders must set aspirational goals instead of getting bogged down thinking about barriers, which can be especially easy to do in a tough economy. Good leaders will keep their teams inching toward those desired outcomes, making the decisions necessary to get there. And before even getting to that point, he says, a successful company needs a leader who is unafraid to pull the proverbial trigger on those decisions. Follow through with efforts to move toward achieving goals, and be prepared to confidently react to whatever the outcome is, even if that means refocusing and trying a new strategy. Want your business advice featured in Instant MBA? Submit your tips to tipoftheday@businessinsider.com. Be sure to include your name, your job title, and a photo of yourself in your email. Please follow War Room on Twitter and Facebook. | | | | | | | |
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