Summary of Jim Dunlop’s leadership interview
- Leadership Mentor/Role Model: Jim was inspired by early bosses who had integrity and vision. He specifically mentions Connie Ya, who hired him for his first job and was admired for his leadership and sense of humor, and Roger Hendricks, who successfully led a large organization.
- Surprise About Leadership Role: He feels there haven’t been many surprises after 20 years in leadership, but he has realized that employees often hesitate to provide honest feedback, despite his openness.
- Biggest Leadership Lesson Learned: The importance of hiring the right people and the old adage, “slow to hire, quick to fire.” Having the wrong people can be devastating to a business.
- Best Leadership Decision: Hiring two key employees in recent years who have made a significant positive impact. He learned that being disciplined in hiring leads to great results.
- Worst Business Decision: Hiring too many people too quickly before the business was ready, which led to financial strain and ultimately having to let good employees go. He learned to grow a business until it’s breaking before hiring, rather than hiring in hopes of growing into it.
- Excitement About the Future of the Company: He is optimistic about growing the business and helping people make good financial decisions, leading them to a place of abundance where they can be generous with their wealth.
- Advice for Aspiring Entrepreneurs: Hire only when necessary and ensure you get the right people in the right positions. Don’t hesitate to let go of the wrong hires, as keeping them too long can harm the business.