According to Google AI, a leadership legacy is the impact a leader has on their organization and industry, and the influence they leave on others. It’s shaped by a leader’s actions, decisions and interactions, and can take many forms.
Further, it is defined not only by the accomplishments and vision a person leaves behind but also by how one conducts oneself as a leader in the decisions made every day.
In essence it is leading with the end in mind. A rare viewpoint in today’s environment of short-term valuations and immediate gratification.
Andrew Carnegie exemplifies this concept. Immigrating from Scotland at the age of 12, his immediate family had fallen upon hard times in the homeland and had to borrow money for the trip. We know the story. After many years of hard work, he became one of the wealthiest Americans in history, primarily via the development of the steel industry in this burgeoning country.
In 1901, Carnegie sold his business to fellow steelmaker and financier J.P. Morgan, making him the richest man in the world at that time, with a net worth in today’s dollars of an estimated at $372 billion. Ranking him the 9th wealthiest person who ever lived. An astounding achievement indeed!
For comparison, Elon Musk is currently worth $258 billion, Jeff Bezos is worth $216 billion, Mark Zuckerberg is worth $187 billion and Bill Gates, $158 billion.
Along the way, in 1889 Carnegie wrote an article simply titled, “Wealth” (later becoming known as “The Gospel of Wealth”) in which he put forth his beliefs on the preferred structure of life for anyone seeking success.
At the risk of oversimplification, he espoused that a person should divide their life into three parts. This became known informally as the “Andrew Carnegie Dictum” which states that those who desire true success should dedicate their life as follows:
— To spend the first third of one’s life gaining all the education one can.
— To spend the next third making all the money one can.
— To spend the last third giving it all away for worthwhile causes.
Carnegie not only talked the talk—he walked the walk. For the last 19 years of his life, he endowed more libraries and educational institutions than any individual before or since. Over 3,000 libraries, as well as numerous universities and foundations that still thrive today.
By his passing in 1920, he had given away a whopping 99.99% of his accumulated wealth, turning $372 billion into a mere $30 million. Leaving that sum and two houses to his wife and daughter.
While this may seem a harsh infliction, by any comparison the remaining wealth was still a lot of money. An amount he felt that, if managed properly, could be rebuilt into a considerable sum and family philanthropy could begin all over again. He hoped to set in place a legacy cycle that would repeat itself in future generations.
Regardless of the frequently negative narratives on the great industrialists of the early 20th century, Carnegie exemplified the belief that finishing well held greater meaning than simply the money one accumulates. The legacy of leadership is this principle of teaching those who come behind how to be successful.
One important philosophical point must not be overlooked. Carnegie’s frequent message was “You cannot push anyone up the ladder unless they are willing to climb themselves.” Any person on a success journey will only continue forward so far as they are internally motivated to do so.
Taking someone who lacks motivation, and simply plying them with money is enablement, not assistance. Their upward trajectory will continue only for as long as the funds last. Resulting not in a success journey, but a passenger ticket on a bus.
As leaders in the real estate industry today, with all the current changes, we find ourselves in a similar quandary as Carnegie: the challenge of creating pathways of success for those who currently surround us and those who come behind us. Truths for any business in any industry whenever conditions change unexpectedly. Yet many in this industry have lost sight of that challenge.
The common reaction is to offer more classes, increase agent splits, add additional services, and in some cases, offer free car washes. All with the well-meaning intent of smoothing the blowback from the changes. Yet the fundamental question to address is how do we “push anyone up a ladder” if they are not internally committed to climbing it themselves?
This attitude differentiation among the single practitioner is what will determine success or failure. The candidate MUST be internally motivated, or nothing leadership throws at them will stick. No matter how much we wish for it. Leaders simply cannot force internal motivation. We can only help those who sincerely lean in to learn how to navigate change. Those practitioners who refuse to do so, or who continue to deny reality, will eventually self-eliminate. Sadly, not before adding to the abundant confusion already existing.
Creating a legacy of leadership means providing every possible “ladder” for anyone who has the desire to climb. It means setting the mechanisms in place to allow anyone who truly wants progress to find a clear path, and eliminating the shiny objects that are cute, but non-contributory to forward motion. It does not mean throwing people against the ladder hoping enough of them will stick long enough to secure next year’s dues revenue. This harms them, and it harms the consumer.
A legacy of leadership means, in the words of Dr. Stephen R. Covey, we must “begin with the end in mind.” To focus on and determine the ultimately desired outcome. Then to work backward from there to create a path of success for those who follow.
This is our singular responsibility as business leaders. Fail in this task, and we have failed in leadership. Succeed in this task and we have set in place magnificent success for those who are beside us and who come behind us.
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