The law of E. F. Hutton

(In the 2008 eddition it´s called: The law of Addition)

Leaders Add Value by Serving Others

(DAY 5 – The 21 Day Leadership Challenge)

This law is taken from the old commercials “When E. F. Hutton speaks, people listen”. Find someone who’s a stronger leader than you are. Now just listen.

Dig into it:

  • Adding Profits by Adding Value – Costco’s CEO, Jim Sinegal, believes the success of Costco comes from treating his employees well.

* Costco employees are paid an average of 42% more than the company’s chief rival and they also receive generous health care coverage.

* Sinegal shows he cares and respects his employees – he has an open-door policy. He is on a first-name basis with everyone.

* Sinegal’s salary is well below what other CEO’s of similar size company’s make because he is more focused on serving his employees than making an exorbitant salary.

* The result: Costco has by far the lowest employee turnover rate in all of retailing.

  • The bottom line in leadership isn’t how far we advance ourselves but how far we advance others.
  • There is one critical question: Are you making things better for the people who follow you?

* If you can’t answer with an unhesitant yes, then you likely aren’t.

* 90% of all people who add value to others do so intentionally. Why do I say that? Because human beings are naturally selfish. Being an adder requires me to think about adding value to others.

  • Adding Value, Changing Lives – four guidelines for adding value to others.

1. Truly Value Others – effective leaders go beyond not harming others, they intentionally help others. They must value people and demonstrate they care in such a way that their followers know it.

2. Make Yourself More Valuable To Others – the more intentionally you have been in growing personally, the more you have to offer your followers.

3. Know and Relate to What Others Value – this can only come by listening to your people’s stories, their hopes and dreams. Learn what is valuable to them and then lead based on what you’ve learned.

4. Do Things That God Values – God desires us not only to treat people with respect, but also to actively reach out to them and serve them.

  • The attitude of the leader affects the atmosphere of the office. If you desire to add value by serving others, you will become a better leader. And your people will achieve more, develop more loyalty, and have a better time getting things done than you ever thought possible. That’s the power of the Law of Addition.

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