The Law of Addition says that “Leaders Add Value By Serving Others”
What do you do – as a part of your regular routine – to add value to others?
In the 21 Irrefutable Laws of Leadership, John Maxwell tells the story of Jim Sinegal – the co-founder and CEO of Costco. In a season of excess in the corporate leadership structure, Sinegal makes just $350K/year plus modest stock and bonuses. He does this because of his philosophy
“I just think that if you’re going to try to run an organization that’s very cost-conscious, then you can’t have those disparities. Having an individual who is making 100, 200 or 300 times more than the average person working on the floor is wrong…. This is not altruistic. This is good business.”
Quote from USA Today, 9/24/2004 “Costco Wins Loyalty With Bulky Margins”
Costco employees are paid on average 42% more than their competitors, and payer lower health care costs. Sinegal wears a name tag – just like every other employee, and he visits every store every year. He leads by showing people that he values them both emotionally and financially.
He cares about those people he leads, and it shows both emotionally and financially. This week, Costco reports double-digit increased sales, and strong results against BJ’s and Sam’s.
Making it a point to add to others is powerful – it inspires performance, it creates loyalty, it helps people have a better experience at work, which makes them better performers. It’s the engine that supercharges team performance.
- What are you doing to add value to those your team?
- How do you serve those who are “under” you, or who are your peers?
“The bottom line in leadership isn’t how far we advance ourselves, but how far we advance others.” John Maxwell
Adding value to others is a key part of “Raising Your Game”