How to Fill a Predecessor's Big Shoes

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With Xerox's organization imploding, Mulcahy rallied her troops around "restoring Xerox to a great company" (BusinessWeek.com, 3/4/08). As she endured incredible pressure from bankers, shareholders, and the Securities & Exchange Commission, former CEO David Kearns asked her, "Do you believe those lies about you in the media?" "No, David," she replied calmly. "Good," he said. "Then don't believe it either when they call you the savior of Xerox." In spite of Xerox's remarkable recovery, Mulcahy has never lost her humility.

Lessons from Leaders

In interviews with 125 business and nonprofit leaders for True North, Peter Sims and I learned from authentic leaders the importance of staying grounded and the many things leaders do to ensure they don't lose their way:

1. Be humble, and don't get caught up in the perquisites of your office. When I was CEO of Medtronic (MDT), one of the best things we did was to eliminate all officer perquisites.

2. Don't lose sight of your roots, and remember your life's most difficult times. We learn a lot more from our failures than our successes. Starbucks (SBUX) founder Howard Schultz still visits Bayview Housing Projects to show his daughter where he grew up in Brooklyn.

3. Build your support team, starting with your spouse, partner, or mentor. Throughout my career, my wife, Penny, has been invaluable as a counselor and supporter. So has my men's group that has met weekly for more than 30 years.

4. Focus on your intrinsic motivations—those things that provide you lasting meaning. Money, fame, and power will never bring you the satisfaction that making a difference in the world does.

5. Lead an integrated life: Be the same person at home, at work, and in your community. As JetBlue Airways (JBLU) founder David Neeleman said when he stepped aside as CEO, "Never lose sight that your family is what's most important."

6. No longer is leadership about getting people to follow you. To succeed as a leader in the 21st century, it is essential to recognize that leadership means serving the people on your team and empowering your team to lead.

Bill's bottom line: Staying grounded is the best way to keep focused on your True North.

George, professor of management practice at Harvard Business School, is the author of two best-selling books, True North and Authentic Leadership. He writes his "True North" column every other week at businessweek.com/managing/.