It is easy to become arrogant when success is achieved, or an important goal is reached. “Keeping a humble heart” reminds us that any accomplishment we achieve is a “spit in the ocean” of what is left to do. We can always improve upon anything we achieve. Modesty is the key to keeping a company and its associates from being too self absorbed and losing sight of others’ ideas and contributions. It is hard to keep an open mind when one lacks modesty. We miss numerous good ideas, opportunities and great experiences each day, because we are mostly concerned with ourselves.

Keeping a humble heart leads to maintaining an open mind. It is not easy to keep an open mind. We are so trained and developed about what is, what should be, and we have the answers to most questions before they are even asked. Therefore, we miss many exciting things right around us every day. My experience, however, is that those who keep an open mind come up with the most creative solutions, have the most fun, and turn risks into successes more often. These people have learned the secret of “collective wisdom”. Openness to others, and looking for non-traditional thinking is one of the healthiest attributes a person can possess. At my companies we valued good listening as the most important personal skill an associate can have, a skill that is a key in determining who advances. We were given two ears and one mouth for a reason.

It takes much self-assuredness to allow oneself to be exposed to others, allow the “unaskable” to be asked and the “unquestionable” to be questioned. When it happens, we usually find out how much we didn’t know and how much fun it can be to think “way out of the box”. Consulting people from other disciplines with differing viewpoints uses the best of collective wisdom in solving problems.

Creating a company with an open mind means making sure everyone knows that he/she can change any thing at any time. If it is not working – don’t complain about it – change it. This principle applies to any part of the company. Of course, an associate has to check it out with their fellow associates so they don’t cause problems for others. If it is constructive – and the rest of the team agrees - just do it. And by the way – the culture should be one that doesn’t take sixteen meetings and fourteen memos to get it reviewed and implemented. Put the authority in the hands of the associates that have the ideas or are dealing with the problem.

Using collective wisdom also requires a harmony within the company and with its external partners, vendors and customers. This harmony means that the associates should be comfortable calling upon other departments, disciplines and outsiders to discuss their ideas, problem, or needs. By practicing collective wisdom one creates a harmony that brings together the components.

Making an important cultural principle work in a company means it has to start at the top. At my companies, I meet with groups of six of my associates over breakfast several times during the year. These breakfasts begin with our introducing each other in the group. The only message I bring to breakfast is, “you can change anything here at anytime, so don’t complain if it’s not working – change it. I do not know what to do – you do”. During the remainder of breakfast, the associates are allowed to ask anything – and they get straight answers to their questions. I listen. These breakfast meetings have been one of the greatest sources of improving my companies in small and big ways. Below are just a few of the changes that we have made at my companies:

• We moved our monthly “all associates” meeting to the first thing in the morning, after the suggestion to do so at one of our breakfast meetings. Our midday meeting was causing people to inconveniently start and stop work, and they were losing precious time commuting to the meeting. This change was the associates’ idea, and their suggestion made good sense. Top management often does not know what problems they cause – which is a very good reason to listen.
• I became aware, during one breakfast, of how poorly one of our top managers communicated and worked with his team. The issue would have taken me much longer to discover, if I had not had breakfast with the associates that morning. The associates were frustrated and were trying to resolve the problem, however they needed help from above. By addressing this issue promptly, following the meeting, top management gained respect by stepping up to this thorny problem. It also spoke volumes to the associates about knowing that they could ask for help when they needed it. (PS: the top manager eventually was terminated, and a deserving person in our organization filled this important position).
• Several associates expressed a desire to be more active in our community. We let them start an activities committee to coordinate these efforts, and the Company supported their projects. As a result we participated in a program that helped cancer patients deal with their disease, established the first biotechnology industry-wide blood drive, and numerous other company and individual associate efforts. The cross-company relationships that have resulted from these associates’ ideas have been great for team building. Moreover, we all have felt Company pride in what we have accomplished, and feel good about being a better corporate citizen.
• At one breakfast, an associate was talking about his scientific formulation project. Another associate from a separate part of our company stated that she had experience in the area, and knew a lot about that type of project. The result – the first associate received unexpected advice and help, which allowed him to substantially improve his formulation project, and more expediently solve some of the tougher problems he faced. I am amazed at how much we don’t know about each other – another reason to listen and keep an open mind.

When a company is successful and grows in size, this can breed arrogance among associates. To help prevent individuals or groups from behaving in parochial ways, it is critical to practice “collective wisdom” and encourage others to do the same. This means making decisions after input has been given from anyone who should have a say. This is not to say that decisions at the company are a 51 percent democracy, they aren’t. Decisions will be made after receiving input so that they are well informed and focused on the company’s mission.

A humble person will not become reckless or arrogant. A person with a humble heart will genuinely listen to others, pay attention to the mission of the Company and do what is right.

One of the most important things is to have an open mind. One should not act only upon their own knowledge. Regardless of whom the other person is you will acquire unexpected knowledge if you listen with a modest attitude, expecting to learn something.

Lifelong learning is also closely associated with humility, an open mind, and willingness to take risks a capacity to listen, and host self-reflection.

There are several other principles that could be mentioned for building a great team. I believe, however, that the principle of “Keeping a Humble Heart and An Open Mind” is the most important. From it come our team culture and the attitude upon which my companies have been built. This simple principle stimulates creative problem solving, more fun at work, higher ownership of results and superior accomplishment.

Larry G. Stambaugh is a principal at Apercu Consulting where he serves as an advisor to private and public boards and management. He presently serves on the boards of Elixir Industries, Precision Human Biolaboratories, BioCom and the Corporate Directors Forum.

During his more than 35-year career Mr. Stambaugh has faced and solved many of the toughest business problems that can challenge a company. As a top executive his visionary leader has built management teams and companies around “A humble heart and an open mind”.

He has led the turnaround of organizations through setting strategic initiatives with the board and management for new directions and priorities. His well developed process has effectively guided the board and management to realistically access their strengths and weakness and direct the organization into new businesses and discontinue under-performing activities and business units.

Mr. Stambaugh has raised nearly $400 million of capital in private and public financing. He has taken a company public in both the U.S. and Europe. In times of weak financing markets he has found creative alternatives for financing including, PIPE transactions, syndicated bank loans, reverse mergers, corporate collaborations and private equity funding.

Well ahead of his time, Mr. Stambaugh has had a focus on board activities and corporate governance practices for nearly three decades. He has more than 75 years of board service and speaks on the best practices and current issues in corporate governance. In 2002, 2006 and again in 2007 he was awarded the “Director of the Year” recognition for his work in corporate governance leadership and education. He has worked with numerous boards and their directors to make the board a strategic asset of the company and improve the working relationship between management and the board. Mr. Stambaugh founded and leads one of the most highly acclaimed national corporate governance meetings each year.

He was recently the Chief Executive Officer and President of Calando Pharmaceuticals, a biotechnology company working in the field of nanotechnology and messenger RNA on innovative treatments for cancer and other diseases. He was the former Chairman, CEO and co-founder for Maxim Pharmaceuticals, Inc. At Maxim he established a public, global biopharmaceutical company with a pipeline of product candidates for life-threatening cancers and liver diseases. He merged Maxim with an East Coast biotech company in 2006. Previously, he was the Chairman, President and CEO for ABC Laboratories, a world-leading environmental research laboratory serving Fortune 100 pharmaceutical and chemical companies. Mr. Stambaugh has worked as a top executive in banking, manufacturing, retail and began his career at KPMG. He has a B.B.A. from Washburn University and is a C.P.A. He is married to Pamela Stambaugh and has five children and four grandchildren.