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Whether starting a new job, founding a company, or volunteering, you’ll boost your chances of success if you get a few things right, John Studzinski said.
The veteran financier and philanthropist, who published a book titled “A Talent For Giving” this month, shared with Business Insider four crucial lessons he’s learned during a career spanning five decades and stretching from Morgan Stanley to HSBC, Blackstone, and now Pimco as the bond giant’s vice chair.
1. Data, details, deadlines
Studzinski, 69, said he’s long told young people the importance of the “Three D’s”: data, details, and deadlines.
“You have to understand the numbers,” he said. “You have to understand the facts, the details. And you really need to be very good at deadlines, namely time management.”
Studzinski said that smartly managing his time has been key to reaching the highest echelons of Wall Street and the nonprofit sphere.
He added that a key aspect of allocating time well is ask whether to “do it yourself, collaborate or partner, or delegate.”
2. Persistence is a virtue
Studzinski said that “knocking” is an important skill, whether you’re an investment banker drumming up business or a volunteer fundraising for a charity.
Studzinski said that you may have to “knock on the door” 19 or 20 times before it opens, adding people need an “element of tenacity” to succeed.
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3. Keep your ego out of things
Focusing too much on your status or reputation can lead to costly mistakes, Studzinski said.
Studzinski added that egos drive “a lot of decisions,” and people need to ask themselves what’s driving their actions.
Whether you’re picking a path, choosing investments, or advising clients, “don’t do it based on your ego,” he said.
4. Trust is key
Whatever you’re trying to do, the person in front of you wants to feel they can trust you, Studzinski said, adding, “Trust is key.”
“We all take trust for granted, but it’s one of those things that takes years to build, it’s very fragile, and you can destroy it immediately,” he said.
Studzinski said his lifetime of giving has contributed to people perceiving him as ethical and trustworthy, which he said had helped in finance and philanthropy.
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