What are the 3 P's of leadership?

The biggest insight for me is that the very best leaders are able to combine all three qualities—purpose, passion and persistence—day in and day out.

linkedin.com - 3 Ps of Leadership: Purpose, passion and persistence - LinkedIn

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Promotion

Three key attributes of remarkable leaders

Years ago, we learned that price, place and promotion are the 3 Ps core to market success. But what if all this time we’ve been focusing on the wrong Ps?

Over the past 20 years, I’ve had the privilege of working with some remarkable leaders in the financial services sector. Whether in the US, Europe, Asia Pacific, or here at home in Canada, this group of unique leaders stand out for their tremendous impact on business and people. As we enter the age of transformation, with technological advancements rapidly accelerating the pace of change, I thought it timely to share what I’ve observed and learned from these remarkable people. The big takeaway? Leaders of truly innovative businesses share three characteristics that elevate their work beyond conventional thinking and measures of impact. It makes me think that we need to redefine those original “Ps” (price, place and promotion) to three new ones.

Have a purpose

The first thing that stands out in working with some of the best leaders around the world is their sense of purpose. They have a clear-eyed view of why they do what they do, with a North Star that guides them in all of their actions and interactions. They want to make a difference and this sense of purpose is evident in their authenticity. For example, I have worked with executives who have a relentless focus on supporting the financial needs of their customers; they come to life when they engage with their clients. Others are obsessed with improving the effectiveness of their operations, reducing friction and pain points to create a compelling customer experience. Still others have a deep duty of care to their people; they want to engineer opportunities to help their people grow and stretch to their full potential. Whatever their purpose, these leaders are always adapting and learning – they’re curious and they consistently invest their energy to learn and innovate on the “how” – all underpinned by that clear sense of the “why” and the “what”.

Lead with passion

The second attribute of remarkable leaders is passion. They genuinely love what they do and their passion generates a real sense of enjoyment, engagement and caring. They also infect those around them with energy. We know these people because they’re the ones who inspire us through their personal examples. Their combination of purpose and passion make them a formidable force of energy. They set bold visions and motivate us to join their journey to a more desirable future state. And that energy tends to fuel passion in others, too; by aligning people while also drawing out and valuing diverse views, they unlock the potential and energy of their people and teams.

Be persistent

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Promotion

Finally, there’s a third ingredient to remarkable leaders which makes the journey possible and that’s persistence. Noted author and psychologist Angela Duckworth provides some compelling examples of persistence in her book, Grit. External events, resource and financial constraints, and competing agendas are common headwinds that challenge even the most purposeful and passionate of people. The best leaders approach these challenges with steely-eyed determination, knowing that nothing of consequence can be accomplished without hard work and effort. In the face of adversity, disruption and technological change, it’s persistence that keeps these leaders moving forward. The biggest insight for me is that the very best leaders are able to combine all three qualities—purpose, passion and persistence—day in and day out. This allows them to make transformations come to life in a way that creates value for their customers, staff and shareholders. They set ambitious goals, and define them with clear outcomes. Then they zero in on the decisions that drive impact, on the partnerships that unlock shared success, and the need to make decisions even when faced with uncertainty. These extraordinary leaders have also influenced the conversations I now have with my own children. Pursue something that gives you a deep sense of meaning and something you can look forward to doing every day. If you stick with it through thick and thin, good things will come your way. In an age where disruption is the norm, where convergence is blurring industry lines, and change is happening at a breathtaking pace, it should come as no surprise that new ideas and leadership styles are transforming the way we think and define business success. Yes, even those original Ps are due for a modern rethink. We’re fortunate to have a small group of remarkable leaders at the forefront whose courage in doing so inspires confidence. We need them now more than ever.