Steve Madden and Fearless Decision-making

For Inducted Members of The National Society of Leadership and Success (NSLS), nomination, selection, acceptance, and pre-induction requirements are part of the process. Nominees must complete pre-induction requirements within three weeks. The final phase is to view interviews by at least three prominent business leaders and write executive summaries. I chose shoe mogul Steve Madden as one of my leaders.

Mr. Madden shared his background, noting that he developed a love for shoes while working at a shoe store as a teenager. He designed shoes and sold them at the store. His meteoric rise was the result of hard work and enduring heartache, but that was not the emphasis of his story.

Becoming a Fearless Decision-maker

Mr. Madden spoke about the decision-making process as a CEO and discussed a product proposal he had to decide on. His C-Level staff gave a stirring presentation to introduce the launch of a new product and gain Mr. Madden’s approval. He gave the ‘GO”, which inspired everyone, and the process began the next day.

As Mr. Madden left his headquarters for the day, he was swept by a wave of emotions about his decision. As a shoe expert, his mind raced with several key indicators absent from the presentation, which he thought about all evening. He arrived at the office the next morning and informed the project lead to place the project on hold.

The project lead was confused and asked why, and Mr. Maddedn simply replied,

“Because I changed my mind.”

The lead was dissatisfied and was reminded whose name was on the shoes and the company. Mr. Madden stated he learned a powerful lesson from that experience:

“As a leader, never be afraid to change your mind.”

“Presentations are supposed to sound good and brief well, but can the plan withstand the scrutiny of the clear light of day?”

The CEO’s duty was to grow the company and deliver outstanding customer service to enhance shareholder value. Sometimes, making the best possible decision means changing your mind on a previous decision.

As a leader, are you willing to change your mind when necessary?

#change #changeyourmind #stevemadden #decision-making