5 secrets for success from the former CEO of a $12 billion company

“How did you get to where you are in your career?”

My interest in this question dates back 45 years to when I was an MBA student at Northwestern University’s Kellogg School of Management. Whenever corporate executives were guest speakers at our classes, I would listen intently as they described what contributed to their career advancement. In the same vein, as I speak with leaders today, I always make a point of asking them what they consider to be the main drivers of their success.

Over more than four decades, the two most common responses are: (1) “I worked hard” and (2) “I have several unique skill sets.” As I look back on my corporate career, including as chair and CEO of Baxter International, a $12 billion health care company, I agree with the importance of working hard and having unique skills. However, having engaged in the practice of self-reflection as the foundation of my values-based leadership, I know that far more than my own efforts and talents contributed to my success.

Five factors—luck, timing, team, mentors and sponsors, and faith/spirituality or mindfulness—account for much of what I have achieved. As executives and those who aspire to leadership reflect on their own careers, they will no doubt see the influence of these factors. The result is a shift in perspective that encourages gratitude, attracts support, and leads to more opportunities.

1. Luck

Without question, luck plays a part in every career, such as being in the right place and connecting with the right people who open doors. Over the years, I’ve heard executives attribute their early success to a “lucky break,” including insightful advice from a teacher, a first boss, or a mentor.

The same happened for me when I was an undergraduate student at Lawrence University. When I told one of my professors that I was considering a PhD in mathematics, he quickly offered a different opinion. “Harry, if you get a doctorate in mathematics, your work will be of most interest to a small group of colleagues. You’re so outgoing, why don’t you think about economics and pursuing a career in business? You’ll be able to influence so many more people.” If it hadn’t been for that advice, I am not sure what my career path would have looked like.

2. Timing

If luck is about being in the right place, then it only makes sense that it also has to be at the right time. One episode of fortunate timing occurred when I was an undergrad looking for a summer internship. I applied in-person at the First Bank of Minneapolis, where my application was put into a stack with about 150 others.

In a stroke of fortunate timing, a vice president at the bank walked by the reception desk. I introduced myself, explained that I was looking for an internship, and politely asked for five minutes to tell him more about myself.

Twenty minutes later, I landed the internship.

Timing also played a part later in my career, especially when I was first promoted. There were times when I replaced someone who had accomplished very little in the position. Therefore, only a small effort on my part made a huge difference in what I accomplished compared to my predecessor. The more I recognize the role luck and timing played in my career, the more it reinforces a sense of genuine humility, another of my principles of values-based leadership. It’s a reminder that success is not a reflection of being the smartest or the most gifted person in the room.

3. Team

I am very well aware of the fact that I have been blessed with great teams at every stage of my career. If I had not worked with these talented colleagues—people who knew what I didn’t know—there was no way I would have reached senior leadership positions, including chief financial officer (CFO) and then CEO and chair at Baxter. In fact, my team’s success directly contributed to my advancement.

For example, when I was one of eight VPs of finance at Baxter, there was an opening to become the next CFO. The other seven VPs had far more experience than I had. To my surprise, I was promoted. The reason? “Everybody wants to work for you, and so many people who are promoted throughout the company were trained by you,” I was told.

When I share this story with my students at Kellogg today, I do so as a reminder of the importance of creating an environment in which others want to work for you. It’s the best possible showcase of leadership.

4. Mentors and sponsors

The influence and encouragement of so many have made a huge difference in my life. As I look back, I remember the late Donald Jacobs, Dean of Kellogg, who encouraged me to think about the kind of impact I would like to make as a leader: “Do you want to be a very good finance person? Or do you want to be one of the people who helps run a company who happens to know a lot about finance?” I chose the latter, and it made all the difference in my career.

Another important mentor was William Graham, the long-time CEO of Baxter, who used to say, “Aren’t we blessed to do well by doing good?” He lived that philosophy and impressed upon me the importance of addressing the needs of all stakeholders, including customers, suppliers, shareholders, and even society.

5. Faith, spirituality, or mindfulness

This last factor is really number one for me, but I want to be sensitive to the thinking of others (especially when teaching in a secular university). For me, though, my faith reminds me that any talents or skills that I have are God-given gifts; therefore, I am responsible for using these gifts to the best of my ability. In other words, it’s not about me. Spirituality, mindfulness, or the practice of faith can help others see that, as they pursue success, it really is about making a difference for others. 

These five secrets to success apply to everyone at every level. Their importance becomes clearer with self-reflection, reminding us that our career advancement is not just about us. Rather, the success we achieve broadens our ability to influence and help others as they benefit from luck, timing, teams, mentors, and a spiritual/mindful perspective.

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