The inner experience of fallure is totally different than failure. Going to fallure means 100% commitment - you leave nothing in reserve, no mental or physical resource untapped, you never give yourself a psychological out. Failure means making a decision to let go, to be less than 100% committed, when confronted by fear, pain and uncertainty.

Level 5 leaders channel their ego needs away from themselves and into the larger goal of building a great company. It's not that Level 5 leaders have no ego or self-interest. Indeed, they are incredibly ambitious-but their ambition is first and foremost for the institution, not themselves.

How can we do better tomorrow than we did today?

Genius of AND. Embrace both extremes on a number of dimensions at the same time. Instead of choosing a OR B, figure out how to have A AND B-purpose AND profit, continuity AND change, freedom AND responsibility, etc.

The difference between a good leader and a great leader is humility.

If we only have great companies, we will merely have a prosperous society, not a great one. Economic growth and power are the means, not the definition, of a great nation.

Level 5 leaders are differentiated from other levels of leaders in that they have a wonderful blend of personal humility combined with extraordinary professional will. Understand that they are very ambitious; but their ambition, first and foremost, is for the company's success. They realize that the most important step they must make to become a Level 5 leader is to subjugate their ego to the company's performance. When asked for interviews, these leaders will agree only if it's about the company and not about them.