A mere 7% of employees today fully understand their company's business strategies and what's expected of them in order to help achieve company goals.

Authenticity is critical to leadership. That means trying to be yourself - this involves some self-disclosure, admitting what you don't know and being willing to ask questions.

One reason leaders don't delegate is they haven't been sufficiently clear with the team regarding their vision and key priorities - so that the team understands where the firm is going. If everyone is on the same page, it's a lot easier to delegate effectively.

You're changing, the world is changing, and your hopes and aspirations are regularly being updated. That's why I say this is a life long struggle - for everybody.

Managing risk is very different from managing strategy. Risk management focuses on the negative-threats and failures rather than opportunities and successes.

Reaching your potential is a disciplined process. Like losing weight or getting in shape - there is no final destination and it requires you to dust off atrophied muscles. You have to work at it. If you do, I think you will dramatically improve your leadership.

Education has been critical. First at Kansas and then at Harvard Business School. It helped me build the confidence that I could go out and do things in the world. It taught me to put myself in the shoes of a decision maker and figure out what I would do if I were in his/her shoes. This is why I am a big believer in education as a foundation for reaching your unique potential.