The vision must be realistic - it has to be based on clear distinctive competencies. Again, what would the world lose if you didn't exist? A vision is very powerful because it gives you a basis to judge every action you take. Every action should be viewed through the prism of whether it furthers the vision.

Vision and priorities should precede actions. Actions should be judged through the prism of how the firm adds value and the key competencies it seeks to build.

Leadership is a team sport - learning to work with others is a critical skill. This means articulating a clear vision, setting priorities, giving coaching, getting coaching and learning to seek advice from the team. All these activities

Every person I meet is struggling with how to understand themselves and reach their full potential. No one has it fully figured out. It is a life long struggle - -there isn't a precise destination or arrival.

I loved my career at Goldman Sachs. I believed in business principle number 1: if the client succeeds, our own success will follow. This principle formed the basis for my career and my leadership style.

Why do leaders fail? Isolation and inability to learn. They are afraid to express doubt, admit vulnerability or seek advice from subordinates. Leaders must actively work to seek feedback and a reality check. They must be open to asking questions and framing issues. As the world becomes more complex and global, the risk of isolation becomes greater. The need for leaders to be open to learning becomes greater. Great leaders will need to ask the right questions and balance inquiry with advocacy.

Rather than the word career, I prefer to discuss how you make a positive I pact on the world. This could mean raising your children, professional activities, non-profit work, or various other actions you take that impact others. I have found that, at all ages, people want to be needed and play a role in impacting the world.