Business and leadership is about the future. What worked five years ago is unlikely to work tomorrow.

There are multiple ways to solve a problem and add value. There are seldom right answers. So, you've got to use your abilities to diagnose a situation and use your best judgment on what to do and how to do it. You WILL make mistakes - when you do, admit them and go back and try to fix them. I don't know is often the right answer.

There are three main areas of focus: vision, priorities and alignment. It is critical to articulate a clear vision - how do we add value based on what key competences? Some leaders fail to be clear enough or fail to update the vision based on changes in their industry and in the world.

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.

Change efforts happen when a firm is out of alignment with achieving its vision. If the organization has broad buy-in on a clear vision, the need for change becomes much clearer. It also helps to over-communicate what you're doing and why you're doing it. Lastly, the leadership needs to spend as much time on "how" changes are being made and "what" changes are being made. Human beings are involved and there are winners and losers.

I like films about people who figured out what they believed and had the guts to act on it in a way that added value to others. So, there are lots of movies that have characters who did that. I'll pick an odd one - Stranger Than Fiction because I really liked the movie - particularly the offbeat cookie maker. You'll have to see the movie to see what I mean. The movie also reinforces that you can be the author of your own script.

If you're the smartest person in the room, it can sometimes be hard to learn to delegate - the person to whom you're delegating will do the task worse than you would - and it will annoy you!