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.

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.

Personal relationships are often based on affection - professional relationships can have affection but they must have mutual understanding, trust and respect.

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!

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.

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.

It bears repeating: you don't have to be good at everything.