Know What You Don’t Know

Recently an interview with Robert Toll, CEO of Toll Brothers, Inc. contained several of his tips on running a business. Although a number of them could be applicable to various kinds of CEO’s and their business, one struck me as universally applicable. "A wise man knows what he doesn’t know. (Never assume knowledge)." This phrasing was the way the tip was expressed in a sidebar by the interviewer. My observation of doctor CEO’s over the years finds that far too often doctors assume key information in the process of making important decisions. Many times what is assumed has to do with business, marketing, finance or personnel related areas. Seldom is an assumption of any kind made without a real understanding when it is related to clinical care. Take a tip from this very successful CEO, know what you know and if you say to yourself, ‘I don’t really know this aspect of what I am trying to decide’, seek out those knowledgeable to assist and guide you. Its cheaper in the long run!

Comments

[John Locke]

I think there is also an assumption in many senior managers minds that the people they are dealing with already have certain level of understanding. Not always true, I am sorry to say, sometimes we have to cater for the lowest common denominator. I certainly point this out in my presentation, “Think to Link.” Far too often assumptions can create more work then necessary. This is where long term working relationships are an advantage. You are aware of each others limitations.

All the best John

www.AnEnglishmanAbroad.com