The finalists for WashingtonExec’s 2023 Pinnacle Awards were announced Sept. 25, and we’ll be highlighting some of them until the event takes place live, in-person Nov. 16.
Next is Intelligence Executive of the Year finalist in the Private Company category Dan Smith, RenXTech CEO (a Buchanan & Edwards company). Here, he shares what has made him successful in his role and offers career advice.
What has made you successful in your current role?
Reputation is everything ⏤ your reputation, the company’s reputation and the collective reputation of the people you hire. The Intel community is really good at doing their research before partnering with anyone. They will find all of the skeletons. You can’t fake reputation; it’s built through your actions with every decision, every single day.
Warren Buffett said, “It takes 20 years to build a good reputation and 5 minutes to destroy it.” We took this truth as the foundation of our business. We made promises to our employees and customers and thus built a reputation as a company with, not only deep understanding and expertise of the customer mission, but also a company with unwavering integrity.
What’s your best career advice for those who want to follow in your footsteps?
If it were easy, everyone would start a company or be a CEO. You have to set yourself apart and prove your value, regardless of where you stand in the hierarchy. If you aspire to move up, you must demonstrate worth in more than just eagerness and words.
Many aspiring leaders say, “I want more, I’m here to help!” But that doesn’t add any value. In fact, eagerness without corresponding effort creates more work for the leaders, who then have to figure out how to get that person engaged.
I always advise leaders to make themselves invaluable and irreplaceable. Instead of raising your hand and offering help, figure out how you can make a tangible difference, and then go do it! It’s imperative to understand that eagerness is distinct from genuine effort and tangible results, but you need all three elements to be a successful and sustainable leader.
Additionally, you need to set expectations straight. There is a common misconception that the role of a CEO entails a luxurious office, where you work only on prestigious tasks. In reality, especially if you run an employee-focused business, the CEO is the lowest man on the totem pole. You work for everyone at the company. You can’t be too proud to dive in and crunch numbers on a spreadsheet, talk to employees about challenges, even jump in on menial tasks like taking out the trash.
As CEO, you are a servant of the company and its people. Success depends on your ability to balance leadership with service. Then your leadership team needs to embrace that same servant leadership philosophy. This is how you build a successful business and an enduring legacy of leadership.