- Self-discipline, a work ethic, and a dedication to continuous improvement
- Fortitude and a penchant for action
- The ability to set high standards of performance and integrity. "Compare yourself to the best," he advised, "and treat other people the way you treat your parents. Do the right thing, not the expedient thing."
- Analytical skills that take a hard, honest look at all the facts, including "things we're not doing well."
- A willingness to share information with others and to use it as the basis for making the right decision. For that to happen, everyone a leader works with should feel free to engage in open, uninhibited conversations and discussions. "Have many truth tellers around you, not just one."
- A sense of the importance of loyalty, meritocracy, and teamwork in the context of the success of the entire organization. If someone is not doing the job, loyalty to organization trumps loyalty to the individual, Dimon explained.
- A feel for a firm's morale - something that can be severely damaged by organizational bureaucracy and politics
- Respect for everyone at every level, from the CEO on down
- A skill set that can "get compensation right" based on hard work and contributions to the company, including helping other employees. Long-term deals for CEOs and other top executives don't pass muster with Dimon ("I shouldn't have to bribe you to join us."), nor do compensation programs that automatically penalize failure. Leaders should be able to adjust for the fact that a person tried but ended up being wrong, he said.
- A sense of humility, based on the acknowledgement that no one rises to a leadership position without the help of others, beginning with one's parents.
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