During a keynote address at the Adobe Summit on Wednesday, JPMorgan Chase CEO Jamie Dimon, a figure synonymous with financial leadership, offered a glimpse into his philosophy on effective leadership.
Addressing an audience of marketers, practitioners, and executives, Dimon shared four core principles he believes are essential for success, covering topics from tariffs to the economy.
“I have to confess, I’m not used to speaking in front of 12,000 people,” Dimon quipped, before delving into his leadership insights.
Responding to a question from Adobe CEO Shantanu Narayen about his leadership development, Dimon outlined four key pieces of advice.
First, he emphasized the importance of rigorous self-assessment.
“Assess everything, honestly, directly, forthrightly. A lot of companies don’t do that,” he stated. Dimon cautioned against complacency and encouraged leaders to use data to gain genuine understanding, rather than simply to validate pre-existing beliefs. “Don’t try to use numbers to prove what you think,” he said.
Try to use numbers to understand what you are doing.
Secondly, Dimon stressed the critical role of an effective leadership team.
He frankly acknowledged that some individuals, despite their personal qualities, are simply not suited for leadership roles.
“A lot of people who run stuff, they’re like a hot mess,” Dimon said, elaborating on the need for team members to be on time and effectively perform their jobs.
“They may be great people, just don’t let them run something because they’ll be a disaster,” he added.
Humility forms the third pillar of Dimon’s leadership framework. “People know when you care about them,” he asserted.
“They know if you’re real.” Dimon underscored the importance of treating all employees with respect, regardless of their position.
He also cautioned against leaders who deflect blame and take undue credit, emphasizing the need for genuine care for employees and genuine authenticity, as well as respect for all members of the staff.
Finally, Dimon highlighted the necessity of “grit” in leadership, particularly in the face of constant challenges.
He emphasized the importance of decisive action, whether it’s saying “absolutely not” or embracing calculated risks.
“You’ve gotta have a little bit of grit,” he said.
Driving innovation: a technological imperative
Beyond leadership principles, Dimon also addressed the crucial role of innovation, particularly in the context of technological advancements.
He placed artificial intelligence alongside transformative innovations like agriculture, printing, and the internet, recognizing its potential to reshape industries and societies.
Dimon emphasized the importance of integrating technological innovation into leadership discussions.
He cited Lori Beer, global chief information officer at JPMorgan Chase, as a key advisor, highlighting the questions he poses to her and her team.
Questions like “What are you doing? What are you building? How are you competing? How are you using new technology? How are you using Adobe?”.
Dimon also emphasized the importance of a customer-centric approach, regardless of your industry. He cited JPMorgan’s expansion into lifestyle businesses, such as Chase Travel, as an example.
“We have a travel agency to make your life better,” Dimon said.
“And unlike some other companies out there in social media, we want to offer you what you want,” and not “just bombard you with ads,” He then offered a piece of business advice “A business should always look at itself from the point of view of the consumer.”
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