There’s no denying the power of a good commander-in-chief. Julius Caesar, Winston Churchill and Steve Jobs are some of the glowing examples of how leadership acumen can change the course of the world. While the ability to lead is a coveted skill, it is still not entirely understood and properly practiced in business, especially in startups. We sat down with Duy-Hieu Pham, co-founder and President of Startup Vietnam Foundation to get a sense of the qualities which an effective leader should have.
Duy-Hieu held multiple high-level management roles at big corporations within the finance and banking industry. He is also known for being one of the youngest CEOs of Vietnam when he became head of ABBank at 34 years old. In an episode of VietStartup’s TalkSpace, Duy-Hieu shared with us the 4 key characteristics of a good leader.
1. Integrity
“Nobody follows a person without integrity” – said Duy-Hieu. This sentiment coincides with a study done by Sunnie Giles where “strong ethics” was the first of the top 10 leadership competencies. Having high moral standards is often grounds for trust and a feeling of safety among people. When CEOs and managers express a commitment to integrity, they are ensuring the workforce that fairness is in place, and that expectations will be properly communicated so as not to blindside people. This, in turn, lowers a person’s guard when it comes to being properly compensated for their work, and helps them to become more relaxed and more open to contributing to their organization.
But how do you ensure your leadership style speaks integrity? According to Duy-Hieu, authenticity is the answer. Being truthful in how you feel about an idea, or having a quirky yet conspicuous personality is all part of being authentic. Good leaders should be able to set an example for a high moral standard and honesty in order to motivate the people around them.
2. Competence
Duy-Hieu described this trait as “excelling in something, no matter what it is”. In essence, competence is a sign that a person can perform the job they are tasked with. This trait is crucial because leaders are most often admired by their followers for a talent that they possess. Take former US President Barack Obama for example. At the 2004 Democratic National Convention, his keynote on his heritage thrust him into national spotlight, and his subsequent victory speech in 2008 further established him as a sensational speaker. People around the world look up to him for not only being a great leader, but also a wizard of words, who gives letters immense power to change society.
Similarly, a great CEO is not one without any talent, but often multiple, hard-earned skills that make them competent at what they do. “I am not afraid of an army of lions led by a sheep; I am afraid of an army of sheep led by a lion”, said Duy-Hieu, quoting Alexander the Great.
3. Vision
Luis von Ahn, CEO of the popular language-learning app Duolingo, had a future in mind for his company way before it was created. Luis realized that education is the key to getting out of poverty. Unfortunately, it is also a class gatekeeper: the more money you have, the more accessible education is to you, which leads to more money, and vice versa. He set out to make education free to everyone, specifically, the education of language, since it is often the first thing people learn when moving to a different country for job opportunities. Since its start in 2011, the Duolingo app has now been used by 500 million people worldwide, and schools such as UCLA and Yale have accepted Duolingo certifications as a valid proof of language competency.
The story of Luis von Ahn and Duolingo illustrates the need for a leader with a vision. Duy-Hieu compared this trait to a captain who knows where his ship should go and can lead his crew to the right destination. He also added,
‘Sometimes, great leaders are the ones establishing new, undiscovered paths and goals for their organizations’.
A visionary leader sees further into the future, sets out forward-thinking goals and realizes what is needed to accomplish those goals. They are able to paint a picture of a desired reality and unite people around them to achieve it.
4. Being inspirational
When all basic needs are met, what drives people to become great in organizations? A leader that knows how to inspire people. Duy-Hieu likened the ability to inspire to the energy necessary to keep a light bulb going. “People absorbed the energy emitted by the leader”, said Duy-Hieu. “They get less motivated when leaders are not filled with some sort of energy, be it positivity, perseverance, etc. In a world where there is cut-throat competition between companies, the ones who are able to keep people motivated will thrive. After all, motivation breeds action, which breeds results.”.
When it comes to inspirational Vietnamese leaders, Thai Van Linh can be considered a glaring example. Linh had a modest life growing up, but worked her way towards being one of the most successful Vietnamese-born entrepreneurs. Linh came back to Vietnam in the middle of a successful career in America, because according to her, you should do things people don’t to achieve things people can’t. She has appeared on the reality TV show Shark Tank and is currently an adviser to Vietnamese startups.
These are the 4 essential skills of a great leader, but if you cannot see yourself possessing them, don’t worry. Duy-Hieu assured that you all have these skills, just at different levels of competency. He added, ‘When you cheered someone on in a competition, that is being inspirational and enabling. Similarly, if you are honest in your daily communication, that is also a sign of integrity. So, bear in mind that you already have these skills within you, and you should work towards honing them”. Next time, when you feel down about your leadership skills, just remember: You’re one great leader in the making, keep trying!
Watch the full livestream here! This episode is in Vietnamese.
