These leadership takeaways are part of the new primetime series “CNBC Leaders Playbook,” with all new episodes airing Wednesdays at 10pm ET/PT. Hosted by CNBC’s Julia Boorstin, the series goes inside the minds of the world’s top business leaders to uncover how lasting success is built.
1) Leadership from the field
Before becoming CEO, Marvin Ellison had a job that most people ignore.
He unloaded the truck. He drove a forklift. He worked as a janitor.
All of these jobs paid by the hour and helped pay for his college education. Ellison says those front-line roles shape his leadership style and every decision he makes.
When he took the top job lowe’sinstead of meeting with management at headquarters, he went into stores and met with front-line employees.
Ellison says this approach was formed years ago. When he was making $4.35 an hour as a security guard at Target, he wondered how the company would be different if executives spent time in stores.
At the heart of his strategy was the belief that executives who understood their front-line employees were better leaders.
I always question every decision we make. How will this impact frontline workers? Because that should be the first question.
2) Pressure reveals possibilities
Due to the coronavirus, demand at Lowe’s skyrocketed overnight. This required leaders to make critical decisions quickly, from rolling out curbside pickup systems to managing strained global supply chains.
Ellison said the experience revealed the hard truth that layers of bureaucracy are slowing down business. As a result, he removed obstacles and emphasized speed. This means capital approvals and technical processes that used to take months are now just days.
This urgency has led to a new way of operating the company. He said the lessons have not been forgotten and that Loews University leaders are now empowered to act quickly and be decisive.
Leaders must be decisive. The difference between decisive and impulsive is data.
3) Keep it simple
Ellison said one of the biggest leadership mistakes is making the job too complex. If your team doesn’t have a clear understanding of your plan, you won’t be able to execute it.
Too often, he said, leaders plan just to show how smart they are, rather than how simple and uncomplicated the job needs to be.
That’s why he built the company around just a few core priorities: what he calls “retail fundamentals.” The result, he says, has been improved execution and results.
Ellison said the strategy only works if those closest to the customer are clear about what matters most. Otherwise, your strategy will collapse.
Simple actually works, but simple doesn’t mean simple.
4) Don’t be a victim
Ellison grew up in a small town in rural Tennessee, working multiple jobs to pay for his education. He says his background shaped him, but he never let it limit him.
Throughout her career, Ellison said she has intentionally taken on tough jobs that others didn’t want. He often replaced leaders who were ejected. When things didn’t go his way, he said he looked within himself and not at the fault of the situation.
He believes that progress comes from resilience, learning, and refusing to make excuses, no matter where you start.
I don’t allow my surroundings to limit my vision for the future…I have never been a victim. When things aren’t going well, I look in the mirror and ask, how can I get better?
Watch Marvin Ellison’s interview on CNBC Leaders Playbook. This is a new primetime series hosted by Julia Boorstin that features candid conversations with the world’s top business leaders about how to build lasting success.
Episode Premiere (Lowes): January 21 at 10:30pm ET/PT on CNBC.
All new episodes are released on Wednesdays.
