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  • [MUSIC]

  • [APPLAUSE]

  • Thank you.

  • Thank you. Quite an introduction!

  • Quite a class!

  • Wow!

  • It's great!

  • >> Governor, welcome to the GSB.

  • >> Thank you.

  • >> Welcome to The View From the Top.

  • We're excited to have you here because you've managed to be at the top of,

  • I think at last count, at least four organizations.

  • And so we wanna talk about your professional success and,

  • and management skills.

  • But one thing the Dean mentioned, which I think is particularly important is your

  • committment to personal success, your family, your community, your faith.

  • And I want to start by an anecdote, which is actually the first time we met.

  • And I haven't told you this story,

  • though you know I grew up in your hometown for some time.

  • And that's 21 years ago,

  • you invited a bunch of boy scouts over to your house when I was 9 years old.

  • To have a- >> Oh.

  • >> Yeah.

  • [LAUGH] No it's good.

  • >> They're still cleaning up that mess.

  • >> Yeah.

  • [LAUGH] Yeah.

  • So you, you invited a bunch of us over to your house.

  • I think it was about 30 boys and we were there on a Saturday or

  • Sunday and you spent the day with us all day, grilling burgers.

  • It was a pool party.

  • And I'm struck by two things as I remember that story.

  • One is that there aren't very many parties I remember from being nine years old.

  • So you clearly know how to throw a very good party.

  • >> [LAUGH] >> Serving beer to kids is always

  • a [INAUDIBLE] >> Yeah, right.

  • >> [LAUGH] >> Right.

  • So thank you for that.

  • [LAUGH] The second is that, you know, on reflecting on the story,

  • I realized that this was roughly around the time you were running Bain Capital and

  • about to embark on the Senate campaign, and that really struck me.

  • Where the press is filled with stories when you were leading major organizations

  • but still found time for these kind of examples.

  • And the word having it all gets thrown around a lot but

  • you have sort of managed to have it all.

  • You have a great career, you have a great family,

  • you're committed to your community.

  • I wanna know how you've managed to strike that balance and have it all.

  • >> I don't know that I've spent a lot of time analyzing

  • how you balance your life, at one point I remember feeling that I

  • wasn't dong as much as I should be doing in my home with my kids.

  • Also feeling I wasn't doing as much as I should be doing at work, and

  • also feeling I wasn't doing as much as I, I should at church in my assignment there,

  • and then realizing that not things were pretty well in balance [LAUGH] and and,

  • and there may be.

  • It's humorous, perhaps, but there's some truth to that.

  • Which is if you're spending all of your time in, in one aspect of your life and

  • not devoting it to other things that are important to you,

  • then obviously things are out of whack.

  • I, a couple of things I backed into.

  • You're in the joint program.

  • Business law program.

  • I, I came from Brigham Young University to Harvard.

  • And was convinced I would flunk out.

  • And cuz I looked around and

  • I saw all these people who were obviously smarter than me and and how was I possibly

  • gonna make it in this environment except by just studying like crazy.

  • And so, I studied all the time.

  • And if I was not studying, I felt like there's this black cloud hanging over me.

  • I should be studying.

  • I've gotta be working because I'm gonna, I'm gonna flunk out.

  • And, and it was, it was omnipresent and at some point I finally said you know what,

  • I'm, I'm gonna do something which, which goes back to biblical times,

  • I'm gonna take Sunday off.

  • I'm gonna decide I'm not gonna study at all on Sunday, and

  • I'm gonna devote that day to my family, to worship and just personal time.

  • And it was amazing what happened when I made that decision because then,

  • on that Sunday, I didn't feel the black cloud there anymore.

  • It's like, okay I, I, I can't study today, I don't have to worry about it.

  • And, and the same thing happened as, as I went into my career,

  • in the consulting industry.

  • I said, you know what?

  • I, I'm not just gonna work when I come at the end of the day.

  • It may be a late night.

  • It may be I get home at 6:00 or 7:00 instead.

  • But when I come home I'm gonna close my brief, briefcase and not work.

  • And I'm gonna devote the time I have at home to my family.

  • And it was wonderful.

  • It was just, it was, it was freeing because I could really focus on

  • the things that I cared most about in life which, which were my wife and my kids.

  • And now of course if there was a big presentation coming up why I'd, you know,

  • I'd break that rule.

  • But, in terms of a, a regular pattern of life those were a couple of things I did.

  • Sundays stayed, for me, a day of family.

  • Coming home at the end of the day stayed a family time.

  • I traveled a good deal.

  • Of course, if I was, was on the road I worked like crazy late into the night.

  • But a few of those decisions early on shaped how I spent my time and probably

  • helped me balance my life to, towards those things that mattered most to me.

  • >> So how did you get away with that?

  • >> [LAUGH] >> I mean, there's a lot of people,

  • I mean, all of us come from these, you know, careers or are going into these

  • careers where, if you say, I'm gonna go home at 6 o'clock, I'm sorry.

  • That, you know, that's not always met with a lot of positive reception.

  • >> Yeah, no. I, I, and I may have misspoken there.

  • Some nights, I might have been able to get home at seven.

  • >> Or take Sunday off.

  • >> And, and, but, but I but I found if you take a block of time off for

  • yourself you may well be more productive than if you don't.

  • And and that may not be true depending on the organization you go to.

  • But I remember when I was talking to Bill Bain about joining Bain and Company and

  • I said look I, I have to take all day Sunday off.

  • So if there's like a company meeting, or if you want to come in for

  • a case team meetings on Sunday, I just won't be there.

  • And if that's something that,

  • that the firm can't accept, then I'm probably not the right guy for the firm.

  • And, and I live by that.

  • A, again, unless there was some kind of a, an unusual experience, some,

  • you know, terrible crisis happened.

  • I was going to jump in with both feet like everybody else.

  • But that was the every day occurrence, and I think it may be more effective and

  • more productive.

  • And I, I had good consulting assignments and got promoted as time went on.

  • So I don't think it hurts to have something more

  • in your life than just work.

  • I think, I think having faith, or a community that you care about,

  • politics, and children.

  • I think that makes you a more full human being,

  • more able to understand how the world works, and how most people think, and

  • may actually make you more effective.

  • And by the way if it doesn't, and you don't get promoted

  • in the way you wanted to And you don't make as much money as you wanted to.

  • So what? Life is not about getting promoted and

  • money.

  • If that's how you measure your life, I got some bad news.

  • There's serendipity in the world.

  • Bad things happen in business and the economy.

  • You can't be guaranteed you're gonna get promoted, and make a lot of money.

  • But if you measure yourself by the things that count most to you, your relationship

  • with your spouse, your friendships, your children, your family, those things

  • you can succeed at whether or not the world goes to hell in a handbasket.

  • So you know, I think you lay out how you want to live your life and, and you do

  • that you can have success regardless of what happens in the world around you.

  • >> You mentioned your time at Harvard and how this kind of came to you then.

  • This, this need to create some sectors in your life.

  • One of the other decisions you made at Harvard was,

  • you're graduating with a JDMBA, you decided to go into management consulting.

  • I'm curious for all of us making these kind of choices today if you Have similar

  • interests, and were here where we are today,

  • would you make the same decision to go into management consulting?

  • And I ask that as a JDMBA going into management consulting,

  • so I hope the answer is yes.

  • >> My condolences.

  • >> Yeah, no, thank you.

  • >> No, I mean, my path, was very different than the success books suggested.

  • I mean there are books out there that said that you know you

  • ought to have a clear goal in mind and think about that goal and

  • and I grew up in Detroit My dad was a car company CEO.

  • And I fully anticipated to go work for a co, for an automobile company.

  • That's what I wanted to do.

  • And so after my first year in the JDMP program,

  • I went to work at Chrysler Corporation.

  • And thinking that's where I was gonna go.

  • And I hated it.

  • I was so deep in the organization.

  • And of course the people, I mean, my boss' boss' boss had never met the CEO and

  • never would.

  • And and decisions being made that would affect the success of that company,

  • I'd never have any impact on unless I was there 50 or some odd years.

  • And I thought boy, this is just not at all like I imagined it.

  • And, and so I came back in the second year, and, got a job.

  • I think it was my second year, in the program.

  • I got a job with the Boston Consulting Group, for a summer job.

  • And it was fascinating, and it was exciting.

  • And I loved it.

  • And, and so it was not a great analysis I did to say,

  • this is the right next step for my career.

  • I just enjoyed it.

  • My path in life has primarily been focused on doing things I thought were fun and

  • enjoyable, and so that was fun.

  • My undergraduate major was English.

  • Why would you go into English?

  • There's no future, right, as an English major?

  • What are you going to do, all right?

  • But I liked reading and I liked writing.

  • So I went, I took English as my major, and then coming out of business school,

  • law school I went into consulting because I enjoyed it,

  • not because that's where I thought I'd spend my life.

  • I expected I'd be there for two or three years, like most people do, and

  • then get a job in a line corporation of some kind and, and

  • perhaps move up, more aggressively by having started in consulting.

  • I love consulting.

  • Because I am, I am oriented towards solving problems.

  • I like analysis and data and problem solving and writing and

  • writing presentations.

  • That's what I like to do.

  • That's what took me there.

  • And so, I would, I would go to those, I've followed

  • the career path that you enjoy most as opposed to trying to follow a career path

  • that you think will lead to the highest income or the quickest promotion.

  • Do what you enjoy and then your life will be enjoyable and fulfilling.

  • >> So, one other thing you're known for

  • is parachuting into very troubled environments.

  • You went from being captain back to being consulting to turn that around.

  • You went from Bain Cap to the Olympics, turned that around, and

  • then you parachuted into my home state of Massachusetts and

  • helped turn that around as well.

  • What, what led you to make those decisions?

  • What were you looking at to make to make those kind of like pretty risky bets.

  • >> Yeah I, I don't know that I have jumped into troubled situations

  • because I enjoy troubled situations.

  • [LAUGH] I, I, but but it is a sense of obligation.

  • And maybe it's my upbringing or my faith.

  • Or I say upbringing in my parents.

  • My dad had this sense of obligation to the country.

  • And my dad was born in Mexico, of American parents living there.

  • There was a revolution at the time.

  • Came back to the United States.

  • Lived in public housing, got public assistance, and and grew up poor,

  • very poor.

  • And had a, a, perhaps as a result of that,

  • of bringing in the opportunity in this life, th, that developed over his life,

  • had a great sense of obligation to America and to the community.

  • And so, whenever he felt that there was a need that wasn't being met,

  • he volunteered and jumped in.

  • And, and somehow, I felt the same way.

  • So, in, the first step, you mentioned going from Bain Capital, which was highly

  • successful and growing like crazy, and Bain Consulting was in trouble and

  • it was in trouble because of financial steps that had been taken by the founders.

  • And it looked like it might disappear all together.

  • And I was asked by the partners of the consulting firm if I would leave

  • Bain Capital for a couple years, and come back, and run the consulting firm.

  • And I felt like how, how can I say no?

  • There were a thousand people who were working at Bain Consulting at that point,

  • and I figured that there was a very high risk it wouldn't make it.

  • I had the particular skills that were most needed at that point.

  • Financial skills.

  • Cuz they needed a financial re-engineering as well as some leadership skills.

  • And so I came back to the consulting firm.

  • The Olympics?

  • Why go to the Olympics?

  • I mean, I I've pointed this out before.

  • There was some irony that a person of such limited athletic talent would be running,

  • running the, I mean, I didn't even letter in a sport in high school, and

  • I'd be running the premier sporting event in the world.