Niblock shares personal values, insight with Wachovia Executive Lecture audience
Feb. 13, 2007 - Students and members of the business community gained some personal insight yesterday from Robert Niblock [left], chairman and CEO the second-largest home improvement retailer in the world – Lowe’s.
Speaking before an audience of about 300 students, members of the business community and faculty gathered at the Nelson Auditorium at the NC State College of Management, his presentation was more like a friendly, frank conversation than a lecture. But he made his points clearly at this first Wachovia Executive Lecture Series presentation of the year.
Niblock spoke of his personal upbringing “in a conservative, loving family … where every expense was tightly watched.”
That led to his first point of the evening: “Don’t ever lose your sense of value,” he said.
“About 23 years ago, I was in your position,” he continued. “I worked hard, studied hard, and was certain that I had a lot I could teach the world. And once I entered the world, I learned how much more I had to learn.”
His second point: Never stop learning.
Niblock’s first stop on his career track was a nine-year stint as a public accountant with Ernst & Young. “Public accounting was a great place to start my career,” he said. “There were a lot of long hours, weekend work.”
His third point: To be successful, there will always be sacrifices.
Twelve years after joining Lowe’s, Niblock was named to his current position, leading a FORTUNE® 50 company that serves approximately 12 million customers a week at more than 1,350 home improvement stores in 49 states. The company has 700 million customer transactions per year, and recently announced plans to open stores in Canada and Mexico.
“When you join an organization, you never know exactly what you’re getting into,” he said. “It’s always a leap of faith.” That was his fourth point.
Early in his career at Lowe’s, Niblock accepted an industrial relations position. “I lacked significant experience in this area, and I feared public speaking,” he said. “But I believed that my knowledge, skills, ambition” would serve him well, and “I got in touch with great mentors.”
His fifth point: Don’t be afraid to accept new challenges, even if they move you outside of your comfort zone. He offered a caveat here: you do need the basic skills to get the job done.
“People ask, ‘When you started at Lowe’s, did you ever envision that you would become CEO?’ The answer is no,” he said. “If I had gone in trying to tell everyone that I was going to become CEO, I wouldn’t have paid attention to the job that I was called to do. But don’t be afraid to go beyond” what is expected of you.
And, find something you enjoy doing. “Life is too short, and if you’re not happy, you won’t perform well. But remember that rewards and advances don’t come without sacrifice. Be willing to take on new roles, new responsibilities, even if it makes you a little uncomfortable.”
His sixth point: Worry about what matters, and let the other issues go. Pick your battles carefully.
Point seven: Strike a work/life balance; determine what works for you.
Point eight: Don’t take your problems from work home with you. You will take work home, but don’t burden your family with issues from work.
Point nine: Develop a comfort level with public speaking. You will perform better and your message will be more effective.
Point ten: There is some truth to ‘being at the right place at the right time.’
A few bonus points:
- Hone your skills
- Keep in mind that leadership comes from within. Your employer can give you a job and a title, but can’t make you a leader.
And finally, a few key traits for success in business.
- Understand what drives your business and keep this your priority. In retail, customers and customer service come first.
- Attitude: As a leader, all eyes are on you. If you have a winning attitude, then others will have one. This is the best way to motivate a team.
- Be passionate about what you are doing, or find something else to do.
- Respect those around you, and they will understand and support the tough decisions.
- Integrity and ethical behavior have always been important in business, but today more than ever.