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Presentation given at Union Pacific's Women of Steel Conference, 2013, Omaha, NE
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June 12, 2013 Karen Linder
from the
Women of Berkshire Hathaway
Leadership Lessons
LEAD Conference: Women of Steel
Karen Linder
Linseed Capital LLC
What I Learned
Few business books exist about women, for women, written by women.Few role models exist for women pursuing careers in business and entrepreneurship.
The Women of BRK have Lessons to Share.
80 Subsidiaries5 female CEOs = 6.3%21 female CEOs in Fortune 500 = 4.2%
Board of Directors13 Directors – 3 female, 23.1%
Berkshire Hathaway (BRK)
Nebraska Fortune 500 Companies
Berkshire Hathaway (7) 2/93/13Union Pacific (143) 4/161/13ConAgra (215) 3/11 2/10Peter Kiewit (255) 0/120/12Mutual of Omaha (411) 2/102/9
OfficersDirectorsFemale
Berkshire CEOs - Timeline
Rose Blumkin, Nebraska Furniture Mart, 1983-1997Susan Jacques, Borsheims, 1993Doris Christopher, Pampered Chef, 2002-2006Cathy Baron Tamraz, Business Wire, 2006Marla Gottschalk, Pampered Chef, 2006Beryl Raff, Helzberg Diamonds, 2009Mary Rhinehart, Johns Mansville, 2012
Berkshire Directors
Charlotte Guyman, (fmr Microsoft) 2003Susan Decker, (fmr Yahoo!) 2007Meryl Witmer, 2013, Investment Fund Manager
Business ColleagueKatharine Graham, CEO, 1963
The Washington PostBerkshire – Post Major Shareholder, 1971+
Rose Blumkin - Tenacity
Overcome Obstacles
Life circumstancesCompetitorsMother NatureNever too late to start over
Lead with Values
Inspiring Business Philosophy + Vision
= Respect
Gratitude
“My hobby is figuring out how to advertise, how to undersell, how much hell to give my competitors.”
Susan Jacques – Courage
Jump into the Unknown
Personal SafetyEducationCareer
“Step out of your comfort zone and maybe go down a different road for awhile.”
Doris Christopher – Make Your Passion Your Career
Bootstrapping
No financingNo officeNo salaryNo employees
“The only way it would work was to start small and make do with what we had.”
Cathy Baron Tamraz – Seize An Opportunity
Unconventional Pursuits
CabbieHawaii hotel managerInvestor Relations
“It’s all about moxie and confidence and not being afraid to try new things.”
Marla Gottschalk – Collect Skills
Collect Experiences
Bank teller, office mgr, waitressAccountant
FinanceManagement
Marketing14 years, 9 jobs
“I was willing to take on less glamorous assignments if I thought I could learn from them.”
Beryl Raff – Backstep to Progress
1 step back, 2 steps forward
#Years:Macy’s = 19 ManagerZales = 6 Manager, CEOPenney’s = 4 ManagerWhitehall = 0.019 CEOPenney’s = 4 ManagerHelzberg = 3+ CEO
“I’m not somebody who says, ‘Woe is me’, so I picked myself up, reflected on the situation and tried to look at it as a learning experience.”
Charlotte Guyman – Purposeful Life
“Servant Leadership”
Clear goalsPerformance measures definedPromote personal developmentAssist team to solve problemsGive back
“If it wasn’t clear where I would add value, I wouldn’t want to be on a board, and I’m always looking at how I can add value.”
Sue Decker – Make Mistakes to Learn
Open Honesty
Wall Street Equity research analyst – mediaYahoo! CFO, President
Making mistakes = risk taking = innovation
“Fail Fast. Regroup and go on to the next new idea.”
Katharine Graham – Blaze a Trail
Brave Face
Striking workersPublic opinionsGovernment pressuresPentagon PapersWatergateIPO
“What I essentially did was to put one foot in front of the other, shut my eyes and step off the ledge. The surprise was that I landed on my feet.”
Variable Background
Education
Socio-economic
Geographic
Lessons – The ABCs
Ability
Belief
Courage
Lessons Summarized
Do What You LoveContinue LearningTake Risks Make a Difference
Lessons
Don’t wait! Do what you love now.
“Putting off doing what you really want to do, is like saving sex for old age.”Warren Buffett
