By Charles Schwab, Fred Sanders, et al.:
1. Embrace innovation and disruption. Schwab’s story is one of constantly challenging the status quo and finding new ways to do things. He was never afraid to take risks and disrupt the traditional financial industry.
2. Put the customer first. Schwab was always focused on making investing more accessible and affordable for ordinary Americans. He believed that everyone should have the opportunity to participate in the growing economy.
3. Build a strong company culture. Schwab created a company culture that was based on integrity, teamwork, and innovation. This culture helped the company weather many storms, including the stock market crash of 1987 and the dot-com bubble.
4. Stay focused on the long term. Schwab never lost sight of his long-term vision of making investing accessible to everyone. He was willing to make short-term sacrifices to achieve his long-term goals.
5. Manage risk effectively. Schwab understood the importance of managing risk, both for his own company and for his clients. He developed a risk management system that helped the company weather the financial crisis of 2008.
6. Be prepared to pivot. Schwab was always willing to adapt and change his plans as the market and the economy changed. He never became so entrenched in his ways that he couldn’t see the need for change.
7. Build relationships. Schwab understood the importance of building relationships with his employees, his clients, and his regulators. These relationships were essential to the success of his company.
8. Give back to the community. Schwab was always a strong supporter of his community. He donated his time and money to many charitable causes.
9. Never give up. Schwab faced many challenges throughout his career, but he never gave up on his dream of making investing accessible to everyone.
10. Believe in yourself. Schwab was a confident and determined leader. He believed in himself and his ability to achieve his goals.
These lessons are valuable for anyone who wants to achieve success in business or in life.
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