Leadership Secrets of Massimo Ferragamo, Chairman, Ferragano, USA

Massimo Ferragamo, Chairman

Ferragamo USA

Overview

Select the best people for every key position, and give them the authority necessary to do their jobs.

“I believe in trying to master and develop the science of selecting the right people within an organization,” says Massimo Ferragamo, “and consequent to that, to be able to delegate and make them responsible and the owners of what they are in charge of. When you entrust someone and give them responsibility, you are automatically handing over a piece of the company. It’s up to him or her to live up to that ownership.

“As our company was prospering and growing, I think we selected the best people for every key position, and we gave them all the authority necessary to do their jobs. More recently, we selected a president for our company who was put into place, as I became chairman. I also formed an executive committee with all of our top reports that meets regularly and acts strongly together working as a team.

“The most important thing in selecting the right people is to first have a clear understanding of their backgrounds, experience, and successes in previous companies, including their reputations in their industry. On top of this, it is essential to fit their strengths to the position they will assume in the company.

“For this process, there are outside companies who specialize in helping you determine this. In general, for me, the three most important criteria are: a person of high ethics, a strong business mind, and someone who takes pleasure in the development of others.

“Some of the characteristics required to be a good leader include being a team player, a coach, a strong people person; having a clear focus for the task at hand and the capability of convincing others. If you like people, like to see others prosper, and enjoy working in a team, you might have the right qualities and can be a great leader.

“I think ultimately a great leader must be a people person. If you don’t have that quality, you might get away with it for a few years, but for an all-around leader it is a necessary quality. I also suggest putting yourself at the service of the team, because it’s the team who wins, not the coach.

“I don’t know if good leadership is something you can learn, but you can get better at it. Also, one should remember that every day is a new learning process, and that you never stop learning.”