There are people that stand out for their professional quality; there are people that stand out for their human quality… But those that leave a truly indelible mark usually stand out for both virtues combined. This is the case of the venerable Frank Maguire, one of the most important American entrepreneurs and executives of the 20th century, whose invaluable lessons on how a business works and how it should be lead applies passionately to the directors of the 21st century.
I had the privilege of sitting down at length with Frank Maguire, on his recent visit to Madrid, where he attended the High Performance Forum; an event during which he was able to get the attending executives on their feet and connect with each other, extending handshakes to one another.
Passion is one of Maguire’s favorite words. Passion is what this man put into the founding of FedEx, whose birth and brutal growth he was witness to and protagonist of; passion is what he put into the expansion of American Airlines, as one of its top leaders; passion is what he lent to the consolidation of Kentucky Fried Chicken as one of the largest fast-food chains in the world; passion is what led him, before joining the business world, to advise first-hand presidents John F. Kennedy and Lyndon B. Johnson… Frank Maguire continues to be pure passion, and it is that passion which keeps him so alert and energetic still, despite his seniority.
My obsession with Customers, Marketing, and Sales caused the conversation with Maguire to go in these three directions. So, Frank told me that the word “customer” is derived from the word “custom”, which makes clear how much the relationship with the customer is based on trust, which becomes habit, and which generates even further trust, in such a way that a solid, long-term relationship is created…
Maguire is rightly obsessed with the long-term. He claims that in Japan he has seen with his own eyes strategic plans that cover 100 years, and he declares his preference for this vision over the “dictatorship of quarterly results” that clouds the vision of companies today, depriving them of clear strategies and causing the customers to pay for that improvised management. Maguire’s devotion to the customers is such that, when he founded FedEx along with the legendary Fred Smith, he decided to christen the company with the name of its first customer, which was none other than the Federal Reserve in the United States, aka “Fed”…
Maguire is a firm defender of the team, who he believes should be loyalized above all else, “because only loyal employees make loyal customers”. Since he believes that companies not only have a head, but that they also feel and transmit just like the human beings who give them life, Frank believes that every company should not only be focused on the customer, but that it should be permanently “sensitive” to the customer. “They feel like we’re one of them, each one in a different way… We have to do the same”, he declares.
I learned something from Frank Maguire that I will never forget and which I am beginning to apply with great results. When I asked him what a humble director like myself can do to improve his customers’ satisfaction, he told me: “You see, I limit myself to three top-priority meetings in my schedule. In the first, I gather my people and ask them what we are doing that we should no longer be doing. In the second, I ask them what we are doing well that we should do better. And in the third, I ask them what we are not doing, what we should do. I only ask and shut my mouth. I listen. Because no one knows more about our company and our customers than our own people”. I hear you, Mr. Maguire, and I absolutely agree.