How about Jamie Dimon in Public Office: Will He Be a Michael Bloomberg Type Success or Carly Fiorina Failure?

The buzz has started: JPMorgan Chase CEO Jamie Dimon might try to make the shift from leading a business to another kind of leadership: public office. Here are details from Bloomberg.

 

But, overall, the odds are against him for succeeding as a public servant. In Psychology Today, James Balley documents what most of us have already noticed: Business executives tend to fail in public service, both when running for elected office and as appointees. 

 

Balley gives three reasons:

 

Business' mindset of efficiency. That's not how policy and governing operate.

 

Business leaders' accountability to a limited number of constituencies. Out there they are all over the place.

 

Business' approach to risk as opportunity to increase profits. Those in public service have the mission to reduce risk.

 

From my studying leadership, I would add that businesspeople are used to telling others what is the right thing to do. In contrast, natural politicos tell the masses what they want to hear. From nowhere in New York City AOC came to power. She piggybacked on the memes most popular among voters and those sympatico with way left of center politics.

 

The business flameouts in trying to enter public service or succeeding while there range from former HP CEO Carly Fiorina to former ExxonMobil CEO Rex Tillerson. Fiorina never got elected. Tillerson only lasted about a year in the Trump Administration.

 

The question continues to hover, though, if businessperson Donald Trump had been a success or failure.

 

Meanwhile there have been those such as entrepreneur Michael Bloomberg (2002 - 2013) who is respected for his terms as mayor of New York City. Okay he didn't get too far in his campaign to be the Democratic nominee for President in 2020. But, come on, that's such a long shot. 

 

Like Dimon, business leaders Lee Iacocca and Starbuck's Howard Shultz toyed with entering the public realm but didn't. If they got in the odds were against them for getting what their supporters needed and wanted. They seemed too used to being the boss. A politico follows the people.

 

In my career coaching the usual topic is fit. It's painfully obvious when there isn't one. That's what Dimon has to ponder: Is he a fit in the context of being a public servant?

 

What is your career story? Or, what do you assume it is? That narrative may be ot-of-date and holding you back.

Take advantage of a complimentary consultation. Please contact intuitive career coach Jane Genova at janegenova374@gmail.com or text 203-468-8579.