Working Together

Behind every great success is not a lone genius, but a partnership built on respect, trust, and shared purpose.

1. A Partner Who Cheers You On Can Make All the Difference

Support and encouragement are integral to a successful partnership. Frank Wells and Michael Eisner exemplified this dynamic during their time leading the Walt Disney Company. Eisner, the edgy visionary, and Wells, the steady hand, created a remarkable balance that propelled the company forward.

Their bond was built on trust and constant communication. They made it a point to share everything – from daily frustrations to fresh ideas. No decision was made in isolation, and their synchronized efforts ensured they weren’t just running a business but co-creating a legacy. Wells also excelled at promoting Eisner's ideas and negotiating on his behalf, which eased challenges and reinforced their collaboration.

Two standout qualities in Wells were his willingness to stay out of the limelight and his humility. These traits made the partnership less competitive and more focused on collective goals. His fortune-cookie philosophy, "Humility is the final achievement," symbolized his approach to shared success.

Examples

• Communicating multiple times daily to stay aligned.
• Wells playing tennis with Clint Eastwood to aid a critical negotiation.
• Wells willingly letting Eisner take the CEO role to avoid internal rivalry.

2. Healthy Skepticism Strengthens Decision-Making

Warren Buffett and Charlie Munger taught us the value of intellectual give-and-take. Munger’s role as Buffett’s skeptic wasn’t to undermine him but to refine decisions and foster well-thought-out strategies. When Munger pushed back, Buffett benefited from honing his ideas.

Their company, Berkshire Hathaway, owes much of its success to this dynamic. Decisions are weighed against Buffett’s and Munger’s honest exchanges, often informed by Munger’s "strong and hold" strategy. Even when Buffett proceeds against Munger's advice, Munger commits wholeheartedly to the final decision.

This productive relationship is rooted in mutual respect and a lack of personal rivalry. Munger admits that Buffett's strengths in action-oriented leadership surpass his own abilities, which eliminates envy and fosters effective teamwork.

Examples

• Munger's iconic phrases like “That’s the dumbest idea I’ve heard” sharpening Buffett’s reasoning.
• Berkshire Hathaway adopting Munger’s “buy strong and hold” philosophy.
• Munger openly praising Buffett’s leadership, knowing they complement each other.

3. Equal Ground Nurtures Stronger Bonds

True partnership requires equality, as demonstrated by Bill and Melinda Gates. Their philanthropic work thrives because they share decision-making and learn from each other. Bill’s maturity in treating Melinda as a true equal highlights how partnerships flourish when power dynamics are set aside.

Together, they tackle projects by reading the same materials, discussing their observations, and bringing balanced perspectives to every challenge. This equality also enables them to share vulnerabilities, providing each other with emotional and intellectual support.

Over time, their bond has grown so profound that they often finish each other's sentences. Rather than a top-down leadership model, their partnership exemplifies flexibility and mutual understanding.

Examples

• The couple reads and discusses the same books to align their thoughts.
• Melinda proactively learns about Bill’s projects to provide informed input.
• Their leadership of the Gates Foundation mirrors their shared values and balanced contributions.

4. Opposites Can Form Perfect Teams

Brian Grazer and Ron Howard show that being different isn’t a barrier—it's an advantage when paired with shared principles. Howard, the meticulous director, and Grazer, the charming deal-seeker, bring complementary strengths to their filmmaking and production ventures.

Despite their contrasting personalities, they’ve built a partnership based on trust and the understanding that they don’t always have to agree. They even embrace financial equality, splitting all profits 50/50, regardless of individual contributions.

Their long history of championing each other underscores their deep connection. Grazer, recognizing Howard’s untapped talent, supported his transition from actor to director, showcasing what true partnership is all about.

Examples

• Grazer managing Hollywood’s business side to let Howard focus on creativity.
• Their early collaboration on films like “Splash” laid the foundation for their joint success.
• Establishing Imagine Films Entertainment on principles of respect and profit-sharing.

5. Emotional Bonds Can Cultivate Lifelong Partnerships

Valentino Garavani and Giancarlo Giammetti turned a romantic connection into a decades-long collaboration. Giammetti’s sacrifices, such as giving up a budding architecture career, allowed Garavani to focus entirely on his fashion designs.

Their relationship flourished because Giammetti supported Garavani tirelessly, unbothered by the lack of public appreciation for his contributions. This division of labor, predicated on personal affection, enabled the duo to achieve legendary success.

Through shared goals and unwavering appreciation for each other’s roles, the pair continues to thrive. For Giammetti, love and respect outweigh recognition, reinforcing the idea that partnerships work best when ego is set aside.

Examples

• Giammetti stepping away from architecture studies to save Garavani’s design house.
• Giammetti’s behind-the-scenes support, such as planning shows and managing models.
• Garavani enjoying the spotlight while Giammetti ensured business stability.

6. Friendship Can Be a Business’s Strongest Foundation

Steve Rubell and Ian Schrager built Studio 54 on trust and an unshakable friendship. Their complementary personalities—Rubell’s charisma and Schrager’s business acumen—served as the bedrock of their success, despite their stark differences.

Their relationship was put to the test during a trial for tax evasion. Schrager was offered leniency in exchange for testifying against Rubell but refused, choosing loyalty over self-interest. Their shared values deepened their bond, allowing them to rebuild successfully in the hotel business after their legal troubles.

Though Rubell’s untimely death ended their partnership, Schrager’s enduring admiration for his friend fuels his continued success in the business.

Examples

• Rubell’s sociable persona contrasting with Schrager’s cautious and private nature.
• Schrager’s refusal to testify against Rubell during their trial.
• Cohesion in their post-prison ventures, including their flourishing hotel business.

7. Humility Eliminates Rivalry

Many partnerships fail due to ego clashes, but partners like Frank Wells, Charlie Munger, and Giancarlo Giammetti succeeded because of humility. They placed collective goals over personal recognition, enabling smoother collaborations.

In addition to personal traits, humility fosters environments where no one feels the need to "keep score." Tasks and responsibilities shift easily without causing friction. Partners end up supporting one another rather than competing for credit.

This mindset not only benefits individual projects and businesses but also leads to deeper and longer-lasting partnerships.

Examples

• Charlie Munger acknowledging Warren Buffett’s superior leadership abilities.
• Frank Wells turning down the CEO position to support Michael Eisner’s vision.
• Giancarlo Giammetti willingly working behind the scenes for Valentino Garavani.

Takeaways

1. Focus on trust and mutual respect in partnerships to build a solid foundation.
2. Balance skills by seeking partners with strengths that complement your weaknesses.
3. Avoid competition within your partnership by prioritizing shared goals over personal accolades.