In Chapter 4 of 13, Goldman Sachs taught Phil McKenzie attention to detail. More specifically, McKenzie learned to define
and execute rigid, shortcut free, operational procedures to maintain a high performance level in his trading floor environment. Phil joined Goldman Sachs after graduating from Duke University's Fuqua School of Business with his MBA.
Tags:Personal Lessons From Working at Goldman Sachs,business empowerment,captureyourflag,career development,erik michielsen,lessons from floor stock trading,personal accountability skills,phil mckenzie,work transferable skills
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Erik Michielsen: What were the greatest takeaways from the Goldman Sachs experience?
Phil McKenzie: If you don’t have attention to detail, they’re usually laced to an error and error is never going in your favor. The second thing that there are no shortcuts, there’s no ability to get to where you want to be by taking shortcuts. And the firm has a lot of procedures and steps and just toward doing things the right way. And so you learn that you know, you just can’t take a shortcut, you know you can’t say to yourself, “Oh I’m not going read research because you know I don’t have time for that it’s not going to come up”.
It’s, of course it’s going to come, it’s going to come the next day. You know and you just didn’t know it.
Erik Michielsen: Well imagine like, you know, I have an incredible library of books, they’re all clip notes.
Phil McKenzie: Yes, exactly.
Erik Michielsen: That’s not going to cut it.
Phil McKenzie: It does, it doesn’t cut it, you loose something in a translation when you try to take shortcuts. Everything is a process of operations and procedures and the better you tackle those operations and get them streamed line, the more efficient you will be and therefore the more successful.
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