GoKawiilKey Takeaways Former Goldman Sachs CEO Lloyd Blankfein says that many highly successful people are not prodigies; they simply spotted and seized chances that others overlooked.
He says that success is less about genius and more about consistently applying yourself with hard work.
Blankfein’s own story from Brooklyn public housing to Goldman Sachs’ top job illustrates his point.
Former Goldman Sachs chief executive Lloyd Blankfein is pushing back on the idea that workers need an impressive IQ to make it. He says that his own rise from the trading floor to the top of one of the world’s most powerful banks proves that success depends far more on hard work than on raw genius.
“I’ve met people who’ve worked hard, who’ve done well, who had lucky opportunities, and — give them credit — they took advantage of those opportunities, but they weren’t geniuses,” Blankfein recently told CNBC International. “They just applied themselves, they had their ears open, they had curiosity about the environment around them, and they saw things, and they went through little doors that other people wouldn’t have seen.”
Reflecting on his early years in finance, Blankfein shared a story that drove this point home. He spent years at J. Aron, a small commodities trading shop inside Goldman Sachs, trying to prove the business could be much bigger. He noticed a sharp culture gap: Many J. Aron employees were scrappy and didn’t have college degrees, while Goldman was packed with Ivy League grads.
That contrast gave him “a chip on his shoulder” about J. Aron employees. They “worked harder, took a little less for granted and were much more curious about learning,” Blankfein said.
Lloyd Blankfein, former chief executive officer of Goldman Sachs. Photographer: Michael Nagle/Bloomberg
The importance of hard work
Hard work can matter more than an impressive diploma or background. Blankfein said that standout careers are there for the taking if people step up, spot openings and put in the effort.
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