The Times Herald (Norristown, PA)
Charles Schwab exec’s advice for managers
In “Pass It On,” AP beat reporters ask executives to share experiences and insights that will resonate with anyone managing a business.
Carrie Schwab-Pomerantz is Senior Vice President of Charles Schwab & Co. and daughter of its founder. The bank and brokerage firm is one of the largest in the U.S. Schwab-Pomerantz is a seasoned financial planner and financial literacy leader, having advised two presidential administrations on financial capability and written several books on personal finance. She also oversees Schwab’s corporate philanthropy and employee volunteer programs.
QWhat advice would you give your younger self about managing people or running a business? What did you learn from your early mistakes?
ANever underestimate the power of a strong network. Early on in my career, I was timid about networking. But as I slowly built my confidence, I started to develop a strong group of peers to lean on and get advice from. Also, don’t be afraid to seek out a mentor. Not only will you grow, but people are flattered to be asked about their experiences, so it’s a win-win situation overall.
QWhat have you learned about problem-solving over the years? What are the keys to tackling your most difficult challenges?
ANever make a decision in a vacuum, and leverage your strong network of partners and colleagues. When I’m facing a challenge, I seek out people who might have a unique insight or different point of view from mine. If you start by listening, the path forward usually becomes pretty clear.
QHow much do you pay attention to your competition, and what do you try to learn from them?
AIf you follow the competition too closely, you can get bogged down in the weeds. I try to stay focused on my mission, along with the right intentions, and don’t pay too much attention to outside news. For me, that’s a winning formula.
QWhat key things can a manager do in terms of workplace culture that separate a mediocre business from a high-performing one?
ASomething I’m proud of at Schwab is our workplace culture, which is centered around service — serving our ADVICE >> PAGE 8