#25: How Great Leaders Think - Integrity, Impact & Making Things Happen

Overview

This episode dives into the leadership principles and decision-making frameworks of Mike Maughan, exploring his journey from Qualtrics to Smith Entertainment Group. The conversation covers the transformation of Salt Lake City’s urban core, the importance of integrity and humility in leadership, and the power of solving meaningful problems over chasing passions. It also highlights the creation of impactful initiatives like Five for the Fight and the process of bringing an NHL team to Utah.

Notable Quotes

- In life, to really set yourself apart, you have to be 10 times better or different. And it's a lot easier to be different than it is to be 10 times better. — Mike Maughan, on standing out in business and life.

- Work hard and be kind. And amazing things will happen. — Mike Maughan, quoting Conan O’Brien on the essence of success.

- Life was not meant to be understood. It was meant to be felt. — Mike Maughan, on living fully and helping others do the same.

🌆 Transforming Salt Lake City’s Urban Core

- Mike Maughan discusses the $3 billion project to revitalize downtown Salt Lake City, emphasizing the importance of investing in urban cores to prevent decay and create ripple effects for suburban areas.

- The project integrates sports, culture, and convention spaces, leveraging “singular entities” like the Utah Jazz and NHL team to anchor the city’s future.

- Maughan highlights the unique opportunity to create a physical space that draws people together in an increasingly digital world.

🤝 Leadership Built on Integrity and Impact

- Maughan’s decision-making framework centers on three criteria: working with good people, pursuing interesting challenges, and creating impactful outcomes.

- He stresses the importance of integrity, defining it as the moral courage to align actions with one’s knowledge of right and wrong.

- Toxic environments and narcissistic individuals are identified as major barriers to success, with Maughan advocating for collaboration and a focus on “getting it right” over “being right.”

🧠 Ego and Humility: The Leadership Balancing Act

- Great leaders, according to Maughan, balance high ego (confidence in their vision) with high humility (openness to feedback and collaboration).

- He praises leaders like Ryan Smith for their ability to dream big, listen to others, and foster inclusive, low-drama environments.

- Maughan emphasizes the importance of pivoting and adapting, noting that the best leaders know when to change course without losing sight of their goals.

🎗️ Building Five for the Fight and Meaningful Causes

- Five for the Fight, a cancer research initiative co-founded by Maughan, invites individuals to donate $5 to fight cancer, democratizing philanthropy.

- The initiative became the first cause-related jersey patch in North American professional sports, raising $50 million and partnering with institutions like Huntsman Cancer Institute.

- Maughan underscores the power of aligning business with purpose, noting that doing good can amplify both impact and brand visibility.

🏒 Bringing the NHL to Utah

- Maughan recounts the 174-day effort to bring the Utah Mammoth NHL team to Salt Lake City, emphasizing teamwork and the principle of “Who, Not How” to achieve ambitious goals.

- The team’s introduction event filled an 18,000-seat arena, showcasing Utah’s enthusiasm for hockey and validating the risk of expanding into a new market.

- Community obsession is a core value, with decisions made to benefit the region long-term and foster a sense of belonging among fans.