Building PREMIER Leaders

Do you know why October 16 is National Boss’s Day? In 1958, a secretary at State Farm Insurance in Deerfield, IL, decided we needed a day set aside to appreciate our leaders and all their hard work. She registered National Boss’s Day with the U.S. Chamber of Commerce and the rest is history. What’s the significance of October 16? It was her father’s birthday, who also happened to be her boss. Thanks to her creative birthday gift, we have a day set aside every year to show our appreciation to the person we call “Boss.”

I’m very fortunate to have many great leaders and mentors in my life. In honor of Boss’s Day 2020, I asked two of them, First PREMIER Bank CEO Dana Dykhouse and PREMIER Bankcard CEO Miles Beacom, to share what they have learned during time leading the PREMIER organization.

How did you learn to be a good leader?

Miles: I learned by observing others, my father, Coach Rich Greeno and all my different managers at Citibank. I put into practice what I considered their leadership strengths and avoided what I identified as a weakness. Being a good leader doesn’t just happen. It’s not a short-term thing. You have to be willing to watch and learn and change. You always have to work at it and be ready to do the right things consistently over time.

Dana: I have benefitted from the wisdom, guidance and support of many mentors during my career. The key has been to ask questions of people with experience and knowledge. Most are willing to share their perspectives on an issue or challenge you are facing, and their insight can be helpful as you chart your course. You learn to be a leader by studying, observing and talking to other leaders. You must be willing to invest the time to study, practice, elevate and repeat, repeat, repeat!

You have led PREMIER through an incredible period of growth. How have you changed as leaders as the organization has grown?

Dana:  People are always people whether your team is 10 or 1,000! Personally, I have needed to move from direct supervisor of functions and tasks to more coaching and supporting of the culture of leadership we strive to develop at PREMIER.

Miles: Even with our tremendous growth, we’ve prioritized keeping the small company mentality. That means we’re getting out there and talking to our teams. We’re listening to their concerns and showing our appreciation to them. We’re visible and accessible to everyone. Like Dana, I have needed to give up a lot of the day-to-day decision-making, which has not been easy. But it has gotten easier as we continue to build the right team to take PREMIER to the next level.

What is the most valuable lesson you have learned over the years?

Miles: To continue to do the right things. The right things for our PREMIER team, our customers and our community. It would have been easier to take a short cut during difficult times, but our focus is and has always been to do the right thing for our long-term success. Do not take a short cut for a short-term win. You will hurt the company in the long run.

Dana: One of the best lessons was from a mentor who said, “Dana, be certain your best friend doesn’t work at this bank.” What he was saying was as a leader/supervisor, you need objectivity in the moment. You can be friendly with your staff and peers but be certain your best friends do not work with you. You need those individuals in your life outside of work for proper balance.

Miles: When I was young, I was more of a watcher and listener. I believe that has paid huge dividends to me. I still enjoy watching how people interact in the good times and the challenging times. I enjoy listening to others. I believe their ideas/recommendations are important. I like to hear all the recommendations before I decide.

Do you have a particular “defining moment”?

Dana: When offered the job as President and CEO of First PREMIER Bank (a very troubled bank at the time), I asked five people I respected their opinion of the job. Four said, “Don’t take it, too much risk. Stay in your current, comfortable position.” One said, “Ask yourself if you have the skills, experience and passion for succeeding at the job and if so, take the risk.” I evaluated and took the chance and have been happy ever since. No regrets, I’d do it the same way again.

Miles: I tell our owner/founder that his hiring of Dana Dykhouse was the best decision he ever made. I would not change a thing! If I could go back and have a conversation with Miles and Dana in 1995, I would say, “You will be faced with significant opportunities and challenges. You both, along with your team, have tremendous potential. To accomplish this, you must do the right things for your team, customers, and community. Oh, and don’t forget to have fun doing it!”

What advice do you have for future leaders?

Dana: Be consistent with your approach, reliable in your actions, focused on your goals and you will be successful.

Miles: Never put yourself on a pedestal. No one is any better than anyone else on the team. You will succeed by working together. Be sure to over-communicate! I have never heard of a company communicating too much. The entire team wants to be part of the success, share the good along with the challenges.

Dana: Learn from your mistakes and build on your successes. Learn to be flexible, diagnose the situation and choose which leadership style is appropriate for the time, place and people involved. Be the best at every job/task you have on your career journey and doors will open for you!

Miles:  In my almost 30 years and Dana’s 25 years at PREMIER, we have not only had tremendous success, but we have had some considerable challenges. Without those challenges, I don’t think we would enjoy our successes as much. As First PREMIER Bank President Dave Rozenboom says, “Our accomplishments in the past are truly phenomenal, but that was just building the foundation for our future SUCCESS.”

Dana: The key to that success – our team of PREMIER performers and emerging leaders.

First PREMIER Bank. Member FDIC.