The Standard CEO Dan McMillan Wants You To Take A Moment

Long before he accepted the position as president and CEO of the insurance and financial services company The Standard, Dan McMillan learned a hard life lesson as a basketball player at Linfield University.

A small forward with big dreams, McMillan had come to the school with the hope of getting real playing time. But the coach who had recruited him was no longer there and the new signal caller had different ideas.

McMillan was frustrated—angry even. But the new coach sat him down to explain the situation better. In that moment, McMillan learned a crucial lesson that he’d carry with him well into his professional career.

“How I handle this moment will determine my future,” McMillan recalled to me on a recent episode of the Corporate Competitor Podcast.

Early in his tenure at The Standard, McMillan explained, he was encouraged to pursue a leadership position within the company. He met with a supervisor, who was interviewing other candidates, too. In the end, McMillan missed out on that opportunity.

But in the difficult time, he remembered his experience on the court at Linfield. He reminded himself: How you handle this situation is going to determine a lot about how you move forward. Well, things have worked out just fine since then.

“I don’t know that I would have had that perspective in the absence of that prior experience,” McMillan admitted.  

Success, after all, is about vision. It’s about long-term sustainability. It never comes down to just one opportunity inhouse. It’s about keeping the faith that you’ll succeed over the long run.

“The most important decisions,” he says, “are the right people at the right time.”

McMillan talked about all this and more on the podcast, including:

• Don’t read your headlines. Dan’s basketball coach once told him, “I always recommend people don’t read their own headlines.” The message was clear and subtle to the talented player. Don’t let your ego get in the way of team play. And it’s another maxim McMillan has kept with him over the decades.

• A small gift goes a long way. At The Standard, the claims department is empowered to send gifts to their customers. If an employee senses the customer needs something extra (besides their insurance check), they can send something—a potted plant, a fruit basket. “You would not imagine the letters we get back,” McMillan says.

• Engage with stories. Dan knows that a good story can have a much bigger impact on a person than a bunch of facts and figures. It’s also better than any loud proclamation. If you engage people with what’s personal to you, it can bring big benefits. “That vehicle, if you will,” McMillan says, “is so crucial.”