As a young manager, I was involved in a significant crisis which had the attention of not only the partners in the firm but also its CEO. I, like many of my cohorts, was nervous about the crisis, its impact on our clients, and my employment status at the firm. There was a very senior partner who was tasked by the CEO to assume responsibility for navigating the firm through the crisis. It took us a year to work our way out of the crisis; and we all learned some valuable nuggets. I thought I was a good leader before the crisis. Now I realize how naïve I was in my assessing my leadership skills. That experience, while excruciatingly painful, was an inflection point in putting me on the path to becoming a better leader.

So the older I get the more I think about the lessons I’ve learned in my career. Oh, to go back in time and talk to my younger self about the boneheaded things I did. Sadly, my younger self probably wouldn’t have listened to any imparted wisdom (which I define as knowledge coupled with experience). I was recklessly confident—I didn’t think I would get burned by touching the stove, no matter how many before me got burnt.

Ah, the naivete of youth.

What I’ve come to realize is that learning hard lessons doesn’t mean I have to experience them first-hand. It’s far less physically, emotionally and financially painful to learn from others. This has led me to an important conclusion--there are two paths to wisdom. The first is experiential wisdom, where I know the stove is hot because I touched it. The second is inherited wisdom, where I believe someone with credibility when they tell me the stove is hot. I could have saved myself a lot of time, stress, and money if I understood and practiced inherited wisdom.

In my zeal to help those still climbing the career mountain, following are my 12 wisdom nuggets to help others avoid experiential wisdom and replace it with inherited wisdom.