Learning money's language: they say money talks, and learning this "foreign language" creates successful leaders

University Business, March, 2005 by Karen Gross

If money is indeed a language that can be learned, then there is a further significant benefit for leaders who learn it. In addition to increasing revenue, they will become better leaders. William Durden, the President of Dickinson College (Pa.), once observed that the skills needed to learn a foreign language are the ones needed to be a successful educational leader--composing and translating a story, remaining open to new cultures, perspectives and opportunities, and receptivity to change.

I think he is right. Learning the "foreign" language of money will do more than raise dollars and cents; it will also help leaders communicate the values of their institution. And, that is a benefit of unquantifiable value.

Karen Gross is a professor of law at the New York Law School and is president of the Coalition for Consumer Bankruptcy Debtor Education (www.debtoreducation.org).