Ted Leonsis Explains “The Business of Happiness”

“Success and money are not the keys to happiness. It is the other way around. Happiness is the key to success,” explained Ted Leonsis.

By Dave Liss | August 10, 2010

"Success and money are not the keys to happiness.  It is the other way around.  Happiness is the key to success," explained Ted Leonsis.
 
Leonsis described his philosophy about achieving happiness in life and work during a Monday evening fundraising reception for the Loudon Education Foundation, a non-profit organization focused on educational opportunities for students in the Loudon County Public Schools.
 
Details on his principles for happiness are contained in a new book, "The Business of Happiness: 6 Secrets to Extraordinary Success in Life and Work." Proceeds from the book will be donated to Washington, DC homeless shelters and kitchens.

Ted Leonsis is known locally and nationally as one of the country’s premier businessmen and a pioneer in the Internet industry. From 1994 to 2006 he was instrumental in the phenomenal growth of America On Line (AOL) and held a number of executive positions at AOL, including Vice Chairman and President. During his time with the company, subscriptions jumped from 1 million to 18 million; revenues exploded from $115 million to $4.8 billion; he was responsible for launching AOL Instant Messenger (AIM).
His first business venture (while in his early 20’s) was Redgate Communications: marketing company that published catalogs on CD-ROMs. The company was sold to AOL for $40 million, mostly in stock.
 
A proud product of the public schools, Ted Leonsis is also a digital entrepreneur, documentary film producer and philanthropist.  He is also owner of the Washington Capitals, Mystics and Wizards, the Verizon Center and the Baltimore-Washington Ticketmaster franchise.  Another recent project is his founding and launch of SnagFilms, a company that brings documentary films to the web for viewing and sharing.
 
Raised by Greek Orthodox parents, his father waited tables and his mother was a secretary. He was the first in his family to go to college. While a student he sold shoes to supplement a scholarship at Georgetown University.
 
Mr. Leonsis opened his remarks by donating $10,000 for a new scholarship fund for Loudon County students.
 
His life and his philosophy are defined by a near death experience.
 
"People that are happy tend to have had a reckoning in their life, a situation that forces a person to take stock of their life, assess themselves and define new goals for their life and for achieving happiness," he noted.
 
"My moment of reckoning came during a flight where the plane I was on almost crashed.  Not being a very religious man, but being a businessman, rather than praying I decided to negotiate with God.  I promised that if I got through this flight alive I would dedicate my life to leave more than I take."
 
When he got off the plane he wrote a list of 101 things he wanted to accomplish in his life.  To date he has completed 86 items from this list. A core value of his belief system is that success is a result of strictly envisioning your goals and establishing metrics to measure your progress.  He also read, studied and questioned many people about how to achieve happiness.

After goal setting there are 5 practices or tenets of happiness that emerged from his study and life experiences:

1. Solid relationships and being a part of communities outside themselves. Happy people have solid relationships with family, friends and a variety of people in the workplace.  "Facebook, Starbuck’s and AOL Instant Messenger are all successful because they are about building communities.  The more communities you are apart of – the more likely you will achieve happiness and success."
2. Personal expression. People need a creative outlet apart from work to communicate and express their true self. "I blog. Some people sing or read poetry. Do something other than your work."
3. High levels of empathy.  Giving back to society is an investment, in you and in society.  "Last week I hosted President Obama at a Mystics game.  After the game my son and I worked with the cleaning staff to clean all the women’s bathrooms after the game. Leaders and companies with high levels of empathy are more successful.  You have to get out of the "I" and into the "we."
4. Pursue a higher calling. The happiest people and companies define a mission for themselves.  They establish a calling and a sense of purpose.  "Now I only participate in business with a double bottom line – doing well for others, the community and profitability.   The Caps have some great profit centers and also help to build the community and provide a life time of positive memories."
5. Express gratitude.  "No matter what circumstances life throws at you, happy people can always stop and appreciate everything all they have to be thankful for and appreciate.  This practice can stop a downward spiral and keep you humble and grounded."

The bottom line for Ted Leonsis is: "The happier you are, the more successful you will be."

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