MPW Insider is one of several online communities where the biggest names in business answer timely career and leadership questions. Today’s answer for: What advice would you give someone going into a leadership position for the first time? is written by Adena Friedman, President of Nasdaq.
Many women try to advance in their careers by having all the answers; by being the go-to person for information and advice; or by building expertise in a particular field. However, as they progress, gain broader responsibilities, and grow into leadership roles, they realize that their span of control is too vast to be able to know every answer. It is no longer possible to be the go-to person in every situation, and suddenly, they have to be the one who is asking the questions rather than answering them.
So what is one skill that all aspiring leaders should develop? The power to listen. Listen to clients, employees, and peers and stay open to their ideas, feedback, and answers. Doing so is vital to the success of any leader. A leader who listens is one who is malleable and willing to refine her views and actions as she learns new information or hears a better idea.
Listening is also a powerful mentoring tool; being listened to is both fulfilling and motivational. Empowering those around you to be heard and valued makes the difference between a leader who simply instructs and one who inspires. Leading the organization based on what you learn from those you value is what I have found to be both among the more difficult and rewarding parts of becoming a leader.
Read all answers to the MPW Insider question: What advice would you give someone going into a leadership position for the first time?
Why you should be more friendly at work by Mary Civiello, President of Civiello Communications Group.
4 reasons to ditch the ‘corporate mold’ by Kathy Collins, Chief Marketing Officer, H&R Block.
10 tips for survival when you’re the new boss by Debby Hopkins, Chief Innovation Officer at Citi.
Why every new leader should take Lupita Nyong’o’s advice Gloria Larson, President of Bentley University.
Why I’m proud to be gay — at home and at work by Beth Brooke-Marciniak, Global Vice Chair of Public Policy at Ernst & Young.
Why great doers don’t make great leaders by Liz Wiseman, President of Wiseman Group.
3 things you can learn from your worst boss by Lauren Stiller Rikleen, President of Rikleen Institute for Strategic Leadership.
One CEO’s cheat sheet to the top by Kathy Bloomgarden, CEO of Ruder Finn.
3 ways to think like a leader by Alyse Nelson, CEO and co-founder of Vital Voices Global Partnership.
What the best bosses can learn from mountain ski guides by Susan Coelius Keplinger, President and COO of Triggit.
The one quality all leaders must have by China Gorman, CEO of Great Place to Work Institute.
Barbara Bush: 4 tips for aspiring leaders by Barbara Bush, co-founder of Global Health Corps.
Watch more career tips from Fortune’s video team: