Recently, Duke University basketball coach Mike Krzyzewski turned down a lucrative offer to become the Los Angeles Lakers’ basketball team's head coach. In saying "thanks but no thanks," Krzyzewski, who spent 24 years building Duke's team into one of the most successful and well respected of all time, spurned a $40 million contract and the potential for the type of fame, fortune and recognition one can enjoy only in a place like Hollywood.

In rejecting the offer, Coach K, as he has affectionately become known throughout college basketball, summed up his decision with the simple statement that, "Your heart has to be in whatever you lead."

The simplicity of that statement belies its truth, both in life and business. A parent who does not love his children cannot lead them in the ways that will best prepare them for life in a difficult world. A preacher who does not have a great love for God and God's people cannot lead them in a way that will be most helpful to them. A teacher who does not love her students cannot lead them in ways that help encourage the character and brainpower they will need to be successful in life. A Lifestyle CEO cannot lead her business and family effectively, and with compassion and fortitude, unless she has a great love for both of them.

While Coach K is not a Lifestyle CEO in the sense that he owns his own business, he certainly is one in the sense that he is the chief architect of one of the college basketball's most well known, respected and successful teams. Coach K boasts a 621-179 record in 24 seasons at Duke, and led the team to national championships in 1991, 1992 and 2001. Under his leadership, the Duke Blue Devils have 10 Final Four appearances, eight Atlantic Coast Conference tournament championships and 10 conference regular-season titles. As Coach K said in announcing his decision, "It became apparent that this decision was somewhat easier to make because you have to follow your heart and lead with it.” In sum, while the coach may have blinked a few times at the financial incentive, the bottom line was that his love for Duke University and the basketball tradition he established there were far more important to him that the glitz of coaching the most recognized franchise in basketball history and the chance to work closely with basketball talents like Kobe Bryant and Shaquille O'Neal. 

For Coach K, the hold that Duke has on his whole heart is undeniable. In fact, according to him, "it has no price." While it's doubtful that he would have stayed at Duke without the benefit of the handsome salary and benefits he enjoys there, the fact remains that he could have had the potential for much more of both if he had accepted the Lakers' offer. Following his heart and being content to do what he loved on his own terms took precedence.

It's the same way with those Lifestyle CEOs who have left well paying jobs to become their own bosses. Sure, staying with the status quo may have been more financially appealing, but doing what one loves on his or her own terms offers far more long term satisfaction. While Coach K could have coached anywhere, and would likely have been a success doing so, he chose to follow his heart and practice his love for coaching basketball on his own terms. To do what you love to do, and to do it on your own terms. As Coach K knows, that has no price.

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