At 50 (or more) years old, a leader has something uniquely valuable to offer. A few successes, plenty of failures, experience following others, know-how from opportunities to lead, and a view of the race from several laps in all add up to perspective. What does this age group understand that is worth sharing?

1. A discussion with other leaders is more valuable than leadership theories.
This isn't a suggestion to set down that new book or cancel that conference registration; there is still immense value in learning. But no author or speaker will address the nuances of your situation. So find a person or two to engage in full conversations about real situations—and let the learning-that-results-in-doing begin.

2. A leader develops other people in the organization. Sometimes this involves teaching the ways of leadership and organizational application to quite a few folks who show rising promise; other times it might just be one or two. Wisdom, though, mimics love—the true ...