Spend your political capital when you have it - otherwise it will disappear all on its own - and never leave people in any doubt about what you believe in.
These are among former prime minister John Howard's golden rules for political leadership in an age where it often feels like it's in depressingly short supply.
The Liberal elder statesman has teamed up with former Labor prime minister Julia Gillard to headline the judging panel of a new award on political leadership: the University of Melbourne's inaugural McKinnon Prize. The prize is aimed at rewarding - and encouraging - political leadership in an age of cheap populism and rampant distrust of the establishment.
In a new interview with the university's Pursuit publication, Mr Howard reflects on what he believes makes a good leader. He also contends that the last 10 years of leadership instability is partly due to the rise of political machine men who have "cavalier" attitudes to change.
Mr Howard draws on one of the most difficult periods of his early prime ministership: his crackdown on gun laws following the Port Arthur massacre.
"This was an enormous tragedy. It had instilled fear into the country. People couldn't believe that this had happened in Australia and I had this big majority. Now, what's the point of having a majority if you don't do something with it?" he said.
"One thing I've known about politics for a long time, is that when you inherit a lot of political capital, you can be certain of one thing, it will deplete. Now, you either deplete it through doing something effective, or you just watch it deplete.
"Because it will deplete. It's a law of nature."
One of the key hurdles to delivering the gun reforms - now almost universally regarded as one of Howard's most positive legacies - were the objections of many within the Coalition, particularly Nationals MPs who were getting smashed by their constituents.
So he had to build consensus: something else that seems harder than ever in today's hyper-partisan political environment.
"When you are a political leader, you are dealing with a series of concentric circles. There is the inner group, the cabinet, the parliamentary party, the broader party and the broader community and you have to have a relationship with all of them," he said.
The other principle of leadership he considers most important: conviction.
"I think the most important thing is to convey a sense of the attitudes and values and beliefs that you have. People want to know what a leader stands for, what he or she wants to achieve, and that is far and away the most important commodity," he said. "I often used to joke that I encountered a lot of people who would say I can't stand you, but I know what you stand for."
The McKinnon Prize judging panel also includes former Australian cricket captain, Adam Gilchrist; BHP Billiton chief executive, Andrew Mackenzie; one of the country's most respected and long-serving public servants, Dennis Richardson; Oxfam chief, Dr Helen Szoke; and constitutional lawyer, Professor Megan Davis. Nominations are still open.
