If the only common thread you have as an industrial company is the fact that you think you're well managed, you can still be a pretty good company, but you're not going to be a dominant company, a competitive company over time.
My entire career has been pivoting from company to company. Some people call it lack of planning or direction, I call it flexibility and good improvisational skills.
When you're in a start-up, the first ten people will determine whether the company succeeds or not. Each is 10 percent of the company. So why wouldn't you take as much time as necessary to find all the A players? If three were not so great, why would you want a company where 30 percent of your people are not so great? A small company depends on great people much more than a big company does.
Beats is inherently different: the company is a consumer electronics company but also a media company; a packaged goods company but also an entertainment company.
If a company is not doing well, it doesn't necessarily mean that it is not a good company.
Once a company develops out of its consumer base, you will often see a well-funded multinational company come in and take over that space. The black-owned company either stays a niche company or just disappears. This is something we don't want to happen.
Those who decide to use leisure as a means of mental development, who love good music, good books, good pictures, good plays, good company, good conversation - what are they? They are the happiest people in the world.
Why are we here? I think many people assume, wrongly, that a company exists solely to make money. Money is an important part of a company's existence, if the company is any good. But a result is not a cause. We have to go deeper and find the real reason for our being.
A good company delivers excellent products and services, and a great company does all that and strives to make the world a better place.
If I ran the whole place like it was my way or the highway, we would not be as good a company. I'm going to have mistakes - they'll be made on my watch and will embarrass me. But I'll also make sure the company learns from them so it can become a better company.
You know, I'm behind my company. My company has been a big part of my life. And it's not that I been buying a company or that my father bought a company and tried to do something out of it. You know, it's not the same thing. It's my name, it's my company, it's my signature.
I never said that I wanted to be the only company, is it my fault that I ran my company well? Wouldn't you want the best for your company? Also consider that I started of small.
If you exclude a group of people from the boardroom or the leadership ranks of a company, the company is not as good as it could be.
Take a company like GM. For years, people were warning its execs that the company was too dependent on big SUVs and trucks, that it was falling behind other companies in innovation. A lack of knowledge wasn't the problem. And mothers and fathers everywhere try to warn their kids that maybe a giant tattoo isn't such a good idea. Good luck in that fight, Knowledge.
I'm thinking, That's Barack Obama. He doesn't go to work. He doesn't go down to Congress and make a deal. What the hell's he doing sitting in the White House? If I were in that job, I'd get down there and make a deal. Sure, Congress are lazy bastards, but so what? You're the top guy. You're the president of the company. It's your responsibility to make sure everybody does well. It's the same with every company in this country, whether it's a two-man company or a two-hundred-man company... . And that's the pussy generation - nobody wants to work.
In an ironic twist, I now see Good to Great not as a sequel to Built to Last, but more of a prequel. Good to Great is about how to turn a good organization into one that produces sustained great results. Built to Last is about how you take a company with great results and turn it into an enduring great company of iconic stature.