How to Create a Great Company By Steve Jobs

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By Jatinder Singh, Associate Partner, Lighthouse International

This interview below with the late Steve Jobs shows why Apple gives such prominence to developing new products and giving designers such as Sir Jony Ive greater responsibility than is usually seen in other companies. The video encapsulates Jobs' wisdom, experience and brilliance in business so simply and succinctly.

Discussed in the context of the challenges faced at Xerox, Jobs discusses why some businesses thrive and some don’t because of how leaders see the various people and departments within the organisation.

Jobs explains that because Xerox (and Pepsi) had large market shares and dominant positions, they were more concerned about how to sell their products and hence gave greater prominence to people in sales and marketing. This resulted in very few new products being developed within those companies, which as a natural consequence eventually lead to product staff going elsewhere and helping other companies create great new profitable products instead!

The lesson is that if you only focus on sales and increasing revenue while forgetting your core service of genuinely adding value and serving customers, your business is bound to come up short at some point. Increasing sales is vital but even more vital is the value you are adding. Enjoy the video...

What companies do you admire and why?

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Steve Jobs image courtesy of Wikimedia