5 IM­POR­TANT BUSI­NESS LESSONS

Lessons to learn from some of the world’s most suc­cess­ful com­pa­nies.

CLEO (Malaysia) - - SMART REPORT - By Kather­ine Teo.

Google

Net worth: Ap­prox­i­mately USD200 bil­lion

Lis­ten to your em­ploy­ees Google recog­nises that ideas can come from any­where, and the key to in­no­va­tion is to give peo­ple the chance to work on things that in­ter­est them. Said ex-CEO Marissa Mayer, “What you re­ally want to do is set up a sys­tem where peo­ple can feel like they can con­trib­ute to those ideas, and that the best ideas rise to the top... by demon­strat­ing that it’s go­ing to fill a re­ally im­por­tant user need.” The Walt Dis­ney Com­pany

Net worth: Ap­prox­i­mately USD103.96 bil­lion

Be­lieve in your pas­sion Mickey Mouse was cre­ated when Walt Dis­ney was at the low­est point of his life. “Mickey Mouse popped out of my mind onto a draw­ing pad 20 years ago on a train ride from Man­hat­tan to Hol­ly­wood, at a time when the busi­ness for­tunes of my brother and my­self were at low­est ebb and dis­as­ter seemed right around the cor­ner.” Dis­ney loved draw­ing so much that he took on jobs just to fund his pas­sion. The les­son here? If you are ta­lented, pas­sion­ate and be­lieve in your prod­uct, suc­cess is just a mat­ter of per­se­ver­ance.

Nike

Net worth: Ap­prox­i­mately USD67 bil­lion

Brand­ing is king Nike was one of the first sport­ing brands who be­lieved in en­dors­ing ath­letes. Its re­la­tion­ship with bas­ket­ball star Michael Jor­dan helped sell bil­lions of dol­lars worth of prod­ucts. Nike spent USD115.7 mil­lion last year on ads – a ridicu­lous amount of money – but Nike has USD24 bil­lion in an­nual sales!

Ap­ple

Net worth: Ap­prox­i­mately USD624 bil­lion

Stay fo­cused When Steve Jobs re­joined Ap­ple in 1997, the com­pany was on the brink of fail­ure. He re­alised this was be­cause the com­pany’s prod­uct line was too large and un­fo­cused. Jobs de­cided to dras­ti­cally cut Ap­ple’s prod­uct line to just four and fo­cus on qual­ity in­stead of quan­tity. This strat­egy worked and Ap­ple made USD309 mil­lion in profit the fol­low­ing year.

Her­mes

Net worth: Ap­prox­i­mately USD19.1 bil­lion

You don’t have to com­pete on price Her­mès is proof that if your prod­ucts are highly de­sir­able, you don’t have to com­pete on price. The clas­sic Her­mès Birkin bag comes with a price tag of around USD10,000 and one of the most ex­pen­sive Birkin bags, which was cov­ered with gold and di­a­monds, cost a whop­ping USD1.9 mil­lion. Her­mès knows that as a lux­ury fash­ion house, it was never about pric­ing their prod­ucts com­pet­i­tively. Rather, they branded the Birkin as more than just a bag — it rep­re­sents class, so­phis­ti­ca­tion and suc­cess for who­ever can af­ford one.

RITA ORA WITH HER HER­MÈS BIRKIN.

RAFAEL NADAL

YOU WILL NOT ONLY BE IN­SPIRED BUT FEEL RIGHT AT HOME AT GOOGLE’S OF­FICE.

KEYNOTE PRE­SEN­TA­TION

BY AP­PLE.

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