5 Most Useful Business Lessons from Famous Leaders
With so many fantastic leaders in the business world, there are a number of business lessons from famous leaders that we can take on board. Leaders who have stood the test of time such as Richard Branson and Howard Schultz provide us with some wonderful lessons when it comes to operating a business and setting it up for success. If you’d like to know how to ensure your business is set up for the long run, read the below five useful business lessons as a great starting point:
1. Jeff Bezos – Never stop innovating
Bezos was quoted to say “If you double the number of experiments you do per year you’re going to double your inventiveness”. No matter what stage you are at in your career or business venture, innovation will never become less important. For continued business success, a firm focus on innovation will help to ensure longevity of the venture.
2. Steve Jobs – Always be passionate
Did you know that Jobs had a yearly salary of $1? This therefore means that his focus was not on money, but instead his passion for what he was doing. If you truly enjoy what you do, then you will naturally work harder and be more likely to succeed. The lesson here is to do what you love, rather than for the money or status. In turn, your passion is likely to result in great success.
3. Richard Branson – Put your employees first
As we hear time and time again, our employees are our biggest assets. One of the most important business lessons from famous leaders such as Branson is recognising the importance of our staff. When asked by Inc. Magazine, Branson explained that the happiness of his employees is his number one focus. “It should go without saying, if the person who works at your company is 100 percent proud of the brand and you give them the tools to do a good job and they are treated well, they’re going to be happy” he said.
4. Anne Mulcahy – Good leaders listen
As a leader, if you aren’t willing to listen to suggestions from customers, employees or other experts, then you will never better your company. Taking the time to listen to feedback helps to spark innovation as well as fix any issues. It is therefore no wonder why Anne Mulcahy of Xerox insists that all good leaders listen, and really consider all suggestions presented to them.
5. Howard Schultz – Don’t settle for less
Schultz argues that when you have a dream, follow it, and don’t settle for anything less than you want. Keeping a firm focus on the outcomes you would like to achieve will help shape your business. No matter how successful you become, always remember the dream you once had, and keep your priorities in mind,
What do you think?
Can you suggest any other business lessons from famous leaders to add to the list? There are plenty of fantastic leaders out there, so I’m certain that there are other admirable qualities that we can study. Feel free to comment your views below and join the AIB conversation.
This article was written by Laura Hutton on behalf of the Australian Institute of Business. All opinions are that of the writer and do not necessarily reflect the opinion of AIB. The following sources have been used to construct this article: KissMetrics and Inc Magazine.