Build to Last

Build to Last - Successful Habits of Visionary Companies - A Comprehensive Summary

PART 1: WHAT IS A VISIONARY COMPANY? HOW CAN WE MAKE OUR COMPANIES BECOME VISIONARY?

Creating a visionary company often does not require a great product idea or even a charismatic leader. Many companies initially start with a great leader or a fantastic product, but after a short time, they struggle to reach their potential. Many of those companies, which undoubtedly started out successfully, have unfortunately started with a rather vague concept about what the company would do. They did not have a vision for the primary goal of the company.
Instead of seeing a visionary company as a vehicle for a new product, it is a lot more accurate to see the products as a vehicle for the company. When we observe things from this perspective, we will easily conclude that the company persists beyond anyone specific idea, which can be either good or bad.
Many visionary builders of companies have one common trait: they are very persistent. They will be willing to revise or improve any idea that did not work out in practice. They also never give up on the company or its future.
If a company’s success depends on the success of the first product alone, there will be problems. These problems will need to be solved. If a company’s product fails, many people will give up on the entire company. However, if the product proves to be successful, the company could be tempted to stick with that product for too long.

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