Showing posts with label Mogul. Show all posts
Showing posts with label Mogul. Show all posts

Friday, October 7, 2011

Biggest Steve Jobs' Lesson: Perseverance


Wednesday, Steve Jobs passed away. He is the co-founder and former CEO of Apple, which he resigned from on August 24. He is the innovator behind some of the most revolutionary products of our time. There is a lot that can be said about Jobs; his history vast and filled with many lessons about business and ambition. But I’m not going to write about his entire life because many journalists have done a great job of doing this so far. Instead, I would like to reflect on the biggest lesson Steve Jobs experience has taught me: perseverance.

I was a freshman in high school when the iPod came out. At that time, I didn’t quite know who Steve Jobs was and lately, within the past few years, I have reveled in his presentations and the pieces of his past that I discovered. The most surprising part of his past is to learn he was ousted from the company he co-founded, Apple.  Apple was created in 1976. After some success, in 1983, Jobs hired John Sculley as CEO, an executive from Pepsico, hoping for a more refined managerial contribution.  In 1985, Sculley led the board to fire Jobs.

The college-dropout who started his dream was now shut out from that dream. There is no doubt that Jobs felt humiliated. In his 2005 commencement address to Stanford he stated:

I really didn’t know what to do for a few months. I felt that I had let the previous generation of entrepreneurs down – that I had dropped the baton as it was being passed to me… I was a very public failure, and I even thought about running away from the valley.

What did he do? Well, he placed one foot in front of the other and moved forward. Steve Jobs created NeXT Inc. The company introduced a computer with great software and as WSJ.com notes “its operating system would eventually become the foundation for OS X, the software backbone of today’s Macs, after Apple purchased NeXT for $400 million in December 1996.” At that time, Apple was suffering with “nearly $2 billion in losses in two years”. Thus, Jobs was brought back in 1997 as CEO with a $1 a year salary.

When he returned back to Apple, he restructured the company to focus on software and innovative products with great aesthetics. The iMac came out in 1998, the iPod in 2001, the iTunes Music Store in 2003 and the iPhone in 2007. The rest as we should all know is successful history and profitable present.

After years to reflect on his on past, this is what Jobs had to say about learning to deal with a very public firing:

I didn’t see it then, but it turned out that getting fired from Apple was the best thing that could have ever happened to me. The heaviness of being successful was replaced by the lightness of being a beginner again, less sure about everything. It freed me to enter one of the most creative periods of my life…

I’m pretty sure none of this would have happened if I hadn’t been fired from Apple. It was awful tasting medicine, but I guess the patient needed it. Sometimes life hits you in the head with a brick. Don’t lose faith. I’m convinced that the only thing that kept me going was that I loved what I did. You’ve got to find what you love.

As a 25-year-old woman faced with pressure to be everything the world often stereotypical defines as success, I already feel like I have moments of regret regarding my education and career. But then, I read about Steve Jobs and it lets me know that the best way to deal with failure, embarrassment, and dark moments is to move forward. Tap into the part of you that refuses to let others see you fall. I’m not saying that all of us will get fired and then rehired to start multi-billion dollar companies - there is only one Steve Jobs. The lesson is that whatever life has for you, you can still find as long as you don’t let bad experiences stop you. The best revenge is success from perseverance. The best legacy is picking yourself up.

If I could only thank Steve Jobs for one thing, it would be for teaching us a great lesson on perseverance. He will be missed immensely and never forgotten.


Thursday, April 14, 2011

Sam Nazarian Purchases Competitor and Becomes King of L.A. Nightlife


Sam Nazarian is a 35-year-old CEO of SBE, a hospitality, restaurant, and nightlife company in Los Angeles. “Nazarian now the West Coast’s Most Powerful Nightclub Operator” by Jessica Gelt reports, this week Nazarian purchased his competitor in the nightlife field, Syndicate, and with this purchase, “[he] has sealed his reputation as Los Angeles’ King of the Night”.

The article reports all together Nazarian heads 25 “hotels, restaurants, lounges, and nightclubs”. He plans on increasing this to 35 by next year, expanding beyond the California market, and, hopefully, being able to establish himself in London. The article also suggests that another goal is “towards an eventual public offering of the company”

While details of the purchase are not being released, former competitor and founder of Syndicate, David Judaken had nice words about SBE:

“It’s SBE’s industry to lose… They are truly going to be a powerhouse, and it’s just a function of how they maintain the existing businesses and roll out the new ones that will define their future”

Nazarian also had some words for LA times about his drive:

Thursday, March 3, 2011

Steve Jobs Surprises Everyone at iPad 2 Event


How great is Steve Jobs? He goes on medical leave and then shows up today at the unveiling of the iPad 2. It shocked everyone. Many people were standing by for any news of the event. At the appearance of Steve Jobs, it became breaking news, and apple’s stock rose by $3. Why did Jobs show up? According to the New York Times, Jobs responded “We’ve been working on this product for a while and I just didn’t want to miss today”

His appearance is significant as he adds power to the iPad 2’s unveiling. Considering other tablets have entered the market, Apple is facing competition this time around. Jobs, who is amazing at promoting his products, wanted to aid his product in the fight to be at the top. While Jobs might stay on medical leave, it's clear that he’s thinking about his company and products.

Steve Jobs is a great example of a CEO and innovator passionate about his business. The most important image of a business is its leader. A leader passive about its brand will never have a brand as good, powerful as one with an active, supportive leader behind it. The lesson from Jobs: Know your product, love your product, and stand by your product. 

Wednesday, January 19, 2011

Apple's Record Revenue and Steve Jobs' Absence


As most of you know, Steve Jobs has announced he’s taking a leave of absence, placing COO Timothy D. Cook as Apple’s leader.  Many are heartbroken by his leave and worried about the impact it will have on Apple. Amidst the announcement comes good news: Apple had an amazing quarter with $26.7 billion in revenue. I read two articles, “Apple sets new record with sales of $27 billion” by David Goldman and “Can Apple Find More Hits Without its Tastemaker?” by Steve Lohr about the revenue jump and Steve Jobs.

Apple’s record revenue is due in large part to the Holiday frenzy for the iPad and iPhone. Goldman notes the iPad’s tremendous success is attributed to its successful adaption within the business community. This is before the anticipated arrival of the Verizon iPhone, which is expected to sell millions more iPhones. All of this has been credited to Steve Jobs. Lohr exclaims that Jobs is an intuitive innovator, able to create phenomenal products without consulting traditional forms of market research, such as focus groups.

Saturday, January 1, 2011

OWN: The Next Biggest Part of Oprah's Empire Starts Today


As most of you know, today is New Year's Day and the debut of OWN: the Oprah Winfrey Network. OWN has gotten much press. Not only is it anticipated because it belongs to Oprah, it is the first personalized cable channel. It also a big venture. It is to replace Discovery Health channel, it is a partnership between Oprah and Discovery, and Discovery has invested about $200 million (as reported by Brian Stelter of NY Times). I read two NY Times articles, “Oprah’s Network is Her Highest Hurdle” and “Shaping a Network With Oprah’s View” both by Brian Stelter. Instead of giving summaries, I’m going to give some important points about OWN.

Oprah Has Planned This For a Long Time

Often celebrities are approached to simply give their name to a product. Even if some of those celebrities may have always wanted to enter into such a venture, most have not prepared for it. Oprah is a different story. According to “Oprah’s Network is Her Highest Hurdle”, she thought up OWN in 1992. She previous attempted a move into cable as the co-founder of Oxygen network. That didn’t go well for her and it was sold to NBC Universal. According to Oprah, the experience taught her: “don’t partner when you’re not allowed to be in charge and make a decision”. And in 2007, she partnered with Discovery to mold OWN. This has been a well establish goal and she has made efforts to make it happen.