In business, as in anything in life, it’s always interesting to listen to others that have already walked down your path. Sometimes their insights will be revealing, other times cautionary tales of what not to do.
I’m a big fan of quotes, I like to inspire myself (and others!) with businessmen that I admire. Here are some of my favorite ones.
“Show me the money!”
— Tom Cruise, Jerry Maguire
Our operators are relying on us, even shouting at us as the parent company, to do everything in our power to “show them the money.” How can we make that happen?
“The best way to predict the future is to create it.”
“The purpose of business is to create and keep a customer.”
— Peter Drucker, legendary management consultant
This is what complementary branding is all about. Taking a calculated risk to better serve your customers.
“I cannot understand why people are frightened of new ideas. I’m frightened of the old ones.”
— John Cage, American composer
In any brand, one out of every three franchisees is willing to jump at the opportunity to do something new. If you allow the best operators among this 33 percent to pilot test a complementary brand—provided that it meets the proper criteria—there will be another 30 to 40 percent who will be on board once they have validation from their peers. The bottom 25 to 30 percent might never go for the complementary brand; they are either too comfortable or too stubborn.
“Where are you placing your really big bets?”
— Jim Collins, author
In complementary branding, I bet on the day-part branding business model of adding a “secondary ‘Guest’ brand within a primary ‘Host’ brand.
“Innovation distinguishes between a leader and a follower.”
— Steve Jobs
Step out of the track of good and go for great. Be the leader, not the follower.
“Your work is going to fill a large part of your life, and the only way to be truly satisfied is to do what you believe is great work. And the only way to do great work is to love what you do. If you haven’t found it yet, keep looking, and do not settle. As with all matters of the heart, you’ll know it when you find it.”
— Steve Jobs, Apple
I’ve been extremely fortunate to have stepped into an industry I love many years ago. If you haven’t found work that you are passionate about, take a chance and explore other opportunities. Like Jobs said, we spend too much time at work to do something we don’t love.
“If I had asked people what they wanted, they would have said ‘faster horses.”
— Henry Ford
Innovation comes from looking for new ways to satisfy a need. Don’t get stuck in everyone’s mindframe, you have to step outside of what is expected to produce great results.
“Innovation is hard. It really is. Because most people do not get it. Remember, the automobile, the airplane, the telephone, these were all considered toys at their introduction because they had no constituency. They were too new.”
— Nolan Bushnell, founder of Atari and Chuck E. Cheese’s
Don’t be afraid of being laughed at. Don’t let some people’s opinions keep you from doing what you believe in. Success will come to those that push through.
“Successful people ask better questions, and as a result, they get better answers.”
— Tony Robbins, author, professional speaker
The only dumb question… right? But to ask better questions, you have to listen more, to study more, to be more prepared. Be the most prepared in the room and you’ll get the most out of any situation.
“Money isn’t the most important thing in life, but it’s reasonably close to oxygen on the ‘gotta have it’ scale.”
— Zig Ziglar, author and motivational speaker
Everything brands do—marketing, operational execution, producing great-quality products customer will buy—comes down to the practical goal of creating a profitable enterprise that returns substantial profits to the shareholders. Don’t lose sight of this.
“My business was $4 million my first year. . . off of one $20 item.”
— Sara Blakely, billionaire founder of Spanx
Don’t underestimate the power of any product. Ay product, if it’s a good one and you know how to make it profitable, can make you rich.
“Here’s to the crazy ones. The rebels. The troublemakers. The ones who see things differently. While some may see them as the crazy ones, we see genius. Because the people who are crazy enough to think they can change the world, are the ones who do.”
— Apple “Think Different” campaign advertising copy
Don’t be afraid of your ideas, especially if they are different from the status quo.
“Do what you do best, and outsource the rest.”
— Dr. Peter Drucker, a management consultant, educator, author, and winner of the Presidential Medal of Freedom
Don’t spend precious time and big dollars creating and adding a new complementary day-part product when one is already available. Spend time negotiating a deal with a complementary brand, rather than spending time and money on research and development.
“The currency of real networking is not greed but generosity.”
— Keith Ferrazzi, founder, CEO, Ferrazzi Greenlight
Sharing is caring, as one might say. Sometimes sharing your knowledge will lead you to unimaginable success and good karma.
These are just some of the many business quotes that have guided my career. Armed with the words of many successful businessmen before me, I have been able to forge a great professional path for myself doing something I love. What are some of your favorite quotes?