I don’t criticize, I believe in giving a person incentive to work instead.

This is from a man who earned over a million dollar a year when someone earning fifty dollars a week was considered well off. “I consider my ability to arouse enthusiasm among my people,” sais Schwab, “the greatest asset I possess, and the way to develop the best that is in a person is by appreciation and encouragement. There is nothing else that so kills the ambitions of a person as criticisms from superiors. I never criticize anyone.[…] So I am anxious to praise but loath to find fault.” -Charles Schwab *Charles Schwab was one of the first people in … Continue reading I don’t criticize, I believe in giving a person incentive to work instead.

Excess of money, plans or technology will lead any business to failure

Asking what leads to success is misleading. You can’t copy success because there’s a million different factors (combination of luck, timing, context, etc.). Instead you should ask: “What are the keys to failure?” Because those are always the same. There are 3 things that will kill any company if in excess: Money Plans Technology Alibaba had that internal motto: “No money, no plan, no technology”. Money Money makes people stupid. When problems arise, the first instinct becomes “throw money at it” instead of attacking it with creativity. And this works sometimes. But it becomes this crutch that you can never … Continue reading Excess of money, plans or technology will lead any business to failure

How to react to someone making a mistake…

Bob Hoover, a famous test pilot and frequent performer at air shows, was returning to his home in Los Angeles from an air show in San Diego. As described in the magazine Flight Operations, at three hundred feet in the air, both engines sunddely stopped. By deft maneuvering he managed to land the plane, but it was badly damaged although nobody was hurt. Hoover’s first act after the emergency landing was to inspect the airplane’s fuel. Just as he suspected, the Word War II propeller plane he had been flying had been fueled with jet fuel rather than gasoline. You … Continue reading How to react to someone making a mistake…