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12 Things I’ve Learned from Steve Jobs about Business

  
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1. “The difference between the best worker on computer hardware and the average may be 2 to 1, if you’re lucky. With automobiles, maybe 2 to 1. But in software, it’s at least 25 to 1. The difference between the average programmer and a great one is at least that. The secret of my success is that we have gone to exceptional lengths to hire the best people in the world. And when you’re in a field where the dynamic range is 25 to 1, boy, does it pay off.” [1995]

“The problem is, in hardware you can’t build a computer that’s twice as good as anyone else’s anymore. Too many people know how to do it. You’re lucky if you can do one that’s one and a third times better, or one and a half times better… Then it’s only six months before everybody else catches up. But you can do it in software. As a matter of fact, I think that the leap that we’ve made is at least five years ahead of anybody.” [1994] This phenomena described by Steve Jobs, when combined with supply-side economies-of-scale and demand-side economies-of-scale, creates a lollapalooza. The existence of lollapaloozas in an environment where scaling happens digitally over networks means that digital businesses are nonlinear in terms of its outcomes. This point is so fundamental to any digital business today that the Jobs quotes above must come first in my list. Once the offering of a business is digital, even small advantages tend to lead to a “few winners-take-most-all” result.

The power law distributions that exist in business flow from this “few winners-take-most-all” phenomenon. The great wealth of a tiny number of technology business founders is one outcome of this phenomenon. As another example, both (1) the power law distribution inside a venture capital firm’s portfolio and (2) the power law distribution of financial returns between venture capitalists, are driven by digital businesses being part ofExtremistan. That financial outcomes tend to produce an unequal distribution of income is not a new phenomenon. The rich get richer phenomenon is at least as old recorded history. What is new is that digital systems are an accelerant of the Matthew effect (rich get richer) phenomenon. (more…)

The Real Leadership Lessons of Steve Jobs

  
Analysis, Education, Life
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Walter Isaacson follows up his biography of Steve Jobs with an “insanely great” piece in the April HBR.   He drills down on the factors that helped to catapult the legendary entrepreneur into an elite league of American business leaders, including Thomas Edison, Henry Ford, and Walt Disney.

The 14 factors listed below continue at Apple as part Jobs’ legacy, which is helping drive the stock on an epic run,  now up 67 percent since November 25th and adding $240 billion to the company’s market capitalization.  That’s a lot wealth creation — equivalent to 1.6 percent of U.S. GDP.  No wonder the animal spirits are running again.

1)    Focus;
2)   Simplify;
3)   Take Responsibility End to End;
4)   When Behind, Leapfrog;
5)   Put Products Before Profits;
6)   Don’t Be a Slave To Focus Groups;
7)   Bend Reality;
8)   Impute;
9)   Push for Perfection;
10) Tolerate Only “A” Players;
11)  Engage Face-to-Face;
12)  Know Both the Big Picture and the Details;
13)  Combine the Humanities with the Sciences;
14)  Stay Hungry, Stay Foolish.

Below are the first few paragraphs of the article with a link to the full article.   This is a must read, folks! (more…)

20 Amazing Life Lessons-Steve Jobs

  
Education, Life
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Don’t Wait

When the young Steve Jobs wanted to build something and needed a piece of equipment, he went straight to the source.

“He began by recalling that he had wanted to build a frequency counter when he was twelve, and he was able to look up Bill Hewlett, the founder of HP, in the phone book and call him to get parts.”
 

Make Your Own Reality

Steve Jobs learned early that when you don’t like how things are in your life or in your world, change them, either through action or sheer force of will.

“As Hoffman later lamented, “The reality distortion field can serve as a spur, but then reality itself hits.” – Joanna Hoffman, part of Apple’s early Macintosh team.

“I didn’t want to be a father, so I wasn’t,” Jobs later said, with only a touch of remorse in his voice.
 

Control Everything You Can

Steve Jobs was, to a certain degree, a hippie. However, unlike most free spirits of the 1960s-to-1970s love-in era, Jobs was a detail-oriented control freak.

“He wants to control his environment, and he sees the product as an extension of himself.” (more…)

You Have To Find What You Love

  
Education, Life, Video
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This is the most inspirational  speech I have ever heard. I know many of you want to be full time traders but somehow miss the courage to try it.

Yes, trading is hard at the beginning, some of you don`t have what it takes to be a great professional trader, but…the question I ask you is, “Do you want to be asking yourself this question for the rest of your life and wonder how it would have been?…”

Listen to this magnificent speech from Steve Jobs. It can be a life changer for you:

The 10 Best things Steve Jobs Ever Said

  
Education, Life
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How did one of the greatest entrepreneurs of the last 50 years think? How did he create one of the most successful companies of all time? Here are ten of the best things that he ever said . I believe they give us clues at identifying the next company that could have their stock become the monster stock of this decade.  As you read through these quotes does it make any other company come to mind besides Apple?

Steve Jobs Quotes:

“We’re gambling on our vision, and we would rather do that than make “me too” products. Let some other companies do that. For us, it’s always the next dream.” Interview about the release of the Macintosh (24 January 1984)

“Do you want to spend the rest of your life selling sugared water or do you want a chance to change the world? ” A comment he made in persuading John Sculley to become Apple’s CEO.

“You‘ve got to start with the customer experience and work back toward the technology – not the other way around.” May 1997, World Wide Developers Conference

“Being the richest man in the cemetery doesn’t matter to me … Going to bed at night saying we’ve done something wonderful… that’s what matters to me.”

“That’s been one of my mantras — focus and simplicity. Simple can be harder than complex: You have to work hard to get your thinking clean to make it simple. But it’s worth it in the end because once you get there, you can move mountains.” –BusinessWeek Interview May 1998

“It’s really hard to design products by focus groups. A lot of times, people don’t know what they want until you show it to them.” –BusinessWeek Interview May 1998

“Innovation distinguishes between a leader and a follower.”

“Quality is more important than quantity. One home run is much better than two doubles.”

“You can’t just ask customers what they want and then try to give that to them. By the time you get it built, they’ll want something new.” Inc Magazine

“Stay Hungry. Stay Foolish.”

In 1983, Steve Jobs Hosted Apple's Version Of 'The Dating Game' And Bill Gates Was A Contestant

  
Education, Video
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The year was 1983, and 28-year-old Steve Jobs was hosting an Apple event for his employees.

Jobs invited three software guys: Frank Gibbons of Software Publishing Co., Mitch Kapor of Lotus, and none other than Bill Gates of Microsoft.

All of the men are in their geek-chic uniform of khakis and polo shirts (the hoodies of yesteryear), to answer questions about their company’s relationship with Apple, all in the style of “The Dating Game”.

In the video below, you’ll hear only Gates’ answers, but those, of course, are the most interesting. The two seem almost chummy, and the crowd is completely entertained.

Jobs and Gates didn’t meet onstage again for almost 25 years after this event.

You’ll see that Bill Gates is really trying win that “date” in this game, but who does Jobs pick in the end? Watch and find out.

The Innovation Secrets of Steve Jobs

  
Analysis, Education, Life, LINKS
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No one can deny that Steve Jobs is very successful and runs a very successful company. As head of Apple (AAPL), he has provided numerous direct and indirect jobs (have you seen how many iPhone apps there are now?) and dozens of very, very popular and useful products.

The book The Innovation Secrets of Steve Jobs: Insanely Different Principles for Breakthrough Success by Carmine Gallo, presents a very clear road map to follow in Jobs’ footsteps, showing how to be truly successful in your occupation. Look at a few of the principles covered in the book:

Put a Dent in the Universe
Kick-Start Your Brain
Sell Dreams, Not Products
Say No to 1,000 Things

This book is especially useful to the self-employed, showing how to be more creative, have more effective work strategies, and become more successful.

The author had previously written the best-selling book The Presentation Secrets of Steve Jobs: How to Be Insanely Great in Front of Any Audience. He writes in a clear and concise manner with plenty of supporting anecdotes.

If you are looking for a good read that can help you achieve the success you want and deserve, get The Innovation Secrets of Steve Jobs. You won’t be disappointed.

Steve Jobs Refused Transplant of Tim Cook’s Liver

  
Analysis, Education
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The latest biography of the legendary tech-guru, Becoming Steve Jobs: The Evolution Of a Reckless Upstart Into a Visionary Leader, covers the different key phases of Steve Jobs’ life. Written by Brent Schlender and Fast Company executive editor Rick Tetzeli, the book also offers insights into Jobs’ closest friendships, epitomized by a heart-warming anecdote about his relationship with successor, Tim Cook.

Excerpts released from the book revealed that Cook, upset by his mentor’s struggle with cancer, offered him part of his liver in 2009. Although Jobs was terminally ill from a rare pancreatic cancer, he vehemently rejected the offer.

“He cut me off at the legs, almost before the words were out of my mouth,” Cook recalled. “‘No,’ he said. ‘I’ll never let you do that. I’ll never let you do that.'”

The incident, according to Cook, was a true testament to Jobs’ selfless nature. (more…)

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