Steve Jobs is surely one of the world’s most respected business leaders. He has built an iconic brand in an industry most of us affectionately call ‘geeky’ gathering millions of loyal ‘paying’ customers in the process.
While Steve himself is elusive and rarely gives interviews, there is a lot written about his leadership style, his business acumen and key points of difference. So what are the key differences in Steve Jobs’ story that a small business owner can learn from and adopt into their business?
Change your marketplace!
Instead of trying to keep up with the Jones’, Steve has used a very deliberate strategy to make market leading products – before the market knew they needed them. All IT companies produce products that do technology well – some will argue better than Apple does. However, Apple deliberately disrupts the market by making product design the main focus and their point of difference in a crowded marketplace. This obsession, many authors note, of doing ‘what everyone else is doing’ is how businesses begin to lose whatever creative edge we might have had when our business plan was fresh and new. Lesson then is to (re)imagine what the possibilities could be in whatever industry we are. OR are there things that could be removed. A great question that I always ask (mainly because I have no creative skills)…” What’s happens if we stop doing this?” You’ll be surprised at where this can lead. BE DARING!
Don’t do what everyone else does.
Of course, this is the companion to the previous point – not doing what everyone else is doing! Steve Jobs keeps his focus intact by not being where everyone else is. For example, Apple never attends the Consumer Electronics Show preferring to host their own (virtually overshadowing the CES). This maintains an allure of mystery and curiosity about Apple. It also reduces their costs by not attending flashy trade shows – not a bad all round outcome is it? While we may not be able to garner as much attention hosting our own shows, we can still ask ourselves if there are there conventions and trade shows we attend that aren’t really rewarding? Are there ones where there are synergies with your business – even a thin thread of synergy – that your competitors don’t go to?
Core competency.
This is where Steve really separates himself from the rest of the pack. He focuses on only the core products his company deems worthy of producing. Companies add product after product to their shelf. Businesses often believe that because they have one great product, any product they release after that is destined to have just as much success. Sadly, more often, the reality is that these extra products only steal focus from their core competency. Are there products or services in your business that really aren’t your core competency? What would happen if you dropped them out of your catalogue?
Simplicity KISS – Keep it simple, silly!
How many times do we buy the top line model because, well because…? Yet, the features we use on an everyday basis are the ones that are basic and easy to operate. Steve Jobs’ philosophy has always been “…Something even a child can operate…” This simple strategy works perfectly for Apple. Look at Apple’s current keyboard. It is simple, functional, has fewer features than other keyboards and with less, less can go wrong with it. At a premium price with reduced repairs, it is saving the company a lot of money. Genius! Have you added unnecessary bells and whistles to your products or services? Can you streamline your products features? Can you change the way you retail your services to your customers? While the IT industry has enormous reach and there are factors that are unique to that industry, we can learn from Steve Jobs’ story. The unwavering conviction in his business plan. This in turn allows Steve to be much more informed about the calculated risks he needs to take… and haven’t the outcomes rewarded this self-belief in stunning fashion! A true life…build it and they’ll will come anyway!
