At least three times this week, my “smart” phone froze during the bus ride to work, throwing a wicked wrench into my chances of winning solitaire.
At least three times this week, my “smart” phone froze during the bus ride to work, throwing a wicked wrench into my chances of winning solitaire.
In the second of this four part series I selected bits of wisdom from modern business experts and historians that appear on HISTORY’s “The Men Who Built America”. (Read Part 1 here.)
The following quotes are from the second episode, Bloody Battles. As the war heats up between Rockefeller and Carnegie the observations from these leaders become more pointed. If you can make the time in your schedule, this episode is worth watching if only to see how an elephant helped Carnegie to convince some residents that the first steel bridge would not collapse.
On Mentors
“Like most young people who get breaks, luck has a lot to with it and timing. And the second factor besides timing is that as a young man usually all of us would admit that there was a mentor, a benefactor. And when an older person who you respect and admire has confidence in you it’s a great booster to your own self confidence.” – Steve Wynn
On Perseverance
“You have to be patient and have perseverance and have a sense of where you want to go and having the passion to still believe in your idea even when everybody else is saying ‘Why are you wasting your time on this, obviously it’s not, it’s not, it’s not happening?’ But you know it’s going to happen. You just don’t, you never give up on that idea.” – Steve Case
On Uniqueness
“Every business has some uniqueness; either unique talent, unique product, unique capacity. And the trick is to find it and capitalize on it.” – Ron Perelman
On Failure
“I guarantee if these guys were alive today they wouldn’t be telling you about their successes, they’d be telling you about their early failures. Or the places they almost failed. That’s the great motivator and you have to be able to embrace that. If you can’t embrace both failure or the possibility of failure or the tremendous fear of failure, you can’t be wildly successful. It’s an axiomatic truth.” – Donny Deutsch
On Fear“The difference between people who succeed and people who fail, I think in many cases it’s not fear. Everyone experiences fear. The difference is what do you do with your fear. Do you work to overcome it or do you let it defeat you? And I think that is actually what distinguishes very successful people from others.” – Carly Fiorina
On Partnerships
“The partnership between Carnegie and Frick was very analogous to the way a good business partnership works today. You want somebody that’s completely opposite and different from you as you possibly can get.” – Mark Cuban
More on Partnerships
“I think the great leaders find partners who basically can exploit their weaknesses but not, kind of, dance on their strengths. Instead of hiring weaker versions of themselves they hire people that are tremendous experts at what they’re not.” – Donny Deutsch
On Being First
“Carnegie demonstrated that if you’re the first at whatever you do, you have a huge advantage over the people who come along later because you got the jump on them and very often that jump allows you to carve a niche and to maximize your profits within that niche.” – H. W. Brands (historian)
On Brands
“When your brand becomes so big that you become the name, you become the face behind the brand, it’s difficult. There’s also a great deal of responsibility and risk and you have to be very, very careful.” – Donald Trump
On Competition
“I always say you have to have someone to hate to aim for. Having an enemy, having an arch enemy, having a competitor, is what ups the game for everybody.” – Donny Deutsch
More on Competition
“Oh I benefit from high class competition. I’ve been dogged by the competition. Bested by the competition a couple times. But I’ve had my licks too and we’ve managed to hold our own.”– Steve Wynn
My favorite television shows usually save me from having to read a book. That’s not to say I do not read. In fact, I read every day. I just find some subjects, such as history, are frequently written in a manner that is not accessible…by which I mean dull.
So my interest was piqued when HISTORY said it would air a four part series on the titans of American industry that rose from the ashes of the Civil War. “The Men Who Built America” on History began its run last month and I am only just getting around to watching each episode.
While viewing the first episode, A New War Begins, I was re-introduced to several names of early American industry including Vanderbilt, Rockefeller, and Carnegie. Some of the best parts however are the asides from retired and current business leaders. Here are my favorite quotes from these leaders in the first episode:
On Vision
“You talk about seeing around corners as an element of success. That’s what differentiates a good leader. Not many people have it. Not many people can predict that corner. That is a characteristic of great leaders.” – Jack Welch
More on Vision
“The idea is to see what’s missing. That’s what the creative entrepreneur does. He serves people with things that they need. Some people can’t find the new thing to do. But sometimes you see something that everybody has to have. You say, ‘Oh man, I gotta give them this.’ Then you go to work on it because they need it.” – Russell Simmons
Even More on Vision
“I think entrepreneurs and certain business people just look at life and look at things that are changing and are able to see those things and say ‘I can create a business out of that’.” – Mark Cuban
On Sizing People Up
“Every business is about understanding people. Which people you have to get through. Which people you have to embrace. Which people you have to jump over. Which people you have to push out of the way. That’s the game.” – Donny Deutsch
On Innovation
“Innovation is not a big breakthrough invention every time. Innovation is a constant thing. But if you don’t have an innovative company coming to work every day to find a better way you don’t have a company. You’re getting ready to die on the vine.” – Jack Welch
On Technology
“Today everybody wants to be an entrepreneur. They’ve heard these great stories, you know, about Apple. But you know what? When you start a company you can think: what’s the revenues gonna be, how much it’s gonna be worth to shareholders. But you always need a technical element. You need somebody who knows how to do it and build the things. You need the scientists.” – Steve Wozniak
On Salesmanship
“The Rockefellers and all these guys were all great salesmen. At the end of the day, it’s the salesmen who make the money.” – Jerry Weintraub
On Winning v. Money
“To me, it’s always what’s next and I think that’s what drives most very successful people. It’s never about the money. I mean that’s a way of keeping score. It’s about achievement and it’s about winning a game and it’s about upping the ante.” - Donny Deutsch
More on Winning v. Money
“They don’t think in terms of money. They think in terms of winning. Now naturally if you win big in business money follows. But that shouldn’t be your objective. Your objective should be to win. Win, win, win, win. All the time. Not sometimes. Every time.” – Sumner Redstone
On Competition
“I think it’s good for the system and it’s really, I think, what most business is about. It’s about doing a better job on out-hustling your competitors.” – Ted Turner
More on Competition
“Competition gets very aggressive. People have no idea how aggressive it is. And sometimes you don’t even hear it because what goes on behind your back is not a pretty picture.” – Donald Trump
On Quitting
“You have to be smart. You have to have vision. You have to have all of these different things, but the most successful people are the people that had the right idea but never, ever quit or gave up. The people that really succeed in life are those that don’t quit.” – Donald Trump
On Being on Top
“People are always rooting for very successful people to fail. The day people are not taking shots at you, it means you are not on top anymore.” – Donny Deutsch
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