Advertisement

How to build a company that will last

Reading Time:4 minutes
Why you can trust SCMP
0

PEOPLE tell me that one of our company's strengths is the layer of senior executives below me. Every one of these executives plays a major role.

I wish I could take credit for knowing things would turn out so well. But I can't. When I hired each of these executives 20 years ago, I wasn't thinking about creating an effective second tier in our organisation. I needed each of them for their skills in a particular area such as television, tennis, golf, or finance.

The business grew, they grew, and the two meshed.

In hindsight, however, I think there are certain guidelines for any entrepreneur who wants a company that's built to last.

Hire people smarter than you are: I have always tried to hire people who are smarter than me in specific areas of our business - and I tell them and the outside world how smart I think they are. This keeps our company on the leading edge and it saves mea lot of time. When a client or customer says they would rather deal with them than me, I don't mind.

Pile on the work: I don't like to ''Peter Principle'' people. That is, I won't promote a great salesperson to sales manager simply to reward him for selling well. I'd rather keep that person selling and give him other things to do.

Advertisement
Select Voice
Choose your listening speed
Get through articles 2-3x faster
1.1x
220 WPM
Slow
Normal
Fast
1.1x