Within a company, what is the most important aspect… the people, the idea, the products or the company itself?
Let’s see what Jim Collins, author of “Built to Last” has to say:
“Luck favors the persistent. This simple truth is a fundamental cornerstone of successful company builders. The builders of visionary companies were highly persistent, living to the motto: Never, never, never give up.
But what to persist with?
Be prepared to kill, revise or evolve an idea, but never give up the company.
If you equate the success of your company with success of a specific idea – as many businesspeople do – then you’re more likely to give up on the company if that idea fails; and if that idea happens to succeed, you’re more likely to have and emotional love affair with that idea and stick with it too long, when the company should be moving vigorously on to other things.
But if you see the ultimate creation as the company, not the execution of a specific idea or capitalizing on a timely market company, then you can persist beyond any specific idea – good or bad – and move toward becoming and enduring institution.”