The ability to concentrate and to use time well is everything.
Lee IacoccaRead
In business, you're trying to make a buck. God was good to me and blessed me. I made some money and started this foundation years ago, and it has grown in size. With the foundation it's a lot different, because the bottom line isn't how you can make more money or get a better return, it's helping the projects that you feel strongly about move forward.
Interpretation
The quote emphasizes that true success in business goes beyond profit, focusing on meaningful contributions.
Lee Iacocca reflects on his journey in business, highlighting that while making money is essential, the real fulfillment comes from using those resources to support and uplift causes he cares about. He suggests that a foundation's mission transcends financial gains, instead prioritizing positive impact and support for valuable projects.
In practice
During a charity event, someone could cite this quote to emphasize the importance of giving back.
The ability to concentrate and to use time well is everything.
I have found that being honest is the best technique I can use. Right up front, tell people what you're trying to accomplish and what you're willing to sacrifice to accomplish it.
No matter what you've done for yourself or for humanity, if you can't look back on having given love and attention to your own family, what have you really accomplished?
Listening can make the difference between a mediocre organization and a great one.
What is it that you like doing? If you don't like it, get out of it, because you'll be lousy at it. You don't have to stay with a job for the rest of your life, because if you don't like it you'll never be successful in it.
Here's what management is about: Pick good people and set the right priorities.
Most marketers think there's a concept called a product life cycle. Once you realize that the world is organized by jobs that need to be done, you understand that product life cycles don't exist.
Eventually, all companies are replaced.
There are two kinds of businesses: The first earns 12%, and you can take it out at the end of the year. The second earns 12%, but all the excess cash must be reinvested - there's never any cash. It reminds me of the guy who looks at all of his equipment and says, 'There's all of my profit.' We hate that kind of business.
If a brand genuinely wants to make a social contribution, it should start with who they are, not what they do. For only when a brand has defined itself and its core values can it identify causes or social responsibility initiatives that are in alignment with its authentic brand story.
I wasn't running toward the theater but running away from the sporting goods store. Of course now that I'm selling spaghetti sauce (with Newman's Own), I begin to understand the romance of business.. the allure of being the biggest fish in the pond and the juice you get from beating out your competitors.
A well-run restaurant is like a winning baseball team. It makes the most of every crew member's talent and takes advantage of every split-second opportunity to speed up service.
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