Philosophy: ‘A theory or attitude that acts as a guiding principle for behaviour.’
A business that lives and dies by a philosophy. If this is the case whatever philosophy that may be: boring, winning, tactical, rake in financial profit by any means, patient or never give up. The philosophy can be anything that works in the owners favour, something that only that specific business can implement into their work. So if the case is ‘A business that lives and dies by a philosophy’ then this cannot be, it means the business does not die.
Henry Ford founder of the Model-T and Ford Motor Company
Still going as strong as ever today, founded by a normal engineer, Tom Ford found himself being promoted to Chief Engineer in 1893 with the Edison Illuminating Company. Now in 2015, the latest results show that as of 2013, the Ford Motor company is raking a net income of $7.15 billion (US)… How’s that for Philosophy?
From the basic (as we see it now) 18th century (1896) Ford-quadricycle to the (not yet released as until later this year) Ford S-Max, this shows more than the other 5 listed philosophies that Henry Ford ran the company with a ‘winning’ approach to business. He created the Model-T with the mentality that he could compete in the automobile market and is willing to take on whatever his competitors come back with, unfortunately he sadly passed away back in 1947 of course.
The reality of his work is that although not one of the top models in the market today, due to Mercedes Benz and BMW especially, have worked increasingly hard to challenge and integrate 21st century technology into their vehicles, Henry Ford’s philosophy is still being lived by in the company and more importantly his motors are still alive and competing.
What type of business do you run/What type of business will you run?
Now in 2015, entrepreneurs have a choice. There are more opportunities to grab than ever before according to Richard Branson’s Virgin – Entrepreneurship is set to go viral in 2015, for young business personalities this is encouraging news and this is a door that opens up dreams for aspiring business owners.
However for those self-started companies and business owners that have been running for years, seen the market rise and fall, experienced good and not so good business decisions affect their financial stability, where do you go from here?
From the little experience I have in the industry compared to the many great personalities in the country, I know that before anything else, you cannot get to the top of the stairs without wanting to climb the second step. As my experience grows at 17 years old, I’m learning the fundamentals of business everyday. As an Entrepreneur your business can’t grow firstly without you loving what you do, the drive, energy and passion for the role must be genuine love that reflects your buzz during work flow everyday.
The biggest time-wasting activities at work are personal internet use (34%), socialising with colleagues (20.3%) and conducting personal business (17%) – Salary.com, 2007
If we are claiming to have a winning mentality in our philosophies why do we time waste?
- Not enjoying the job
- Easily distracted
- Lack of discipline
If you can love what you do, then your heart and positive approach to the business will elevate into much more than you could expect. This also ensures your mindset is in the right place, a clean mind strictly focused on completing a task means you are making progress and because we are all humans you won’t realise it yet, until the project is done. Seeing tasks through because you can’t wait for the results is a form of ‘love for the job’.
Employees spend an average of 11 minutes on a task before being distracted. Once distracted, it takes workers 25 minutes to return to the original task. – University of California
A philosophy that employees understand means they will either agree with it and stay on within the business or disagree with it and depart. It is essential that as a manager you push your philosophy out so your employees know what level to work for and eventually reach. Many professional sport coaches tend to work by philosophy in order to operate effectively at their clubs. It means everybody is going in the same direction, there is positivity and an understanding both for the philosophy and the companies welfare and journey.
I leave you with this Quote:
Brits watch an average of 3.7 hours of TV a day. That’s more than a day a week spent in front of the box. Imagine what you could do if you gave up TV for a while. – Thinkbox, January 2009
My Verdict: The time we spend doing half hearted activities, encourage one another to understand a talent, a hobby or an idea and write it down on paper, a memo pad on your mobile or tablet and then begin thinking realistically but outside the box, begin a plan without any capital in the equation and another one with capital in the equation, this is a brief business plan, how you implement it, is the beauty of being a ‘Founder of…’ or CEO of. It’s about being creative implementing your plan in a way nobody hasn’t. No matter how good your competitors are, there are always gaps in the market for an improvement, for a newcomer which could be you.