“Sometimes when you innovate, you make mistakes. It is best to admit them quickly, and get on with improving your other innovations.” -Steve Jobs

  1. Understanding the psychology of your customers and what drives them to purchase (or not to purchase) is increasingly important. You can’t drive people to you if you don’t understand what drives them.
  2. It isn’t just knowing what your customer needs—it’s knowing how you can be the BEST at meeting those needs.
  3. Great firms are leaders in both innovation AND implementation.
  4. Some firm decisions are made irrespective of the bottom line. Executives who don’t have the guts to make ethical decisions will find themselves leading companies with no moral compass.
  5. A firm can be defined as much by what it doesn’t sell as by what it does—so stand behind your decisions.
  6. With increasing choice in many markets, consumers are looking harder at the value of your offering, and also at the values behind that offering.