Great ideas are hard to come by
Putting them to work is even
harder
Meet the founders who turned
concepts into companies and changed the face of business
When Jeff Bezos came up with the idea for what would become Amazon.com, he went on a stroll in Central Park with his boss at the time to share his epiphany.
Bezos, in 1992, was a senior vice president for the New York hedge fund D.E. Shaw. He described his dream to create a company that would sell books on the Internet. His boss listened intently before offering a bit of advice: "That sounds like a really good idea, but it would be an even better idea for someone who didn't already have a good job."
Big ideas of the ground-shifting variety are rare -- and hard to pull off. But that's the difference between the dreamer and the doer. It took Bezos all of 48 hours to decide to quit his job and get started. Some 18 years later, he's still at the helm of Amazon.com, which has redefined the way people buy almost everything, employs 56,200 people, and is valued at more than $80 billion.
Having spent years studying Bezos and others like him as an author, senior writer, and editor at both Business Week and Fast Company, I can tell you that Bezos is one of those rare birds who have made a meaningful mark on our economy and our world. He would certainly be on anyone's list of the 12 greatest entrepreneurs of my generation. Who else should make that cut? After spending the better part of the past year pondering that question for a new book, World Changers: 25 Entrepreneurs Who Changed Business as We Knew It (Portfolio Penguin), I was asked by Fortune who deserves to be on that list -- and what we can learn from each of them.
Many are obvious -- from the late Steve Jobs, who helped make Apple the hottest and most valuable company on the planet, to Mark Zuckerberg, who will take Facebook public in what is anticipated to be the biggest IPO of all time (at a value of more than $80 billion). But there will be a few surprises too, such as N.R. Narayana Murthy, the visionary founder of Infosys who has built one of the largest companies in India, helping to transform that economy and put it on the world stage.
Another surprise: Not a single woman makes the list of the top 12 -- at a time when women have gathered more influence and power in business than ever before. Oprah Winfrey has leveraged her celebrity into a formidable media empire, and the late Body Shop founder Anita Roddick proved that you could market products by being socially and environmentally responsible. They clearly warrant honorable mention but have not, in my view, transformed the face of business or society in as profound a way as those singled out here.
Admittedly this list of the world's greatest entrepreneurs is subjective. I based it largely on social and economic impact; the world-changing vision of a founder who has inspired employees and other entrepreneurs alike; a record of innovation; and the actual performance of their companies over time. These founders created and then nurtured healthy, sustainable organizations that now have a combined market value of more than $1.7 trillion. They directly employ more than 3 million people, ranging from a high of 2.1 million at Wal-Mart to just over 3,000 at Facebook.
Yet those numbers only touch the surface. Each of their companies sits at the nucleus of a thriving ecosystem that has cultivated and nurtured dozens if not hundreds of other enterprises. Small companies have thrived as suppliers, for example, to Whole Foods, which, among other things, buys produce from more than 2,000 local farms. So the power of each of these organizations extends far beyond its own walls. Here are my choices:
1. Steve Jobs
Company: Apple
Sales: $108.2 billion
Market Value: $546 billion
Employees: 63,300
Advice: Say no to focus groups and market research.
Sales: $108.2 billion
Market Value: $546 billion
Employees: 63,300
Advice: Say no to focus groups and market research.
Though he could be abusive and mean-spirited to people who threw themselves into their work on his behalf, Steve Jobs has been our generation's quintessential entrepreneur. Visionary. Inspiring. Brilliant. Mercurial.
Perhaps the most astonishing fact about Jobs was his view that market research and focus groups only limited your ability to innovate. Asked how much research was done to guide Apple when he introduced the iPad, Jobs famously quipped, "None. It isn't the consumers' job to know what they want. It's hard for [consumers] to tell you what they want when they've never seen anything remotely like it."
Instead, it was Jobs' own intuition, his radar-like feel for emerging technologies and how they could be brought together to create, in his words, "insanely great" products, that ultimately made the difference. For Jobs, who died last year at 56, intuition was no mere gut call. It was, as he put it in his often-quoted commencement speech at Stanford, about "connecting the dots," glimpsing the relationships among wildly disparate life experiences and changes in technology.
It's a safe bet to assume that none of Apple's blockbuster products, from the Macintosh to the iPod and iTunes, from the iPhone to the iPad, would have come about if Jobs had relied heavily on consumer research.
Fittingly enough, on the day Jobs launched the Macintosh, a reporter from Popular Science asked him what type of studies Apple had conducted to ensure there was a market for the computer. In a nearly offended tone, Jobs retorted, "Did Alexander Graham Bell do any market research before he invented the telephone?"
Fuente: CNN Money - FORTUNE
