Akio Morita was a Japanese businessman and co-founder of Sony along with Masaru Ibuka. By the 1960s, the Sony Corporation of America was established in the United States and by 1961, Sony Corporation was the first Japanese company to be listed on the NYSE.
Sony Co-Founder’s 10 Secrets To Success Revealed
Below are some tidbits of wisdom from Morita himself that you can apply to your life and start-up business:1. Think different"I knew we needed a weapon to break through to the U.S. market, and it had to be something different, something that nobody else was making."2. Embrace other perspectives"If you go through life convinced that your way is always best, all the new ideas in the world will pass you by."3. Know your target market well"Carefully watch how people live, get an intuitive sense as to what they might want and then go with it. Don’t do market research."4. Learn
setbacks"The important thing in my view is not to pin the blame for a mistake on somebody, but rather to find out what caused the mistake. In all my years in business I can recall very few people I have wanted to fire for making mistakes."5. Create a wholistic business model"There are three creativities: creativity in technology, in product planning, and in marketing. To have any one of these without the others is self defeating in business."6. Open communication channels"I believe one of the reasons we went through such a remarkable growth period was that we had this atmosphere of
free discussion."7. Maintain a fluid business hiearchyThe company must not throw money away on huge bonuses for executives or other frivolities but must share its fate with the workers.8. Put your creativity to use, don't hold back"From a management standpoint, it is very important to know how to unleash people’s inborn creativity. My concept is that anybody has creative ability, but very few people know how to use it."9. Close-knit teams"The most important mission for a Japanese manager is to develop a healthy relationship with his employees, to create a family-like feeling within the corporation, a feeling that employees and
managers share the same fate. We will try to create conditions where persons could come together in a spirit of teamwork, and exercise to their heart’s desire their technological capacity."10. Foster an ambient work environment"I believe people work for satisfaction. I believe it is a big mistake to think that money is the only way to compensate a person for his work. People need money, but they also want to be happy in their work and proud of it."
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