At closing of the stock markets today, Apple had jumped ahead of Exxon by almost $7 billion in value. MSNBC wrote an interesting article listing out 10 reasons for Apple’s success:
- Constantly improving products
- New products
- High margins
- Best spokesman
- Luck
- Distribution
- The apps store
- Music and movies
- Marketing
- Product design
I agree with their points, Apple has demonstrated their excellence in these areas. But the question of why, to me, goes a bit deeper. After all, Apple is just a computer company. They make towers, laptops, mini-laptops, tablets, and pocket-computers that sometimes make phone calls. What makes them different, why they are successful, is simple: consistency.
Apple makes sure that everything they do is an expression of their values: innovation, simplicity, design, and passion. They are consistent. Each part of MSNBC’s list is simply a result of their core values. Looking at the list you can begin to see what values each tangible item (Luck is just that, luck) expresses: The apps store from innovation and simplicity, product design from simplicity and design, new products from passion and innovation, and marketing from passion and simplicity.
In fact, here’s a list of bad advice that Apple has received and ignored while staying true to their beliefs, leading to their current success. (Credit to Gizmodo.com)
The question of “Why” is the most important question a company can ask itself. Why are they doing what they are doing? Is it purely for money? Or do they want to be leaders in the industry? Maybe they want to add their own twist to an existing technology or service? What really matters, and what Apple has done beautifully, is defining one’s values and sticking to them. The natural result will be consistency which will therefore build reputation, trust, and brand recognition with customers.
Leave me your thoughts about the subject. What other companies do a great job of answering their “Why” question? How do they express it? What are some that don’t do so well? Any related thoughts are welcome and I’d love to hear them!