Sublime

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Developing leaders from within the firm appears to be one of the key differentiating factors in sustaining a business for the long term. The old companies are concerned not just about reaping today’s harvest, they are cultivating the ground for future crops. This factor is especially apparent in the area of leadership development.

My strong advice for a company seeking profitable growth is to restrict your purposes to two: to acquire skills and technologies (including growing platforms) that are complementary to the existing strategy and that would be hard to create internally and to provide broader and stronger market access for the target’s products.

One thing I’ve taught all the executives in the company is that while you may be good in our business, that doesn’t mean you are good in any other business. Don’t get a big head and think you know it all, because that’s when you’ll lose. You’re really good in the car business. You’re really good in the recycling business. You’re not necessarily goo

Welch learns. He moved from a top-down vision (the famous dictum that all GE businesses had to be #1 or #2 in their markets) to a much more learning-filled operation (his “Work-Out” system).

Always remember that in the world of private equity, your reputation means everything. Be true to your word and deliver on what you promise..