Hi Guys,
Lists don’t tell the whole story or develop the reasons why the list works, but they yield a quick summary insight into the author’s baseline principles. I like them.
HP is surely a successful company that owes its success to its two founders, Bill Hewlett and Dave Packard. Much has been written about their story. One of the most illuminating books is simply titled “Bill & Dave” by Michael S. Malone.
I read it almost a decade ago. One of its great features that make the book extra special is that it ends with a lengthy appendix that summaries a multitude of lessons extracted from the HP team’s operating philosophies. I recommend both the book and especially the appendix.
The lessons learned list is terrific, but much too long. Since the books 2007 publishing date much shorter lists have been assembled that address the HP operating rules and principles. Here is one such list provided in 1999 by HP CEO at that time, Carly Fiorina:
1. Believe you can change the world.
2. Work quickly, keep the tools unlocked, work whenever.
3. Know when to work alone and when to work together.
4. Share tools, ideas. Trust your colleagues.
5. No Politics. No bureaucracy. (These are ridiculous in a garage.)
6. The customer defines a job well done.
7. Radical ideas are not bad ideas.
8. Invent different ways of working.
9. Make a contribution every day; if it doesn’t contribute, it doesn’t leave the garage.
10. Believe that together we can do anything.
11. Invent.
Very easy to say, but not so easy to execute. I can convince myself to believe, but the invent part of these rules is a major stumbling block for me.
As a practical alternative, here is a list of 11 simple rules that Dave Packard has formulated and advocates:
1. Think first of the other fellow.
2. Build up the other person’s sense of importance.
3. Respect the other man’s personality rights.
4. Give sincere appreciation.
5. Eliminate the negative.
6. Avoid openly trying to reform people.
7. Try to understand the other person.
8. Check first impressions.
9. Take care with the little details.
10. Develop genuine interest in people.
11. Keep it up.
This list focuses on the personal interaction level, and therefore is far more useful for me. I try hard to put these guidelines into daily practice. They mostly work. I’m sure many MFOers also practice this rule set. In a generic sense, they can be applied when making investment decisions since the marketplace is the complex interactions of scores of people.
Best Regards.
