Apple’s stock closed at just over $280 on Friday. That places it at about 12% shy of overtaking Exxon in the top slot on the Standard and Poor’s 500 market index. That means Cupertino’s market value may soon be greater than the oil behemoth. That’s particularly amazing when you consider the fact that the companies that have held that position include GE, AT&T, IBM and, of course Exxon.
So think about it. The little company in Cupertino may well join the ranks of huge, diversified companies like GE. It boggles the mind, especially when you consider the fact that Apple only offers a limited selection of products and does so while rarely discounting their premium prices.
How can one account for that? Well one way to understand Apple’s success is recognize the clarity they have. They have a specific approach, they are unwavering in their strategy, and, better than just about anyone, they understand of WHY they do what they do.
If you really want to understand Apple’s success take 18 minutes and watch this video from TED. (It is worth the time!)
In it, Simon Sinek explains that Apple’s success is directly linked to the fact that the company has a clear vision of WHY they exist. While other companies talk about WHAT they produce, Apple focuses on WHY they do what they do. Their (oh so awesome!) products flow from that understanding.
I watched Sinek’s video last June and promptly downloaded Sinek’s book Start with Why: How Great Leaders Inspire Everyone to Take Action
to my… Apple iPad. 🙂
It is not an understatement to say that the book profoundly changed the way I view the world and my role in it. It is also the reason I’m not surprised by Apple’s runaway success. Still… the fact that Apple may soon be sitting at the top of the S&P 500… that’s pretty amazing!