- Have a Vision
- Don't Just Have a Vision: Have a Plan to Implement It
- When Problems Arise, Disclose Them
- Involve People
- Succession Plan
- Sense of History
"I arrive here, and the first day I say, 'Let's go look at the product lineup.'
And they lay it out, and I said, 'Where's the Taurus?'
They said, 'Well, we killed it.' I said, 'What do you mean, you killed it?'
'Well, we made a couple that looked like a football. They didn't sell very well, so we stopped it.'
'You stopped the Taurus?' I said.
'How many billions of dollars does it cost to build brand loyalty around a name?'
'Well, we thought it was so damaged that we named it the Five Hundred.'
I said, 'Well, you've got until tomorrow to find a vehicle to put the Taurus name on because that's why I'm here. Then you have two years to make the coolest vehicle that you can possibly make.'
'Well, we made a couple that looked like a football. They didn't sell very well, so we stopped it.'
'You stopped the Taurus?' I said.
'How many billions of dollars does it cost to build brand loyalty around a name?'
'Well, we thought it was so damaged that we named it the Five Hundred.'
I said, 'Well, you've got until tomorrow to find a vehicle to put the Taurus name on because that's why I'm here. Then you have two years to make the coolest vehicle that you can possibly make.'
