If you look historically, what creates growth and wealth is innovation and investment, and increase in scale - more customers.
Interpretation
Growth and wealth are driven by innovation, investment, and expanding customer bases.
Frederick W. Smith's quote emphasizes the keys to creating economic growth and wealth, which he identifies as three essential elements: innovation, responsible investment, and increasing scale by reaching more customers. It implies that by focusing on these factors, businesses can thrive and contribute to overall economic prosperity.
In practice
This quote can inspire entrepreneurs at a business conference to focus on innovation and customer growth.
Leadership is simply the ability of an individual to coalesce the efforts of other individuals toward achieving common goals. It boils down to looking after your people and ensuring that, from top to bottom, everyone feels part of the team.
Fear of failure must never be a reason not to try something.
A manager is not a person who can do the work better than his men; he is a person who can get his men to do the work better than he can.
Information about the package is as important as the package itself.
Just because you started your careers in a certain role, let's say hardware engineering, does not mean you'll end your careers in hardware.
Acquire Riches by Industry and Frugality.
There's a whole generation of young people who are faced with the so-called 'jobless recovery.' Necessity is the mother of invention. They are out there, all around the world, creating new companies.
To win Best Director at Sundance was beyond anything I could have imagined for myself. It's still an incredible feeling to know I won. But as happy as I am about winning, I also know many other women of color have directed amazing films over the years that were equally deserving and didn't win.
I expected to be a pretty good NBA point guard and hopefully win a championship. But MVP and all this stuff? Not really.
Victory was to be bought so dear as to be almost indistinguishable from defeat.
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