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I also believe that at a critical point (more than six people?), that collective wisdom turns into group think.

Lewis Schiff

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Lewis Schiff
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More quotes by Lewis Schiff

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MBA programs are underwritten by large companies and they succeed at producing future employees of large companies. In that regard, they are doing exactly what they are supposed to be doing.
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I did in fact take a couple of classes at my local college here in NYC. But I did it unwillingly and without enthusiasm. That is until a protest broke out in the streets around campus against rising tuition costs.
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The work I'm doing today gets me one step closer to the work I should be doing tomorrow. And that the way I learn this is by trying, failing, networking and experimenting. I'll stop doing that when I'm dead.
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I believe that only a subset of us is meant to lead. The rest want to follow.
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One of the things all entrepreneurs struggle with is where their efforts will have the highest impact. Unfortunately, too many of us continue to do the very same things that led to our initial success because we're good at it and we've created and invested in systems to support them
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In companies, there are three activities that should be labeled better. First there is the CORE which is the thing the company does that its customers pay it to do.
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Still, it formed one of my basic beliefs about success which is this: most of the time, success can be measured in terms of how much more than others you have of something that's in short supply. This includes money, reputation, respect, etc.
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The disruption caused by globalization and technology (what Tom Friedman calls hyperconnectedness) will be around for the rest of our professional lives.
Lewis Schiff
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Apple makes computers and they have to be great at providing the product they promised every individual who wants to purchase from them. This is where they should spend the bulk of their energy.
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The problem is not the sentiment, it's the execution. When a company makes a mistake, the individual benefits because they've learned how NOT to do something while the institution had to pay for the mistake.
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Apple made tools that helped people express their creativity and Steve Jobs knew that so he told that story well. But Facebook makes tools that help people connect and Mark Zuckerberg is hardly a story-teller. Nevertheless, he's become a leader because his products do such a good job of solving a problem.
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I've got better things to do than to find my individuality in that particular area. But if it's important to me, I've got to seek my own path.
Lewis Schiff
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However, I believe that large groups make markets, so serving the needs of large groups is a simple approach to success in business success. But that's no reflection on whether or not they're making wise moves or good calls. It's just about filling the need.
Lewis Schiff
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I believe in labeling things.
Lewis Schiff
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As you climb of the organizational ladder, you have to redefine your role in the value chain from player to captain to coach to manager, and for some, to owner. These are different roles and you won't be able to succeed as a manager when you're acting like a player.
Lewis Schiff
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When I started out, I wanted to have everything solved by the time I was 30. That didn't happen. Instead, I realized that the journey is the destination, that the work.
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I went to work at political consulting firms, graphic design and communications firms and ultimately, magazines. Today, my career is in the media business. And more specifically, I'm in the words side of the business as opposed to video or music.
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Because I work with entrepreneurs who own businesses, I have found Doug Tatum's No Man's Land to be a really helpful body of working knowledge. It's very applicable to most businesses that have the usual problems of growing businesses - managing people, capital, markets, etc.
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The bottom line: All of your investing decisions should be grounded in your own investment policy statement. By taking a top-down look at your finances and writing out a road map, your policy statement will add an important element of discipline to your approach.
Lewis Schiff
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Harkening back to a story about my grandfather, I was lucky to attend a great high school in New York, Bronx High School of Science, which has produced more Nobel prize winners than any other high school in America.
Lewis Schiff