Sometimes in the journey of entrepreneurship, things get tough, and you do not know what to do or where to run to, to get motivation. You need to know your business is going to be alright and the challenges you are facing are not strange. The best way to do this is to read about the journey of other successful individuals who made it before you.
Louis Chenevert is among the individuals who young entrepreneurs can look up to for success. He is mainly known for his legacy at the United Technologies Corporation (UTC). He joined the company when the nation was complaining due to the effects of the financial crisis. The firm that was lucky not to have closed down were laying offs their employees to reduce their production costs. Others were moving their production units to countries that they believed they could get cheap labor.
For Louis Chenevert, all the above options were out of the question. He valued the input of the employees in the firm. He says that you can only do as much as your employees can do. He advises the young business persons to invest in their teams and be sure to work with the right people. Louis Chenevert opted to combine all his employees in one center to brainstorm and come up with great ideas instead of laying them off.
In the long run, all his plans worked out, and the impact of his decisions was great. The United Technologies Corporation was named as one of the most profitable organizations in the nation. The shares of the company rose to 117% from the previous 37%.
Louis Chenevert says that he acquired this success by being very passionate about his job, and creativity. He says that relentless focus and the ability to stay aligned to the agendas of propelling the company is important.
Louis Chenevert advises the young business people to be careful with the internal politics of a company. He says that every firm has those people who are always against the agenda of the firm. Louis says that the best thing to do is ignore them and let them join in later: don’t let them distract you.