What Makes A Company A Success?
As you glance through history at the myriad of different companies with varying products or services, what is it about the ones that stood out and became great that makes them different from the ones that only “also ran” or completely failed? I'm sure there are as many theories and opinions as there are experts regarding this subject. Although I am no expert in this field, I do have some observations.
Some will tell you that having an innovative, “high tech” product is the key. Come up with a million, billion, trillion seller and you're set. History has shown in many “high tech” products that although initially the original company did well, once the newness wears off and the copycats kick in, the success is a flash in the pan. Furthermore, unless licensing has the idea tied up, the sales can be spread so thinly that no one makes it big. In contrast, there is a lot to be said of the very successful companies that are making products which have not changed in basic design for decades.
You can make what you want of luck. Some will put a lot of emphasis on it saying, “They just happened to be in the right place at the right time,” but I agree more with something once said to the effect that, “the harder you work the luckier you'll get.”
Others might say that the key is great leadership. I would agree that it is an extremely important aspect. Making the correct decisions, at the right times, can be a “make it or break it” opportunity. These decisions might come in the form of the basic day to day type, up to the groundbreaking and even terrifying. A good leader can make these choices, whether based on careful research, past experience, “gut feelings”, or a combination of all of the above. They can also make the necessary follow up course adjustment decisions that are required, because things don't always go according to the well laid out plan. That ability to land on your feet when things go awry is crucial.
But is it the leadership only at the top? Or does it have many facets and shapes throughout all levels ofan organization?
So What Is It?
What is that magical key that makes all the difference? I think it requires a good measure of all the above, but more so requires a team. It's the people that make a company what it is. You can have all of the other elements, but without the team success won't happen. In contrast, if you have a great team, even if some are lacking in certain areas, the aggregate can more than make up for any shortcomings if all are in an attitude to work together toward a common goal. Even if it is a goal that seems so lofty that no one else would even consider it possible. No one does it alone, there is always a team. That is what makes the difference.
Team UEA Turns 60
Here at United Equipment Accessories, the team contains many members that have been on board for a large portion of our 60 years in business. As the company grows, there are also now a large number of new team members that are learning the ropes while bringing new perspectives and ideas to the table.
As we continue the journey into the hydraulic swivel production, some team members will be molded into new positions and other additional members will be added as well. I look forward to this evolution of the complete team and believe we can maintain the close family style group that has been such a great part of United Equipment Accessories SINCE 1952.
– Kent Davis, Senior design Engineer