2-3-4 Friday
‘Seeking to spark the most potential within you per word of any online newsletter’
1 thought
Patek sells luxury watches that retail for thousands of
dollars.
In a seemingly sunset industry, especially if you consider how people can tell time on their phones, computers, and digital displays everywhere, they have continuously survived, and continue to be one of the most profitable luxury companies.
In a statement of their values, Thierry Stern, the President and fourth-generation owner of the business, said,
“At Patek Philippe, it can take years to train our skilled specialists. It is one of the reasons we do not make more watches than we produce today. We are not magicians. At our family-owned
company, everything we do relies on the skills and creativity of our people.
Very human skills which cannot be rushed or replaced.
Only humans can accept the challenge to always be at the edge of what is possible.”
Some would say that sounds like folly, in being unable to adapt to the times, and to ‘pivot’
and shift.
Is that pivot always needed? Why has Patek been able to endure as a cultural institution, despite selling an item that less and less people seem to need?
There are many reasons, but one of them is the embedded organisational culture of ‘things well made’.
In their interview
with their brand partner The Hour Glass, Thierry Stern, the President of Patek, spoke about how they weren’t too worried about making money.
They trusted that when they focused on building a great product, the money would follow.
Imagine if you worked at Patek. You wouldn’t have to worry about short-term profitability. All you needed to do was focus on making
the best product.
If we apply this to the idea of what you do now at work, are you focused on making something well, or are you only able to make something work?
You might not be a business owner. But if you’re working, the bulk of what you’re working on is perhaps delivering a service. Is that service delivered through an institution that focuses
on doing things well, or one that just focuses on surviving?
This is important because whatever work you do, you might find yourself frustrated by the organisation. And as much as we hate to say it, some organisations, are frankly, not that good.
We stay in these organisations for different reasons. Some of us are there because a job is a job, and it pays the
bills.
Nothing wrong with that. But if you want to stop banging your head against the wall, it might be worth finding the organisation that has moved past the messy stage of getting the lights on, and on delivering a best-in-class service.
1 talk
Fast is the
enemy.
"At Patek Philippe, when we make a watch, however hard we work, we can only go at one speed. One that ensures we adhere to the high standards for which we are respected."
- Patek Philippe, The Patek Philippe Philosophy Series
1
tip
The difference when you work at these organisations can be phenomenal.
Organisations are amplifiers (or destroyers) of talent. The right organisation can significantly build an environment around you where you can become your best self, whilst the worst can make everyday a living nightmare.
You’ve experienced your fair share of those. Organisations where the moment you walk in, you don’t know if your colleague is there to help you, or harm you. Or when you feel you need to battle your manager for alignment. Or when you suggest an idea, and find your organisation just long-grassing it.
I will tell you what some good organisations do.
- They are
nimble. They recognise that individuals have different strengths, and find how best they can assign tasks around these strengths.
- They are iterative. They measure the data, consider the feedback that’s given to them, and consistently adjust their actions so that they can build better outcomes.
Of course you’re going to find some inconsistencies within organisations,
where some departments are dysfunctional. But over and over again, organisations are like humans.
When they are congruent, you will see a high level of performance that is mapped throughout teams, departments, and finally, the organisation.
When they are not, then you can see them breaking down - from within.
And if you’re wondering how to find these types of organisations, just by going for an interview, then look at the company’s Glassdoor.
Don’t just find the right job. Find the right organisation.
John
Live Young, Live Well - Work Your Love
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