5 Things Eric Schmidt Learned From Running Google

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    In 2001, Eric Schmidt joined a 3-year-old company named Google. Now after 13 years of explosive growth at the search giant, the executive chairman and former CEO is taking a look back what what makes Google work.

    When Schmidt and senior vice president of products Jonathan Rosenberg came aboard at Google, they were anticipating being viewed as sages. But the “Internet Century” was taking over and old ways of doing business were becoming irrelevant. “We thought we knew everything about business management. We were wrong,” Schmidt, Rosenberg, and director of executive communications Alan Eagle write in their recent book How Google Works.

    The barriers to entry that typically gave legacy companies and institutions an advantage over startups have dissolved. Today, the global market awaits anyone who has a great idea and can move quickly. Schmidt and Rosenberg say the people with technical knowledge, business expertise, and freedom to experiment are the ones who will excel.

    The barriers to entry that typically gave legacy companies and institutions an advantage over startups have dissolved. Today, the global market awaits anyone who has a great idea and can move quickly. Schmidt and Rosenberg say the people with technical knowledge, business expertise, and freedom to experiment are the ones who will excel.

    Companies that fail do so because of a flawed internal design. “The problem is, most companies today are run to minimize risk, not maximize freedom and speed,” Schmidt and Rosenberg write. Inside such companies, “information and data is hoarded, not shared; design is a vestige of an era when failure was expensive, and deliberation was a virtue; decision-making power lies in the hands of the few.”

    To speed things up and continually make great products, companies need to adapt to the new age or step aside. Below, check out five of Schmidt’s, Rosenberg’s, and Eagle’s many pearls of wisdom from the book.  Continue reading at http://www.inc.com/will-yakowicz/5-things-eric-schmidt-learned-from-google.html

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