Satoru Iwata’s three tips for building a company that endures.
Here are the guiding principles that the former president of this beloved game company used to bring Nintendo into the 21st century.
Nintendo started as a playing card manufacturer way back in 1889. Over a century later, they’ve stood the test of time and are now one of the leading makers of video games and consoles in the world.
Former President and CEO, Satoru Iwata, shines some light on what has made this much loved company so successful.
Focus on a core mission
“Even a small amount of power can have a great effect when concentrated on a certain area.” Satoru Iwata 73rd Annual Shareholder Meeting
Iwata has rejected diversification, arguing that the company’s mission has always been to create games that people love. That laser-focus has been the sole reason the company has survived for over a century.
Put people first
“I sincerely doubt employees who fear being laid off will be able to produce software titles that could impress people around the world.” Satoru Iwata 73rd Annual Shareholder Meeting
Nintendo has gone through good times and bad. With the failure of the Wii U software platform, the company was still cranking out video game titles that people loved. Iwata subscribes the endurance of the company to the fact that they continue to let creators create without fear of failure.
Technology as a tool
“I am not trying to say technology is unimportant, but if we are just focusing on technology we will not succeed.” Satoru Iwata 73rd Annual Shareholder Meeting
Iwata knew that technology was the medium by which people interacted with Nintendo’s true product — its games. Many businesses these days are technology companies despite their core product. It’s the companies, though, that use technology to serve that core offering that endure.
The three pillars of a successful business.
Technology, people, and product. Communicate how these work together to your customer base to find enduring success.