How Steve Jobs Saved Apple From Bankruptcy

in #apple5 years ago

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Apple is one of the largest and most influential technology companies in the world today, making highly popular products like the iPhones, iPads, MacBooks, Apple Watches among others that make them a ton of money each year.

It also recently became the first trillion dollar company according to market cap, marking yet another huge milestone in their journey. Most of this success comes from the path that the company's late co-founder, Steve Jobs, put the company on, ever since the beginning.

The company has had lots of ups and downs ever since its inception in 1976, witnessing the ousting of its own co-founder in 1985 and then almost meeting a disastrous fate in the late 90s when it was facing bankruptcy.

Although, looking back, it was that phase in the late 90s, that saved Apple after the then CEO Gil Amelio decided to bring back Steve Jobs by acquiring his startup NeXT in late 1996. What happened next is an amazing story of one of the most successful comebacks ever.

How Jobs Saved The Day

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In the absence of Steve, Apple had started making all sorts of products and had lost its focus on making great products that just worked. That's why one of the first things he did, was to cut off most of the product lines and retreat to only a handful.

He devised the perfect product strategy, by offering only two variants of each product, i.e. one for the pros and one for the normal consumers. This simplified the products on offer vastly, allowing the company to innovate faster and with complete focus. This strategy has been followed by the company ever since.

By launching great products one after the other like the candy-coloured iMacs, the iBook and Powerbook laptops, then the iPod, the iTunes music store, Jobs helped steer the company in the right direction that saved them from bankruptcy.

Hiring key people like Tim Cook (the current CEO) and allowing Jony Ive (the chief designer) to flourish, were another really important steps in the comeback. Also, Jobs got Microsoft, its biggest rival, to invest $150 million dollars into the company that proved to be pivotal in its comeback.

In just about 5 years' time, Jobs managed to save a sinking ship and turned it into a highly prosperous one that has today become a cash cow, still offering great products years after his demise.

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If only he were around to help of Americas debt and financial burden.

I don't think he would have done anything about it.

The even bigger impact is the effect Apple has on the larger tech community. By allowing innovation to flourish, Jobs invigorated entire industries, and now gives other tech companies a template to copy from.

Posted using Partiko Android

That is for sure! What Apple does instantly goes mainstream and so they have influenced the consumer tech industry hugely!

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