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Business Ideas – 3 Lessons from Herb Kelleher – Southwest Airlines

Business Ideas – 3 Lessons from Herb Kelleher – Southwest Airlines By Evan Carmichael

 

herb kelleher

 

Today we’re going to look at how a young lawyer who seemingly had it all bravely left his job to start his own business. He had to fight over 30 lawsuits and nearly went out of business but he stuck with it and created one of the most respected companies in America. This is the story of Southwest Airlines co-founder Herb Kelleher and the top 3 lessons that you can learn from his success.

 

“Your people come first, and if you treat them right, they’ll treat the customers right.” – Herb Kelleher

 

Herb Kelleher (born March 12, 1931) is the co-founder and former CEO of Southwest Airlines. After graduating from law school he did what every new lawyer dreamed of. He clerked for the Supreme Court Justice, joined a law firm, and became partner at a firm in his wife’s home state of Texas. He should have been on top of the world but he was instead itching for a new career as an entrepreneur. One evening Kelleher was having drinks with a client, Rollin King, and that night the two used a cocktail napkin to hatch a new business, Southwest Airlines.

 

Using Kelleher’s legal experience and King’s business background, Southwest Airlines was set up to run only in Texas to avoid having to follow federal price regulations. Kelleher had found a legal loophole and his competition didn’t appreciate it. Kelleher had to fight off over 30 lawsuits before Southwest Airlines was even able to get a plane in the air. But they prevailed and bootstrapped their way from a company with only 4 planes to being one of the most admired companies in America.

 

Southwest is consistently named one of the top five Most Admired Corporations in America by Fortune magazine, which also called Kelleher perhaps the best CEO in America. It has never experienced an in-flight fatality and continues to enjoy growing success. Southwest is also the only airline to have over 30 consecutive years of profit, despite the terrorist attacks of September 11, 2001, which threatened the rest of the industry. In 2001, Kelleher resigned as CEO and president of Southwest due to a personal battle with prostate cancer.

 

Action Item #1: Put Your People First

 

Action Item #2: Focus Everyone on Customer Service

 

Action Item #3: Hire the Right People

 

 

True Story

 

In the beginning, Southwest had just four planes and 70 employees. All of the legal battles had left the company on the verge of closing down. It forced Kelleher to make a difficult decision: he had to either sell one of the planes or lay off some of his employees. He chose to sell the plane. In return, Kelleher asked his employees to cut gate turnaround times from 55 to just 15 minutes. They pulled it off and Kelleher had clearly set the culture for his business.

 

Quotes

 

“I learned it by doing it, and I was scared to death.”

 

“Sometimes you need a little courage too just to buck popular opinion.” 

 

“The important thing is to take the bricklayer and make him understand that he’s building a home, not just laying bricks.”

 

The Trust Economy: David Etheredge

The Trust Economy: David Etheredge

 

the trust economy

From stints at Walt Disney Interactive and Microprose software to the Director of International Business Development at Hasbro and as minority partner in renewable energy company, Wind Works, David Etheredge brings an eclectic mix of passion for theatre, technology know-how, and business acumen to his current venture, SavvyCard. Through SavvyCard, David leverages the growth of mobile devices to build the “trust economy”.

 

Finding Happiness Through Humor: Robert Haas

Finding Happiness Through Humor: Robert Haas

Congregation Mickve Israel’s new rabbi, Robert Haas, came to Savannah in 2012 by way of Texas, Israel and Africa. He was born in McAllen, Texas, graduated from the University of Texas at Austin, and taught in Houston’s public schools. He then lived and studied in Israel, entered rabbinical school and was ordained in the first Reform Rabbinical Class on the West Coast. After serving as a rabbi in Dallas and Houston, Robert went to Africa in 2011 as a volunteer with the American Jewish World Service. He now serves as the rabbi for the third oldest Jewish Congregation in America.

Vince Poscente | 135 mph, Dallas Speaker – Motivational Speaker

Vince Poscente | 135 mph, Dallas Speaker – Motivational Speaker

Vince Poscente knows a little something about focus, commitment, and defying the odds. At age 26, he decided to take up speed skiing and pursue it competitively. Only 4 years later, he was vying for Gold in the Winter Olympics. Today, he is an internationally sought speaker and consultant of the New York Times Best Selling Book, “The Age of Speed: Learning to Thrive in a More-Faster-Now world”! Vince explains how to take control of you time, your priorities, and your talents – and start making your life and your business everything you want it to be. With his infectious energy, warmth, and humor, Texas motivational speaker Vince Poscente makes each keynote speech as memorable as it is valuable.

 

Mauro Guillen’s insight on the world economic market

Mauro Guillen’s insight on the world economic market

Published on Jan 26, 2013

This week different countries all over the world have gathered in Switzerland for the World Economic Forum. Mauro Guillen,VP of WEF Global Agenda Council on Emerging Multinationals and the professor from Wharton School, joined CCTV and gave his insight on the undergoing changes starting from Europe.

 

Explore the cause rather than criticize the action – Zig Ziglar

Explore the cause rather than criticize the action – Zig Ziglar

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Worry is interest paid before it’s due – Zig Ziglar

Worry is interest paid before it’s due – Zig Ziglar

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Failure is a detour and not a dead-end street – Zig Ziglar

Failure is a detour and not a dead-end street – Zig Ziglar

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Where you start is not as important as where you finish – Zig Ziglar

Where you start is not as important as where you finish – Zig Ziglar

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The World’s Coolest Tax Shelters: Luxury Ranches in Texas

The World’s Coolest Tax Shelters: Luxury Ranches in Texas

Exotic animals, luxury homes, souped-up trucks and speedboats can all qualify for tax breaks if you know the rules in Texas. We survey the territory with Jeff Soele, whose real estate company, Texas Best Ranches, specializes in the tax benefits of high-end ranch properties.

 

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