Last week, Apple announced that it had agreed to acquire Beats Music and Beats Electronics for $3 billion. I thought to myself, “Why is it that a company known for its computers, iPod, and iPhone would be willing to acquire an electronics company that focuses only on peripherals rather than hardware?” Most people would probably say that Apple can bundle their products together and improve the sound quality of their speakers. Personally, I saw it as a chance to merge two companies who have a passion for what they do. Apple, a company that has sold over 363 million iPods alone, has dominated the music market for over a decade. Their success originates with their ability to revolutionize the music industry through both the iTunes Store and their iPod line of music players. Beats Electronics, established in 2006 and selling its first product in 2008, grasped a commanding 64% market share of the premium headphone market by 2012 despite its products being designed and manufactured by Monster Cable. The company, for all intents and purposes, built its massive following based on a name and a belief in quality music.
Apple and Beats Electronics are known for providing some of the best technology to those who are passionate about both music and computers. They don’t just sell headphones and computers – they sell lifestyle and culture. This is not unlike what we preach through our customer experience transformations. At their core, Apple, Beats Electronics, and our own Senteo brand push for a change in culture and purpose that serves to define how the company lives and breathes. I find myself purchasing Apple computers because I believe in their goal of challenging the status quo and pursuing innovation. The same can be said of Beats Electronics; they exist to show people that music contains emotions that are only conveyed through crisp, quality sound.
Our featured book for the month of June is Simon Sinek’s Start with Why because it highlights the need for companies, specifically leaders in companies, to center their thinking on why they do things rather than what they do. Sinek’s methodology is grounded in The Golden Circle, a concept that focuses on the WHAT, HOW, and WHY a company exists. All companies know WHAT they do, some know HOW they do it, but very few are able to articulate WHY. These companies that start with WHY have leaders who inspire action – something every company needs. Rather than emphasizing a product or process, starting with WHY gives the company a purpose which consumers can identify with. By starting with WHY, leaders provide a reason for others to rally with them and take action. We encourage everyone to find their vision and establish their customer base by starting with WHY.
Stop by our Community to read our full review here of Start with Why to understand why this is such a great book for any businessperson or entrepreneur. Not part of the Senteo Community? Join online for free to gain access to this and other reviews in our Recommended Reading section.