#56 The Biography of Herb Kelleher

What I learned from reading Nuts!: Southwest Airlines' Crazy Recipe for Business and Personal Success ---- Reality is chaotic; planning is ordered [0:01] Vince Lombardi is the Steve Jobs of coaches [3:48] how Southwest Airlines is different [11:31] the beginning of Southwest [16:00] fighting anticompetitive practice [24:30] finding a new market by doing the opposite of your competition [29:00] missionaries make the best products [31:00] being forced to innovate leads to questioning assumptions which leads to finding new markets [34:00] how Southwest became the largest liquor distributor in Texas [38:00] remember your fundamental reason for being and don't deviate from that [40:45] optimize for profits, not market share [42:30] know what you are competing with - not who [44:15] how having only one type of airplane gives Southwest an advantage [46:30] how keeping it simple saved Southwest $2 million [51:30] know what you do best - have the discipline to stick to it [53:00] if you are going to be small you have to be fast [1:01:19] the benefits of curiosity are unpredictable [1:03:45] ---- Founders Notes gives you the ability to tap into the collective knowledge of history's greatest entrepreneurs on demand. Use it to supplement the decisions you make in your work. Get access to Founders Notes here. ---- “I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested so my poor wallet suffers. ” — Gareth Be like Gareth. Buy a book: All the books featured on Founders Podcast