A. Jerrold Perenchio

The LA Times published an informative and interesting profile of a highly successful businessman I would like to meet by the name of, A. Jerrold Perenchio.

Among, Mr. Perenchio numerous business accomplishments, he worked for Lew Wasserman, helped launch Elton John’s career in the United States, promoted the Muhammad Ali-Joe Frazier as the first hugely successful closed-circuit TV event, was the background mastermind of the on-court clash between Billie Jean King and Bobby Riggs as the infamous “Battle of the Sexes,” was the co founder of a production company that produced "One Day At a Time", “The Jeffersons,” “The Facts of Life” and “Who’s the Boss?”, co-produced "Driving Miss Daisy," “Blade Runner”, owned the successful Loews theater chain, sold Univision for an enormous amount, and was the largest landowner in Malibu. IN 2005, Perenchio was ranked the 89th most richest man in the world by Forbes with an estimated net worth of 2.6 billion. Unlike most people who acquire such enormous successes, Perenchio avoids the spotlight, entirely, even to the extent of not putting his names or company names on buildings when he is making a charitable contribution. Following are his rules of managements which I find very interesting and helpful to an extent:

1. Stay clear of the press. No interviews, no panels, no speeches, no comments. Stay out of the spotlight — it fades your suit.

2. No nepotism, no hiring of friends.

3. Never rehire anyone.

4. Hire people smarter and better than you. Delegate responsibilities to them. Doing so will make your job easier.

5. You’ve got to know your territory. Cold!

6. Do your homework. Be prepared.

7. Teamwork.

8. Take options, never give them.

9. Rely on your instincts and common sense. If you go against them you generally regret it.

10. No surprises. We don’t give them. We don’t want to get them.

11. Never lose sight of what business you’re in. Stick to your “last.”

12. When you suit up each day it’s to play in Yankee Stadium or Dodger Stadium. Think big.

13. If you have a problem, don’t delay. Face up to it immediately and solve it.

14. Loose lips sink ships!

15. Supreme self-confidence, never arrogance.

16. A true leader is accessible — no job too big, no job too small.

17. Communication is our business. You can reach any of your associates anytime, anywhere, anyplace.

18. If you make a mistake, admit it. Just don’t make too many.

19. Don’t be a “customer’s person” (man or woman).

20. Always, always take the high road. Be tough but fair and never lose your sense of humor.