10 Business Lessons from Carlos Slim

10 business principles that drive Carlos Slim’s success

Carlos Slim Helú summarizes what he considers to be Grupo Carso’s business principles in these 10 points, which guide his employees every day, and could be the reason of the continued success of his companies:

  1. Always have simple organizational structures, minimal hierarchical levels; provide human and in-house development of the executives; maintain flexibility and fast decision-making capability; work with the advantages of a small company.
  2. Maintaining austerity in good times strengthens, capitalizes and accelerates the development of the company, and averts the bitter and drastic adjustments needed in times of crisis.
  3. Stay focused on modernization, growth, training, quality, simplification and the continuous improvement of production processes. Increase productivity and competitiveness; reduce costs and expenses, judge performance based on global benchmarks.
  4. Companies should never be limited by the size of the owner or manager. Do not feel big in our small corral. Minimize investment in non-productive assets.
  5. There is no challenge that we cannot overcome by working united, and with clear vision in the goals and knowing the tools.
  6. Money that leaves the company evaporates; this is why we reinvest profits.
  7. Corporate creativity is not only applicable to business, but also to solving many of society’s problems. This is what we do through the Group’s Foundations.
  8. Firm and patient optimism always yields its rewards.
  9. All times are good times for those who know how to work and have the means to do so.
  10. Our premise is and has always been that we leave with nothing; that we can only do things while we are alive and that entrepreneurs are creators of the wealth they temporarily manage.