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Five Lessons for Entrepreneur From Fiat-Chrysler Emerge.

Because of consumer interest in sustainable fuel, economic cars, and the skyrocketed cost of fossil fuel; major US companies began the…

Fiat Chrysler Automobile Head Quarter at London.

Because of consumer interest in sustainable fuel, economic cars, and the skyrocketed cost of fossil fuel; major US companies began the formal procedure of damage control by cutting cost one after another specially between 2007 and 2010.

In 2009 fiat officially announced the takeover of Chrysler- Americas giant automobile group- after the announcement of bankruptcy earlier in 2008, the US government offers Chrysler sometime to settle the liquidation under the protection of US law till the takeover ends.

After producing what was the car of the american wealth, Chrysler journey comes to the end, as it became now the west wing of the new bird Fiat-Chrysler Automobile group.

The Stubborn affect.

When Chrysler was founded, it aimed to become the giant and beast car maker, with the dominant young american wealth style; which is now symbolized in Chrysler 300 and Chrysler Hellcat.

That main mission made them later bankrupt, after the market begin to shrink, over doing the focus on that particular market make Chrysler lose the cash very fast, with missing the other markets opportunity, being stubborn was the ticket to the company vanish.

Lean Business, Smart Business.

Going out testing ideas in the market, talk to customers, is the basic act to any business, but in some cases as it is in Chrysler case, it didn’t happen, thinking that they can outsmart the most basic needs for the consumer was really dreadful; especially after the company deiced to pour allot of cash in high cost, luxury cars which consumes fossil fuel like a monster, rather that going for another market; the people who would invest in economic cars with luxury appearance .

In 1999 drivers switched to smaller, less fuel-efficient vehicles, Chrysler and other industry groups could not adopt the growing market need which cost the group painful experience, and bad publicity.

Reliability not liability.

Dealing with huge business empire like Chrysler can be overwhelming, and what can make it even worse, the careless behaviors and liability among the team; whether technicians, drivers, or territory managers, which mostly happened when the company started to focus on strategy and synergies in their heads, and left the people out.

Being part of a company requires loyalty, and it cant be given, it has to be earned by making the team part of the big picture, save their rights, and seek their growth and empower them, as the main engine on the ship, without that, even the biggest company can will sink with their own insecurities and lack of vision.

Reliability and Accountability doesn’t develop instantly, it comes along with the right quality of leadership specially delegation, and the long time success key factors; growth and empowerment.

Products must be the best not slightly better.

Create the best right product, not the slightly better version of it, consumer these days are really smart, they do their home work very well, sometimes better than some business owners and entrepreneurs.

Publicity is tricky, media will always be fascinated about what sells the best, and every body wants to be associated with winners, creating outstanding products, that fits in the market with growth potential is big deal, being proud of it is a must, but once the media take it up, it can be brought down easily by bad publicity, BBC show Top Gear has history in sales enhancement with the endorsement and track record of law suites for destroying cars sales, which will result in the end winning and losing companies.

Sometimes the end of something great, is the birth of something greater.

After buying Chrysler bulk assets now the new company is the sixth biggest automobile group in the world, with hybrid models between two different company; elegant luxury economic cars, has the performance of the dodge beast engine with glamorous look; and the lightness and fuel economic consumption of the classic fiat, it is simply the best of both world.

Such deals can result in near future new cars that would be reliable, easy to relate to and affordable.

It is the beginning of new era for both fiat and Chrysler, hoping for the best.

Note:

Fiat has deep problems like Chrysler and the company aim from the deal to save both brands, the new emerging company still has issues over technical issues law suite and safety, to know more about how is the new company is doing check the latest news.

Originally published at medium.com

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