Dyson: I encourage people to make mistakes. I like to put the graduates we hire in positions where they must make decisions early on. They don’t get everything right the first time, but people learn to think, rather than follow. It is far better to show interest and creativity from day one than to let yourself be trapped under the dead hand of corporatism.
High: Yours is a private company. As such, you do not need to report earnings on a quarterly basis or at all. As such, you do not have to worry about natural ebbs and flows of business cycles. Do you believe that public companies are naturally less well-structured for innovation?
Dyson: It’s a great pleasure to run your own company. You can believe in what you do and do it dogmatically – even if the return takes years to materialize. I’ve never really worked in a proper corporate environment – I’ve preferred to make it up as I go along. Owning the company means I can think only about the products we make and not about pleasing shareholders. I traipsed around the globe trying to convince vacuum manufacturers to take on my idea. No one would have it. I was told people don’t want to see their dust in bins. So I went off on my own, and I’m very relieved I did! Now, we can take risks. Fail. And then try again. We can invest in young talent, new materials, and ideas that people laugh at. Like a cyclonic vacuum cleaner with a clear bin.
High: Many companies attract talent with options, providing a promise of a financial event. How do you motivate your team given the fact that this is not an incentive you intend to provide?
Dyson: To me, nothing beats the thrill of invention. Letting people go out and try their ideas, getting them totally involved, and unleashing new thinking. They’re not bound to any methodology – in fact, the stranger and riskier, the better. I think free-thinkers enjoy Dyson.
High: You do not market your products heavily, instead hoping to have your initial customers be the marketing department on your behalf. How do you involve customers, if at all, during product development?
Dyson: Customer feedback is incredibly important; we keep our ears open across the world. I read all the product reviews – particularly the bad ones. But we go looking for problems too. I didn’t have the luxury of customer feedback for DC01 – only gut instinct. But I knew bags needed to go and that if the technology worked, people would buy it.
High: How much of your team is focused on producing derivatives to existing Dyson products versus those who are focused on research & development and true new innovation?