Go Beyond a Great Leader to Build a Great Institution Visionary companies are like machines that constantly produce great products and leaders. Contrary to what most people believe, the success of a visionary company is not dependent on great ideas. The founder of Sony, for example, had no specific idea of what products his company would make. He actually held a brainstorming session after founding the company to evaluate business ideas ranging from sweetened bean-paste to miniature-golf equipment. Bill Hewlett and Dave Packard also had no specific idea in mind when they founded @Hewlettpackard . They experimented with almost farcically diverse ideas, such as automatic urinal flushers and bowling foul-line indicators. Hence, it seems that great ideas are not necessary for the start of a visionary company. Nor are high-profile, charismatic leaders. While visionary companies did have superb individuals at the top of their organization, they were often down-to-earth, reserved and modest people. But then, what is the secret of enduring success? Many comparison companies had great ideas and strong leadership, yet they all fell behind the visionary companies eventually. Why? Instead of focusing on a single product or a single leader, the visionary companies studied built themselves into outstanding organizations that constantly churned out great ideas and great leaders. The real creation of the founders was not a product at all but the company itself; constantly advancing independently of any one person or idea. Think of a clock on the wall. Having one great idea or visionary leader is like getting a glimpse of that clock and being able to tell the time in that instant. But building an organization that constantly generates great ideas and leaders is like building your own clock: a reliable machine.