History is more than just a chronicle of events. It describes the mindset and circumstances of previous eras, setting the backdrop for the motivations behind decisions that led to failures and triumphs. Therefore, tapping into history’s endless reservoir of wisdom holds the secrets to future success. It’s the blueprint for shaping strategy, vision, and innovation.
By making decisions without leveraging this historical data and collective experience, we are like the boxer who steps into a high-stakes bout unprepared. The fighter who ignores his opponent’s past matches or never evaluates his own mistakes is disadvantaged from the start. To run a business, we must understand that success is not just about what service we are providing, but orienting ourselves around where we came from, where we are, and where we are going. By studying history, we can move from participating in human progress to being architects.
Learn New Ways to Adapt
When we marry historical insight with our current needs, we can use it as a guidebook to be nearly invincible in the face of change. Leaders should study the brilliant adaptations of past innovators during times of sweeping change; their approach can illuminate a path for the innovators of tomorrow.
One historical figure we can learn from is Ford. While he had flaws, he paid double the rate of the average American. The people he brought in to work his assembly line were originally farmers, and he prioritized protecting them from injury and having production shut down. When World War I hit, he re-tooled all his vehicles to serve the war effort. His adaptability led everything to be a business opportunity.
When I started my business, I spent months learning about how Tesla, Edison, and Ford built their enterprises, documenting how I envisioned the company. Then, I iterated and improved. Before I knew it, five years had passed, and everything I had visualized was taking shape. Every five to six years, I reimagine my business all over again. What our company offered 24 years ago is different from what we offer today — and there is always more historical wisdom from which to draw inspiration for improvements.
Keep Doing What Works, But Better
We can also learn from the historical patterns of consumers. Consumer behavior represents more than data; it’s the pulse of human desire and the lifeblood of a brand. By understanding customers, we can fulfill more of their needs they never knew they had.
To do this, we must connect the dots between what we are building and what people desire. It’s almost like tuning into a secret language to uncover unvoiced frustrations and unspoken dreams. Use touchpoints as opportunities to create an experience, forge a connection, and better understand the end consumer and their evolving needs. It is not enough to know; we must understand.
We can take action by recording and analyzing the historical patterns of more of the world’s consumers. In mining, our clients need more of the minerals we provide, and we implement tools to bridge that gap. Some of our clients are also miners because we saw they needed services for their own businesses. We are continuously finding new ways to address issues like sustainability and labor shortages in mining through the development of the digital mine. If we want to reimagine a business, studying the history of customer needs will be key in defining how we continue to expand that business or its reach.
Understanding history brings humility
Ego can be both an asset and a liability. It drives us to innovate, surpass our own expectations, and believe we can make a dent in the universe. But ego can also blind us, make us deaf to invaluable feedback, and close doors to collaboration.
Edison and Tesla’s “War of the Currents” taught us that technological prowess is not always enough to seal a victory, but the overarching lesson is the peril of ego. Edison and Tesla were visionaries with the power to light up the world but with egos so large they sometimes eclipsed their own genius.
Understanding history — that we were neither the first nor will be the last to attempt big dreams — grants us the humility to temper our egos. Our compass should always be solving customer needs. Case in point: Tesla was a genius, but Edison was savvy, which is ultimately why General Electric became what it is today.
Learn leadership from history’s great leaders
By standing on the shoulders of the giants, we can see further, dream bigger, and build upon their legacies. Adam Smith’s The Wealth of Nations offers timeless insight into the mechanics of market economies. Henry Ford deeply understood revolutionary industrial design and efficient workspaces. John F. Kennedy and John Paul II taught us about the art of leadership.
There are others, of course: Winston Churchill, Ronald Reagan, Benjamin Franklin, Steve Jobs, etc. No matter how we view their decisions today, we can still learn how they shaped our future. Here is how to start the learning journey:
1. Research. Be well read. Pick five to six people or events, seek out primary sources, and use these figures as your mentors. Then, when facing a problem, ask, “What would Thomas Edison or Steve Jobs do?”
2. Analyze. Connect the dots by documenting cause-and-effect patterns. Examine successes and failures and break down causal factors and key lessons. Compare insights from competitors and other industries.
3. Apply. Contextualize current events and update strategies based on historical context.
4. Distribute. Teach or write findings for others to learn from and expand. Share those insights via internal workshops or whitepapers.
We must do more than read history; we need the courage and vision to write it, too. To honor this continuum of human endeavor, we must turn our choices, innovations, and values into the chapters for tomorrow’s history books. By giving future generations our wisdom, they can find the inspiration to build upon our endeavors and create their own entries in the story of human progress.