Flush with success, Larry Ellison took Oracle Corp. public in 1986. But histeam was young and inexperienced.
By 1990, the database management software developer posted its first loss. Soon after, it teetered on bankruptcy.
Seeing the need for drastic change, Ellison replaced most of his original senior staff with experienced managers and delegated the company’s management to them, while he concentrated on product development. By 1992, the new Oracle 7 database program took the field by storm and restored Oracle as an industry leader.
The lesson: Focus on what you do best … and let your people do what they do best.
— Adapted from The Oracle of Oracle, Florence Stone, Amacom.