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How Leaders Lead with David Novak

#81: Patrick Spence, Sonos CEO—Build to Last

How Leaders Lead with David Novak

David Novak Leadership

Entrepreneurship, Business, Management

4.8596 Ratings

🗓️ 5 May 2022

⏱️ 52 minutes

🧾️ Download transcript

Summary

Today's guest is Patrick Spence, the CEO of Sonos. So many tech companies that build consumer products are set up in a way where they make their products obsolete every time they launch a new product. The idea is that the minute the new device is available, their customers will abandon the old product and buy the newest model.  But what's interesting is that Sonos has a very different strategy. They set out to build their products to last. They want their customers to have their products for a long, long time. It's a unique approach in their industry. But there's something about it, that core principle that ties in well with the mark of a great leader.  You see, the great leaders, I know, they build the last, they make decisions to keep the brand strong beyond just the present moment. They develop leaders in their organization. So there's always a pipeline of strong talent when new opportunities arise. They treat their customers with dignity and respect, which breeds long term brand loyalty.  I could go on and on and what you're about to hear from Patrick Spence, and how he leads Sonos as their CEO, is that he's leading with this build the last approach in all aspects of the business. I can't wait for you to listen in. Take your learning further. Get proven leadership advice from these (free!) resources: The How Leaders Lead App: A vast library of 90-second leadership lessons to stay sharp on the go  Daily Insight Emails: One small (but powerful!) leadership principle to focus on each day Whichever you choose, you can be sure you’ll get the trusted leadership advice you need to advance your career, develop your team, and grow your business.

Transcript

Click on a timestamp to play from that location

0:00.0

Welcome to How Leaders Lead, where every week you get to listen in while I interview some of the very best leaders in the world.

0:10.0

I break down the key learning so that by the end of the episode, you'll have something simple you can apply as you develop into a better leader.

0:18.0

That's what this podcast is all about.

0:20.0

Today's guest is Patrick Spence,

0:22.8

the CEO of Sonos. So many tech companies that build consumer products are set up in a way

0:29.8

where they make their products obsolete every time they launch a new product. The idea is that

0:36.5

the minute of the new device is available,

0:38.9

their customers will abandon the old product

0:41.2

and buy the newest model.

0:42.9

But what's interesting is that Sonos has a very different strategy.

0:47.3

They set out to build their products to last.

0:50.8

They want their customers to have their products

0:53.2

for a long, long time.

0:55.4

It's a unique approach in their industry, but there's something about it, that core

1:00.9

principle that ties in well with the mark of a great leader.

1:05.2

You see, the great leaders I know, they build the last.

1:10.0

They make decisions to keep the brand strong beyond just

1:13.3

the present moment. They develop leaders in their organization so there's always a pipeline of

1:19.0

strong talent when new opportunities arise. They treat their customers with dignity and respect,

1:25.2

which breeds long-term brand loyalty.

1:27.9

I could go on and on.

1:30.0

And what you're about to hear from Patrick Spence

...

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