Carlos Slim Helú summarizes what he considers to be the Group’s business principles in 10 points, which have been communicated to his relatives, colleagues, employees and work force.
1. Create an organizational structure with simple, minimal hierarchies; provide personal development and in-house training for executives; maintain flexibility and a rapid decision-making capability; leverage the advantages of a small company and use these to grow and excel.]
2. Maintaining austerity in good times strengthens, profits and accelerates the development of the company, and averts the bitterly drastic adjustments in times of crisis.
3. Stay focused on modernization, growth, training, quality, simplification and the continuous improvement of production processes. Increase productivity and competitiveness, reduce costs and expenses by using global benchmarks.
4. Companies should never be limited by the size of the owner or manager. Do not be a big fish in a small pond. Minimize investment in non-productive assets.
5. There is no challenge that we cannot overcome by working together with clear objectives and knowing the tools we have at our disposal.
6. Money that leaves the company evaporates; this is why we reinvest profits.
7. Corporate creativity is not only applicable to business, but also to solving many of society’s problems. This is what we do through the Group’s Foundations.
8. Firm and patient optimism always yields its rewards.
9. All times are good time for those who know how to work and have the tools to do so.
10. Our premise is and has always been that we leave with nothing; that we can only do things while we are alive and that businessmen are creators of the wealth they temporarily manage.
Carlos Slim took some of these points from business lessons from his father, Julián Slim Haddad, who brought his son to work at a very young age and noted his unique interest in commerce.