Steve Jobs had 90 days to save Apple from bankruptcy

Jobs who’d been forced out in 1985, returned to a barely alive Apple in 1997. At that time the company was valued at just $3 billion (compared to $148 billion Microsoft).

The same year Apple stock hit a 12-year low.

Michael Dell, the visionary billionaire founder of Dell Technologies advised:
“Shut the company down and give the money back to shareholders”.

Now in a situation like this, any regular person would have done as Dell advised. But Jobs had other plans.

His first move shocked the Silicon Valley; He negotiated a $150 Million investment from arch rival Microsoft.

“We need all the help we can get”, he told the Macworld 1997 audience (who boo’d him).

The deal bought Apple crucial time, but would it be enough?

With cash flow problems resolved, Steve Jobs focused on Apple’s chaotic product line, which included a dozen Macintosh versions, printers, digital cameras and other devices. Jobs was disgusted.

He then famously drew the 2×2 matrix.

This gave Apple four main types of products to focus on, instead of the 15 different kinds of computers they were trying to make before.

This bold simplification surprised many but became essential to Apple’s philosophy.

Now the world was about to change..

In 1998, Apple launched the iMac- a sleek, colorfull all-in-one computer that stood out from the bland beige boxes on the market. It was an instant success selling 800,000 units in it’s first five months.

Apple was suddenly back in the game. But Jobs was just getting started.

Steve realised that in his 12 year absence, the brand had grown stale. It needed more than great products- it needed a rallying cry.

So, in 1997 Jobs launched the “Think Different” campaign to revive the brand.

As the new millennium dawned Jobs set his sights on the music industry and launched the iPod in 2001. iPod promised “1000 songs in your pocket”. By 2007, Apple had sold it’s 100 Millionth iPod, making it the best selling digital music player of all time.

In 2007, Jobs stepped on the stage to unveil a product that would change everything; The iPhone.

“An iPod, a phone and an internet communicator”, Jobs announced. “Are you getting it? It’s not three separate devices. This is one device.”

The crowd gasped, the industry scoffed. With a sleek multitouch interface and full web browsing, iPhone made BlackBerrys look like antiques overnight. Apple sold 1 million iPhones in 74 days. Billions of dollars followed.

The iPhone didn’t just changed phones, it changed us: how we communicate, work, play, and view the world. It created the app economy, disruptive industries and made Apple a tech leader.

Jobs didn’t just predict the mobile revolution, he sparked it.

But he wasn’t done yet..

In 2010, Jobs introduced the iPad, creating an entirely new category of tablet devices. Despite industry doubts the iPad became the fastest- adopted new product in tech history.

Steve Jobs being Steve Jobs didn’t stop there. He redefined Apple’s retail stores, ended Apple’s OS licensing to 3rd parties and revolutionised Apple’s core product offerings even further.

In 1997, when Jobs returned, Apple was worth $3 Billion. By 2011 when Jobs stepped down as CEO, Apple’s valuation had skyrocketed to over $350 Billion. He didn’t just save Apple; he transformed personal computing, digital music, retail, tablets & mobile phones. His vision didn’t just change an industry- it changed the 21st century creating one of history’s greatest comeback stories.

Sadly, Jobs passed away at the age of 56 on October 5 2011 handling the reins of Apple to Tim Cook.

Today, in 2024 Apple’s valuation is over $3 Trillion!

Key Lessons from Steve Jobs' Apple Comeback:

1. Focus is Power: Simplify offerings to focus on core strengths; clarity drives success.

2. Strategic Partnerships Matter: Even rivals can be allies in critical times—collaboration trumps competition.

3. Innovate to Lead: Bold ideas and transformative products can redefine markets and create lasting impact.

Can You Do It?

• Identify Your Core Strengths: What’s your equivalent of Apple’s 2×2 matrix? Focus on what truly matters to your business.

• Seek Strategic Allies: Who can you partner with, even if unconventional, to strengthen your position?

• Be Bold and Different: What bold innovation or campaign can set you apart and inspire your audience to “Think Different”?

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