3 Lessons Learned From T-Mobile’s Success
3 Lessons learned from T-Mobile’s transformation and its visionary leadership!
This is by far one of the best success stories you can learn from and be inspired to make a change in your life and where you work.
Nelson Mandela once said “It always seems impossible until it’s done”, this is exactly what John Legere, CEO of T-Mobile US, Inc. did in the US wireless market.
He saw something that seemed impossible to others but he actually managed to get it done.
The story starts in 2011 where you had a wireless market that’s very mature and stable…I mean it is concurred by couple of giant companies – as you can see in this chart – that control the market.
Number of subscribers for wireless carriers from 2013 to 1st quarter in 2017 in millions.
Customers were always locked in a 2 years contract for a premium monthly payment. You get limited number of minutes, limited data and sometimes limited coverage too…
2011 was the year that led to the change the rise of T-Mobile. AT&T failed to acquire T-Mobile for all the reasons you can read here. Even though T-Mobile was desperate at some point to be acquired by AT&T to save it from the high churn resulting from the lack of investment in T-Mobile network, that all ended up in T-Mobile favor.
Because the deal fell through, AT&T paid T-Mobile $4 Billion. That includes a $3 billion breakup fee as well as spectrum rights worth another $1 billion.
While the failure of the deal was a big blow to AT&T, it represented something strategic for T-Mobile and its parent company. Not only will it have an extra $3 billion worth of cash in the bank, but the increased spectrum and the new roaming agreement will allow T-Mobile to compete more effectively against its larger rivals.
Now let’s talk about the key lessons from happened in the period from 2011 to 2017.
Every failure moment is an opportunity for success
“I have not failed. I’ve just found 10,000 ways that won’t work.” Thomas Edison
T-Mobile was faced by several failure moments, going through this high churn rates in the period from 2007-2011 and also having the acquisition deal fall through. Yet they were able to turn the failure moments into an enormous success that is represented into:
- Tripling their stock price from 2011 through 2017 is a success and it is no luck, it is a result of a vision, determination, planning from the leadership and hard work from their team
- Gaining enormous acquisitions year over year since they introduced the Un-carrier program
- Being one of the market leaders now in wireless
T-mobile isn’t the only example out there but it is a really good example for those who are seeking success.
Whether you are a CEO, an employee, a marketer, a sales or techie person and you are going through what’s called a failure moment, think twice before giving up!
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