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The Time of His Life: How Luce Built a Publishing Empire

Article Overview: “All our publications, all our activities, are successful,” Luce once said in looking back on his career. “They are successful not only at the box office, but they are successful also in the opinion of a large part of mankind. This is a considerable consolation for our efforts over the years.”

The Time of His Life: How Luce Built a Publishing Empire

“All our publications, all our activities, are successful,” Luce once said in looking back on his career. “They are successful not only at the box office, but they are successful also in the opinion of a large part of mankind. This is a considerable consolation for our efforts over the years.”

Luce was proud of the empire he had built, and with a worldwide circulation of 13 million, it is not hard to see why. But how did this China-born missionary’s son create one of the most successful communications empires in history?

Risk: Before Luce came along, nobody was doing what he wanted to do. No editors were making their opinions known; no publications were exciting their readers. Luce wanted to change all of that. By personalizing his news stories, by redefining what was considered news, and by making that news appeal to his readers’ senses, Luce created a new brand of journalism, and reaped the rewards for it.

Vision: Luce once said, “Time should make enemies and Life should make friends.” Truth be told both Time and Life made enemies in the course of their lifetimes, but so too did they gain a loyal readership. Luce committed his publications to realizing a vision, and stuck to that commitment no matter what the cost.

Leadership: Luce was an opinionated man to be sure, but he also knew when it was time to stop talking and listen. By making himself approachable, by inspiring his troops, and by uniting them towards a greater common good, Luce created a loyal and motivated team around him.

Humility: Luce was a proud man who would work until no ends to achieve success. But as much as he loved success, so too did he hate failure. And that is why Luce learned early on the importance of knowing when to cut his losses. He focused on setting and achieving goals that were realistic, and refused to waste his time on lost causes.

Curiosity: While driving in a car with an associate on day, Luce turned to him and asked what the large excavation was that was passing them by. “That, Mr. Luce, is a hole in the ground,” the man said. It might be a trivial question deserving of a trivial answer, but Luce was not above asking even the small questions. Indeed, no question was not worth asking. It is precisely because of his never-ending curiosity that Luce was able to venture into new waters and expand his range of influence.

Upon his retirement, Luce made sure to quell any rumours about the fate of his company. “I want everyone to get used to the idea of what they call the Lucepapers without Luce,” he said. Luce was confident that his empire would continue to reign long after his death. Today, 43 years after his retirement and two years after his death, Time Inc. remains the largest magazine publisher in the U.S. and the U.K., and has successful franchises in all of the online, television, radio, and mobile industries. “I suggest that what we want to do is not to leave to posterity a great institution,” said Luce, “but to leave behind a great tradition of journalism ably practiced in our time.”

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  Lesson #5: Curiosity Never Killed the Cat
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  Lesson #3: Power is in Bringing People Together

Article Tags: consolation, cost leadership, curiosity, enemies, humility, journalism, lifetimes, loyal readership, luce, mankind, motivated team, news stories, opinionated man, proud man, rewards, senses, setting and achieving goals, successful communications, time and life, worldwide circulation



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