Power Point: Focus by saying no

July 22, 2008, 3:30 AM UTC

“People think focus means saying yes to the thing you’ve got to focus on. But that’s not what it means at all. It means saying no to the hundred other good ideas that there are. You have to pick carefully. I’m actually as proud of many of the things we haven’t done as the things we have done.”

— Apple CEO Steve Jobs said this to Fortune’s Betsy Morris in March. Apple announced a 31% increase in third-quarter earnings today, but shares fell 9% in after-hours trading due to the company’s conservative fourth-quarter earnings forecasts.