Several years ago I was in the Thomson Building in Toronto. Iwent down the hall to the small kitchen to get myself a cup ofcoffee. Ken Thomson was there, making himself someinstant soup. At the time, he was the ninth-richest man in theworld, worth approximately $19.6 billion. Enough, certainly, toafford a nice lunch. I looked at the soup he was stirring. “Itsuits me just fine,” he said, smiling.

Thomson understood value. Neighbors reported seeing him leavehis local grocery store with jumbo packages of tissues that were onsale. He bought off-the-rack suits and had his old shoes resoled.Yet he had no difficulty paying almost $76 million for a painting(for Peter Paul Rubens's Massacre of theInnocents, in 2002). He sought value, whether it was inbusiness, art, or groceries.

In 1976, Thomson inherited a $500-million business empire thatwas built on newspapers, publishing, travel agencies, and oil. Bythe time he died, in 2006, his empire had grown to $25 billion.

He left both a financial legacy and an art legacy, but his mostlasting legacy might be the culture he created. Geoffrey Beattie,who worked closely with him, said that Ken wasn't a businessgenius. His success came from being a principled investor and fromsurrounding himself with good people and staying loyal to them. Inreturn he earned their loyalty.

For the long-term viability of any enterprise, Thomsonunderstood that you needed a viable corporate culture. It, too, hadto be long-term. So he cultivated good people and kept them.Thomson worked with honest and competent business managers and gavethem his long-term commitment and support. From these modestprinciples, an empire grew.

Thomson created a culture that extended out from him and haslived after him. Here are eight rules for creating the rightconditions for a culture that reflects your creed:

1. Hire the right people

Hire for passion and commitment first, experience second, andcredentials third. There is no shortage of impressive CVs outthere, but you should try to find people who are interested in thesame things you are. You don't want to be simply a stepping stoneon an employee's journey toward his or her own (very different)passion. Asking the right questions is key: What do you love aboutyour chosen career? What inspires you? What courses in school didyou dread? You want to get a sense of what the potential employeebelieves.

Find out more about the remaining seven rules.