There are many books out there on how to make it, shake it, break it and I thought Jim Collins’ ‘Good to Great’ was going to be just another naff read. The fact that Good to Great came in audio was the clincher as it was a convenient way to subliminally take it all in while travelling. I was really surprised with the book as it gives many powerful timeless principles that we all need reminding for business and indeed life. The integrity of the book is underpinned by an in-dept anlaysis of how 11 organisations are led by 11 extraordinary level 5 leaders from good to great. A great read for both aspiring and established entrepreneurs. Here are a few of my favourite twitter-size chunks;
Get the Right people on the Bus – the best people do not need to be managed.
be sure to incentives the right people
When in doubt, don’t hire
Get rid of the wrong people for the sake of the company.
Results, Discipline, Modesty, Luck
Fun – Having fun gets more done
Do what needs to be done
Set standards! Driven by inspired standards
A culture of Discipline – develop a rigorous culture and make rigorous decisions.
Build a culture on discipline, around all 3 circles to create your own Hedgehog Concept.
Breakthrough results come about by a series of good decisions!. Diligently executed and accumulated,one on top of another
Distinctive decision making process based on 1) facts of reality 2) frame of reference for all decision!
Face the most brutal facts of your reality – Stockdale Paradox
We must retain faith that we will prevail in the end and face the brutal fact of reality
Life is unfair, sometimes to our advantage, sometimes to our disadvantage!
Key elements of greatness are deceptively simple and straight forward – strip away the noise and focus on the few things that make the most impact.
Be the Hedgehog not the Fox
Hedgehog Concept – the one unified idea that makes everything else irrelevant. See whats essential and ignore the rest.
The Hedgehog Concept is an incredibly simple Frame of Reference so that good decisions are make.
3 circles 1) Best 2) Passion 3) Drive (Economic Reality)
Good to great companies have a deep understanding of their 3 circles and translate this into a Frame of Reference.
A Hedgehog Concept is an understanding of what you can be the best at, an intersection of the 3 circles. It is just as important to understand what you cannot be best at.
If you cannot be the best in the world at your core business….then your core business cannot form the basis of your Hedgehog Concept.
To go from good to great requires transcending the curse of competence!. Do what you are great at.
Few startups respond to growth and success in the right way and it no longer becomes fun. Exciting startups become mediocre and the cancer of mediocracy begins to grow.