Review “Good To Great” by Jim Collins
Snippets / Takeaways
Good in the Enemy of Great
First Who Then What
Get the right people on the bus get the wrong people off the bus and get the people in the right seats
Never stop trying to be qualified for the job
You can accomplish anything in life provided you don’t care who gets the credit Harry S Truman
Spending time and energy trying to motivate people is a waste of time
If you have a cancer in your arm you must have guts to cut off your own arm
Hire 5, work them like 10 and pay them like 8.
Greatness is a matter of conscious choice
Discipline people discipline thoughts discipline action
Timeless principles like laws of physics they never change
Extract maximum learning from the tuition you’ve paid
Put your best people on the best opportunities, not the biggest problems.
The Level 5 Hierarchy:
Level 5 leaders channel their ego needs away from themselves and into the larger goal of building a great company. It’s not that Level 5 leaders have no ego or self-interest. Indeed, they are incredibly ambitious – but their ambition is first and foremost for the institution, not themselves.
Level 1 HIGHLY CAPABLE INDIVIDUAL
Makes productive contributions through talent, knowledge, skills, and good work habits.
Level 2 CONTRIBUTING TEAM MEMBER
Contributes individual capabilities to the achievement of group objectives and works effectively with others in a group setting.
Level 3 COMPETENT MANAGER
Organizes people and resources toward the effective and efficient pursuit of pre-determined objectives.
Level 4 EFFECTIVE LEADER
Catalyzes commitment to and vigorous pursuit of a clear and compelling vision, stimulating higher performance standards.
Level 5 LEVEL 5 EXECUTIVE
Builds enduring greatness through a paradoxical blend of humility and professional will.
Summary: The Two Sides of Level 5 Leadership
|Professional Will Creates superb results, a clear catalyst in the transition from good to great.Demonstrates an unwavering resolve to do whatever must be done to produce the best long-term results, no matter how difficult.Sets the standard of building an enduring great company; will settle for nothing else.Looks in the mirror, not out the window, to apportion responsibility for poor results, never blaming other people, eternal factors, or bad luck.||Personal Humility Demonstrates a compelling modesty, shunning public adulation; never boastful.Acts with quiet, calm determination; relies principally on inspired standards, not inspiring charisma, to motivate.Channels ambition into the company, not the self; sets up successors for even greater success in the next generation.Looks out the window, not in the mirror, to apportion credit for the success of the company – to other people, external factors, and good luck.|
The Stockdale Paradox
Never lose faith in the end of the story. Prevail in the end and make the experience into the defining event in your life that is the end you wouldn’t trade it for anything.
The optimist didn’t make it out of the prision camp, we would be out by Christmas, etc… They died of a broken heart.
“You must retain faith that you will prevail in the end, regardless of the difficulties.
AND at the same time…
You must confront the most brutal facts of your current reality, whatever they might be.”
Life is unfair – sometime to our advantage, often to our disadvantage. What separates people isn’t the presents or absents of difficulty, but how they deal with the inevitable difficulties of life.
Simplicity within the Three Circles): To go from good to great requires transcending the curse of competence.
What you can be the best at & What you can not be the best at
What Drives you economic engine?
What are you deeply passionate about?
Understanding of what you CAN be the best at, not just what you want to be the best at.
Just because you are good at something isn’t a “HedgeHog Concept”, you must be able to be “The Best”. Transcend the curse of competence.
What are you so passionate about that you could that you can merry what you can be the best in the world at?
What are you so passionate about that you can merry what drives your economics?
What are you so passionate about that you can produce incredible results over time?
The Flywheel and the Doom Loop
Those who launch radical change programs and wrenching restructurings will almost certainly fail to make the leap.
It will take some time to get a flywheel moving, but when you do, it will eventually take on the momentum of it’s own and continue moving with little effort.
Good to Great is an excellent resource for fitness entrepreneurs as leaders in their own businesses and in the field. There are a number of relatable concepts that can be applied to small or medium sized fitness businesses. Author, Jim Collins, describes the strict research criteria used to come up with the answers as to why some companies become great and others remain in mediocrity. As part of the Fitness Leaders Alliance, we strive, and hope to encourage others, to greatness. Mediocrity runs rampant in the industry and those that aren’t satisfied with it will really get a lot out of this book in terms of real life examples and strategies you can implement now to get there. Focus on your hedgehog concept. If you don’t know what that is, check out this book.
- Get the right people on the bus and put them in the right seat. Too often entrepreneurs hire based on need instead of hiring people that fit the culture of the business. You’re better to have no one fill a needed position then to fill it with the wrong person. Doing so will cost you more time and money in the long-run.
- The best leaders and the most successful businesses involve the entire team in making important decisions. The head of the organization will always make the final decision but he/she relies on the input of those on the front line, who are face to face with the customers and see things from a different perspective. This is vitally important if you’re not actively training or teaching classes in your fitness business.
- The Hedgehog Concept could be the single most important concept you ever use in your business. Are you passionate about what you do? I don’t just mean the activity but why you do it. What can you be the best I the world at? Can you deliver your service in a way no one else can, or be among the best at delivering it a certain way? And what is the “economic engine” of your business? What is the measure of whether your business is moving in the right direction?
- If you don’t know what your Hedgehog Concept is then INVOLVE YOUR TEAM in figuring it out.
- Businesses that excel and grow over time are those that acknowledge where the world is headed, and build their services around meeting the needs of that world. The businesses that level off, or worse, vanish, are those that continue to do things the same way, despite what the world around them is saying.
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