8 sure fire ways to transition your company from good to great by jim collins
TRANSCRIPT
8 Sure Fire Ways To Make
Your Company Go From
Good To Great by Jim
Collins
Source: Flickr CC Dennis Wilkinson
Good To Great By Jim Collins
• Analyzed 11 companies that
were selected based on a
period of growth and
sustained success that was
far beyond the market or
industry average – made the
transition from good to great
• Used 11 comparison
companies that were in the
same industry and had similar
opportunities – did not make
the transition from good to
great
Typical Business Problems
1. Shifting the blame rather than taking responsibility
2. Focusing on the problems not the solutions
3. Avoiding the truth that something is going wrong
and needs to change
4. Not staying focused
5. Going after too many opportunities
6. Getting distracted by new trends
7. Going back and forth with decisions
8. No solid foundation to last for the future
How Good To Great Addresses
These Problems
1. Leaders who plan for success beyond their term
2. Having the right people before creating the
strategy for your business
3. Not afraid to pivot the business based on data
and research
4. Find the one thing that makes your company
great and stick to it
5. Stay disciplined
6. Only incorporate technology when it fits your
company’s vision, not because it’s trendy
7. Once you gain positive momentum, build upon it
8. Build a company that is sustainable for the future
Source: Flickr CC Gabe Austin
PROBLEM: SHIFTING THE BLAME
Level 5 qualities:
• Planning for the future so
the next successor can
achieve even greater
success
• More plow horse than
show horse
• Take full responsibility
rather than shifting the
blame
Source: Flickr CC Pedro Ribeiro Simoes
SOLUTION: LEVEL 5 LEADERSHIP
Source: Flickr CC Nick Wheeler
PROBLEM: NOT FOCUSING ON SOLUTIONS
Source: Flickr CC Bill McChesney
• Assemble a high-quality, high-talent
team before developing a strategy
• Decide if the person is in the wrong
seat or should not be on the bus and
then act on it
• Put your best people on your biggest
opportunities
SOLUTION: NEED THE RIGHT PEOPLE
Source: Flickr CC Andrixnet64
PROBLEM: AVOIDING TRUTHS
• Lead with questions, not
answers
• Find the problem without blame
• Focus on consumer trends and
preferences and don’t be afraid
to make a change
Source: Flickr CC Fredrik Rubensson
SOLUTION: CONFRONT BRUTAL
FACTS
Source: Flickr CC Tambako The Jaguar
• The Fox is impressively
clever, but pursues
many ends at the same
time and becomes
scattered
PROBLEM: NOT FOCUSED
Source: Geograph.org.uk
• The Hedgehog's simple but
surprisingly effective response
is to roll up into a ball
• Stick to your “one big thing”
SOLUTION: BE A HEDGEHOG!
WHAT YOU
CAN BE THE
BEST IN THE
WORLD AT
WHAT
DRIVES
YOUR
ECONOMIC
ENGINE
WHAT YOU ARE
DEEPLY
PASSIONATE
ABOUT
THE HEDGEHOG PROCESS
What you get out of the
Hedgehog Process is the
understanding of what
gets your customer in the
door, clarity of where you
are headed, and the
confidence around how
you are different.
Source: Flickr CC Carterse
PROBLEM: CHASING OPPORTUNITIES
• Stay fanatically
consistent to your
Hedgehog circles
• Discipline should not be
based on fear and
tyranny
• “Stop doing” lists are
more important than “to
do” lists
Source: Flickr CC David Yu
SOLUTION: STAY DISCIPLINED
Source: Flickr CC Ewan Topping
PROBLEM: SHINY OBJECTS
• Use technology as an accelerator of
momentum, not a creator of it
• Mediocre companies are motivated by
the fear of being left behind
• Great companies are motivated by the
potential of results
Source: Flickr CC Justin Taylor
SOLUTION: DOES IT FIT?
Source: Flickr CC Austin Kirk
• Reactive decision-making
• Overextension into too
many diverse areas
• Frequent changes in
leadership and personnel
• Disappointing results
PROBLEM: DOOM LOOP
Source: Flickr CC Ken Bosma
• Success or failure does
NOT occur suddenly
• Gain years of positive
or negative momentum
• Reinforce hedgehog
competencies
SOLUTION: FLYWHEEL
Source: Flickr CC Realize_photo
PROBLEM: NO SOLID FOUNDATION
Source: Flickr CC Craig Damlo
• Don’t need a “great idea”, instead need a
company that can prosper beyond any
single leader
• Pursue seemingly unachievable goals to
become a visionary
• Be prepared to change everything about
the company except the basic beliefs
SOLUTION: BUILT TO LAST
How We Applied The Principles
• Wanted to take these principals out
of the theory and figure out how to
apply them to our company
• Brainstorm how each of these
concepts effect our business and
reflect often to make sure we are on
the right track
FROM CONCEPT TO ACTION
Source: Graphic Stock
Source: Flickr CC Rachel Kramer
• Level 5 Leader.
Check.
• Our CEO embodies
the plow horse not
show horse model by
not telling team
members to figure it
out, but trying it
himself and being
accountable to work
just as hard as his
team
LEAD BY EXAMPLE
Source: Flickr CC Mustafa Khayat
• We have several opportunities
to “raise the red flag” so
everyone is in the loop and has
a voice
– Anonymous tool to
evaluate how each team
member feels each week
– Weekly meetings with
pressing discussion topics
OPPORTUNITY & TRANSPARENCY
Source: Flickr CC Kecko
• When an employee is
struggling, give them the
option to try switching seats
before getting off the bus
• We found that some people
were not a fit for their seat or
the bus
• With others we found that we
were not playing to their
strengths and gave them the
opportunity to have a role to
succeed
ON OR OFF THE BUS, SWITCH SEATS
Source: Flickr CC Yoel Ben-Avraham
• Staying true to our Hedgehog was more
difficult than we thought because new and
exciting opportunities always come up
• However, anything that is out of our
normal process our team debates and
evaluates to make sure we stay true to the
3 circles
OPPORTUNITIES THAT MAKE SENSE
Source: Flickr CC Kim Alaniz
• Even though we are a digital agency, we try
not to be swayed by shiny objects
• We stick to our process of research and
audience alignment to make sure these new
offerings make sense for us
• Just because all your friends are on
Snapchat, doesn’t mean your business
should be
AVOID SHINY OBJECTS
THANK YOU!
Connect
with me!
Alix ParkerDigital Strategy
Manager
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