DO YOU WANT YOUR BUSINESS TO THRIVE? Consider Reading ‘Good to Great’ by Jim Collins!
“Good is the enemy of great.” This is how Jim Collins begins his book “Good to Great: Why Some Companies Make the Leap ... and Others Don’t,” which discusses how a handful of companies perfected their business strategies to create great businesses. If you’ve ever wondered why some businesses only last a season while others last 15–20 years, then “Good to Great” is a must-read. Over the past three decades, Collins has analyzed 28 businesses by studying their leadership skills, practices, and business strategies to understand how these companies skyrocketed past their competitors. After conducting dozens of case studies and analyses, Collins outlines several results that make excellent companies stand out. Here are three takeaways from “Good to Great.” The first key takeaway is determining your “hedgehog concept” — a strategy you can use for many years. This approach is based on Greek philosophy: “The fox knows many things, but the hedgehog knows one big thing.” To find your hedgehog concept, ask yourself these questions: What can your company be the best at? What can you and your colleagues be passionate about? What economic indicator should you focus on?
When creating habits and using technology, you don’t need to use everything on the market. There are millions of platforms, software, tools, and technologies to use within your business, but which one will strengthen your hedgehog concept? Collins suggests only implementing technology that complements your business. He recommends waiting before jumping onto a new trend, platform, media platform, and technology. Be sure it aligns with your values, goals, and hedgehog concept. What do you do when your business is faced with uncomfortable situations, facts, or data? Great companies and business leaders don’t sweep hard facts under the rug and deny them. However, leaders don’t wave the white flag or give up. Instead, great companies and business owners acknowledge hard facts, identify pain points, and implement strategies to help overcome struggles and strengthen abilities.
Along with learning tips and strategies from these three lessons, you will also have a chance to learn more about Collins’ case studies, what companies he studied, and the techniques used to create business powerhouses. You can find “Good to Great” online and anywhere books are sold. Happy reading!
HAVE A Laugh
We know the Olympics as one of the most popular sporting events in the world, if not the most popular, because there is an athletic event for everyone. But once upon a time, Olympians used to compete in the fine arts, with competitions in painting, sculpture, architecture, literature, and music! These art categories thrived until the 1940s when the Olympics was put on hold due to World War II. And when the Olympics returned, the International Olympics Committee had a new president, Avery Brundage. Brundage wanted the Olympics to represent sports without the influence of money or power. And to him, the arts could be bought. Since artists naturally rely on selling their Fine Arts: The Forgotten Olympic Event How This Olympic Category Came to Be Forgotten
creations for money, a gold medal could majorly inflate the value of their work.
So, after much debate on the committee, it was agreed that the art categories would be removed to preserve the event’s integrity.
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