goes through the steps, it gets better and better at each step and the results compound. This, Collins explains, is why some companies experience sustained momentum of their growth, become great companies, and wield industry influence.
“The key to successful leadership today is influence, not authority.” — KEN BLANCHARD
them and the results compounded without the organization expending significantly greater effort. Collins’ example of Intel’s flywheel serves as a good example. STEP 1 Design chips that customers want. STEP 2 Price the chips high before the com- petition catches up. STEP 3 Drive down unit costs. STEP 4 Achieve greater profits even as prices fall. STEP 5 Invest profits into R&D. BACK TO STEP 1 Design chips that customers want. Each step naturally leads to the next. Each time the company
im Collins, author of “Good to Great,” wrote a short book to accompany it called “Turning the Flywheel.” In this 40-page book, Collins explains one of the most profound concepts surrounding what makes great companies great and able to experience compounded and sus- tained growth. He provides examples from companies such as Amazon, the investment company Vanguard, Intel, and the Cleveland Clinic. These organizations looked at the practices that gave their organization the best results. Then they incorpo- rated those best practices into no more than four to six steps, each step naturally building on the next, so that completing the last step put the organization back at the begin- ning. Each time the organization took the steps, it got better and better at J
WHAT IS YOUR BUSINESS FLYWHEEL?
You can apply the concept of the flywheel to a real estate consulting and sales business. The following is an example of applying it to company marketing efforts. STEP 1 Create valuable content. There are many forms of content, including written, long-form videos, short videos, and podcasts. Establish a weekly goal of producing one writ- ten piece of content on the topic of real estate and real estate investing
that others find valuable. Place the content on the
company’s website or in publications such as Think Realty as well as other national and local publications. Also
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