Great by Choice

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Why do some companies thrive in uncertainty, even chaos, and others do not? Based on nine years of research, buttressed by rigorous analysis and infused with engaging stories, Jim Collins and his colleague, Morten Hansen, enumerate the principles for building a truly great enterprise in unpredictable, tumultuous, and fast-moving times.

I offer this summary of a great business bestseller to share the core concepts and inspire you to adopt the lessons. If you like the presentation, I welcome you to download it and share it via Twitter and LinkedIn.

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Great by Choice

  1. 1. Great by Choice Jim Collins and Morten Hansen Summary by Pete Modigliani
  2. 2. Great By Choice• Deciphering how 10Xers outperform their industries• 20 Mile March – Bullets and Cannonballs – Death line• Top 10 Highlights from Amazon Kindle readers 2
  3. 3. 10X CompaniesBeat their industry by at least 10 times over 15 years 3
  4. 4. 10Xers Followed the 20 Mile March Principle• Keep a steady pace – 20 miles per day, every day• Focus on consistent, long term performance• Concrete, clear, intelligent, rigorously pursued performance mechanisms 4
  5. 5. Fire Bullets, Then Cannonballs• Fire a small bullet first (low cost, risk, distraction)• Continue to make adjustments from learning• Fire calibrated, calculated cannonballs (big bet) 5
  6. 6. Leading Above the Death LineBuild cash reserves and remain hyper-vigilant zooming in and out (detail vs. big picture)This focus reduces surprises and the impact ofunhelpful developments (productive paranoia) 6
  7. 7. Myth: Successful Leaders Are Bold, Risk-Seeking Visionaries Reality: Leaders observed what worked, figured out why it worked, and built upon proven foundations.They were disciplined, empirical, and paranoid. 7
  8. 8. Myth: Innovation Distinguishes 10X CompaniesReality: While 10X cases innovated a lot, moreimportant is the ability to scale innovation, to blend creativity with discipline. 8
  9. 9. Myth: You’re Either Quick Or Dead Reality: 10X leaders figure out when to go fast, and when not to 9
  10. 10. The critical question is not whether you’ll have luck, butwhat you do with the luck that you get 10
  11. 11. 10Xers understand they cannot control or predict the world around them They accept full responsibility for their own fate 11
  12. 12. 10Xers Live By A Triad of Core Behaviors 10X Leadership Fantastic DISCIPLINE Level 5 Ambition Productive Empirical PARANOIA CREATIVITY 12
  13. 13. Discipline is Consistency of Action• Consistency with values• Consistency with long-term goals• Consistency with performance standards• Consistency of method• Consistency over time 13
  14. 14. True Discipline Reject pressures to conform in ways incompatible withvalues, performance standards, and long-term aspirations For a 10Xer, discipline is self-discipline Having the inner will to do whatever it takes to create a great outcome, no matter how difficult 14
  15. 15. During Times of UncertaintyMost people look to authorityfigures, peers, or group norms for their primary cues about how to proceed 10Xers look to empirical evidence • Relying upon direct observation • Conducting practical experiments • Engaging directly with evidence 15
  16. 16. 10xers Don’t Favor Analysis Over Actionthey favor empiricism as thefoundation for decisive action 16
  17. 17. Want to be a 10Xer? Buy a copy at Amazon.com 17

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