“Good to Great: Why Some Companies Make the Leap… and Others Don’t.” Is a management book by Jim C. Collins that describes how companies can go from being good companies to great companies.
Most companies fail during this segue but “Good to Great” helps you avoid these same failure.
I feel like this book could have been summed up in one page. So that’s what I’m going to try to do here. If you’re interested in more after reading this I would recommend going to the source.
Here are the seven characteristics you’ll need to go from “good to great”.
1: Level 5 Leadership
Leaders who are humble, but driven to do what’s best for the company.
2: First Who, Then What
Find the right people first. Hiring should be based on character not skills. Get your crew on the boat then figure out where you’re sailing. Skills can be learned temperament is much harder.
3: Confront the Brutal Facts
Following stoicism is best. Confront the brutal truth of the situation, yet at the same time, never give up hope.
4: Hedgehog Concept
Three overlapping circles: What do you like doing (“passion”)? What could you be best in the world at (“best at”)? What makes you money (“driving resource”)?
5: Culture of Discipline
Rinsing the cottage cheese, or as Steve Jobs put it you want to paint both sides of the fence.
6: Technology Accelerators
Using technology to accelerate growth, within the three circles of the hedgehog concept. The key is that you need to find your hedgehog first. No technology will help you be great if you’re not dialed in.
7: The Flywheel
Momentum is important. Small changes compound over time can snowball you towards greatness.
It’s Not Just For Companies
Collins and team do a bunch of research to explain these findings. They have a list of companies that became great and others in the same industries that could have but didn’t.
Most people are ok with good but if you want your company it stand the test of time you’ll need to be great. “Good to Great” focuses on company but the concepts apply to many areas of life.