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good to great

Summary: Strategies successful companies that have transitioned experience their performance, 

Notes:

  • Spending time and energy trying to motivate people is a waste (get people who are self-motivated)
  • Hedgehog concept = simple framing of what the company does/can do better than anyone else and delivers the most value, and what you’re most passionate about (took avg. of 4 years to arrive at it)
  • Charisma can be just as much a liability as an asset. More important to get people to confront facts
  • Must tie metrics to hedgehog concept (e.g.: Walgreen’s changed from profit per store to profit per customer visit)
  • For execution, need to combine: “culture of discipline” (via hedgehog) and “ethic of entrepreneurship”
  • FYI Synopsis here (via “squeezed books”)

Discussion Takeaways:

  • Steve Job’s 2 x2 of pro / am and desktop / laptop is an awesome example of hedgehog clarification when he returned to Apple and they had too many products
  • Idea of a “stop doing” list is excellent
  • Thoughts on technology maybe dated? Right to talk about it as an end not a means but potential competitive advantages seem to be downplayed
  • How do you balance discipline / focus vs. encouraging creativity? How do you pick your spots?
  • Momentum and the “flywheel” are key for implementation, as is the “preserve the core, stimulate the edges concept