Good to Great by Jim Collins

About the book:

Good to Great is a fact-based exploration of the best companies that went from mediocre performance to consistently outperforming the market by three times or more. It focuses on the characteristics that differentiate these companies from others in their industry.

Jim Collins categorizes his findings into three main ideas:

1. Disciplined people: the right people do not need to be disciplined or motivated, they do not need supervision, and they are even more important than having a vision and/or strategy.

2. Disciplined thought: Strategy cantered around facts and adjusted in a timely manner.

3. Simple,  fact-based, consistent approach to planning and to problem-solving.

Buy book, e-book, or audio book.

Actionable lessons:

1) (NOT) To-do list:

We are all good at making to-do lists and ticking things off. That's one most basic forms of management. But, how much time do you spend doing things that are not in your list? Or how many things that are in the list should NOT really be there?

Knowing that not to do is just as important as knowing that to do. Look at your list and reflect on where you have been spending your time. Think about what you are trying to accomplish. Is there something that you should stop doing? You should have a list for that too.

2) Level 5 Leadership:

What is the difference between the Wright brothers and Samual Langley?

In 1903, both (Wrights and Langley) attempted the first airplane flight. Langley had the money, the knowledge, and the most capable team in the industry. The Wright brothers had a mission and commitment to the people helping them.

After hundreds of failed attempts, on December 17, 1903, the Wright brothers made it. Langley gave up after a few very expensive trials. The Wright brothers were level 5 leaders, Langley was level 4. Similarly, Bill Gates is level 5, Donald Trump is not.

Level 5 leaders are courageous, (often) quiet, and above all: humble. I would recommend practicing this last trait by volunteering for an organization of your choice. Once a week, once a month, whatever best fits your schedule. 


3) How to set goals:

Draw three overlapping circles with the following titles:

What can bring high profits to your life or company?
What can you be the best at?
What are you passionate about?

The activity that meets these three criteria  is what you should be doing. This is what all great companies do.

Once you set up your goals, it is equally important that you keep yourself accountable. Make sure to judge yourself based on what you initially planned to do, no what you ended up doing.