At the 2012 Fortune Leadership Summit, Erik and Nan had the pleasure of hearing author Jim Collins speak on a panel of experts. A student and teacher of how enduring great companies grow and become great, Jim is the author of Good to Great, Built to Last, and How the Mighty Fall.
Jim finished the session with a top 10 list for growth firms :
1. Change “what” questions to “who” questions
2. Double your question statement ratio
3. Embrace the “Stockdale Paradox”- keep getting up when knocked down
4. Discover your personal “Hedgehog”- what are you both passionate about and best at?
5. Be clear on your Core Values, Purpose, and BHAG (Big Hairy Audacious Goal)
6. Establish a 20 Mile March
7. Create a “Stop Doing” list
8. Turn-off electronic gadgets one day every two weeks
9. Focus on getting a huge return on your next “luck event”
10. Strive to be useful (would the world miss you if you/your company was gone?)
Does your company put these list items into action? Would they?
Special thank you to Verne Harnish for this information.