Favourite quote from the author:
Greatness is not a function of circumstances. Greatness is largely a matter of conscious choice and discipline. - Jim Collins
Though this book has 3 important lessons as key takeaways:
- Adopting new technology.
- Go head-on with uncomfortable truths.
- Hedgehog concept.
Let’s go deeper one-by-one..
Lesson1: Adopting new technology.
Every year we’re flooded with the heap of new technology (like Snapchat, Instagram, Twitter etc.) and without knowing its benefits we rush for incepting it in our company & in our life. Reason ??
We feel we might fall behind, if we are late to adopt it or might get ridiculed in society if we are one of the pioneers to try. This is completely false assumption, author suggests that don’t be pessimist approach towards new technology but only jump on the bandwagon once you’re convinced that it will help you.
Lesson2: Go head-on with uncomfortable truths.
Jim coined a term “Realistic Optimism”, which according to him is one of the good qualities which great companies posses. These companies do not put their head in the sand to ignore the hard facts neither they raise their hands in despair.
Whenever your strategy of decision sucked, accept it and deal with it in better way.
Lesson3: Hedgehog concept.
Hedgehog is said to be “king of forrest” because of his unique defense strategy i.e. in any attack situation, he quickly curls up and becomes untouchable, spiky and hard like a rock which lethal predators too can’t break it.
Jim recommends every great company needs to have this strategy wherein they clearly know what they are supposed to do to differentiate themselves and reach to the no.1 position.
Ex: Zappos has their hedgehog strategy, they always thrive to deliver a best possible customer experience for people who are buying shoes online. In order to achieve it, their support team has liberty and rights to take crucial decisions and execute it.
These are three important lessons which is worth noting for every company & business owners.
Hope you enjoyed reading it, as much as I did to collate it.
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