Nordic Business Forum 2014, Notes from Jim Collins

Jim has several books and maybe best knowing is “good to great”. The main thinks of his presentation is the books and most of speech are seven characteristic below:

Seven characteristics of companies that went from “good to great”

* Level 5 Leadership: Leaders who are humble, but driven to do what’s best for the company.
* First Who, Then What: Get the right people on the bus, then figure out where to go. Finding the right people and trying them out in different positions.
* Confront the Brutal Facts: The Stockdale paradox—Confront the brutal truth of the situation, yet at the same time, never give up hope.
* Hedgehog Concept: Three overlapping circles: What lights your fire (“passion”)? What could you be best in the world at (“best at”)? What makes you money (“driving resource”)?
* Culture of Discipline: Rinsing the cottage cheese.
* Technology Accelerators: Using technology to accelerate growth, within the three circles of the hedgehog concept.
* The Flywheel: The additive effect of many small initiatives; they act on each other like compound interest.

Source: Wikipedia

My notes in addition of Collins basic methods. They present my own thinking.

“Good is the enemy of the great”
– When think you are good enough, you stop learning and developing. Great companies are never ready. They like developing.

“Is dangerous study success”
– Why is that? I think that Jim means the feeling you get when you study best companies. You find out facts you don’t like or you don’t find anything easy explain.
– That is the key why every company have build their own culture of success.

“What is the great enterprise?”
– It fill is purpose
– People miss you
– I think that this means, that people want belong your company and be proud of it. They want service something bigger than just financial results end of year. They want change the world. Even they don’t say it.

“Great organisations don’t need leaders”
– That means that clever individualist will organise theirs jobs. Somebody is always leading something but team choose best people every needs

“Great leaders have charisma”
– People follow great leaders even if they to not have to
– This is think you should practise example leading volunteers who needs inspiring and motivating without money

How_to_get_people_follow_you_BLANK

 

“Going to fourth level leader to fifth level leader means, that you have to start lead networking”
– You of course can have small team and processes but it means, that you are not the leader who controls everything
– Power of networking are huge. They expand faster than anything but they still need leaders

“Right people to right bus”
– Who is in your team. What if you can’t change the team?
– Best way to build up your favourite team is educate and coach them. You can’t always change the people. Leaders job is help people to grow and learn

“My mission is to get full bus of great people.
My job is the help my people to be great.”

– Jari Junkkari 2014

“Why some leaders fail and some not even the same environment?”

Fanatic discipline
Empirical creativity
Productive paranoia

– Fanatic discipline keeps you on track; empirical creativity keeps you vibrant; and productive paranoia keeps you alive
– You should never lose your discipline. Most companies and people will be successful because they create their own success by step by step
– They learn trough the trip, but they have discipline to do thinks

How_to_achieve_success_BLANK

 

“Innovation doesn’t win”
– It’s how they innovate and how they scale it
– First you should validate and validate then shoot the big gun

“Productive paranoia”
– What can take us out of the game?

“Business oxygen is cash”

“I want to be dumbest person in the room”
– This way you can learn every people. Great leaders remember that other people are best people for their jobs.

“What is your big hairy audacious goal?”
– What really motivates us. Don’t fear change to wordl

“Life is people”

“Return of luck”
– What you do when you get luck? Good or bad?

“Live is a long game. Not just single hand game”

“What you should stop to do?”
– Do you own don’t do list. It’s important decide what you stop because you can’t go forward

“How you can be useful?”
– You should help people

“Winning together is funnier”

 

Questions to ask

* How you define success? What are your metrics?
* Why some leaders fails on same environments?
* Do you and your company to be good or great?

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