Good to Great is considered to be one of the top business books of all time. Its in-depth analysis and stories show the rise of companies that made the leap to great. In the business landscape, there are lots of good companies, followed by better companies. Few make it to the ranks of great, and as the CEO of HireVue says constantly, “it’s easy to build a mediocre company, it’s hard to build a great company.”
It’s now 15 years since being published and some of the great companies have fallen from the great status. Circuit City failed to adapt to the surroundings and stopped following the things that made them great. Regardless of where the great companies are now, there is valuable lasting insight that will help you push your company to the next level, regardless the position you sit in.
Level 5 Leadership
Quiet, humble, modest, reserved, shy, gracious, mild-mannered, self-effacing, understated, not the typical attributes to describe CEO’s. The Good to Great companies didn’t have typical CEOs though; they had great CEOs with these traits. Level 5 leaders aren’t in for the fame or glory, but were ordinary people pushing the status quo to get great results. Collins references the window and the mirror example, similar to the doctor study from Shane Snow’s Smartcuts (previous post). It’s easy to be a good leader, but do you have the rigor, not ruthlessness, to push your team and company and become a great leader, a level 5 leader.
Right people on the bus, in the right seats
Working in the talent acquisition space I’ve learned the importance of hiring the right people. Wrong hires cost millions to organizations, and hinder the progress of those around them. Collins gives the profound analogy of getting the right people on the bus. He even pushes a step further, the right people on the bus and in the right seats. If you have the right people on the bus the problem to motivate and manage almost goes away. “The moment you fill the need to tightly manage someone you've likely made a hiring mistake. The right people don't need to be managed or motivated.”
You still have to guide and teach employees while establishing an environment with guidelines they can flourish in. Collins gives the analogy of an air traffic controller. The task is to send and land airplanes. The most important thing is the result, which is safety. Controllers have freedom and responsibility within the framework of a highly developed system, and ensure the end goal is met.
Discipline
Everyday we have the right to choose. “Greatness is not primarily a function of circumstance, greatness is first and foremost a function of conscious choice and discipline.” Collins shares the story of Dave Scott, six time Hawaiian Ironman Triathlon winner. “In training, Scott would ride his bike 75 miles, swim 20,000 meters, and run 17 miles - on average, every single day. Dave Scott did not have a weight problem! Yet he believed that a low-fat, high-carbohydrate diet would give him an extra edge. So, Dave Scott - a man who burned at least 5,000 calories a day in training - would literally rinse his cottage cheese to get the extra fat off. Now, there is no evidence that he absolutely needed to rinse his cottage cheese to win the Ironman; that's not the point of the story. The point is that rinsing his cottage cheese was simply one more small step that he believed would make him just that much better, one more small step added to all the other small steps to create a consistent program of super discipline.”
What’s the cottage cheese in our life we need to rinse?
Creating a great company
CEO of LinkedIn, Jeff Weiner, created a Venn diagram outlining people he enjoys to work with.
As I read through Jim Collins book, I found it similar to the Venn diagram of how to take your company to the next level.
You need deep passion, discipline and an entrepreneurial spirit; otherwise you’re in the game for the wrong reasons.
It’s easy to be good, a little harder to better, but extremely hard to be the best. Do you want to be good, better or best?
My rating – 4/5
Should you read – You almost owe it to yourself to read Good to Great. As considered one of the classics, Good to Great has principles that anybody could use. With as much research you’re bound to find things applicable to yourself, and will enjoy the numerous stories. It was hard for me to keep the companies and CEOs straight, but it’s worth the investment and time.