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 A little more than 15 years ago, Jim Collins had just published his first book, the business classic “Built to Last.” The book was the result of a long study of prominent companies and what made them great for years and decades and beyond. Collins was pleased with the result, to say the least. But at a dinner shortly after the publication, a prominent business mind from the West Coast told Collins the book was wonderful, but worthless.
“The companies you wrote about,” the mind said, “were always great.”
That comment made Collins reexamine what he had written and, in short order, sparked the idea for his second book, another business classic, “Good to Great.”
Where Collins’ first book examined great companies that stood the test of time, his second book searched for companies that had jumped from consistent, if unspectacular, performers to companies that lapped the field and outpaced the general markets by three, 10, even 20 times over a period of 15 years.
Time has not been kind to some of the narrative content of “Good to Great” – or to all of the 11 companies featured in its pages, for that matter. During the decade that has passed since its original publication, Gillette was purchased by Proctor & Gamble, Fannie Mae was cast as a national villain for its role in the mortgage crisis and Circuit City closed its physical doors for good.
But much of the business content remains applicable for companies in any industry. Here is some of the best advice.
Be a Level 5 Leader
We all have ambition, but how many of us are ambitious for our own wishes and dreams, rather than for the wishes and dreams of our companies? Level 5 Leaders, a term used by Collins throughout the book, have both professional will and personal humility – a paradoxical mix, yes, but the kind of mix that can help a company be great even after you leave.
Bring in the right people first
If people really are your most important asset – and so many of us say that they are – then run your company with that in mind. Bring in the right people and, in turn, weed out the wrong people for the company. Then figure out where you want to go.
 Pay attention to the hard truth
No matter how cold your reality might be, you need to address the facts and use the answers you find there to move forward. Is your annual revenue down? Are customers walking away more often? Are your costs increasing? If the answers are yes, all right, so be it. Use those difficult answers to find solutions. Just don’t ignore the truth.
Rely on technology, but not too much
There is no doubt that technology is an important part of our personal and business lives. All of these previously inconceivable gadgets can make our lives so much easier and even help us prioritize on the job. But no company has ever gone from good to great and stayed great by relying on technology. Technology can accelerate greatness, but it cannot create greatness.
Figure out your Hedgehog Concept
The most important idea in “Good to Great” is called The Hedgehog Concept, and it consists of three interlocking thoughts. (Perhaps you already have a Hedgehog Concept and don’t even realize it.)
You have to determine your deepest business passions, you have to focus on what drives your economic engine, and you have decide what it is you can do better than anyone else in the world. Put those three things together and you can drive your company anywhere.
Start your winter reading today. Order your copy at www.lawnandlandscape.com/businessbookshelf
The author is a freelancer based in Cleveland.
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