Moving From Good to Great

Anybody who starts a new company wants to do the best they can. The question remains, how do you go from being simply good to being absolutely great? 

Here are 3 key tips from Jim Collins, author of the best selling book, “Good to Great”. These are not easily achievable, but certainly worth thinking about every step of the way in starting and growing your company into a successful, sustainable business.

1. First who…then what. “People are your most important asset” turns out to be wrong, People are not your most important asset. The right people are. Get the right people “on the bus”, get the wrong people “off the bus”, and then get the right people in the right seats on that bus….and then you can figure out where to “drive the bus”…..or, in other words, lead your business in keeping with your vision and your strategy.

2. Confront the brutal facts (yet never lose faith). You must maintain unwavering faith that you can and will prevail in the end, regardless of any difficulties, AND at the same time have the discipline to confront the most brutal facts of your current reality, whatever they may be. Be prepared to adapt, improvise and overcome any obstacles in your pursuit of success.

3. A culture of discipline. All companies have a culture, some companies have discipline, but only a few companies have both — creating a culture of discipline. When you have disciplined people, you don’t need much hierarchy. When you have disciplined, focused thought, you don’t need levels of bureaucracy. When you have disciplined action, you don’t need excessive controls. When you combine a culture of discipline with an ethic of entrepreneurship, you get the magic of great business performance.

Jim Collins goes on to say, “the good is the enemy of the great.” Just because something is your core business–just because you may have been doing it for years–does not necessarily mean you can be the best in the world at it. And, if you cannot be the best in the world at your core business, then your core business absolutely cannot form the basis of a great company.

At New Mexico Community Capital, we help Native entrepreneurs discover and apply those business tools that will help them identify their core business strengths and move from “good to great” in achieving sustainable success.

Thanks to Jim Collins and his book for these great tips. For more from Jim, you may want to read his book, Good to Great. You can also give us a call at (505) 924-2820. As experienced entrepreneurs, we’re always happy to chat with you about the business challenges you may be facing.