HEADLINES: (Growth Summit Highlights Day 1, 2 minute interviews)
Best News from Jim Collins -- THE question that got the attention of a lot of entrepreneurs and their teams in the room last week was when Jim was asked whether founders were able to actually build a company beyond start-up i.e. would they be able to go from telling time to being clock-builders. And the answer is yes!! In the great companies it was NOT the case that the entrepreneur had to be replaced with professional management. Whew! This was reinforced with Hermann Simon's research that the tenure of the founder/CEO in Hidden Champions was over 20 years.
Jim Collins' Top Ten Books -- Jim spoke for over 3.5 hours, so difficult to summarize everything, however, here's a link to a short 2 minute interview I conducted asking him about the specific disciplines necessary to build a great company. There is also a lengthier interview available as well -- both in the right hand column at www.gazelles.tv. And below are listed Jim Collins top ten recommended books and top ten courses.
Aubrey Daniels takes on Dan Pink -- Aubrey carefully corrected Pink's assertion that traditional rewards can't drive creative thinking -- here's the link to a short 2 minute interview where I asked Aubrey to elaborate on his Dan Pink comments (www.gazelles.tv -- in the right hand column). More to Aubrey's point, most reward/compensation schemes are useless in driving performance since they are not reinforcing to the performer, whether it's highly creative problem solving work or routine process activities. What does work all the time are PICs -- Positive, Immediate, and Certain reinforcers. The best example? A scoreboard!! That's why the BHAG video scoreboard, posted where everyone can see it at Australia-based Red Balloon, is such a powerful tool. Go to right hand column of www.gazelles.tv and look for the "BHAG -- Red Balloon" video to see their BHAG scoreboard.
Theme/Celebration for 2009/2010 -- and to add a little spice to the Growth Summit, we featured Gazelles customer Wide Open Baja (Christian Hammarskjold, CEO) and one of their $100k high-performance off-road vehicles. If you're looking for a reward for your team for doing a great job, a place to host your strategic planning session, or a customer appreciation event, it's one of the best I've found. Check out their executive excursions and Horsepower Ranch at www.wideopenbaja.com NOTE: Gazelles isn't receiving any compensation for this -- we're just enthusiastic supporters since we know how hard it is to come up with fun executive activities and rewards.
Do you need expert assistance constructing a winning plan for 2010? -- At the Summit, Jim Collins talked about how the best companies are actively taking advantage of the current market conditions to come out as big winners. Are you playing to win in 2010 or not to lose? Take the time now to block out two days to work with your team to develop a solid plan for 2010. If you need help with your Annual Planning, Gazelles can help you. Contact Cindy Praeger at Gazelles (firstname.lastname@example.org or 704-996-0399). If you sign up before December 31, we will help you jumpstart your plan with 1 free month of Rhythm Execution Coaching and Software.
Feedback from Benetton India -- and India Tour Dec 1 -- 3 -- I'll be leading one day workshops in Mumbai Dec 2 and Bangalore Dec 3. I'll also be leading another private session for Benetton India -- this note from Sanjeev Mohanty, CEO of Benetton India post our first session earlier this year. "During our session we had set up a challenging target of 65% growth for the 3rd quarter. I am happy to share that we have achieved this target! We had launched a very creative campaign across the organization and charged up and motivated everyone with the same and it was a great experience. This is an amazing achievement as most of our competitors are either no growth or even worse, de-growth in business. The most amazing part of the story was that more than the sales guys the supply chain, design, manufacturing and HR guys were chasing the numbers on an hourly basis." The Rockefeller Habits tools are effective across various cultures.
Jim Collins Top Ten Lists:
Ten Books Jim Collins Recommends
1. Churchill, The Second World War
2. Caro, Master of the Senate
3. Goodwin, Team of Rivals
4. Bernstein, Against the Gods: The Remarkable Story of Risk
5. Lewis, Moneyball
6. Homer, The Iliad
7. Drucker, The Effective Executive
8. Gardner, Self-Renewal
9. Lewis, Assault on Lake Casitas
10. Manchester, Goodbye Darkness
Jim Collins Top 10 Great Courses from the Teaching Company
1. How to Listen to and Understand Great Music by Robert Greenberg.
2. Great American Presidents
3. Argumentation -- The Study of Effective Reasoning
4. What are the Chances? Probability Made Clear
5. Economic History of the United States, 1900 - 2000
6. Art Across the Ages
7. Dante's Divine Comedy
8. Emperors of Rome
9. The History of Ancient Egypt
10. History of Modern Russia + From Yao to Mao -- 5000 years of Chinese History