8 Top lessons for entrepreneurs from
"Built To Last" 👇
"Built To Last" 👇
1. You don’t need a great idea to start a great company.
🔸Few of the visionary companies in the book begin with any specific idea.
🔸The success of visionary companies comes primarily from successful underlying processes and core values.
🔸Few of the visionary companies in the book begin with any specific idea.
🔸The success of visionary companies comes primarily from successful underlying processes and core values.
2. Don’t make “maximizing profit” your primary goal.
🔸Paradoxically, visionary companies make more money than the more purely profit-driven comparison companies.
🔸Paradoxically, visionary companies make more money than the more purely profit-driven comparison companies.
3. Charismatic, visionary leaders are not required.
🔸Visionary companies benefit from strong leadership, but the book found the best leaders were more akin to architects building a company based on human ideals and values.
🔸Visionary companies benefit from strong leadership, but the book found the best leaders were more akin to architects building a company based on human ideals and values.
4. There is no “correct” set of core values for a visionary company.
🔸Similarly, two companies with opposite values can both be visionary and highly successful.
🔸Similarly, two companies with opposite values can both be visionary and highly successful.
5. Visionary companies set Big, Hairy, Audacious Goals (BHAGs)
A good way to develop your BHAG is to look for the alignment in three areas:
1) What are you deeply passionate about?
2) Currently, what drives your actions and income?
3) What can you be the best in the world at?
A good way to develop your BHAG is to look for the alignment in three areas:
1) What are you deeply passionate about?
2) Currently, what drives your actions and income?
3) What can you be the best in the world at?
6. Visionary companies almost religiously preserve their core ideology.
🔸It is the translation of intentions into concrete action and results that make the difference.
🔸It is the translation of intentions into concrete action and results that make the difference.
7. Visionary companies succeed mainly through experimentation.
🔸First, determine your core values and why you exist. Next, try a lot of stuff and see what works.
🔸First, determine your core values and why you exist. Next, try a lot of stuff and see what works.
8. Visionary companies focus on beating themselves, not the competition.
🔸Any Lean practitioner knows that the goal of continuous improvement is perfection and never ends.
🔸Any Lean practitioner knows that the goal of continuous improvement is perfection and never ends.
Thanks for reading!🙏
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