Flywheel Effect in Business: Unstoppable Momentum (Jim Collins)

Flywheel Effect in Business: Unstoppable Momentum (Jim Collins)

What is Jim Collins’s “flywheel effect”? Why is the flywheel analogy so important to understand in business? The “flywheel effect” is an analogy between a business and a flywheel. A heavy flywheel takes an enormous amount of energy to get going—but once it’s spinning, it only takes a small amount of energy to keep it turning or to increase its speed. Good-to-great companies achieve their key strengths steadily and doggedly; they stay patient in the confidence that, with the right cogs in place, the breakthrough will come. Jim Collins’s flywheel effect came from the desire to head off the notion

Good to Great Companies: Complete List + 5 Powerful Lessons

Good to Great Companies: Complete List + 5 Powerful Lessons

What are the Good-to-Great companies featured in Jim Collins’s book Good to Great? How did they qualify to be “good to great”? What can you learn from them? Over five years, Collins’s team of 21 researchers reviewed close to 6,000 articles and generated over 2,000 pages of interview transcripts to determine whether and how companies can go from good to great. We’ll cover the good-to-great companies featured in the book and the lessons they teach us about how to take other companies from good to great.

CDO Managers: Worth the $26 Million Paycheck? (Big Short)

CDO Managers: Worth the $26 Million Paycheck? (Big Short)

What does a CDO manager do? How much can CDO managers make? What role did one CDO manager play in The Big Short? A CDO manager is someone who manages collateralized debt obligations. A CDO manager may also repackage original CDOs (themselves repackaged bundles of mortgages) into new towers of bonds. We’ll cover what CDO managers do, how much they can make, and why one CDO manager was ridiculed in the book and movie The Big Short.

Hedgehog Concept: Complete Guide—What It Is, How to Use It

Hedgehog Concept: Complete Guide—What It Is, How to Use It

What is Jim Collins’s “hedgehog concept”? Why is hedgehog thinking important in business, and how can you identify your personal and professional hedgehog concepts? A hedgehog concept is a simple concept in response to the complex facts of reality. The hedgehog principle was introduced by Jim Collins in his book Good to Great, in which he argues that truly great companies are oriented around a hedgehog concept. We’ll cover the Good to Great hedgehog concept, hedgehog concept examples, and the questions to ask yourself and your team to find your own hedgehog concept.

Big Hairy Audacious Goal (BHAG): Definition + Examples

Big Hairy Audacious Goal (BHAG): Definition + Examples

What is a BHAG, or Big Hairy Audacious Goal? Why do you need one if you want your business to be successful? A BHAG (Big Hairy Audacious Goal) is a huge, seemingly impossible objective that can inspire outsiders and stakeholders alike. The concept of the BHAG (pronounced bee-hag) is explored in Jim Collins’s Built to Last. We’ll cover what a good BHAG or Big Hairy Audacious Goal looks like and how it ties in with your hedgehog concept, another necessity for a successful business.

Change Your Mindset: 4 Simple Steps, From Fixed to Growth

Change Your Mindset: 4 Simple Steps, From Fixed to Growth

You’ve heard about Carol Dweck’s growth mindset and fixed mindset. What’s your mindset? People can have a mix of the two mindsets, or they can apply a fixed mindset in certain situations and a growth mindset in others. You may have fixed beliefs about your intelligence but a growth mindset (believing you can improve) when it comes to other qualities. However, one mindset or the other — fixed or growth — tends to dominate your life. If you have a fixed mindset, how do you change your mindset to be more successful? We’ll cover how to change your mindset from

Myth of Socioeconomic Mobility in America (Hillbilly Elegy)

Myth of Socioeconomic Mobility in America (Hillbilly Elegy)

How flexible is socioeconomic mobility in America? Is socioeconomic mobility a myth? And when is economic mobility detached from social mobility? Hillbilly Elegy sets out to explore the struggles of the rural white working class in 21st-century America and the barriers to socioeconomic mobility. The book tells a story of dysfunctional families; substance abuse; the material, spiritual, and moral decline of Appalachia; and the struggles to achieve true economic and social mobility in the United States.