Good to Great

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Good to Great by Mind Map: Good to Great

1. One of my all time favorite business books

1.1. Out of 1,500+ Business and self-help books I have read

2. I summarized this Book in 2014 (100K+ Views)

2.1. I thought I had learned the lessons from the book

2.2. Only to realize that it goes much deeper than I had imagined

2.2.1. Every step of the way

2.2.2. When I thought I had finally figured out Hedgehog principle And the Flywheel

2.2.3. There was room for making it better and better and better Our Hedgehog principle Doing fewer and fewer things

2.2.4. There was room for even more refining There was room for making the flywheel spin even faster By making it tighter and tighter

2.3. I kept on studying the "Good to Great" mindmap and summary I had done

2.3.1. To learn and re-learn the lessons

2.3.2. And apply them with even more clarity

2.4. Why this summary?

2.4.1. Because I have new perspective And new understanding of this book as a result of applying the principles over the last 4 years And a much more improved understanding of entrepreneurship given that I have been running 2000 Books for 4 years

2.4.2. I will share Not only the summary Also, the Lessons I learned and applied and how they helped me

2.4.3. Maybe I will do another summary of this book 4 Years from now :)

3. One Word that defines this Book

3.1. Discipline

3.1.1. People

3.1.2. Though

3.1.3. Action

3.2. The real word behind Discipline

3.2.1. Simplicity

3.2.2. Simplicity leads to Discipline

3.3. So the real word that defines this book

3.3.1. Simplicity

4. Why Good to Great

4.1. Jeff Bezos

4.1.1. Invited Jim Collins to his office To put the book into action at Amazon

4.2. If you are an Entrepreneur or a C-Suite Executive

4.2.1. This book will help you understand the fundamentals of building a GREAT business

4.2.2. Whether it is Day 0 or Day 10,000 year of your business The fundamentals do not change

4.3. Research led by Stanford Business School Professor Jim Collins

4.3.1. Result of Research study of companies that outperformed their peers by 3X over a period of 15 years. Companies that broke through mediocrity Into the realm of greatness

4.4. Every Business lesson is a result of

4.4.1. Rigorous Data

4.4.2. Not opinion

4.5. As Jim Collins says

4.5.1. Greatness is NOT harder than mediocrity

4.5.2. It just involves a different kind of thinking and execution

5. Case Study: 2000 Books

5.1. A combination of

5.1.1. Getting the right people on the Bus - and wrong people off thebus

5.1.2. Hedgehog Principle Doing 1 thing well

5.1.3. Sticking to the 3 intersecting circles

5.1.4. Flywheel 1 simple Content and Marketing strategy

6. Greatness is NOT harder than mediocrity

6.1. Good is the enemy of great

6.1.1. Greatness is rare because it is very easy to settle for a good life.

6.2. it is no harder to build something great than to build something good

6.2.1. it might be statistically more rare to reach greatness but it does not require more suffering than perpetuating mediocrity it involves less suffering and perhaps even less work

6.2.2. clarity about what is vital and what is not that is what makes it all very effective

6.3. this entire book in some ways is about clarity and simplification

6.3.1. you have to realize that much of what we are doing is at best a waste of energy

6.3.2. if we organize the majority of our work around applying these principles and ignored everything else Our lives would be simpler and the results would be vastly improved

6.4. I complicated the 2000 Books business

6.4.1. By doing and trying all sorts of things FB Ads Instagram Linked In SEO Scribble style summaries

6.4.2. Making it harder than it needed to be

6.5. At 2000 Books - Rather than sticking to what was already working even 4 years ago

6.5.1. When I first sold mental toughness book summaries to the 2000 Books Youtube Channel of 5000 subscribers

6.5.2. Instead I chased shiny objects And shiny marketing techniques And shiny new ways

6.6. if it is no harder and the results are better and the process is much more fun; why would you NOT go for greatness?

6.6.1. turning good to great takes energy but the Building momentum adds more energy back into the loop

6.6.2. conversely perpetuating mediocrity is an inherently depressing process and drains much more energy than it puts back in

6.7. At 2000 Books ... Rather than having the courage to simplify

6.7.1. I complicated things Only to come back to realize the power of simplicity

7. The Flywheel and Doom Loop

7.1. The Illusion of the 1 Miracle Moment

7.1.1. There is a MYTH out there That kills countless businesses The Myth of 1 Great Herculean Effort The Heroic Effort The Miracle Moment

7.1.2. Entrepreneurs around the world Spend all their effort and energy Looking for that miraculous hack

7.1.3. Unfortunately, this myth sinks most businesses

7.1.4. Every day we wear stories in the media of "OVERNIGHT" Business success But the truth behind those stories is much much deeper Often the media does not cover a company until they have massive momentum This skews our perception Gives us an illusion of overnight success

7.1.5. In the early phases of building 2000 Books, I fell for this illusion as well I tried a lot of different strategies to get a jumpstart.... to find that miracle hack To "HACK" growth Marketing strategies Hoping that one of them will give us explosive growth

7.1.6. One day FB Ads Another day Youtube Ads Another day

7.1.7. But progress at 2000 Books was very inconsistent And it was very time consuming And it made the business very complex And it HURT my head as the CEO And everything started to slow down

7.2. How do you get a giant 5000 pound metal flywheel to spin at super fast speeds?

7.2.1. Can you do it in one miraculous, Herculean moment?

7.2.2. Or Would you rather? Create Momentum 1 Push at a time Consistent Pushes In one direction Day in and Day out

7.2.3. When Jim Collins interviewed the CEOs of the companies that had gone from good to great And asked them what was that one big push that caused this thing to go so fast? They did not have any spectacular answers Most of them said Well, we just kept on doing things consistently And results came over time

7.2.4. We all instinctively understand a single heave no matter how large is a very small fraction of the entire cumulative effect upon the flywheel

7.3. Unfortunately the failed companies fall for the miracle thinking

7.3.1. What Jim Collins calls The Doom Loop In his timeless Business Classic Good to Great

7.3.2. They are Looking for 1 defining action 1 grand program 1 Miracle Moment 1 Killer Innovation 1 Misguided Acquisition

7.3.3. That will allow them to Skip the difficult, long journey of pushing the flywheel Jump to massive momentum/ breakthrough

7.3.4. But all that does is Spray their focus all over the place Never allowing them to create momentum in any one direction One day they push the flywheel in one direction Another day they push the flywheel in another direction And the 3rd day Ultimately they run out of Time Money Resources

7.3.5. At 2000 Books, I fell for it for a while I thought we were missing a magic strategy I thought all we needed was 1 big hack So we kept on running in different directions These Ads Those Webinars Those Videos Those fancy marketing tricks But what we needed was 1 Flywheel To work it Day in and Day Out Without getting distracted

7.4. The Truth

7.4.1. So.... The truth of Business is that No matter how great the external results may seem, the transformation never happens in 1 Grand Program 1 revolution 1 Lucky break 1 Defining action

7.4.2. Contrary to popular HERO culture Great results come about by a series of good decisions Diligently executed Accumulated on top of one another

7.4.3. At 2000 Books Only when I decided to STOP looking for Hacks Fixes New Growth Strategies And instead focused on And let go of everything else Consistently taking action on those things Only then Did the business take off

7.4.4. Momentum is created slowly Step-by-step Action by Action Decision by decision Cumulative Turn by turn of the flywheel Over time Might not happen But it will happen

7.4.5. The Key is Pushing in one consistent direction Each Push building on the previous thousands of pushes Accumulating Momentum Rather than hoping to "SPARK" momentum

7.4.6. It Feels Organic Rather than one FLASH/Heroic Moment

7.4.7. As Jim Collins says in "Good to Great" no matter how short or long it took, every transformation to greatness had the same basic pattern accumulating momentum Turn by turn of the flywheel until the buildup transformed into breakthrough

7.5. 2000 Books Flywheel

7.5.1. At 2000 Books We identified 1 Key Performance Indicator to focus the whole business on ... not 10 KPIs That is the flywheel we focus on Simplified the business to a simple Flywheel Create and Sell Book Summaries to High Quality Organic leads And that gave us the momentum to rapidly grow the business A simple funnel Organic Leads And started to focus on the one thing that worked for us As the Business has grown I am doing fewer and fewer things as the CEO And letting go of all

7.5.2. In many ways The journey of creating momentum at 2000 Books over the last 5 years Has been the journey of cutting down It has been a journey of doing fewer things And doing them well In order to create massive momentum

7.6. PDF

7.6.1. Want the complete PDF summary of "Good To Great" Head over to

7.6.2. All the Links are in the description below

8. Discipline of People

8.1. Level 5 Leadership

8.1.1. The 5 Levels Level 5 - Executive Builds greatness through The Window and Mirror Level 4 - Effective Leader Enables pursuit of vision Stimulates higher performance among others Level 3 - Competent Manager Level 2 - Contributing Team Member Level 1 - Highly Capable Individual

8.2. 1st Who then What

8.2.1. first get the right people on the bus and wrong people off the bus before figuring out the destination this idea might be the closest link between a great company and a great life because if you spend a vast majority of your time with great people you will almost certainly have a great life whether someone is the right person has more to do with Character

8.2.2. Level 5+ Mgmt Team Level 5 Leader -> First Who -> then what

8.2.3. L4 - Genius with 1000 helpers Level 4 Leader -> first what -> then Who

8.3. Be very very rigorous in your people decisions

8.3.1. people are not your most important asset. The right people are

8.3.2. When in doubt don't hire. Keep Looking

8.3.3. When you know you need to make a personnel change, ACT

8.4. Best people on Biggest opportunities

8.4.1. managing your problems can only make you good, whereas building on your opportunities is the only way to become great

8.4.2. If you are going to sell off your problems, don't sell your best people with it

8.5. At 2000 Books

8.5.1. Greatest Progress I made in business As a result of having a powerful team

8.5.2. When my team was shaky and inconsistent My business was shaky and inconsistent

8.5.3. Having the right people on the bus Has made all the difference

9. Discipline of Thought

9.1. the Stockdale Paradox

9.1.1. POW Adm. Jim Stockdale in Vietnam Survived Prisons of Vietnam as POW Wrote the book: "Courage under Fire" He noticed that there were 2 kinds of POWs who did not survive the prisons for long Those who wore rosy glasses Those who were too pessismistic But the ones who survived Had faith that they would survive and be released AND They confronted the brutal reality of the prison as it existed

9.1.2. The Stockdale Paradox Have faith that you would prevail in the end regardless of the difficulties AND confront the most brutal facts of your current reality whatever they are

9.1.3. Entrepreneurs Great Entrepreneurs Believe that you will make your business work No matter how difficult the conditions might be Understand that it will be HARD.... very very hard Failing entrepreneurs Either their idea is a giant success Either completely Or it was a failure and can't be salvaged They don't want to persevere They don't want to go through a lot of hardships

9.1.4. 2000 Books I expected the business to be easier than what it has been I wish I had known that it was going to be 10x harder than what I thought it would be Applying the principles of Stockdale Paradox can be a journey of a lifetime Over time.... I realized that building the business is going to be much much harder than I thought it would be So I just persevered

9.2. Fox v/s Hedgehog

9.2.1. The Greek poet Archilochus wrote "the fox knows many things, but the hedgehog knows one big thing."

9.2.2. Fox v/s Hedgehog Fox tries to attack and kill the hedgehog in many different ways It will wait for it It will try to move fast It will try to move slowly But still the fox never gets the hedgehog Because the Hedgehog knows and does just one thing Curls itself up in a spiny ball That the fox can not penetrate The hedgehog always wins Because it does one thing really really well

9.2.3. 99% of entrepreneurs struggle with this chasing shiny objects Operating like the fox Hoping that the new shiny object is the answer Rather than working the fundamentals

9.2.4. Fox scattered and diffused on many levels because they see the world in all its complexity you know many things but lack consistency

9.2.5. Hedgehog they have a piercing insight that allows them to see through complexity and discern underlying patterns Simplify a complex world into a single organizing idea

9.2.6. Bruce Lee I fear not the man who has practiced 10,000 kicks once, but I fear the man who has practiced one kick 10,000 times

9.2.7. Example My Coaching Client Wanted to grow his Info Product Business Trying all sorts of strategies Feeling stuck and spinning around in circles I helped him simplify down to the one simple organizing idea 2000 Books 2000 Books in 2015-16 2000 Books in 2019-20

9.3. the 3 intersecting circles

9.3.1. If you are an early stage entrepreneur And you want to build a great business But you are not sure what kind of business to build

9.3.2. Or even if you have a business But it feels like A Drag Or a Struggle Or something you don't enjoy Or Something you can never win at

9.3.3. In order to build a great business You must know what kind of business to build

9.3.4. Jim Collins says that - If you want to build a great business, it has to be at the intersection of these 3 things Passion what you are deeply passionate about If you lack passion for a topic/business For example Best At What you CAN BE the best in the world at, not what you WANT to be the best at being the best in the world is much more difficult than just the core competence If you can't be the best at it For example 2000 Books Economic Engine You have to be able to see If you don't focus your business on things that can actually make money You have to understand - What drives your economic engine Now these KPIs may not become evident on Day 1 of your business Over time as you grow your business Example 2000 Books

9.3.5. So the key to building a great business is to Focus on the intersection of these 3 things What you are passionate about What you can be the BEST at What drives the economicengine

9.3.6. And if you are TRULY serious about building a great business I have something special for you I will be opening up enrollment for the Entrepreneurship Book Summary Pack on Jan 29 In that course If you want to get an insider discount on the course

10. Discipline of Action

10.1. Rinsing your cottage cheese

10.1.1. Champion Bicyclist Who would burn 3000 calories in his morning biking session But he would still rinse his cottage cheese of all the fat before eating it So that he could get the leanest protein And discard all the fat

10.1.2. having the discipline to do whatever it takes to become the best within that carefully selected arena as indicated by the 3 circles Understand that the smallest actions matter They all add up

10.2. Discipline to stay in the intersection of the three circles

10.2.1. a great company is much more likely to die of indigestion from too much opportunity than starvation from too little

10.2.2. The stop doing list determining which activities should be eliminated because they do not live within the three circles the stop doing list are more important than to do lists

11. Action Items

11.1. People

11.1.1. Get the right people on the bus _________________________

11.1.2. Get the wrong people OFF the bus _________________________

11.2. Thought

11.2.1. Becoming a Hedgehog What is that one simple, organizing principle in your business? _________________________

11.2.2. Is your business focused on the 3 intersecting circles Passion _________________________ Greatness _________________________ Economic Engine _________________________

11.3. Action

11.3.1. What is the 1 KPI you will focus on to make your Flywheel turn faster and faster? _________________________

11.4. Freebies

11.4.1. Get this Mindmap + PDF Summary

11.4.2. Coupon Entrepreneurship Book Summaries Pack -> 20% OFF Coupon

12. Get This Mindmap For Free

12.1. Here:

12.2. Why?

12.2.1. You will revisit these ideas again and again

12.2.2. I have been studying this "Good to Great" summary mind map for 6 years And still making breakthroughs and progress as a result of it

12.2.3. Every time I find Something different Something that I need to learn in that moment

12.3. Not only that

12.3.1. You can follow along with this video

12.3.2. And get a Visual Map of this book That you can click through Rather than the linear fashion of a book