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Great By Choice
Insights and Learning's from Great By Choice
Presented by
Doug OKeefe
Director of Delivery Excellence
dokeefe@crownpartners.com
615.516.9955
Source
Great by Choice:Uncertainty, Chaos, and Luck - Why Some Thrive Despite Them
All
Jim Collins,Morten T. Hansen
Great By Choice
The Author
Other books
Good to Great
Built to Last
How the Mighty Fall
Great By Choice
Beyond Entrepreneurship
Operates a management
laboratory in Boulder CO
Agenda
Great By Choice
They CREATE
They PREVAIL
They THRIVE
They CREATE
They PREVAIL
They THRIVE
They CREATE
They PREVAIL
They THRIVE
They CREATE
They PREVAIL
They THRIVE
Team 2:
Robert Falcon Scott (Leader)
Amundsen
Preparation is a MUST
Dont wait until you are there to figure out what to do
Prepare for everything with intensity
10
Amundsen
Preparation is a MUST
Dont wait until you are there to figure out what to do
Prepare for everything with intensity
Scott
A good plan but not a systematic plan
Had a goal (the South Pole) and a plan to get there
Ran everything dangerously close to his calculations
11
Is It Luck?
Great By Choice
12
Different Behaviors
Great By Choice
Different BEHAVIORS
13
10Xers
Great By Choice
Theyre not
More creative
More visionary
More charismatic
More ambitious
More lucky
More risk-seeking
More heroic
More prone to
making big, bold
moves
14
10Xers
Great By Choice
They
Have Fanatic
Discipline
Show Empirical
Creativity
Live In Productive
Paranoia
Fanatic
Discipline
Level 5
Ambition
Productive
Paranoia
Empirical
Creativity
15
10X Companies
Companies That Outperform Their Industry Index By 10X
20,400
companies
11 criteria layers
Left with 7
Outperform
comparison
companies
30:1
10X
Case
Value of 10K
Invested
Market
Industry
Comparison
Company
Amgen
$4.5MM
24X
77X
Genentech
Biomet
$3.4MM
18X
11X
Kirschner
Intel
$3.9MM
21X
46X
AMD
Microsoft
$10.6MM
56X
119X
Apple
Progressive
$2.7MM
15X
11X
Safeco
Southwest
$12.0MM
63X
550X
PSA
Stryker
$5.3MM
28X
11X
USSC
16
Fanatic Discipline
Progressive Insurance
WHY?
17
Fanatic Discipline
Progressive Insurance
FANATIC DISCIPLINE
Consistency of action
With values
With long-term goals
With performance standards
Over time
18
Empirical Creativity
Intel
WHY?
19
Empirical Creativity
Intel
EMPIRICAL CREATIVITY
20
Productive Paranoia
Microsoft
WHY?
21
Productive Paranoia
Microsoft
PRODUCTIVE PARANOIA
22
Level 5 Ambition
Biomet
WHY?
23
Level 5 Ambition
Biomet
LEVEL 5 AMBITION
24
10Xers
Great By Choice
They
Have Fanatic
Discipline
Show Empirical
Creativity
Live In Productive
Paranoia
Fanatic
Discipline
Level 5
Ambition
Productive
Paranoia
Empirical
Creativity
25
20 Mile March
Great By Choice
20 miles a day
regardless
26
20 Mile March
Great By Choice
Versus USSC
Stryker grew more
slowly more than half
the time
Then a series of
storms
By 1998, USSC was
acquired by Tyco
27
20 Mile March
Great By Choice
Southwest Airlines 20
Mile March Company
Demanded a profit
EVERY year
Maintain the culture
Dont expand TOO
much in any year
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20 Mile March
Great By Choice
20 Mile March
Great By Choice
Elements of a Good 20
Mile March Company
Performance markers
Self-imposed constraints
Tailored to the enterprise
Lies largely within our control
Goldilocks timeframe
Designed and self-imposed
Achieved with great consistency
Why it works
1. Builds confidence in
ability to perform well in
adversity
2. Reduces the impact of
catastrophe
3. Helps exert self-control in
an out of control
environment
30
20 Mile March
Great By Choice
31
32
Empirical tests
Low Distraction
33
Firing Bullets
Fire bullets
Assess: Did they hit anything?
Consider: Do any bullets merit a
cannonball?
Convert: Calibrate and fire a
cannonball
34
Apple Rebirth
Bullet: going back to what they did best personal computers
Bullet -> Cannonball: the Apple Store (rolled out slowly)
Bullet: Hire Tim Cook (supply chain expert) to put discipline
into manufacturing
Bullet: iPods that connected to the Mac (iTunes)
35
SMaC
Great By Choice
SMaC
Specific
Methodical
and
Consistent
36
SMaC
Southwest Airlines
37
SMaC
Southwest Airlines
Specific
2 hour segments
737s
10 minute turns
No air freight or mail
No food service
No seat selection
Methodical
Based on empirical evidence on what works
Consistent
This list changed only 20% in 25 years!
38
SMaC
Great By Choice
SMaC
SMaC isnt a strategy, culture,
set of core values, purposes, or
tactics
39
SMaC
Great By Choice
WHY?
SMaC
Productive paranoia
Empirical creativity
41
Bill Gates
Upper middle class family that sent him to private school
Born at the right time electronics advancements being made
Teamed with Paul Allen to develop BASIC into a product for a
PC
Went to Harvard where they had a PDP-10 he could work on
LUCKY GUY, HUH?
42
Bill Gates
Was he the only person that grew up in an upper middle class
family?
Was he the only person born in the 1950s that went to a
private school with computing access?
Was he the only person who went to a college (or to Harvard)
with computing resources?
Was he the only person that knew how to program in BASIC?
No
No
No
No
43
Bill Gates
The difference IS NOT LUCK
44
Return on LUCK
(ROL)
Grea
t
Defining Moments in
10X Journey
A Sure Path To
Mediocrity
Poor
Bad
Good
------------------- LUCK ------------------
45
Conclusion
Great By Choice
46
Thank You
And purchase Jim Collins Book
Presented by
Doug OKeefe
fdokeefe@crownpartners.com
615.516.9955
47