As small business owners and professionals, we often ask ourselves, “What does it take to elevate my company from good to truly great?” Inspired by Jim Collins’ Good to Great, and with insights from our guest speaker, Craig Cooke, founder of C Squared Professional Consulting, this post explores actionable steps to achieve lasting success.
Craig shared his experience of building and eventually selling a digital-first business that he started with just $1,300 and a computer. He emphasized the importance of resilience, adaptability, and the discipline needed to succeed. These insights align closely with Good to Great principles, offering a roadmap to help you turn your business into a standout success.
So what does it take to get from good to great?
1. Embrace Level 5 Leadership: The Power of Humility and Determination
Level 5 leaders are both humble and fiercely committed to the company’s success. They avoid the spotlight and focus on building something that outlasts them. Craig noted, “If you’re not humble, eventually you get humbled.” He explained that in his journey, humility, paired with the courage to make hard choices, was crucial for long-term success.
I encourage you to achieve this level of self-awareness by practicing reflection techniques and staying open to feedback. Use personal development techniques, like regular self-assessment and goal setting, to keep your ego in check. My Overcoming Discouragement Worksheet can help you start gaining some self-awareness and tackling negative thoughts as well as limiting beliefs that stop you from achieving your goals.
2. Get the Right People on the Bus: Hiring and Cultivating Talent
Collins highlights the importance of getting the “right people on the bus” before deciding on the company’s direction. Craig mentioned the need to find candidates who fit your company culture from the beginning. One technique he used was simply asking candidates, “Are you a positive person?” to ensure alignment with his team’s values.
During your hiring process, look for cultural fit as much as technical skills. As Craig suggested, evaluate employees regularly and, if necessary, guide them into roles that better suit their strengths. Regularly assess your team’s performance and align their roles with their talents to maximize productivity and satisfaction.
3. Confront the Brutal Facts: Don’t Shy Away from Tough Realities
The best leaders don’t avoid the hard truths. As Craig shared, when his company faced technological shifts, he didn’t cling to old models; instead, he adapted quickly, abandoning outdated processes and products. The alternative, as illustrated in Good to Great, can lead to a Blackberry-type situation; failing to pivot in time to avoid becoming obsolete.
Implement regular data collection and analysis to get a clear view of where your company stands. Look at financial trends, product performance, and customer feedback weekly or monthly. Consider adopting a “SCOT” analysis (Strengths, Challenges, Opportunities, and Threats), to maintain an up-to-date view of both internal and external factors.
4. Apply the Hedgehog Concept: Focus on What You Can Be the Best At
Collins’ Hedgehog Concept advises companies to focus on what they can excel at, what drives their economic engine, and what they are passionate about.
Identify your “Hedgehog Concept” by asking these three questions:
- What can you be the best at?
- What drives your economic engine?
- What are you passionate about?
With these answers, you can make decisions that align with your strengths, allowing you to grow sustainably and have built in resilience.
5. Build a Culture of Discipline: Create Consistency in Your Approach
Great companies have a culture of discipline where people take consistent, purposeful actions toward the company’s goals. Good to Great stresses the need for disciplined people who don’t require strict management because they are already aligned with the company’s vision.
Develop a rhythm for data analysis and reflection on goals, using tools like my Goal Worksheet to clarify and break down your objectives. Set up weekly, monthly, and quarterly reviews to track progress, identify opportunities, and make necessary adjustments.
Now you’re ready to your business from “Good to Great”
Moving from good to great is not about quick fixes but about creating a clear direction, building a strong team, and committing to disciplined growth. Adopting a growth-oriented mindset will set you on a path to long-term success.
By following these steps and utilizing tools like the Goal Worksheet, you can begin to build the foundation for a company that not only achieves greatness but sustains it.
