First who, then what
Before setting a vision, get the right people on the bus. Great strategy with wrong people fails—every time.
Confront brutal facts, but never lose faith
The Stockdale Paradox: combine realism about challenges with unshakable belief in eventual success.
Build flywheels, not revolutions
Sustainable success isn’t flashy—it’s a series of disciplined actions that compound into unstoppable momentum.
The Hedgehog Concept
In 'Good to Great', Collins introduces the 'Hedgehog Concept', which is a framework that great companies use to stay focused on what they can be the best at, what drives their economic engine, and what they are deeply passionate about. The idea is derived from the parable of the hedgehog and the fox, where the hedgehog knows 'one big thing' and sticks to it, while the fox knows many things but lacks focus. Successful companies, according to Collins, resemble the hedgehog, concentrating their efforts on a singular, clear strategy that aligns with their strengths, passion, and economic potential. This concept encourages businesses to simplify their approach and focus intensely on their core competencies to achieve greatness.
Level 5 Leadership
A standout insight from Collins’ research is the critical role of Level 5 Leadership in transforming good companies into great ones. Level 5 Leaders are characterized by a unique blend of personal humility and professional will. They are often understated and modest, yet possess a fierce determination to do what is best for the company. Rather than seeking personal fame or credit, they focus on building enduring greatness for their organizations. These leaders empower others, set up successors for success, and attribute success to their teams rather than themselves. This leadership style fosters a culture of excellence and is a key differentiator in sustaining long-term success.
First Who, Then What
Collins emphasizes the importance of 'First Who, Then What', illustrating that the first step for companies striving to become great is to get the right people 'on the bus' and the wrong people 'off the bus'. This means prioritizing the recruitment of the right talent before deciding on the strategic direction of the company. By focusing on who is involved before determining what to do, companies ensure that they have a team that is adaptable and capable of finding the best path forward, regardless of the challenges they face. This approach underscores the belief that the right people are the most valuable asset and are crucial for navigating change and driving sustained success.