Tweet

Good to be Great

Written by: Geoff Flemming

Article Overview: It seems like the market has shifted in a positive direction people in business have energy about moving forward. The media have also maintained their consistent 'doom and gloom' outlook, but now it relates to concerns about increasing interest rates! So it must be a good time to grow! Having said that there are a number of lessons to be learnt from recent times in what works and causes sustainability - and what will likely not last.

Good to be Great

Bo Burlingham, an editor of Inc. magazine wrote a book called "Small Giants - Companies that chose to be Great Instead of Big". The interesting aspect is that these companies that Bo refers to in his book chose to build and stay at an optimum size that suited them and the market they are in.

Simply put, these owners and leaders chose to be great instead of big! Whilst some of these companies are small , most are hugely profitable and are great places to work.

There are a number of interesting similarities between these companies:

1. The founders recognise the range of choices available - In most cases they rejected the standard options. They innovated new possibilities and resisted forces that would have them comply with popular beliefs. In every case they carefully chose their market and how many, and what type of customers to take on.

2. They overcame pressure to take the normal growth path - Rather than growth just for the sake of it, they decided to control growth every step of the way. They often rejected investors and 'money partners'. Most importantly they worked to build the type of community they want to live in, but inside their own companies.

3. They cultivate exceptional business relationships - Like Jay Abraham's concept of 'Pre-eminence', these leaders developed partnerships with employees, customers and suppliers. By working together in a type of committed partnership, they create a sense of community and common purpose among the entire supply chain. Whilst difficult to do, they achieve a genuine mutual concern for each other's success.

4. They create intimate workplaces - Simply put, they treat employees as human beings and address their needs. In return they earn loyalty and superior performance. Herb Kelleher of Southwest Airlines calls this "employees who feel cared for in the totality of their lives" - treating people with respect, dignity, kindness, and generosity. They have a better life for having been part of this company.

5. They implement a new age corporate structure - They develop innovative management systems as well as educational programs that teach 'the company way'. They teach about service as well as leadership. They choose to reject archaic 'Command and Control' management processes in favour of more innovative, 21st century methods.

6. The leaders keep a passion for their business - They have a passion for their products and what they do in the market. They are not so much professional managers, but more so they create and maintain deep emotional attachments to their business, and especially to their people - the employees, customers and suppliers.

These companies have no special products or services, nor were they necessarily founded in a boom time. The owners / founders are not really gifted nor have specialised education or knowledge.

They did however two things really well

• Develop and nurture their greatest asset being their people.
• They defined and executed strategy that caused them to move forward in a controlled way that maximised profitability

Extraordinary organisations achieve sustainable growth and success. So now is a good time to choose to be great!

Related Articles
  Get Clear On What Your Business Needs Most
  How to create a great website
  Create a Great Website and Profit Online from Home
  Are You a Great Manager?
  Closing with Passion

Article Tags: Business Coaching, Crucial Conversations, high performance teams, leadership training, motivation



Related Forum Posts
Re: Moderators on vacation - Great to have you back GT! Good luck with your projects!
Re: How do you monitor what people say about you in the web? - Great question! I use Google news alerts for my name and website name. I also monitor in Twitter whenever my name or website is mentioned. I just got back from SES Toronto and multiple people said to check out SocialMention.com - it never seems to work for me but you can try it out. Good luck!
Re: How can I start home-based business? - Great suggestions everyone. Firstly you must document what skills, experience and interests you have. Then you can find opportunities for applying them to a business, You can work from home, or virtually anywhere these days with a internet connection. I would recommend taking everyone up on their offers of information, really studying it and then trying something. Good luck J
Re: Ridiculous Ideas That Made Millions - [quote="terrycan":3q02xsln]Dear GT Bulmer, Great post and a super article. Good advice on investing especially "Stick to your strengths" Invest in a business you understand. For example a lumber jack would see a good tree cutting tool. He wouldn't understand the next fashion trend in women's high heel shoes. For our inventors invent in a business you understand. If you see a need. You may see an invention.[/quote:3q02xsln] Great advice here Terrycan. I agree that it is more likely that you will see a need in a business you know and understand than in something that is totally foreign to you. It is when you are working in certain areas or certain types of businesses that your imagination is going to find inventions for ways to do things better. MichelleJ
Favourite Business Books - The November PROFIT magazine looks at the favourite business books of Canada's most successful entrepreneurs. The top 4 are: 1) Good to Great by Jim Collins 2) The E-Myth by Michael Gerber 3) Blue Ocean Strategy by W. Chan Kim and Renee Mauborgne 4) How to Win Friends and Influence People by Dale Carnegie


Share this article with your friends. Fund someone's dream.

Leave a comment below or share on the left and you'll help support entrepreneurs in Africa through our partnership with Kiva. Over $50,000 raised and counting - Please keep sharing! Learn more.

Tweet

Newsletter

Get advice & tips from famous business
owners, new articles by entrepreneur
experts, my latest website updates, &
special sneak peaks at what's to come!

Name:
Email:

Popular Articles

Why SEO is important for your online success

Fear Factors in Small Business: Sales & Marketing

Unspoken Yet Important Rules for Book Proposals

Suggestions

Email us your ideas on how to make our
website more valuable! Thank you Sharon
from Toronto Salsa Lessons / Classes for
your suggestions to make the newsletter
look like the website and profile younger
entrepreneurs like Jennifer Lopez.