206: Talking Tuesday | Great By Choice a Book Summary

Book SummaryIn this episode we’re discussing Great By Choice: Uncertainty, Chaos, and Luck– Why Some Thrive Despite Them All. The premise of this book revolves around one simple questions: Why do some companies thrive in uncertainty, even chaos, and others do not? 

Authors, Jim Collins and Morten T. Hansen, call the thriving companies “10xers” or companies that out perform their comparison companies by a factor of at least 10 times.

Show Notes

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Their research discovered that 10xers share the following 4 Behaviors:

  1. Fanaticle Discipline
  2. Empirical Creativity
  3. Productive Paranoia
  4. Level 5 Ambition

In addition to having these behaviors that exercise the following habits:

  • 20 Miles Marching
  • Fire Bullets, Then Cannonballs
  • Lead Above The Death Line
  • Use SMaC Recipes

Return on Luck

People create high returns on luck. Both the 10xers and comparison companies got their fair share of both good and bad luck. The difference what the 10xers did with their luck. 10xers do more and make the most of their good luck. 10xers recognize good luck and capture it. “The best way to find a strong current of good luck is to swim with great people and to build deep enduring relationships with people whom you’d risk your life and people who’d risk their life for you.”

Resources Mentioned

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