28 September 2018

passion, economic viability and skills - three circles

Jim Collins’ three circles sum up why having passion in your role is so important.

This is the single greatest business book I’ve ever read. Written by so-called management guru Jim Collins, Good to Great studies leading businesses over a five-year period. Suggestions and advice is backed up by research and evidence.

To me, what makes this book stand out is that it is filled with clear examples and actionable takeaways. Interpret the book however you like and you’ll still find something that will help improve your business.

Here are a few of the points that I’ve picked up and seen work in action over the years…

Hedgehog Principal

Whenever you embark on a new venture, you have to ask yourself three questions: Can I be the best in the world at this? Is it financially viable? Am I passionate about it? If you tick the boxes on all three of these, you’re in with a chance of making your business a real success.

Known as the hedgehog principle, or the three circles, this should be the very first thing you do when considering starting a business. You may be able to make a huge amount of money and be really good at it, but if you’re not passionate about it, when the going gets tough, you’ll inevitably invest your energy into something you enjoy. You may be incredibly passionate about it and incredibly good at it, but if it isn’t going to make you any money, it’s not a viable option.

The Bus

Imagine your business is a bus. Every new team member takes a seat on it. When you hire new people, the most important part is getting the right people on the bus. You may meet an extraordinary character in an interview but they’re not quite right for the role they’ve applied for. It doesn’t matter, get them on the bus! You’ll inevitably find that if they really are a great person, they’ll quickly find their seat on the bus and thrive within your business.

You can teach skills whereas attitude is ingrained.

Core Values

What does your business believe in? What does it stand for? Why do you do what you do? Our five core values dictate every single thing that we do here at UKFast. From recruitment through to decision-making, these five values are woven into every thread of the business.

When you establish your core values, you have a framework to ensure that you’re always adding to your culture rather than diluting it.

Level 5 Leaders

What makes an incredible leader? According to Jim Collins, the quality that makes incredible leaders stand out is simple: humility. Level 5 leaders drive companies from good to great with a ‘powerful mix of personal humility and indomitable will’.

It’s a great read if you’re looking to take your business to the next level. Let me know your thoughts in the comments below.

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