Entrepreneurship Archives

BHAG: Examples, Steps, and Tips for Success

What are some BHAG examples? How have visionary leaders succeeded by committing to these goals? Researchers Jim Collins and Jerry I. Porras found that visionary companies set and achieve Big Hairy Audacious Goals (BHAGs). They share three steps to creating your own BHAGs and four ways to make sure they succeed. They also provide several BHAG examples for instruction and inspiration. Keep reading to see several BHAG examples and to learn how to implement your own.

Corporate Growth Strategy: Stay True to Your Core

How can your company grow while remaining true to itself? What’s a corporate growth strategy that allows your company to progress without changing its values and purpose? Visionary companies grow while staying true to what they’re all about. They have a corporate growth strategy that preserves the core while stimulating progress. You, too, can achieve this when you believe in the power of “and”—and when you understand the difference between your core company philosophy and your non-core company practices. Keep reading to learn more about this corporate growth strategy.

The Key to Success? Your Company Philosophy

Does your business have a company philosophy? What difference does it make? Visionary companies are guided by their company philosophy. More than mere words, this blend of their core values and their purpose keeps them focused as it drives them forward. If you want to build a business that lasts, your business needs a core philosophy. Read more to learn the importance of a company philosophy and how to establish one for your business.

Product-Focus: The 3 Ways It Stymies Success

What’s wrong with product-focus in business? If the product isn’t the point, what is? One of the myths about visionary companies is that they require one great idea—a specific product or service—to get started. In reality, visionary companies don’t take the product-focus approach. Instead, they concentrate on building a great company. Continue reading to learn why product-focus generally doesn’t lead to greatness.

A Visionary Company: What It Is and What It Isn’t

The 3 Common Characteristics of a Good Business

What qualifies as a visionary company? What are the truths and myths about companies that endure? In Built to Last, bestselling author Jim Collins and Stanford professor Jerry I. Porras embarked on a six-year research project to 1) identify the characteristics that distinguished the very best companies, and 2) use these insights to create a framework for those who want to build a visionary company of their own. To this end, the authors identified and analyzed 18 visionary companies that performed exceptionally well over a long period of time. Read more to learn about the qualities of a visionary company.

How to Keep Your Business Afloat: Be Non-Complacent

In an ever-changing and fast moving world, how can you keep your organization alive? Is it bad for your company to always be changing? In their fable about leading change, John Kotter and Holger Rathgeber talk about the importance of being non-complacent. The authors stress that leading one successful change doesn’t mean that your organization is safe—you need to be sure that your changes stick and that you’re ready to change again if need be. Continue reading to learn what John Kotter and Holger Rathgeber had to say about being non-complacent in their fable Our Iceberg Is Melting.

Why Successful Teams Require Givers

What does it take to create a successful team? In what ways do givers make a team more successful? How can takers sabotage team’s performance? Givers—as opposed to takers and matchers—increase the success of the whole team because they focus on the goals of the group rather than on themselves. Their giving tendencies also tend to rub off onto other members of the team, so the more givers there are, the better the team will perform as a whole. Keep reading to learn why successful teams require givers.

The 3 Simple Steps to Building a Strong Brand

What does building a strong brand entail? Why do you need a strong brand to succeed in your target market? Building a strong brand involves grouping together products that share the same inherent capabilities under one brand, and developing competitive advantages that help that brand stand out in the marketplace. You need a strong brand if you want to distinguish yourself from your competitors. Read on to fully discover the process of building a strong brand.

How to Create Your Company’s Winning Aspiration

What is a company’s winning aspiration? Why must a company play to win? A winning aspiration is a statement of what success in the marketplace will look like to a company. Companies must always play to win because it is very difficult to win if you are only trying to compete. Companies that simply try to compete are at risk of being driven out by more aggressive competitors. Read more about the meaning and importance of having a winning aspiration for your company.

A Cooperative Business Model for Companies

What is the cooperative business model? How does it help build a better workplace for employees? A cooperative business model is a democratic company where the enterprise is collectively owned by all the employees. Employees elect leaders, and share profits and liabilities as a group. The model creates a better workplace because the opinion of everyone counts, which makes employees happier and more engaged. Read more about how the cooperative business model works.