Not every financial company toppled during the 2008 crisis, and some seized the opportunity to take advantage of weaker competitors in the midst of the tumult.
JAMES C. COLLINSYou must maintain unwavering faith that you can and will prevail in the end, regardless of the difficulties, AND at the same time, have the discipline to confront the most brutal facts of your current reality, whatever they might be.
More James C. Collins Quotes
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Not all time in life is equal. How many opportunities do you get to talk about what your life is going to add up to with people thinking about the same question?
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Level 5 leaders are differentiated from other levels of leaders in that they have a wonderful blend of personal humility combined with extraordinary professional will.
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There is a sense of exhilaration that comes from facing head-on the hard truths and saying, “We will never give up. We will never capitulate. It might take a long time, but we will find a way to prevail.”
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Genius of AND. Embrace both extremes on a number of dimensions at the same time. Instead of choosing a OR B, figure out how to have A AND B-purpose AND profit, continuity AND change, freedom AND responsibility, etc.
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The main point is first get the right people on the bus (and wrong people off the bus) before you figure out where to drive it. The second key point is the degree of sheer rigor in people decisions in order to take a company from Good to Great.
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An organization is not truly great, if it cannot be great without you.
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The only way to make any company visionary is through a long-term commitment to an eternal process of building the organization to preserve the core and stimulate progress.
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We are not imprisoned by circumstances, setbacks, mistakes or staggering defeats, we are freed by our choices.
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A great company will have many once-in-a-liftetime opportunities.
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The purpose of bureaucracy is to compensate for incompetence and lack of discipline.
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A visionary company doesn’t simply balance between preserving a tightly held core ideology and stimulating vigorous change and movement; it does both to an extreme.
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Significant decisions carry risks and inevitably some will oppose it. In these settings, the great legislative leader must be artful in handling uncomfortable decisions, and this requires rigor.
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Everytime you think of it, the idea in your head seems to get more vivid, filled in with more detail:
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First figure out your partners, then figure out what ideas to pursue. The most important thing isn’t the market you target, the product you develop or the financing, but the founding team.
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It occurs to me,Jim,that you spend too much time trying to be interesting. Why don’t you invest more time being interested?” Collin’s advice from John Gardner that he took to heart.
JAMES C. COLLINS