In a truly great company profits and cash flow become like blood and water to a healthy body: They are absolutely essential for life but they are not the very point of life
JAMES C. COLLINSEverytime you think of it, the idea in your head seems to get more vivid, filled in with more detail:
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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People are not your most important asset….the right people are.
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The only acceptable goals are measurable,” but that’s actually an undisciplined statement. Lots of goals-beauty, quality, life change, love-are worthy but not quantifiable. But you do have to be able to tell if you’re making progress.
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Those who build great companies understand that the ultimate throttle on growth for any great company is not markets, or technology, or competition, or products. It is one thing above all others: the ability to get and keep enough of the right people.
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Not one of the good-to-great companies focused obsessively on growth.
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We must reject the idea… Well-intentioned, but dead wrong… That the primary path to greatness in the social sectors is to become “more like a business.” Most businesses… Like most of anything else in life… Fall somewhere between mediocre and good.
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To have a Welch-caliber C.E.O. is impressive.To have a century of Welch-Caliber C.E.O.’s all grown from the inside – well, that is one key reason why G.E. is a visionary company.
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The only mistakes you can learn from are the ones you survive.
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Mediocrity results first and foremost from management failure, not technological failure.
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You absolutely must have the discipline not to hire until you find the right people.
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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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A visionary company doesn’t simply balance between idealism and profitability: it seeks to be highly idealistic and highly profitable.
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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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Yet at the same time they display a remarkable humility about themselves, ascribing much of their own success to luck, discipline and preparation rather than personal genius.
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It’s what you do before you are in trouble, so that you can be strong when people most need you.
JAMES C. COLLINS