The inner experience of fallure is totally different than failure. Going to fallure means 100% commitment – you leave nothing in reserve, no mental or physical resource untapped, you never give yourself a psychological out.
JAMES C. COLLINSLevel 5 leaders are fanatically driven, infected with an incurable need to produce sustained results. They are resolved to do whatever it takes to make the company great, no matter how big or hard the decisions.
More James C. Collins Quotes
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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.
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Creativity dies in an indisciplined environment.
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The secret to a successful retirement is to find your retirement sweet spot. The sweet spot is where your passions, what you do best, and what people will pay you to do overlap.
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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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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
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Our findings do not represent a quick fix, or the next fashion statement in a long string of management fads, or the next buzzword of the day, or a new ‘program’ to introduce. No!
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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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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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In a world of constant change, the fundamentals are more important than ever.
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Get involved in something that you care so much about that you want to make it the greatest it can possibly be, not because of what you will get, but just because it can be done.
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The challenge is not just to build a company that can endure; but to build one that is worthy of enduring.
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Great companies foster a productive tension between continuity and change.
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Discipline is consistency of action.
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We are not imprisoned by circumstances, setbacks, mistakes or staggering defeats, we are freed by our choices.
JAMES C. COLLINS