Good to great overview Part 1

[Sean Carroll]

Book overview: Good to Great by Jim Collins.

The author considers it the prequel to his other book "Built to last". In a nutshell, the book is about building a good company to a great company. One that performs better than any other comparison company. It is the characteristics that a company has during a transition period from good to great. It is a book based on research that he and his team performed to let only data speak and not their personal views.

So in the first three chapters, some big things stuck out to me.

1. Level 5 leadership - The level 5 leader builds enduring greatness through paradoxical personal humility and professional will. Basically, a true level 5 leader will do whatever it takes to set up the company and other around him up for success. By doing so he sets him or her self up for success.

2. Good to great companies began the transformation by getting the right people on the bus and getting rid of the wrong people. Basically, it is about having the right people not just people on your team.

3. "Who" always comes before "what"- it does not matter where you are going if you do not have the right people to get you there.

4. Three practical disciplines for being rigorous in people decisions

- when in doubt don't hire, keep looking

- When you know you need to make people change, act. Don't wait or give a third chance

- put your best people on your biggest opportunities.

5. The right people are your most important asset

6. The right person has to do more with character traits and innate capabilities than with specific knowledge, background or skill. Basically, you can teach anyone to do a decent job, but it takes someone with good character traits and innate capabilities to go above and beyond to help you and the company thrive.

What do you think is helping your real estate investing business or maybe another business you have to grow and make the transition from Good To Great?