Built to Last is a business book written by Jim Collins and Jerry I. Porras that has inspired leaders and organizations around the world. Based on a six-year research project that studied the long-term success of 18 companies, the book identifies a set of characteristics that it calls “visionary companies.” These are companies that have a strong sense of purpose, core values, and a long-term view of success.
So, how can modern business leaders apply the ideas in Built to Last to their own businesses and achieve long-term success? Here are some specific steps that you can take:
- Define your company’s purpose and core values:
- Take some time to think about why your company exists and what it stands for.
- Identify a few core values that reflect your company’s beliefs and guiding principles.
- Use your purpose and core values as a guide for decision-making and as a way to inspire and motivate your employees.
- Be a visionary leader:
- Develop a clear vision for your company’s future.
- Communicate your vision effectively to your team and encourage collaboration and teamwork.
- Model the behavior that you want to see in your employees, such as being open to new ideas and being willing to take calculated risks.
- Create a positive culture:
- Establish clear values and expectations for employee behavior and communication.
- Model the behavior that you want to see in your employees.
- Foster an environment that is open to new ideas and encourages creativity and risk-taking.
- Embrace change:
- Be proactive in your approach to change and don’t resist it.
- Regularly review and update your company’s values and purpose to ensure that they are still relevant and aligned with your goals.
- Encourage your team to embrace change and be open to new ideas and ways of doing things.
- Foster innovation:
- Encourage creativity and risk-taking by fostering a culture that values these qualities.
- Establish systems to manage and support innovation, such as encouraging employees to share ideas and providing resources for experimentation.
- Stay up to date with industry trends and be willing to adapt and pivot as needed.
- Promote teamwork and collaboration:
- Encourage open communication and transparency among your team.
- Encourage employees to work together towards a common goal.
- Valuing the contributions of all team members and fostering a sense of teamwork can help to improve morale and boost productivity.
- Focus on execution:
- Set clear goals and objectives for your company.
- Establish systems to track progress towards those goals.
- Hold yourself and your team accountable for results and be willing to make course corrections as needed.
By implementing these ideas, you can set your company up for long-term success and create a positive and enduring impact in your industry. Remember, building a successful and enduring company takes time and requires a consistent focus on these key areas. But with the right mindset and approach, you can create a company that is built to last.
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Lee Nallalingham 