“Beyond Entrepreneurship 2.0” is a revised and updated version of his earlier book “Beyond Entrepreneurship.” The book provides guidance and insights for entrepreneurs and business leaders on how to build and sustain a successful company over the long term. It covers a range of topics such as leadership, strategy, execution, culture, and innovation and draws on Collins’ extensive experience working with companies of all sizes and industries.
Embrace the “Genius of the AND”
The “Genius of the AND” is the ability to hold two seemingly contradictory ideas in your mind at the same time and find a way to make them both work. This is a key trait of successful companies, who are able to balance short-term and long-term thinking, profit and purpose, and stability and growth.
Embrace the “Genius of the AND” in strategy
When developing a strategy, it’s important to embrace the “Genius of the AND” and find a way to balance seemingly opposing ideas, such as short-term and long-term thinking, risk-taking and caution, and innovation and efficiency.
Build a “return on luck” mindset
Luck plays a role in the success of any company, but it’s what you do with that luck that matters. Successful companies have a “return on luck” mindset, which means they are able to capitalize on unexpected opportunities and turn them into long-term gains.
Be a “clock builder” rather than a “time teller”
As a leader, it’s important to focus on building systems and processes that will ensure the long-term success of the company, rather than just solving short-term problems. This means creating a culture of continuous improvement and innovation and empowering employees to take ownership of their work.
Create a “10X” culture
A “10X” culture is one that sets audacious goals and is constantly striving to improve by ten times, rather than just incrementally. This type of culture encourages innovation and growth, and pushes employees to think outside the box.
Build a “red flag” culture
A “red flag” culture is one that encourages employees to speak up when they see something that doesn’t seem right, rather than just ignoring it or hoping someone else will address it. This type of culture promotes transparency and accountability and can help prevent small issues from turning into big problems.
Develop a “talent machine”
Building a great team is essential to the success of any company, and a “talent machine” is a system for identifying, developing, and retaining top talent. This includes investing in employee development, creating a culture of continuous learning, and providing opportunities for growth and advancement.
Focus on “first who” before “first what”
When building a team, it’s more important to focus on finding the right people first, rather than determining what they will do. A great team can adapt and tackle any challenge, while a mediocre team will struggle even with the best strategy in place.
Create a “flywheel” for growth
A “flywheel” is a self-reinforcing loop that drives growth and success. By identifying the key drivers of your business and continuously improving upon them, you can create a flywheel that generates momentum and leads to sustained success.
