“The environment doesn’t determine why some companies thrive in chaos and why others don’t. People do.”
Who luck (the luck of finding the right mentor, partner, teammate, leader, friend) is one of the most important types of luck.
The real difference between the 10X and comparison cases was ROL (Return on Luck).
MORE IDEAS FROM Great by Choice
During times of uncertainty, look at the empirical evidence, not to other people; rely on direct observation and practical experimentation and build a deeper empirical foundation for decisions and actions.
Don't let discipline inhibit creativity or creativity to erode discipline.
Best leaders (10X) do not predict the future
The key qualities are -
10X winners always assume that conditions can change, violently and fast.
1. Extra oxygen canisters (big margins of safety in cash reserves)
2. Bounding risk
3. Zoom out, then zoom in
“If you want to achieve consistent performance, you need both parts of a 20 Mile March: a lower bound and an upper bound, a hurdle that you jump over and a ceiling that you will not rise above, the ambition to achieve and the self-control to hold back. ”
Shows regularity of action; rejects pressure to conform in ways incompatible with values, performance standards, and long-term aspirations
He was consistent. He didn’t march 40 miles on good days, nor zero on bad days.
10Xers make incremental progress year after year by consistently hitting specified performance markers.
Try to channel the ego and intensity into something larger and more enduring than yourself - focus on your cause, your company, your work; Choose goals by impact, contribution, and purpose if you want to attract others to help.
"When you marry operating excellence with innovation, you multiply the value of your creativity."
"Go slow when you can, fast when you must."
Create and use a SMaC recipe to execute your strategy: Specific, Methodical, and Consistent.
"Freely chosen, discipline is absolute freedom."
Level 5 leaders channel their ego needs away from themselves and into the larger goal of building a great company. It’s not that Level 5 leaders have no ego or self-interest. Indeed, they are incredibly ambitious— but their ambition is first and foremost for the institution, not themselves.
Level 5 leadership is not just about humility and modesty. It is equally about ferocious resolve, an almost stoic determination to do whatever needs to be done to make the company great.
It explains how you can get the most out of the fact that 45% of your behavior happens on autopilot by setting ridiculously small goals, relying on willpower instead of motivation and tracking your progress to live a life that’s full of good mini habits.
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