An immensely popular business book with over 70,000 ratings on Goodreads. What makes this book so great? Following last week’s review on what makes ideas great, this time I was interested in seeing if there were any similarities between great ideas and great companies.
Using the SUCCESS model explained last week, Jim Collins in this week’s book uses simple (they’re really nothing too groundbreaking), concrete (using examples from the companies themselves), credible (using empirical data from his research among over 80 companies) stories (also using examples from the companies themselves) with some unexpected facts (for example, a CEO of a “great” company being humble instead of having the stereotypical ego) to convince us that these specific traits will make any company great.
The SUCCESS model works. Let’s see how that applies to making riches.
Verdict: Content is well worth the read. Heavily researched, but with an arbitrary methodology. Explanations feel verbose.
Jim Collins provides a concrete five-year study of multiple companies who have sustained a stock market value of a given percentage (150%) above the average market. From there, he reverse engineers the remaining companies by discovering commonalities among their practices, given the empirical data he had discovered.