Firing bullets and then firing cannonballs

Firing bullets and then firing cannonballs

Released Tuesday, 24th September 2024
Good episode? Give it some love!
Firing bullets and then firing cannonballs

Firing bullets and then firing cannonballs

Firing bullets and then firing cannonballs

Firing bullets and then firing cannonballs

Tuesday, 24th September 2024
Good episode? Give it some love!
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In this episode, Stuart and Mena introduce Jim Collins' book 'Great by Choice', focusing on how companies thrive in uncertain and chaotic environments. They explore the concept of "firing bullets, then cannonballs," where businesses test ideas with small, low-risk experiments before scaling successful ones. Using Apple as an example, they discuss how the iPod started as a small project but led to the launch of iTunes, which eventually became a multi-billion-dollar revenue stream.

The episode highlights the disciplined strategies of 10X companies like Microsoft and Intel, which outperformed their industries by consistently hitting performance benchmarks (the "20 Mile March") and developing Specific, Methodical, and Consistent (SMaC) practices. Stuart and Mena also delve into the concept of "productive paranoia," urging leaders to stay vigilant and prepare for potential risks, even in good times. They close the episode by encouraging businesses to test new ideas cautiously, validate them, and then invest in scaling them, reducing the risk of failure while fostering innovation.

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Work with Mena & Stuart's team: At ProSolution Private Clients we encourage clients to adopt a holistic and evidence-based approach when making financial decisions. Visit our website.

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IMPORTANT: This podcast provides general information about finance, taxes, and credit. This means that the content does not consider your specific objectives, financial situation, or needs. It is crucial for you to assess whether the information is suitable for your circumstances before taking any actions based on it. If you find yourself uncertain about the relevance or your specific needs, it is advisable to seek advice from a licensed and trustworthy professional.

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