Podcast Notes Key Takeaways

• The absolute best company leaders are able to dissolve their ego into the company and develop a sense of humility far above the rest
• Focus on your decision-making process, not the outcome
  • Remember: You can make the right decision and still have a bad outcome
• We live in a probabilistic world and our brains aren’t wired for it
• “We tend to think that we are rational because we’re smart, but deep down, feelings win”– Jim Collins
  • As logical as people are, humans are emotional beings at their core
• Try to change every ‘what’ decision into a ‘who’ decision
  • Not – “‘What should we do about this cybersecurity threat?’
    • But, – “Who should we have involved in it?”
  • Not – “What should we do about this investment decision?”
    • But – “Who should we have involved in it?”
• “What we’ve found is that the most durable results happen as a series of good decisions that accumulate one upon another over a very long period of time. This creates a massive compounding effect.” – Jim Collins
  • This is also known as a flywheel principle – small actions over time compound to create massive results
• Look for situations in life where you can fire bullets (try things), aim and calibrate (make sure you’re getting good results), and then fire a cannonball (go all-in)

Read the full notes @ podcastnotes.org

An earnest student and powerful teacher, mega best-selling author Jim Collins goes under the hood and shows what all enduring companies have in common. We talk luck, leadership, and business longevity. 

PREMIUM: Support the podcast, get ad-free episodes, transcripts, and so much more: https://fs.blog/knowledge-project-premium/