Summary of Jim Collins's Turning the Flywheel

Please note: This is a companion version & not the original book. Book Preview:

#1 The flywheel effect is the process of turning a large, heavy flywheel. It takes a lot of effort to push the flywheel, but once you do, it moves forward very quickly. The flywheel builds momentum as it turns, and once it has enough momentum, it will fly forward without you having to push it.

#2 The Amazon flywheel is a great example of how to build and maintain compounding momentum. It is a customer-value compounding machine that remains largely intact over the years, creating a constant stream of results that can be used to sustain and grow the business.

#3 The Vanguard flywheel is a great example of how a sequence can ignite and accelerate momentum. If you nail one component, you’re propelled into the next component, and the next, and the next, and the next - like a chain reaction.

#4 The most common strategic mistake is not making the most of victories. If you conceive of your flywheel in the right way, and if you continually renew and extend the flywheel, it can be remarkably durable.

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Rafbók: 19 september 2022