Building a flywheel
I’ve been reading Jim Collins’ new monograph (small book), Turning the Flywheel, that is a an add on to his Good to Great in which he expands his initial flywheel concept.
A flywheel builds momentum over time, it requires a big difficult push in the beginning but eventually builds up enough momentum that is seems to nearly run by itself.
Building a flywheel in your business is one of Collins’ most remarkable observations. He observed that companies that are truly great instinctively build flywheels in their businesses.
A business flywheel consists of an initial action that in turn fuels the momentum of 4 to 6 other actions,
If I do X, we can help but get and do Y, if we do Y we can help but get and do Z., and Z trigger X again, and so the wheel turns.
It’s, still, a magnificent principle, I highly recommend you get the book.
Get skin in the game