The fifth lesson from Good to Great by Jim Collins  is around the intelligent use of technology as an accelerator of business success.   Collins was researching what made good companies become great companies.  We can also learn lessons from the research to apply in our own lives.

Technology as an accelerator

We have seen a lot of technological change in the past.  New technologies impact on our world on an ongoing and more frequent basis.  We have had the industrial revolution, railroads, electricity, radio, television, personal computing and the internet to name a few.  Therefore technology induced change is nothing new and we can expect new predicted and unforeseen technological change in the future.  The main point from the book about technology is that the use of new technology was an accelerator of momentum and not a creator of momentum.  Good to great companies did not use technology for its own sake but linked to the three intersecting circles of their hedgehog concept.

The question is do you know your business and personal hedgehog concept?  And how can you use technology as an accelerator in your business and in your personal life?

Summary

In summary  you must remain true to our hedgehog concept.  Technology is not a magic bullet to achieve success.  First and foremost we must be very clear about who we are and what we are about (our hedgehog) and then work out how to apply selected technologies as an accelerator of momentum and not as a creator of momentum.

Best Wishes,

Tom

PS More lessons from the book next week.  In the meantime have a look at Jim Collins’s website for further information and resources.

Grab your copy of ‘Good to Great’ from Amazon: