by Chris Banescu –
In the book Great by Choice, authors Jim Collins and Morten T. Hansen set out to discover why some companies thrive in uncertain and chaotic times while others do not. Their extensive research identified what they named “10Xers“, businesses that didn’t just get by or became successful, but “truly thrived” beating other companies in their industry by “at least 10 times.”
Collins and Hansen set out to find enterprises that (1) sustained spectacular results for 15+ years relative to their industries and the market, (2) achieved results in turbulent and uncertain times, and (3) began their rise to greatness while being in a position of vulnerability.
Out of the 20,400 companies they initially began reviewing, they discovered just seven 10Xers (10X businesses) who fit their stringent performance characteristics.
The authors’ found that all 10Xers displayed the following behaviors: fanatic discipline, empirical creativity, and productive paranoia, all animated by “Level 5 ambition.” [Read more…]