Wednesday, April 19, 2006

Double Digit Growth

I went to a YPO event tonight. Great speaker. YPOer talked about integrity and government corruption. In the middle of the talk, I got a cell call. Need to learn to turn it off in those situations.

The event started early so I needed to leave work early. So when I got home, my emails were way backed up.

I just read a book called, " Double - Digit Growth - How Great Companies Achieve It - No Matter What" by Michael Treacy.

This is now one of my favourite books. (I tend to be a bit fickle and flip from book to book as to which ones are the best.) One thing that I love about the book is the number of examples it gives of companies that maintain double-digit growth for long periods of times. I am a huge growth addict (growth is a great way to drive efficiency into an organization painlessly). Growth is also fun and inspirational. I could rephrase one of the principles of the book with one of my favourite sayings, "Fail often, fail fast, and fail cheap." The gist of it is to experiment in different areas and search aggressively for areas where things can get traction. Look at the downside so don't risk too much. Do it fast and do it often.

The book talks about the toughest way to grow as taking market share from another competitor, growing within a static market is extremely expensive and in most cases very damaging to a company. That's why we constantly seek new markets or markets and change. I have always said, "Change is opportunity".

The book is a great read and I highly recommend it to anyone who has an interest in business.

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