In Jim Collins’ fantastic book Good to Great, there is an interesting concept called the Flywheel effect.
Essentially, a cycle of things that you can keep doing, that builds up momentum. This is how companies can keep growing and becoming better. Here is an example of a flywheel from one of my own companies:
- Great Customer Experience — Customers that get tangible quality results from Mäd that help them move up.
- Proof — Potential customers can see real proof of point #1.
- Traffic — More and more potential customers inquire to Mäd about our services as our brand is known.
- Mäd Brand Investment — Investing in making Mäd better (equipment, office, web, social media, culture, etc..). This helps drive new talent by making Mäd desirable.
- Talent Development — Investing in our people, and also finding awesome new people! Making the best place to work and grow.
I am beginning to think, why can’t we create a flywheel for our own personal lives? What are the various things to focus that build momentum in what we do?
These are interesting questions, and something I’ll be exploring in the near future in a longer essay.