Thursday, March 19, 2009

built to last -james c. collins

people say everything  has positve and negative side but thinking about the positive side of economic recession is really a crazy thing to do .One trend that is clearly emerging during this recession is entrepreneurship.Suddenly everybody has started talking about startups,business plans and virtual capitalists. Charismatic leadership and brilliant B-PLAN having  large no. of excel sheets filled with financial statements are some points which instantly comes to our minds whenever we talk about entrepreneurship.These things intimidate many passionate freshers who want to make their niche in this brutally competitive world.
                    This book is  about, how many visionary companies have sustained their growth and market for as long as 150 years.It talks about everything you need to make a visionary company taking examples from some of the giants like 3M,disney,GE,Sony and philip morris and what their competitors didn't do and got eroded  in the course of time.Well most of the chapters deal with sustaining a visionary company but their are certain chapters dedicated to the history of the companies when they were small startups.In one of the chapters author has also exploded the myth of entrepreneurship which i wud like to discuss here.

myth1:charismatic leadership is required for a company-well yes charisma helps in building relationships but these leaders sometimes become lone wolves.They just take all the decisions on their own as they don't get someone to match wth  their skills and personality.An effective team player can be more useful for a company with organistic working.At the peak of it's success nobody knew the name 3M's CEO  as he was a very effective team builder , keeping himself in background.

myth2:great b-plan is required-passion to do something in the field of ur interest is the only thing what it takes to build a successful venture.When Masaru ibuka founded a company, it's employees including him were thinking of what to manufacture even after company was already registered.HP started with something very different than what they are making now.

so guys if u really think u don't have it in you what it takes to be an entrepreneur just because  you are not a hotshot of your college or don't have any crazy yet feasible b plan ,don't worry as passion to do something and strong commitment to your core ideologies are the only things which can make u survive and thrive in these difficult times 

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