Friday 5: Five Lessons on Building Momentum from Jim Collins | Episode 181
Outliers with Daniel Scrivner: Explore the Greatest Innovators, Founders, and Investors
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Defining and Building Momentum with a Flywheel
This chapter explores the concept of a flywheel and its significance in creating and sustaining momentum in a business. It discusses the example of Vanguard's flywheel, emphasizing the compounding effect of catalytic actions. The chapter also introduces strategies such as defining a clear vision, optimizing every component, and taking calculated big bets to extend the flywheel and validate success.
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