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The Tim Ferriss Show
#483: Jim Collins on The Value of Small Gestures, Unseen Sources of Power, and More
Dec 2, 2020
02:46:25
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Quick takeaways
- Effective mentorship can be transformative, providing guidance and opportunities for growth.
- Crafting thought-provoking questions fosters transformative conversations and personal ownership of ideas.
- Studying leaders with shadow elements offers valuable insights on navigating complex landscapes.
- Combining purpose and profit leads to success, as exemplified by Patagonia.
- Successful companies embrace both seemingly opposing ideas, achieving outstanding results.
Deep dives
Bill Lizzier: A Mentor for Growth and Belief
Bill Lizzier was a pivotal mentor in the life of the speaker. They met by chance in a course, and Bill took a genuine interest in the speaker's growth and development. He believed in the speaker and provided guidance and support. Bill became a project for the speaker, constantly asking questions and challenging them to reach their full potential. His belief in the speaker led to a significant opportunity when he recommended the speaker to fill in for another professor. Bill's mentorship was transformative, as he taught the speaker the importance of seizing opportunities and not wasting their shot at success.
The Power of Questions and the Craft of Socratic Conversation
The speaker is renowned for his ability to ask thought-provoking questions and engage in Socratic conversations. Rather than providing answers, the speaker focuses on crafting questions that challenge and push others to come up with their own answers. Starting with a blank sheet of paper and asking participants to write down their top five brutal facts, the speaker sets the stage for meaningful dialogue. By fostering an environment of deep thinking and introspection, the speaker creates conditions for transformative conversations. This approach not only allows for rich exploration of ideas but also encourages individuals to take ownership of their thoughts and develop their own insights.
Lessons from Dark Leadership Figures
Examining the lives of leaders with shadow elements can provide valuable lessons. The speaker highlights the work of Robert Moses, a master of power who shaped New York City, and Lyndon B. Johnson, whose biographies shed light on his journey from ambition to historical service. These figures offer insights on navigating complex political landscapes, managing power, and the evolution of leadership. While the speaker acknowledges the darker aspects of these leaders, he emphasizes the importance of distilling the valuable lessons without being influenced by the negative aspects of their personas.
Bill Lizzier's Impact and Legacy
Bill Lizzier was a pivotal mentor who played a significant role in the speaker's life. He was instrumental in shaping the speaker's development and providing guidance. Bill's belief in the speaker and his constant support made a lasting impact. By recommending the speaker for important opportunities and pushing them to embrace their potential, Bill helped them find their direction. The speaker chose to honor Bill's legacy by re-releasing their first book and extending his impact to a wider audience. Bill's mentorship demonstrated the power of belief and the transformative role of a great mentor.
The Importance of Purpose and Profit: The Patagonia Example
Patagonia, founded by Ivan Schenard, exemplifies the combination of purpose and profit. The company aims to change the climbing community for the better by promoting sustainable practices. In their manifesto, they address the need for clean climbing and provide innovative solutions to accomplish this goal. Patagonia's success as a business is driven by their purpose and commitment to social and environmental change.
The Genius of the And: Embracing and Maintaining Dualities
Successful companies reject the tyranny of 'or' and embrace the genius of 'and'. They find a balance between seemingly opposing ideas, such as discipline and creativity, innovation and execution, and purpose and profit. This ability to live with both sides of the equation allows companies to excel in multiple areas and achieve outstanding results.
Simplification as a Path to Fun and Focus
There is a growing desire for simplification that leads to more enjoyment and focus. Simplifying daily tasks and priorities, as well as letting go of unnecessary commitments, can create space for fun and fulfillment. Asking oneself what activities can be stopped or reduced when considering a limited time frame, such as having ten years left to live, can guide individuals in prioritizing what truly brings them joy.
The Difference Between Clock Building and Time Telling
Clock building refers to the act of building enduring organizations that can thrive beyond the influence of a single leader. It involves cultivating systems, processes, and people that ensure the company's success in the long run. On the other hand, time telling refers to leadership that is focused on short-term results and individual heroics. By embracing clock building, companies create lasting impact and enduring success.
The Importance of Building an Enduring Company
Building an enduring company involves shifting from being a time teller to becoming a clock builder. Successful entrepreneurs recognized the need to build a company that can thrive even without their direct involvement. They focused on building systems, nurturing culture, and creating mechanisms that allow the company to function independently. Starting this process early in the company's journey lays a solid foundation for long-term success and growth.
The Power of Mentors and Self-Renewal
Finding mentors who can shape and guide you is crucial for personal and professional growth. Mentors can ask the right questions and help you discover your true self. Additionally, they can inspire you to ask important questions about the essence of your life and guide you towards achieving renewal over the course of your entire life. Embracing self-renewal involves questioning what you would do differently if you had limited time and continuously evaluating how you can make a positive impact on others' lives.
14.
Create Your Own Father by Reading Biographies of People You Really Looked Up To
2min
Jim Collins (jimcollins.com) is a student and teacher of what makes great companies tick and a Socratic advisor to leaders in the business and social sectors. Having invested more than a quarter-century in rigorous research, he has authored or co-authored six books that have sold in total more than 10 million copies worldwide. They include Good to Great, the #1 bestseller that examines why some companies make the leap to superior results, and its companion work Good to Great and the Social Sectors; the enduring classic Built to Last, which explores how some leaders build companies that remain visionary for generations; How the Mighty Fall, which delves into how once-great companies can self-destruct; and Great by Choice, which is about thriving in chaos—why some do and others don’t.
And now he’s updating his debut book, Beyond Entrepreneurship, for the 21st century. Beyond Entrepreneurship 2.0: Turning Your Business into an Enduring Great Company is now available.
Please enjoy this round two with Jim Collins! (And if you haven’t already, make sure to check out round one here.)
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This episode is also brought to you by GiveWell.org! For over ten years GiveWell.org has helped donors find the charities and projects that save and improve lives most per dollar. Here’s how: GiveWell dedicates over twenty thousand hours a year to researching charitable organizations and hand-picks a few of the highest-impact, evidence-backed charities. Since 2010, GiveWell has helped over 50,000 donors direct over 500 million dollars to the most effective charities. Most importantly, these donations will save over 75,000 lives and improve the lives of millions more.
This year, support the charities that save and improve lives most, with GiveWell. Any of my listeners who become new GiveWell donors will have their first donation matched up to $250 when you go to GiveWell dot org/Tim and select “PODCAST” and “Tim Ferriss” at checkout.
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Past guests on The Tim Ferriss Show include Jerry Seinfeld, Hugh Jackman, Dr. Jane Goodall, LeBron James, Kevin Hart, Doris Kearns Goodwin, Jamie Foxx, Matthew McConaughey, Esther Perel, Elizabeth Gilbert, Terry Crews, Sia, Yuval Noah Harari, Malcolm Gladwell, Madeleine Albright, Cheryl Strayed, Jim Collins, Mary Karr, Maria Popova, Sam Harris, Michael Phelps, Bob Iger, Edward Norton, Arnold Schwarzenegger, Neil Strauss, Ken Burns, Maria Sharapova, Marc Andreessen, Neil Gaiman, Neil de Grasse Tyson, Jocko Willink, Daniel Ek, Kelly Slater, Dr. Peter Attia, Seth Godin, Howard Marks, Dr. Brené Brown, Eric Schmidt, Michael Lewis, Joe Gebbia, Michael Pollan, Dr. Jordan Peterson, Vince Vaughn, Brian Koppelman, Ramit Sethi, Dax Shepard, Tony Robbins, Jim Dethmer, Dan Harris, Ray Dalio, Naval Ravikant, Vitalik Buterin, Elizabeth Lesser, Amanda Palmer, Katie Haun, Sir Richard Branson, Chuck Palahniuk, Arianna Huffington, Reid Hoffman, Bill Burr, Whitney Cummings, Rick Rubin, Dr. Vivek Murthy, Darren Aronofsky, and many more.
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