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Blink 3 of 8 - The 5 AM Club
by Robin Sharma
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Business Execution for Results summary
Stephen Lynch
A Practical Guide for Leaders of Small to Mid-Sized Firms
14 mins
Brief summary
Business Execution for RESULTS by Stephen Lynch is a practical guide that provides a step-by-step approach to implementing a successful business strategy, by aligning activities and resources around organizational goals.
Table of Contents
Business Execution for Results
Summary of 6 key ideas
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Key idea 1 of 6
Define ambitious goals that will show the path to success.
Have you heard the term Big Hairy Audacious Goals, or BHAGs? It was coined by Jerry I. Porras and Jim Collins in their book Built to Last. To qualify as a BHAG, a goal needs to meet four criteria:
It needs to be very big, take years to accomplish, be a little bit elusive in terms of the best way to attain it and must be easy to identify if it’s been achieved or not.
Consider Wal-Mart. Following World War II, the company’s founder, Sam Walton, set a remarkably bold goal; he wanted to turn his tiny variety store in Newport, Arkansas into the most profitable one in the entire state.
Since he was primarily selling cheap T-shirts and fishing rods at the time, this was a pretty audacious goal. It also wasn’t something he could achieve in a matter of months, and it wasn’t immediately clear how he could set about doing it. Finally, in terms of verifying his potential accomplishment, it would be easy to check the size and profit of his growing business against other stores in Arkansas.
By 1948, Walton had achieved his incredible vision – his store was the most profitable of any variety store in Arkansas. From there, he just kept setting goals and, decades down the line, by 2002, Wal-Mart had become the largest company on the face of the earth.
So, do as Sam did and identify your own BHAG. But a BHAG is not necessarily about growing your company; it can also be related to a specific product or project.
In 1934, Walt Disney set out to create the very first animated, feature-length film. No one in the industry believed in this bold project because animation was only considered suitable for short films.
History proved them wrong. Disney reached his goal when Snow White and the Seven Dwarfs was released in 1938.
People loved it. And even though Disney’s original goal hadn’t been revenue, the film did generate massive returns.
Next up, you’ll learn about two key concepts that are at the foundation of your business.
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What is Business Execution for Results about?
Business Execution for Results (2013) is a guide to building a better business. These blinks offer a practical plan for setting appropriate goals and performing the necessary analyses to create a winning business strategy that will lead your company straight to the top.
Business Execution for Results Review
Business Execution for Results (2011) by Stephen Lynch is a valuable read that provides practical insights on how to effectively execute business strategies. Here's why this book is worth your time:
- It offers step-by-step guidance on implementing strategies, ensuring that readers can turn theory into action.
- The book combines real-world examples and case studies to demonstrate the effectiveness of different execution techniques.
- With its emphasis on measurable results and continuous improvement, it keeps readers engaged and motivated throughout the learning process.
Best quote from Business Execution for Results
There is nothing so useless as doing efficiently that which should not be done at all. – Peter Drucker (renowned management thinker and author)
—Stephen Lynch
Who should read Business Execution for Results?
- Business owners and new entrepreneurs
- Leaders and executives in small to mid-sized companies
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Business Execution for Results FAQs
What is the main message of Business Execution for Results?
The main message of Business Execution for Results is the importance of effective execution in achieving business success.
How long does it take to read Business Execution for Results?
The estimated reading time for Business Execution for Results in hours is provided in the Blinkist app. The Blinkist summary can be read in just 15 minutes.
Is Business Execution for Results a good book? Is it worth reading?
Business Execution for Results is a valuable read for anyone looking to improve their execution skills. It provides practical insights and strategies for achieving results.
Who is the author of Business Execution for Results?
The author of Business Execution for Results is Stephen Lynch.
What to read after Business Execution for Results?
If you're wondering what to read next after Business Execution for Results, here are some recommendations we suggest:
- Think Small by Owain Service and Rory Gallagher
- The 5 Choices by Kory Kogon
- The Execution Factor by Kim Perell
- The 4 Disciplines of Execution by Chris McChesney
- Good Strategy, Bad Strategy by Richard Rumelt
- The 7 Habits of Highly Effective People by Stephen R. Covey
- Great by Choice by Jim Collins and Morten T. Hansen
- Focus by Daniel Goleman
- Business Model Generation by Alexander Osterwalder and Yves Pigneur
- Mind Magic by James R. Doty