by Richard Koch..........
1: ONLY WORK IN NETWORKS
The future belongs to networks. Therefore only work in a network business or a not-for-profit network.
Networks thrive on positive feedback – the famous get more famous, the rich get richer, leading companies become virtual monopolies, and the skilled specialist goes further and further ahead of her less experienced rivals.
Networks exhibit galloping 80/20. Network business comprise a small proportion of total businesses; yet they generate most of the money to be had in business. If you work exclusively in network businesses, you will have a head start, a lead lengthened each year by the march of the 80/20 future.
Head start or albatross. Your choice.
2: SMALL SIZE, VERY HIGH GROWTH
Within the universe of network businesses, you could choose to join one of the established winners at the center – Amazon, Google, Facebook, Uber, or the like. But that would not be smart. You would arrive at the party far too late to have much fun.
The best type of business to join is one that has just started, yet is already growing exponentially. That way you and your abilities will blossom in parallel – another little positive feedback mechanism. Nobody knows what they are doing and it is exhilarating to test what works best and to learn ahead of anyone else.
It is not just about money. The most fun I ever had has been in very small, very fast-growing companies – BCG, Bain & Company, LEK Consulting, Belgo, Betfair, and now Auto1. There is something about growth of 40 to 300 per cent per annum that makes you feel on top of the world. Such companies know something that other firms do not, and the personal growth and gratification from being part of a wildly expanding team has to be experienced to be understood.
Join an outfit with fewer than a hundred employees, increasing revenues by at least 30 per cent a year – ideally fewer than twenty people and at least doubling each year.
3: Only work for an 80/20 Boss
What is an 80/20 boss? By their works shall you know them:.............Read the full Article
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