The 6 Biggest Mistakes of Business Planning 1. Not having a plan 2. Not examining last year’s plan 3. Not having an enemy that acts like rocket fuel 4. Failing to integrate logic and emotion in the current plan 5. Not making it a living document — don’t use it to manage 6. Not sharing it (so no one could hold you accountable)
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When you see a problem or an opportunity, I want you to shift your thinking from “We need a solution for that” to “We need a system for that.” A solution is a onetime fix that requires you to keep reinventing the wheel and puts you in a reactionary place. A system is an ongoing activity that becomes duplicatable.
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Traits of Companies That Attract Intrapreneurs 1. Their executives are comfortable taking calculated risks and encouraging creativity. 2. Their compensation plan incentivizes innovation and outstanding performers. 3. Their executives play offense (improve) instead of just playing defense (cover their asses). 4. Their executives elevate potential stars rather than hold them back. 5. Their executives actively seek out ideas from all layers of the organization. 6. Their executives actively look for young talent to keep the company vibrant and innovative.
Mohammad Reza Pahlavi, the shah of Iran from 1941 to 1979, changed his country’s direction until his inability to handle too much power led to the fall of an empire. He’s a reminder to never get so confident as to underestimate an opponent such as Ayatollah Ruhollah Khomeini, who led the revolt that exiled him.