Jim Collins' book Good to Great: Why Some Companies Make the Leap and Others Don’t is a must-read for business owners. It’s practical and inspiring.
Simple Lessons for Success
Collins explains what sets great companies apart. The good news? Any company can do it with effort. You don’t need a rare idea or a flashy leader.
Focus on the Economic Engine
Collins says each company has an economic engine. It’s measured by a key number. Leaders need to find out what that number is.
Some examples stand out. Walgreens realized profit per visit was more important than profit per store. Kroger focused on profit per local population, not per store. The key is to understand the business deeply.
Collins doesn’t explain exactly how companies figure this out. That made me curious. I looked for patterns in his examples.
Cost Efficiency
Cost efficiency is a common focus. This lines up with Michael Porter’s Competitive Strategy. Cost leadership is a basic strategy.
Mission-Based Efficiency
Abbott focused on lowering healthcare costs. Their key number was profit per employee.
Commodity Efficiency
Nucor, a steel company, and Wells Fargo, a bank, tracked profit per ton of steel and profit per employee. Simple and direct.
Geographic Factors
Some companies chose numbers tied to location:
Circuit City tracked profit per region.
Kroger focused on profit per local population to dominate markets.
Marketing and Branding
For some companies, marketing mattered more than costs:
Philip Morris tracked profit per global brand. Strong brands drove growth.
Pitney Bowes tracked profit per customer. Customer relationships were key.
Niche Markets
In Scaling Up, Verne Harnish talks about Perceptionist. They stopped general call handling and focused on booking appointments. This niche made them five times more profitable.
Finding a profitable niche can change everything.
What We Can Learn
Great companies focus on basic business principles and know their market well.
They study trends, listen to customers, and review data. Their success comes from steady improvements, not sudden changes.
The lesson is simple. Apply solid business practices, stay focused, and keep going. Small steps lead to big results.
Stickers and labels can play a big role in a company’s growth. They boost brand recognition, enhance product presentation, and leave a lasting impression. Custom stickers and labels are affordable tools that help market products and improve operations.
High-quality labels show professionalism and attention to detail. A unique sticker can strengthen brand identity and make products stand out. Eye-catching labels can draw customer interest on shelves, and branded packaging can encourage repeat purchases.
Labels also improve efficiency. They clearly mark inventory, shipping, and product details, which reduces mistakes and streamlines processes. Businesses that prioritize effective labeling often outperform competitors who don’t.
