Creativity, Community, and Other Comments
In his book "Good to Great," Jim Collins explains that there are two types of companies: good companies—the "foxes"—and great companies—the hedgehogs." Here, we simplify Collins's "Hedgehog Concept" and explain why it gives you a competitive edge.
Remember Magic 8 Balls? Born in the 1950s, they were still popular in the ‘90s heyday of Hit Clips, slap bracelets, and getting dysentery on the Oregon Trail. (What can I say? My generation has good taste.) But cool as they are, Magic 8 Balls have never offered much useful information. And if you're not doing your focus groups right, the same might be true of them.
We’ve grown to love companies like ClassPass, Airbnb, Uber, Rent the Runway, and Zipcar—companies built on trust among strangers. Yes, they’re inexpensive and convenient, but how is this “sharing economy” thriving when our trust in other people is lower now than at any point in the last 40 years?