My favorite learning material from this week was the Hedgehog Concept in Good to Great.
"Hedgehogs are relatively simple animals who know just one big thing and stick to it. Good-to-great companies do something similar they consistently stick to doing what they do best and
avoid getting distracted into new fields of business that are away from their core competencies."
To me, the Hedgehog Concept is simple but sometimes difficult to practice since we are surrounded by a lot of information that could attract us to newer opportunities. So, to analyze my business value, I should pay attention to the following question that Jim is asking;
1. What the company is best-in-the-world at.
2. The key factor that drives corporate profitability.
3. What I am deeply passionate about.
1. What the company is best-in-the-world at
Though my videos are not the best in the world, I have good competitive and creative skills which can impress a good number of clients and audiences. My main strength in this field is making product testimonial videos or life story videos for MLM companies so far.
2. The key factor that drives corporate profitability
The key factor of the success of my videos is that my videos are not product-focused videos, but people-focused. I tell the story of people's lives such as how they faced challenges and overcame them while I introduce the products. These videos are liked both by the company and the people who watch them.
3. What I am deeply passionate about.
I am deeply passionate about telling inspiring stories. I have been good at doing it thru non-fiction style for many years. However, my interest in doing it thru fiction is growing recently. I would also love to develop the tools for everyone to create inspiring their family life story videos.
Another concept I liked:
Fanatical adherence to the hedgehog concept.
"The best way to become an average company is to try and be good at lots of different things. By contrast, good-to-great companies focus exclusively on projects that align with their
hedgehog concept...In short, good-to-great companies have the discipline to continue doing whatever builds on their hedgehog concept and avoid everything else. Paradoxically, that actually opens up more opportunities for growth than if the company attempted to undertake loads of
other unrelated business projects."