by Jonathan Jones
Even when you are successful, business is an ongoing challenge for survival. Stand still, and you’re a sitting duck. Change too much, and you lose what made you great in the first place. Jim Collins’ Preserve the Core/Stimulate Progress principle is the key to thriving—staying true to your foundational core while pushing relentlessly toward a Big Hairy Audacious Goal (BHAG).
Think of it as launching a rocket into orbit. Your core values are the mission control—guiding everything you do. But mission control alone won’t get you to space. You need progress, the powerful fuel that drives innovation and continued growth, to keep you in orbit.
1. Prioritize your Culture – You can have the best plans, but nothing happens if your team isn’t engaged. Build a culture where people are excited to push boundaries while staying true to the mission.
2. Protect What Makes You Great – Your core values aren’t trends; they’re your DNA. Whether it’s a fanatical focus on customer service or a commitment to ethical business, never compromise on what defines you.
3. Set a BHAG That Electrifies Your Team – A Big Hairy Audacious Goal isn’t just “grow sales.” It’s “become the category leader in the next five years and dominate in twenty years” or “redefine the industry standard.” If your team isn’t fired up and challenged, your BHAG isn’t bold enough.
4. Evolve or Become Irrelevant – Blockbuster stayed true to its core but ignored progress. Netflix? It has the same core (entertainment) and more thoughtful execution. Innovate within your mission, or someone else will.
The best businesses don’t choose between stability and growth. They do both. The question is: Are you building a legacy—or just playing it safe?
Jonathan Jones (Jonathan.jones@vistagechair.com or 314-608-0783) is a CEO peer group chair/coach for Vistage International.