Saturday, August 20, 2005

"Hustle, Passion, and Resiliency"

Firepoll CEO Will Allred had a great post on his blog, commenting on the Jason Calacanis theory that business is all about three basic elements: 1) Hustle 2) Passion 3) Resiliency. These are definite must-read articles for entrepreneurs looking for a secret to success that doesn't require an MBA.

In an interview with the Harvard Business Review, Dell hotshots Michael Dell and Kevin Rollins support Calacanis' theory by suggesting that their company's success is due mostly to consistent, disciplined execution -- the natural byproduct of the three virtues mentioned above.

Here's the quote from the article:

"HBR: The elements of the Dell business model are no secret: going direct, information over inventory, world class manufacturing, and superior customer information. Everybody knows these, so why haven't other companies been able to copy your model or beat you at your own game?

Rollins: The same reason why K-Mart can't imitate Wal-Mart. What Wal-Mart does isn't rocket science - it's retailing. Why can't everybody be Wal-Mart or JetBlue or Samsung or whatever the best company in their industry is? Because it takes more than strategy. It takes years of consistent execution for a company to achieve sustainable competitive advantage. So while Dell does have a superior business model, the key to our success is years and years of DNA development within our teams that is not replicable outside the company. Other companies just can't execute as well as we do."

Remember, Michael Dell didn't graduate from college. He used hustle, passion, and resiliency to develop a simple plan and execute it with disciplined precision.

I think most entrepreneurs (including me) need to focus more on simple execution. Sometimes we spend too much times in meetings talking about how great our idea is and how it's going to change the world, when what we should be doing is putting the rubber to the road, reaching strategic goals, and making money.

Any ideas on how to make a company execute with Dell-like efficiency?

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