BHAGs as a key way to stimulate progress while preserving the core. I would like to highlight the connection between the three circle of Hedgehog concept and BHAGs as well. A BHAG (Pronounced bee-hag, short for “Big Hairy Audacious Goal”) is a huge and daunting goal- like a big mountain to climb. It is clear, compelling, and people “get it” right away. A BHAG serves as unifying focus point of effort, galvanizing people and creating team spirit as people strive towards a finish line.
However, as exciting a BHAG are, we left a vital question unanswered. What is the difference between a bad BHAG and a good BHAG?
Bad BHAG, it turns out, are set with bravado; good BHAGs are set with understanding, indeed, when you combine quiet understating of three circles with the audacity of a BHAG, you get a powerful, almost magical mix.Good to Great by Jim Collin
Click here to detail book review of ‘Good to Great‘ by Jim Collin
Hedgehog concept is very precise and dense concept that intersect these three basic understanding circles:
- In which skill set or matter you can be the best in the world? It doesn’t means your core competency, it not necessary that you are best in it over the rest of the world. It actually means that you have to dig out a skill that meets you and you can be the best in it.
- What drive you financial system? You need to analyze the skill you chosen that is it a money making machine or not? If it is not a money making machine, it doesn’t go to work for you. And effective money making machine with robust cash flow and profitability.
- What your passion? The main idea of this concept is to amalgamate your passion, skill and money. So that you will get all three in a single basket.
the single biggest danger in business and life, other than outright failure, is to successful without being resolutely clear about why you are successful in the first place.‘Good to Great’ by Jim Collin