Pile On Motivation

Join 21K other subscribers

Tag: Fire bullets then cannonballs

  • Why “FIRE BULLETS THEN CANNONBALLS” guarantees long term SUCCESS?

    The following insight adopted from Jim Collins’s book Great by Choice shows why taking small bets is the preferred approach to achieve long term success by building on the small bets and taking a big bang approach after the small bets succeed. This is a proven methodology based on research done by Jim Collins for all 10X companies led by 10X leaders.

    Fire Bullets, Then Cannonballs: A bullet is an empirical test aimed at learning what works and that meets three criteria:  a bullet must be low cost, low risk, and low distraction.10Xers use bullets to empirically validate what will actually work.  Based on those empirical validation, they then concentrate their resources to fire a cannonball, enabling large returns from concentrated bets.

    Adopted from Jim Collins’s book Great by Choice

  • As a LEADER do you have an AUDACIOUS GOAL in sight?Learn how great companies approach such targets..

    “Fire Bullets then Cannonball” is an approach adopted by high performing 10X organizations to validate scale up options , as mentioned by Jim Collins in his book Great by Choice..

    A bullet is a low-cost, low-risk, and low-distraction experiment that helps to empirically validate what works (and what doesn’t). Based on the outcomes of that, 10X companies will then fire a cannonball, investing larger resources to enable disproportionate returns from concentrated bets.

  • What is meant by “Fire Bullets then Cannonball” approach?

    “Fire Bullets then Cannonball” is an approach adopted by high performing 10X organizations to validate scale up options , as mentioned by Jim Collins in his book Great by Choice..

    A bullet is a low-cost, low-risk, and low-distraction experiment that helps to empirically validate what works (and what doesn’t). Based on the outcomes of that, 10X companies will then fire a cannonball, investing larger resources to enable disproportionate returns from concentrated bets.

  • When South West Airlines fired “un-calibrated cannonballs”

    Adopted from Jim Collins’s book titled “Great By Choice”

    “Fire Bullets” Then “Cannonballs” approach mentioned in his book needs firing cannonballs when the bullets hit the incremental innovation targets.

    10X companies for e.g. SWA ideally fire calibrated cannonballs out of empirical validation and hence have achieved unparalleled  success.

    But history is witness to the fact that even SWA have fired “un-calibrated cannonballs” for e.g. acquisition of Muse Air in 1980’s.The only difference is that these companies have the needed discipline to learn from their mistakes and hence have been able to turn around from failures.

  • “Business innovation” and use of a cannonball approach

    Adopted from Jim Collins’s book titled “Great By Choice”

    In the “Fire Bullets” Then “Cannonballs” approach lets try to understand about cannonballs.

    Once the incremental innovations are tested by firing “bullets” and they hit their targets , the “cannonballs” need to be fired.

    Cannonballs can be 1) Calibrated and 2) Un-Calibrated

    A calibrated cannonball has confirmation based on empirical validation and are more likely to be successful.

    An un-calibrated cannonball can lead to calamity because they are fired without any experience based confirmation.

    Think of Pacific SouthWest Airlines’s demise and their FLy-Drive-Sleep was an un-calibrated cannonball that eventually led to the demise of PSA.

  • In the context of “Business Innovation” what is a bullet?

    Adopted from Jim Collins’s book titled “Great By Choice”.

    Innovative high performing companies adopt a “Fire Bullets” then “cannonball” approach to outwit their rivals in the infinite game of business.In such an approach starting from firing bullets to test out the incremental innovation is imperative to scale up and later fire cannonballs.

    The following are the three components of a “bullet”

    1. Low Cost – Should not jeopardize the business model
    2. Low risk
    3. Low distraction

    Once these steps are validated and “bullets” fired hit their targets it should give a fair enough indication to scale up and fire “cannonballs”

  • “Fire Bullets” Then “CannonBalls”

    After reaching an “innovation threshold” this is the approach that explains the success of 10X or high performing companies rather than big leap innovations and predictive genius.

    “Fire Bullets” Then “CannonBalls” implying gradually scaling up innovations starting from a small scale(bullets).When these innovations hit their targets then only plan on launching the cannonballs.

    Adopted from Jim Collins’s book titled “Great By Choice”

    Watch out this space for more on this approach.