The idea of the Hedgehog Concept first came to life in Jim Collins book “Good to Great.” Essentially, the Concept brings to light the methods utilized by top-level business managers to run a business. According to the concept, there are two persona’s that a top-level business manager can adopt when running a business – that of a hedgehog or that of a fox.
The idea behind the Hedgehog Concept is that in nature, hedgehogs understand how to do one thing and one thing only – but they do it extremely well. Unlike the hedgehog, the fox understands how to do multiple things. Unfortunately, however, the fox is not so skilled in his approach and in his hurry to achieve his goal ends up losing focus.
According to the Hedgehog Concept, in order to succeed in business it is necessary to develop a strong discipline. Focus on one ultimate goal and tackle it with great insight and a strong understanding of the elements that surround it. In other words, do one thing really, really well.
In order to go from good to great, business owners must develop a strong understanding of what it is that sets them apart from all others. What is that they do better than the competition?
Thinking like a Hedgehog to get from Good to Great
ï¿½ What is your passion? It is easier to talk about the things you love than it is to carry on a conversation about things that are of little interest to you.
ï¿½ What are your natural abilities? What can you do better than everyone else?
ï¿½ Where can you make the most money? It is imperative to have a strong knowledge of your profit margins and focus your attention on driving revenue from the things that you are passionate about.
Successful business, both on and offline are built on consistency. While there may arise times when it becomes necessary to veer off course, this should be only as a last resort. In the book “Good to Great” the Hedgehog Concept dictates a large number of advantageous benefits for leaders in businesses who take the time to appropriately develop an actionable plan and then act on it. Following the concept will better help businesses in laying the foundational building blocks for a successful, long-term venture.
Get it right and over the long term your business will only prosper. A technique worth mastering so your business can reap the rewards.