Like Amazon did - Ask yourself: What’s our flywheel?

Like Jeff Bezos of Amazon once did - Ask your team: What’s our flywheel?  

Bezos asked this question of his executive team in 2001 after a pivotal meeting with leadership researcher and author Jim Collins.  

Jim Collins, author of “Good to Great”, had excited the team with “the flywheel effect” showing that persistent effort on certain key factors gets results and drives growth.  

At first, the “flywheel” is hard to turn, but with consistent focus on the right things, it starts to turn and the business gains momentum. 

Amazon’s flywheel began with “Lower prices on more offerings” which led to “Increase customer visits” which led to “Attract third party sellers” which led to “Expand and extend distribution” which led to “Grow revenues per fixed costs” which led to “Lower prices etc.”  

REFLECT:  

What are the key drivers in your business? What brings customers to your door? 

TAKE ACTION:  

Discuss and create your own flywheel. How can you incrementally improve each of your key drivers to make the flywheel spin?  

BE INSPIRED:  

" "I've come to really appreciate the power of the flywheel, because of the great student I once had [Jeff Bezos, founder of Amazon]."- Jim Collins 

Karen Beattie 

Founder & CEO, Growth Faculty