On today’s show we’re taking a deep look at the book “Rocket Fuel” by Gino Wickman and Mark Winters. In addition to being book of the month, this is a book that we use deeply within the operation of our business. We hold regular weekly and quarterly meetings. The conduct of those meetings is framed through the teachings of this book, along with two other books.
Not only that, we have undertaken a book study within the leadership team of our assisted living business. The various construction managers, regional executive directors for each site, and the CEO of our operations company are all participating in the book study.
The way we conduct the book study is by reviewing one chapter each week together on a 30-45 minute zoom call. Each of the members of the team shares what they internalized from that chapter and how the teachings of that chapter apply to our business.
If you haven’t undertaken a book study, this is another way to consume content that involves internalizing the book’s contents in a meaningful way.
So let’s dig into the book Rocket Fuel. The title might seem a little obscure. The idea behind the title is that rocket fuel is made up of two vastly different elements, hydrogen and oxygen. By themselves, hydrogen and oxygen don’t have huge energy potential. But in combination, the results are extraordinary. So what does this obscure analogy have to do with business?
In companies that have visionary leadership, many of them fail because they lack the leadership to execute. At the other end of the spectrum, companies that focus on execution alone and lack vision also underperform. Those companies that achieve escape velocity are those that have a visionary leader, and an integrator. These are different skills and the magical pairing of these two attributes in two top leaders are the key to enable breakthrough performance.
Host: Victor Menasce