IILIFE

Start with Why: How Great Leaders Inspire Action by Simon Sinek

July 12, 2022
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Start with Why: How Great Leaders Inspire Action by Simon Sinek

By: Ravi Katta from IILIFE | IILIFE VENTURES

There is an abundance of knowledge in a variety of professional fields that can be gained from many experienced entrepreneurs and coaches. The difficulty, however, that some individuals face when attempting to procure this information, lies in a lack of time. You might not want or be able to sit down for a few hours to listen to a podcast or read a book, which is where I come in from your IILIFE Tribe (IILIFE). I’ve taken the time to summarize Simon Sinek’s Start with Why, a book about how to get your company to excel in your field by focusing on the “WHY”.

WHY?

It is essential for companies to find a WHY within their business model and communicate that to others, especially to consumers. Convincing communication of this WHY is what differentiates successful businesses from those that struggle. Articulating a WHY effectively allows firms to form a loyal customer base and turn one time customers into repeats. Southwest Airlines, for example, does an excellent job of communicating their WHY of making employees and customers feel welcomed and safe. By emphasizing that they prioritize the safety of passengers above all, followed by treating customers like family, they have amassed a very strong following. Your WHY should be inspirational to motivate customers to seek out your brand even when offered potentially cheaper alternatives.
Before making decisions, it is essential to realize potential implications in the future for the specific decisions being made. Predicting those ahead of time and anticipating for the worst scenario allows for a company to be prepared for things to go south. Despite this, you do not want to make the mistake of making false assumptions which can halt decision paralysis but be worse in the long run.
Companies should think from the inside out, starting with the inside of a concept called the “golden circle” and going outwards. The golden circle includes a central ring titled “WHY”, followed by a larger ring titled “HOW”, and a final outermost ring titled “WHAT”. This ensures the best success for the company in the long run, as it draws consumers in and keeps them there, while the other approaches allow for a less loyal customer base. Effective communication is about listening and not just speaking. It is necessary to listen to the desires of your target demographic to cater to them.

The Law of Diffusion of Innovation:

You can break people into 5 segments that fall across the bell curve.
Innovators
0 %
Early adopters
0 %
Early majority
0 %
Late majority
0 %
Laggards
0 %
This law predicts that if the penetration rate is between 15- 18%, mass-market appeal is achievable.
Sinek also believes that one of the most influential factors that contributes to a firm’s success is the company’s culture. Having a strong leader and forming a positive company culture allows for employees to feel genuinely committed the the WHY of the company. This is better longterm for not only the company’s success, but lends to strengthening innovation and collaboration as employees have a stronger desire to contribute to a business that they believe in.

Quotes:

It’s extremely important for individuals to be proactive about their work or personal growth in order to better their quality of life and Fertitta’s book is a great resource to begin on that journey. Other beneficial resources include Fertitta’s website: https://www.tilmanfertitta.com/ and

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