Jack - Straight From the Gut - Jack Welch  ## Metadata - Author: **Jack Welch** - Full Title: Jack - Straight From the Gut - Category: #books - Tags: #business ## Highlights - I wanted GE to become “the most competitive enterprise on earth.” My objective was to put a small-company spirit in a big-company body, to build an organization out of an old-line industrial company that would be more high-spirited, more adaptable, and more agile than companies that are one-fiftieth our size. I said then that I wanted to create a company “where people dare to try new things—where people feel assured in knowing that only the limits of their creativity and drive, their own standards of personal excellence, will be the ceiling on how far and how fast they move.” (Location 85) - There is no straight line to anyone’s vision or dream. (Location 98) - “You punk!” she shouted in my face. “If you don’t know how to lose, you’ll never know how to win. If you don’t know this, you shouldn’t be playing.” (Location 112) - And many of my basic management beliefs—things like competing hard to win, facing reality, motivating people by alternately hugging and kicking them, setting stretch goals, and relentlessly following up on people to make sure things get done—can be traced to her as well. (Location 120) - Confidence gives you courage and extends your reach. It lets you take greater risks and achieve far more than you ever thought possible. (Location 135) - Building self-confidence in others is a huge part of leadership. It comes from providing opportunities and challenges for people to do things they never imagined they could do—rewarding them after each success in every way possible. (Location 136) - There are no finite answers to many questions. (Location 312) - Winning teams come from differentiation, rewarding the best and removing the weakest, always fighting to raise the bar. (Location 404) - When people make mistakes, the last thing they need is discipline. It’s time for encouragement and confidence building. The job at this point is to restore self-confidence. I think “piling on” when someone is down is one of the worst things any of us can do. (Location 430) - Piling on during a weak moment can force people into what I call the “GE Vortex.” It can happen anywhere. You see the “Vortex” when leaders lose their confidence, begin to panic, and spiral downward into a hole of self-doubt. (Location 434) - arrogant people who refuse to learn from their mistakes have to go. (Location 441) - The best way to support dreams and stretch is to set apart small ideas with big potential, then give people positive role models and the resources to turn small projects into big businesses. (Location 462) - Problem was, no one wanted to pay $10.95 for a single light bulb, no matter how “green” or revolutionary, and our project failed. Instead of “punishing” those involved in the Halarc effort, we celebrated their great try. We handed out cash management awards and promoted several Halarc players to new jobs. While no one was happy with the results, we made a big point of rewarding the people on the team. We wanted everyone in the company to know that taking a big swing and missing was okay. (Location 465) - What made it work was a crazy band of people who believed we could do almost anything. We were scared to death but filled with dreams—and just nuts enough to try anything to get the plastic to work. (Location 505) - In early June of 1968, nearly eight years after joining GE, I was promoted to general manager of the $26 million plastics business. (Location 531) - I loved “constructive conflict” and thought open and honest debates about business issues brought out the best decisions. (Location 609) - I “kicked,” but I also “hugged.” (Location 616) - If I learned anything about making this easier, it’s seeing to it that no one should ever be surprised when they are asked to leave. By the time I met with managers I was about to replace, I would have had at least two or three conversations to express my disappointment and to give them the chance to turn things around. I would follow up every business review with a handwritten note. (Location 625) - I realized—more than ever before—how much my success would depend on the people I hired. (Location 733) - A résumé didn’t tell me much about that inner hunger. I had to “feel” it. (Location 745) - Once again I saw the benefits of acting like a small company. Giving the project visibility, putting great people on it, and giving them plenty of money continues to be the best formula for success. (Location 779) - I learned the importance of people, supporting the best and removing the weakest. (Location 816) - The clarity of No. 1 or No. 2 came from a pair of very tough questions Drucker posed: “If you weren’t already in the business, would you enter it today?” And if the answer is no, “What are you going to do about it?” (Location 1409)