WINNING BY JACK & SUZY WELCH

Key Concepts for Dominating the Field

• The Power of Candor: Welch calls candor the "dirty little secret" of winning. Most companies waste time being "nice" or vague. Real winning starts when people are brutally honest about what’s working and what’s failing.
• The 20-70-10 Rule (Differentiation): This is Welch’s most famous (and controversial) strategy. You must ruthlessly differentiate: reward your top 20% (the stars), develop the middle 70%, and let go of the bottom 10% who are holding the team back.
• The "Work-Out" Culture: Winning requires stripping away bureaucracy. Welch advocates for a culture where the people closest to the work have the power to suggest and implement changes immediately.
• Hiring for the "Acid Test": It’s not just about resumes. Welch looks for the 4-E's and an L: Energy, Energizing others, Edge (the courage to make tough calls), Execution, and Passion (the "L" for Love of the game).
• Finding Your "Aha" Strategy: Strategy isn't a 100-page document; it's a living, breathing direction. It’s finding the one "big play" that gives you a sustainable competitive advantage and executing it like crazy.
• Crisis Management: No one wins all the time. Welch provides a 5-step framework for handling disasters: assume the problem is worse than it looks, assume there are no secrets, and assume you will survive.
• The "Work-Life Balance" Myth: Welch is blunt—there is no such thing as a perfect balance, only "work-life choices." You have to decide what you’re willing to trade to reach the top.

Are you ready to stop being "polite" and start being candid? What is the one truth in your business right now that everyone is thinking but nobody is saying?