Using the Hedgehog Concept to Find Your Business Sweet Spot

Do The One Thing and Do It Well

 

In Good to Great, Collins uses the  Walgreens company as a perfect example of a company that finely changed its focus and outperformed the stock market by more than 15 times from 1975 to 2000. The changes there were driven from the inside out.

Charles “Cork” Walgreen III the owner of Walgreens transformed the lackluster company by getting rid of their over 500 restaurants and re-focusing their entire business on becoming the most convenient drug store with the highest purchase per customer level. It was a very emotional decision for Charles because Walgreens invented the malted milk shake, his grandfather had first started off in the food service business, and some of the restaurants Walgreen dumped included those named after him, Corky’s.

But Walgreen was also so determined. He gave his team only five years to accomplish the task. When after six months, no progress had been made at all, he informed his team they now only had four and half years. Then, they really got busy. With their narrowed focus, there are now more Walgreens outlets than there are of the ubiquitous Starbucks outlets . Walgreens now offer drive-through and 24-hour pharmacies even in not-so-great neighborhoods, passport photos, flu shots on demand, affordably priced milk and bread, all designed around their focus of customer convenience.

Collins calls this the “Hedgehog” concept, doing the " one thing " and doing it well. In his book Good to Great, he draws on the parable of the clever, devious fox and the simple hedgehog. The fox keeps coming up with new ideas to eat the hedgehog, but the hedgehog defeats him every time by doing his one trick: rolling into a thorny ball, that thwarts the fox every time.

The concept describes the intersection of three answers: What can you be the best at? What are you passionate about? What can actually make you a profit? The "one thing" answers all three criteria.

This exercise can also be used by young people trying to find their way in life, find their personal hedgehog, just as much as a business trying to figure out what purpose they serve.

Do The One Thing and Do It Well



1


Comments


Do One Thing And Do It Well News

Sep
07

2010-09-07

Sep
06

Oakland Mayor's Race: Don MaCleay, Don Perata, Tax Increment Financing - San Francisco Chronicle (blog)

2010-09-06
Oakland Mayor's Race: Don MaCleay, Don Perata, Tax Increment FinancingSan Francisco Chronicle (blog)I think if the Forums had more policy questions like that one, Jean would do better than she has. Councilmember Quan's a really bright and well-considered ...and more »
Sep
06

Maddon advocates balanced schedule - MLB.com

2010-09-06
Maddon advocates balanced scheduleMLB.com"I didn't do that well, but it doesn't matter what you do personally, it's about what you do as a team," Hawpe said. "It was a great experience and ...Soon-to-Be Free Agent Carl Crawford May Not Fit Into Rays' Future PlansNESN.comYouth movement helps Sox thrash RaysNECNSeries lacks buzzBoston HeraldMLB.comall 349 news articles »
Sep
06

Ravens upgrade receiving corps by signing Houshmandzadeh - Kansas City Star

2010-09-06
New York Daily NewsRavens upgrade receiving corps by signing HoushmandzadehKansas City StarHe's very talented, and I'm sure he'll do really well." Clayton did not return phone calls from The Baltimore Sun. Players were surprised to hear that the ...What's not to like about Housh?Baltimore Sun (blog)Do The Ravens Now Have The Best Receiving Corps In The NFL?The Ebony Bird (blog)Ravens notebook: Clayton set for fresh startCarroll County Timesall 554 news articles »
Sep
06

The Holdout, in Darrelle Revis's Words - New York Times (blog)

2010-09-06
Globe and MailThe Holdout, in Darrelle Revis's WordsNew York Times (blog)The one thing I tried to do was just to keep working out and stay in shape, so whenever I got that call, I was going to be ready to go and I'd be ready to ...Darrelle Revis: Thank Woody Johnson, Rex Ryan for Signing Revis, Saving Season!Bleacher ReportDarrelle Revis covers all angles for JetsBoston Heraldall 1,393 news articles »
Sep
06

MLB Playoff Teams Beware: Cincinnati Can Go To World Series - Bleacher Report

2010-09-06
Bleacher ReportMLB Playoff Teams Beware: Cincinnati Can Go To World SeriesBleacher ReportThe Reds do one thing better than any NL team, and that's hit. They lead the NL in team Batting Average, Runs Scored, and OPS. This helps make up for their ...and more »
Sep
06

Private Education Loan Consolidation – One Thing You Must Do ...

2010-09-06
Several bulky banks perform comprise a student loan consolidation program. representing example, Wells Fargo, next NextStudent do all the rage the student loan market. Sallie Mae campaign headed for start off submission private consolidation loans soon. ... with you'll comprise headed for indication a number of papers. ensue positively you get how countless payments you comprise headed for make, as well as how a great deal the payments are. One entity You obligation Do ...
Sep
02

Pursued by a Bear » If you only do one thing this weekend …

2010-09-02
If you only do one thing this weekend … Laurence Mackin. We thought we'd put this week's selection out slightly earlier than usual, and you'll find it contains no mention of a certain festival in a field. If you are attending said festival, ... The catalogue and it's 3D imagery is well worth the €2.50 as a souvenir as well. Trinity College Dublin. Free, until Sept 11th. Listen: the Hugh Lane has just announced an excellent series of talks for September and it is kicking ...
Mar
23

Do one thing, and do it well [Tip: The CLR wrapper for a ...

2010-03-23
Do one thing, and do it well [Tip: The CLR wrapper for a DependencyProperty should do its job and nothing more]. Delay. 23 Mar 2010 9:54 AM. Comments 5. Tip. The CLR wrapper for a DependencyProperty should do its job and nothing more ...
Aug
27

Just Do One Thing

2010-08-27
My husband lives by this motto of focusing on one thing and doing it really well…we collide at times because of this… I want to do it all. right. now! And well, of course it took an online article to get me to see my husband is right! ...
Oct
31

Lookout: Do one thing and do it well « Xobni Blog

2006-10-31
Adam and I have studied Lookout closely since we started Xobni. Lookout did one thing, and did it well: indexed search for Microsoft Outlook. Outlook users were disappointed with Outlook's search feature; they downloaded the Lookout ...
Sep
06

@peteonrails @elight bad question. why doesn't rails have a process monitor built in? or a database? do one thing and do it well.

2010-09-06
@peteonrails @elight bad question. why doesn't rails have a process monitor built in? or a database? do one thing and do it well.
Sep
06

If I had to I would do this whole weekend all over again and I wouldn't change a thing...well maybe just one but thats about it

2010-09-06
If I had to I would do this whole weekend all over again and I wouldn't change a thing...well maybe just one but thats about it
Sep
06

Wot, wot WOT?: ... 'Well - one thing that I do know is that the local schools will be coming to use it and - anyth... http://bbc.in/bkzgQE

2010-09-06
Wot, wot WOT?: ... 'Well - one thing that I do know is that the local schools will be coming to use it and - anyth... http://bbc.in/bkzgQE
Sep
06

@Buta_cup If there is ONE thing I can do well and with ease, it is pray :)) We are going!!

2010-09-06
@Buta_cup If there is ONE thing I can do well and with ease, it is pray :)) We are going!!
Sep
05

@Tallyto22 If there's one thing I do really well, it's cut the cheese and--oh, that didn't come out right. Hmm. This is a problem.

2010-09-05
@Tallyto22 If there's one thing I do really well, it's cut the cheese and--oh, that didn't come out right. Hmm. This is a problem.