What is the hedgehog concept?
The hedgehog concept describes how the world is divided into two: the hedgehog and the fox. The fox is tricky and smarter when attacking; it can come up with many ways to attack. The hedgehog, on the other hand, uses the same trick to attack. It rolls into a ball with spikes pointing in all directions.
Even though the fox is smarter and uses more tricks, the hedgehog will always win.
The story is applicable in your life and business in three spheres.
Successful companies know one thing and stick to it, years and years to come. Companies and people who fail and go bankrupt have many ideas therefore they lack consistency. Understanding is key.
The concept is in three spheres.
What are you deeply passionate about?
You can only remain focused on and suffer for your passion.
If you are not passionate you honestly cannot make it, great passion is the first step to success.
Great companies focused on ideas that ignite their passion it maybe the mission statement and focus on them to create great companies.
Know what you could be the best in the world at and equally understand what you possibly can’t be the best in the world at.
Note what you hope or aim to be the best at. What, with a little help, could you be the best in the world at?
For example, Julius Yego ‘the you tube athlete’ found what he could be the best in the world at. He got a few pointers from YouTube and now he is now a world champion.
Be curious enough to want to know more and enhance your knowledge. Don’t TRY to be interesting, instead be interested to learn.
What drives your economic engine?
Most great companies discovered a single driving denominator as profit per x, which had the greatest impact on their economics. For the social sector, instead of economics, the resource engine can be broken into three parts: time, money, and brand.
For any startup company the main thing is getting the right people on board and the wrong people off.
The hedgehog concept is the deep understanding of the three concepts. It takes years for one to complete the circles. Looking deeply at the hedgehog concept you may evaluate your passion or core purpose.
You possibly do not need to be in a great company to produce great results. – Jim Collins.