Maximize Success: The Bullet vs. Cannonball Approach in Business

Name: Maximize Success: The Bullet vs. Cannonball Approach in Business
Uploaded: 2023-10-11T11:17:26+00:00
Duration: 38 s
Channel: Jason M. Lemkin
Description: Jim Collins' "fire bullets, not cannonballs" means testing new products or markets with small, cheap experiments first. Hire a few salespeople or run a…

11 Oct 2023 · 1 min

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Jim Collins' "fire bullets, not cannonballs" means testing new products or markets with small, cheap experiments first. Hire a few salespeople or run a modest campaign before betting big. Past wins don't guarantee the next one will work.

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And there's a great way to think about this. So there's a famous author in business named Jim Collins. He's written Good to Great, like some of you might have read his books. And he has this great quote, fire bullets, not cannonballs. And the basic idea is when you have something new you're thinking about, it's like a new product, a new go-to-market, maybe you're, maybe you're going to sell in a new region, fire a bullet, meaning make a small experiment. Hire 2 sales reps or 3. Spend $100,000 on marketing, right? Don't assume that just because you've got a lot of success in your first business, you can just go immediately into this next business. Fire a bullet, not a cannonball.