In the latest book by Jim Collins, How the Mighty Fall, Collins carefully outlines how great, thriving organizations can quickly and dramatically fall from prominence.

While he spends a lot of time outlining what he calls the “Five Stages of Decline”, I was particularly motivated by his thoughts on what those who fall, and then recover, have in common.

I certainly want to understand how to avoid a fall in the first place. (Or should I say, avoid any more “falls” than I’ve already experienced!) But since it’s a given that stumbling and falling down is a necessary and inevitable experience of life…I’m motivated by examples of those who get back up and recover.

Here are some excerpts from How the Mighty Fall that I found of particular interest:

Xerox. HP. Nucor. IBM. Merck. Texas Instruments. Pitney Bowes. Nordstrom. Disney. Boeing. What do these companies have in common? Each took at least one tremendous fall at some point in its history and recovered…in every case, leaders emerged who broke the trajectory of decline and simply refused to give up on the idea of not only survival but ultimate triumph, despite the most extreme odds.

The signature of the truly great vs. the merely successful is not the absence of difficulty. It’s the ability to come back from setbacks, even cataclysmic catastrophes, strongter than before. Great nations can decline and recover. Great companies can fall and recover. Great social institutions can fall and recover. And great individuals can fall and recover. As long as you never get entirely knocked out of the game, there remains hope.

The path out of darkness begins with those exasperatingly persistent individuals who are constitutionally incapable of capitulation. It’s one thing to suffer a staggering defeat–as will likely happen to every enduring business and social enterprise and (individual) at some point in its history–and entirely another to give up on the values and aspirations that make the protracted struggle worthwhile. Failure is not so much a physical state as a state of mind; success is falling down–and getting up one more time–without end.

Mr. Collins couldn’t have put it any better. So I have nothing to add.

I want to address something that lurks in the wings, waiting to suck you in…and it’s a real productivity killer: Perfection-ism Syndrome.

“I can’t do the next thing until this task is just right!” If you find yourself saying this, you’ll have a really hard time being efficient and productive.

Successful entrepreneurs must be able to juggle multiple tasks and while the details are important, getting it “just right”…doing things “perfectly” will slow progress and hold you back.

Consider these tips, they’ll help you get real about the Perfection-ism Syndrome:

 Tip #1: You’ll never do it perfectly. Nobody does anything perfectly. But you can do things very well. You can do great work, you can do your very best…and that’s all that’s required to make real, measureable progress.

Tip #2: Accept the fact that you have to complete steps simultaneously. There will always be at least 2 or 3 three things happening at once. You’ve got to be able to move from one task to the next without being afraid that one of the steps wasn’t done perfectly. A trusted advisor or coach can give your work the second look, the added perspective that will shed light on some obvious changes that can be made. Even then, it won’t be perfect!  

Tip #3: Do good, quality work and your inevitable imperfections will be forgiven. When you focus on quality and trust the methods of experts who have already “been there” you can rest assured that your efforts will be well received by your target market.

So remember, there’s really no such thing as perfection in business. You’ve got to manage multiple tasks, and focus on quality.

You’ve got permission to be less than perfect. Trust me, imperfection is a hallmark of a great entrepreneur!

In business you’re flooded with information from marketers and experts.

Some of it piques your interest but eventually you simply get stuck staring at all of it; “Is this the right thing to do next, or is that the right thing?”

That’s Paralysis Analysis! And before you know it, hours, days, even weeks can go by and you’re still stuck in the exact same place—nowhere.

The truth is, analyzing information creates a “feeling” of work and it creates the illusion of progress when it’s really just another insidious form of procrastination.

So, here are some important tips that can help you bust out of Paralysis of Analysis:

Tip #1: Unsubscribe from those unnecessary lists, set inbox rules, and find an expert who can answer your questions quickly. Limit your information influx and you’ll have a lot less stuff to analyze!

Tip #2: Don’t over-think your business, keep it simple. I don’t mean to oversimplify things here, but remember that building a marketing plan around your business consists of a few key concepts—a validated “niche” idea, a strong and effectively written offer/message, a proven strategy for building your own list or distribution, and the ability to execute the plan. So, focus on grabbing insight on those key concepts but don’t get sucked into spending hours and hours analyzing every possible approach to doing these things—pick a technique, confirm it with a coach or expert—then Get To Work!

Tip #3: Get To Work! That’s right, nothing moves you out of being stuck in paralysis quicker than getting moving…just start doing it! You’ll learn more and gain expertise faster than you can by reading more stuff and “thinking about” it. In the words of those killer athletes over at Nike, “Just Do It!”

Analyze yourself for a minute. Are you spending more time studying and contemplating information more than you’re actually doing real work? If so, you’re stuck in Paralysis of Analysis.

It’s time to get moving! Go get to work!

In 1998, I listened to James Paramore give a speech entitled, “Life Will Be a Challenge.” In that talk, he re-told a true account about a school teacher who was following up on a summertime assignment by asking her students what important lessons they were taught about self-reliance during their summer vacation.

After several accounts of “lessons learned” were shared, she asked Johnny what lesson he had learned. Johnny replied. “Well, my dad taught me how to swim.” “Fantastic, Johnny. That’s a great thing to learn.” “Yeah,” Then he continued, “He took me out in the middle of a lake, and he just threw me overboard, and told me ta swim back to shore.” “WOW!,” the teacher said. “That took a lot of courage.” “Yes it did,” Johnny said, “but it wasn’t all that bad once I got myself out of that darn gunnysack!”

Well, I got a chuckle out of that little story—that was about 11 years ago and it struck me pretty powerfully at the time, because I’ve actually felt like that before—sort of stuck in that gunnysack, trying to swim to shore—especially back then when I was just venturing out as an entrepreneur.

I’ve felt like that when I was trying to launch my very first company in 1992. I felt like that when I was trying to figure out how to take a company to the next level after Venture Capitalists invested millions in my company. I’ve felt like that while trying to figure out the latest marketing method, copywriting technique, or blogging strategy. I’ve felt like that at many different stages while trying to sort through the avalanche of business information that’s out there…

Maybe you’ve struggled in a similar way? Maybe you’ve struggled to decide on a business concept. Maybe you’ve struggled with Internet Marketing, raising capital, finding a partner, purchasing a business, managing cash, or changing your business model. Perhaps, you’ve struggled to really learn how to become as successful in your business as some of those great entrepreneurs that we’ve all watched and admired from a distance.

You know, those who are the true Masters of Business have figured out what really works and then went out and did it. They didn’t focus on the fact that they were out the middle of the lake, stuck in a gunnysack. They focused on how to get out and get moving.

I want to know what you are doing right now, to wrestle your way “out of that gunnysack”?

Are you up to the challenge of business?

Will you sink or swim?

My friends at Early To Rise (Agora Learning) have a lot of great tips and advice about life and business.

Recently, Michael Masterson wrote about Productivity and outlined, “4 Things You Can Do to Give Yourself Lots More Time to Be Lots More Successful.”

Phew! It’s a mouthful, but I thought his simple suggestions were useful and interesting:

“…this article is about stealing time for yourself. So I am going to make a number of suggestions to help you find more time to invest in your future health, wealth, and happiness… if you are willing.

Limiting Your Shower to Two-Minutes

I know how much you like to stand under the hot water and soak. I know how it relaxes you. But spending 15 to 30 minutes a day in the shower (as many people do) wastes a ton of water and time.

Save the planet. Improve yourself. Take shorter showers.

Amount of time you will save by taking short showers: 79 to 170 hours a year

Eating at Your Desk 

I used to like hour-long business lunches. Then I got smart and started eating at my desk. I eat lunch at a restaurant two or three times a month. That’s it. And it’s always social. Never business.

Instead of letting vendors treat you to a fancy meal, let them spend their lunch money on giving you better prices.

Bottom line: Business lunches don’t save time. They waste time! And money. Eat at your desk.

Amount of time you will save by eating at your desk: 250 hours a year

Insisting on Very Short Meetings

I figure about 80 percent of all the hour-long business meetings I have ever had need not have taken more than 15 minutes. Moreover, 50 percent of the multi-day business retreats I’ve attended could have been done in a day or a half-day.

Business meetings are like basketball games. Players spend most of the time throwing the ball back and forth while the score stays close. It’s only in the last 10 minutes that they get serious and really play to win.

If you plan them well, you can significantly reduce the time you spend in meetings. Well-planned meetings have the following characteristics:

·                     They focus on a single topic.

·                     That topic is expressed concisely before the meeting in a short memo.

·                     The meeting is conducted by someone who encourages ideas but cuts

off digressions and pushes toward solutions.

·                     The right people are there - never more than seven.

Time you will save with 15-minute meetings: 75 hours (assuming 100 meetings a year)

Answering E-Mails Efficiently

I answer e-mails only once a day - at the end of the day. This saves me tons of hassles and passels of time. Why? Because three-quarters of the 100 e-mails I get every day are other peoples’ concerns. It’s much better for them, and more time-efficient for me, if I let them solve their own problems.

When I do answer e-mails, I make my answers short and to the point. When I have something difficult or negative to say, I don’t use e-mail because it can cause confusion that results in lots of extra e-mails to clear up. Positive comments can be made very quickly. And if something can’t be explained quickly, I do it in person or on the phone.

Every once in a while - maybe twice a year - I ignore my rule and start the day by doing e-mail. And I have noticed that when I do that, it takes a lot longer. That’s because in the morning I feel like I have plenty of time and tend to write longer answers when shorter ones will do. I have actually tracked the time it takes me to do e-mail both ways. When I start in the morning, it takes about 90 minutes to get through 100 e-mails. When I wait till the end of the day, it takes between 45 and 60 minutes.

Time you will save by answering e-mails for only 45 minutes a day: 185 hours (assuming you check e-mail 250 days of the year)

The Impressive Total

Tally it up. I’ve just shown you how you can save 589 hours a year, at the very least. That is the equivalent of more than 14 40-hour work weeks!

Think of all the things you could accomplish with an extra 589 hours each year. Then make the changes and get going”

Amen.