Building Momentum with the Flywheel Effect

The Good Endeavor Business Show

Did you know that you can plan momentum into your future?

It’s called the flywheel effect.

The concept of a "flywheel" came from the book Good to Great: Why Some Companies Make the Leap...And Others Don't by Jim Collings. It refers to creating a strategy that gains momentum over time through consistent execution and reinvestment.

The key to an effective flywheel is identifying the core driver that will propel it forward, like the guest experience for a short term rental business. But once you know the core drivers, you also need to be mindful of how you’re feeding the flywheel for continued growth, such as reinvesting profits.

Bobby Herrington, Pastor, Ultra Marathon Coach and STR business owner, joins Mark today on the show for part 1 of a series on Leadership and the various ways in which it affects your business and life.

Tune in to understand how developing a strategic flywheel plan tailored to your specific goals and strengths is key to achieving sustainable success. And to adjust your vision to push you through even the toughest of challenges.

In This Episode:

00:00 Intro

01:26 What is a Flywheel

03:55 Flywheel strategy and what to do with profits

10:46 Why you need a vision for your flywheel to work

18:21 Using self awareness to design a flywheel for your life

And more!

Resources Mentioned

• Good to Great by Jim Collins - https://a.co/d/6JrApvt

Connect with Bobby Herrington:

• Instagram: https://www.instagram.com/bherringtonruns/

• Website: https://www.205endurance.com

• Facebook: https://www.facebook.com/bobby.herrington.792

Connect with Mark McDaniel:

• Website - https://staysimpli.com/

• Instagram - https://www.instagram.com/staysimpli/

• Facebook - https://www.facebook.com/people/Staysimpli/100088214988017/

• Twitter - ​​https://twitter.com/staysimpli

• TikTok - https://www.tiktok.com/@staysimpli