If you’ve seen business or marketing plan decks, chances are you’ve encountered the Flywheel concept first hand. Maybe you even use the term yourself. The flywheel is a great concept. If you can develop one, you’ve really got something. The challenge, in my experience, is getting it right. What is a flywheel? Like any good business term, this one originated elsewhere. It’s actual definition is: Aside from “momentum”, there’s not much to this definition that helps us understand the flywheel’s current usage in business. What we’re looking for is the term coined Jim Collins, author of Good to Great . Here’s a better explanation: Source: Best From the Brightest: Jim Collins's Flywheel (Inc.com) The relevant words are: “a self-reinforcing loop made up of a few key initiatives.” Emphasis on “few” (more on this below). To put it simply, a flywheel consists of different initiatives that feed one another. One feeds another, that feeds another, and eventually they lead back to the start....
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