If your company disappeared, would it leave a gaping hole that could not easily be filled by any other enterprise on the planet?

Get the right people on the bus, the wrong people off the bus, and the right people in the right seats...

If I were running a company today, I would have one priority above all others: to acquire as many of the best people as I could. I'd put off everything else to fill my bus. Because things are going to come back. My flywheel is going to start to turn. And the single biggest constraint on the success of my organization is the ability to get and to hang on to enough of the right people.

The critical question is not whether you'll have luck, but what you do with the luck that you get.

The main point is first get the right people on the bus (and wrong people off the bus) before you figure out where to drive it. The second key point is the degree of sheer rigor in people decisions in order to take a company from Good to Great.

Level 5 leaders are fanatically driven, infected with an incurable need to produce sustained results. They are resolved to do whatever it takes to make the company great, no matter how big or hard the decisions.

It's what you do before you are in trouble, so that you can be strong when people most need you.