TIME

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This post is in partnership with Inc., which offers useful advice, resources and insights to entrepreneurs and business owners. The article below was originally published at Inc.com.

In previous posts, I’ve described what smart bosses believe, what smart bosses know about people, and the words that smart bosses never say. This piece describes the specific strategies I’ve observed CEOs apply inside the most consistently successful companies:

1. They encourage diversity of thought.

Smart CEOs build organizations in which a diversity of opinion and background produce alternative approaches to solving problems and building opportunity.

Average CEOs build organizations in which everyone looks and thinks the same way. This reduces conflict but results in a brittle organization that can’t adapt.

2. They sacrifice their cash cows.

Smart CEOs realize that a successful product becomes obsolete even while it’s still selling well. As a result, they kill off and…

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