Showing posts with label Summary. Show all posts
Showing posts with label Summary. Show all posts

Sunday, July 31, 2011

Book Summary: "Leadership and Self-Deception, Getting Out of the Box" by the Arbinger Institute

Intrigued by the title for some time, this book came highly recommended by my colleague Pete Cracovaner of Pinnacle Resource Group. The only leadership book that I am aware of with this particular focus, the authors write that self-deception "determines one's experience in every aspect of life"...quite a contention.

Written as a parable, this book explores how we all view and treat others as objects to help us accomplish our goals (termed being "in the box") as opposed to viewing others as people, with their own hopes and dreams (being "out of the box"). Being "in the box" limits our ability to reach our full potential and betrays the basic obligation that we each have to see others as they are, as people. "Self-betrayal", an act contrary to what our sense is of what is appropriate and how we should be toward others, is the basis of self-deception. And when we are self-deceived, we 1) inflate others' faults, 2) inflate our own virtue, 3) inflate the value of things that justify our self-betrayal, and 4) blame others. "Self-betrayal is the germ that creates the disease of self-deception."

When we are "in the box" we see things in terms of the self-justifying images that we've created. We see people who challenge these images as threats and those who reinforce these images as allies. But regardless, we view others merely as objects, not as people. When applying these concepts to the workplace, it must be in the context of the point of all our efforts at work: to achieve results. Simply, we can't truly focus on results if we are "in the box" and focused on ourselves...we're too busy trying to get only our own results, not accomplishing what's best for the organization as a whole. Problems with being "in the box" include: lack of commitment, conflict, stress, poor teamwork, lack of trust, lack of accountability and communication issues.

To get out of the box, we should do our best to help others succeed and achieve results, whether personally or professionally. Success as a leader depends on being free of self-betrayal and creating an environment of openness, trust and teamwork, where people work hard for the collective good, not individual accomplishments. Like the authors write: "We can't really achieve results like we otherwise could if we're in the box." So, how often are you "in the box" toward others? And what critical few things can you work on right away that will help you achieve improved results?

JFD Performance Solutions ( http://www.jfdperfsolutions.com/ )
As a business coaching and consulting firm, we specialize in helping individuals to reach more of their potential, companies to achieve greater results, and teams to work better together. We help our clients implement sustainable change and be more successful.


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Book Summary: "Vital Factors" by Lee Froschheiser and Paul Chutkow

Subtitled "The Secret to Transforming Your Business - and Your Life," this book came highly recommended by my friend Markus Isenrich, president of the private equity firm Ferro Management Group. Vital Factors describes and promotes the use of the MAP (Management Action Programs) system to guide the transformation of a business or organization.

MAP is a detailed, comprehensive plan of action, designed to perform six critical missions simultaneously:

1. Teach business fundamentals

2. Pinpoint a company's Vital Factors

3. Ensure proper measurement and management of these Vital Factors

4. Establish a top-to-bottom system of goals and controls

5. Catalyze positive, ongoing changes throughout the company

6. Instill those virtues that turn good companies into market leaders

Vital Factors are "the critical elements that would either hold the company back or propel it to success" and enable the processes and tools to execute in the six basic functions of management: Leading, Communicating, Planning, Organizing, Staffing, and Controlling. Vital Factors are related to the Vital Few, the key drivers of the business and should be utilized based on an important MAP mantra: "The more tightly you control your people, the more you sap their power to succeed." One way to measure this is via a tool the author's term the Empowerment Pendulum where the organization rates itself on a scale where 1 represents High Control and 10 represents High Empowerment. How would your organization rate?

The authors also delineate some important lessons as related to an organization's Vital Factors:

Gathering accurate and timely financial information is critical.Teaching all levels of staff to understand - and manage - their Vital Factor financial information is also critical.It is essential for key management to agree on the financial Vital Factors to focus on and then to set monthly goals related to them.Holding monthly meetings to review the financial Vital Factors is also essential (although that is a discipline that many companies fail to maintain).

As you can see, an organization's Vital Factors are a critical element in every aspect of the MAP system. To better comprehend this it is important to review the three phases to MAP:

1. The Mechanics Phase. This is the how phase, when you and your team are just learning how to use the MAP system and tools. You are discovering the answers to questions like these: What is a Vital Factor? What is a goal and what is a corrective action? How do I prepare for my monthly Vital Factor Meeting? This phase is probably the most difficult, because everything is new, including MAP concepts and terminology.

2. The Enlightenment Phase. This is when your people get the hang of the process and it all starts coming together. They no longer ask, "How do I do that?" Now they ask, "Why?" In this phase your people push the process themselves and ask, "Why don't we measure this Vital Factor or focus on that fundamental; it directly affects profitability."

3. The Internalization Phase. This is the fun part, the who phase. This occurs when your team has totally internalized the MAP philosophy and operating system, accepting as ritual key elements such as Vital Factor Meetings, goals and controls, accountability and discipline, group brainstorming, strategic alignment, managing to your values, empowering your people, practicing candor, and instilling passion in your people.

In addition to business applications, MAP is a comprehensive system that can be applied at home and in the community. The authors write about applications in areas such as transforming the family business, improving your relationships, improving your parenting, grooming your successors, and many more.

As is often the case, an important step in achieving constant improvement and terrific results is to identify a system that works for you or your business. And if you want dramatic results, a system like MAP may be right for you.

JFD Performance Solutions (http://www.jfdperfsolutions.com/)

As a business coaching and consulting firm, we specialize in helping individuals to reach more of their potential, companies to achieve greater results, and teams to work better together. We help our clients implement sustainable change and be more successful.


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Book Summary: "Death by Meeting" by Patrick Lencioni

The book's subtitle is "A Leadership Fable" and it tells the story of a talented and fairly successful CEO who also runs terribly ineffective meetings, negatively impacting the business' performance and results. Lencioni, best-selling author of "The Five Dysfunctions of a Team," doesn't mince words about meetings, writing that "Bad meetings, and what they indicate and provoke in an organization, generate real human suffering in the form of anger, lethargy, and cynicism." That's a strong statement...but accurate from my experience. Think about how often you have stated "Wow. That was an awesome meeting!"

Likely far fewer than the number of times you have thought "That meeting was..." (fill in the blank: so awful, so boring, such a waste of time, etc.).

Meetings are frequently the antithesis of the compelling, productive, and fun activities that they need to be and should be, and the author contends that "bad meetings start with the attitudes and approaches of the people who lead and take part in them." To begin to make improvements we must understand that the real problem with meetings is two-fold: they are boring and they are ineffective.

First, meetings are boring because they lack drama, or conflict (the one element that is required to make any human activity interesting). Most leaders of meetings tend to focus on avoiding tension, strictly following the agenda (if there is one), and ending on time. Constructive conflict occurs only when subjects of impact are addressed and debated, allowing for varying opinions and perspectives to be expressed. A meeting leader must seek out and uncover any important issues about which the team members do not agree. Unless there is conflict and drama, the topics that are most important cannot effectively be evaluated. Employees are looking for a reason to care and the meeting leader needs to provide that. Lencioni writes that "the only thing more painful than confronting an uncomfortable topic is pretending it doesn't exist." How true!

Second, meetings are ineffective because they lack "contextual structure." Like a bad stew with too many random ingredients, every topic imaginable is typically fair-game for weekly staff meetings (for example). So with no clarity around what topics are appropriate to cover, there is no clear context for the various discussions that take place. Ineffective and unsatisfying meetings result. In the end, the author writes, "little is decided because participants have a hard time figuring out whether they're supposed to be debating, voting, brainstorming, weighing in, or just listening." To combat this, he recommends that the following "Four Meeting" structure be instituted around team meetings:

Meeting Type

Time Required

Purpose & Format

Keys to Success

Daily Check-In

5 - 10 minutes

Share daily schedules and activities.

Don't sit down.
Keep it administrative.
Don't cancel even when some people can't be there.

Weekly Tactical

45 - 90 minutes

Review weekly activities and metrics, and resolve tactical obstacles and issues.

Don't set agenda until after initial reporting.
Postpone strategic discussions.

Monthly Strategic
(or Ad Hoc Strategic)

2 - 4 hours

Discuss, analyze, brainstorm, and decide upon critical issues affecting long-term success.

Limit to one to two topics.
Prepare and do research.
Engage in good conflict.

Quarterly Off-Site Review

1 - 2 days

Review strategy, industry trends, competitive landscape, key personnel, team development.

Get out of the office.
Focus on work; limit social activities.
Don't over structure or overburden the schedule.

We typically complain about how much time we spend in meetings, but the real issue is that the meetings normally aren't very effective. When properly utilized, meetings can actually be time savers.

Bottom Line: For those organizations that can make the leap from painful meetings to productive ones, the rewards are enormous. Higher morale, faster and better decisions, and inevitably, greater results.

JFD Performance Solutions (http://www.jfdperfsolutions.com/)

As a business coaching and consulting firm, we specialize in helping individuals to reach more of their potential, companies to achieve greater results, and teams to work better together. We help our clients implement sustainable change and be more successful.


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Book Summary: "Thank God It's Monday" by Roxanne Emmerich

The author's subtitle to her book is "How to Create a Workplace You and Your Customers Love", and she addresses topics such as visioning, driving change, upping enthusiasm, and eliminating gossip. Emmerich's premise is that there are actually places where people wake up after a weekend and say "Thank God it's Monday", but that before these work places were great, most were quite awful.

The author contends that it all starts with people (doesn't it always!?). For a workplace to become great, the people have to want it to be great. I love her thought that "Most people spend their entire lives in unquestioned routines, never hearing the calling of how great they could be if only they refocused on making a profound difference through their work." While you go about your day, observe businesses with which you come in contact. Can you sense the teamwork and enthusiasm, or lack thereof? Usually it's noticeable...good or bad. What about your environment? What changes can you make that can have a positive impact? Imagine your workplace as one to which everyone is eager to come. List out three things that, if you were in charge, you would change. Then set about doing all you can to change those things. The author writes that "Leadership is not a position - it is a way of being. It's about being determined to make big things happen regardless of your position."

Many businesses have a vision, however, "the turning point for a vision is when everyone sees it, gets it, and buys into participating to make it happen." Vision statements are meant to provide a compelling picture of future success. Does every employee "get" your company's vision, live it, and strive toward it everyday? Your vision is your commitment to your employees, your customers, your investors, your community. Has every employee internalized the vision in this manner and do they know exactly how their efforts align with the vision and the key objectives of the business? The author challenges us to always ask ourselves, "Am I making the highest and best use of my time?" She suggests identifying the bottom 80% of your activities and replacing them with new activities. What a change that would be!

Emmerich offers that each employee should "lavish" praise on others at least five times a day, because gratitude and appreciation are the drivers of productivity. One way she recommends to promote these celebrations and to foster this type of culture is to create a Hoopla Team comprised of one executive and 6 to 9 high performers from around the organization. Their objective is to sustain and accelerate breakthroughs in performance and to get the culture change to generate from a grassroots level. Enthusiasm is a hard thing to fake, so get people on the Hoopla Team who really want to participate and make a difference. The ideas that a team like this can help identify are endless.

Companies thrive when employees appreciate one another's contributions and treat each other with respect. To help achieve this, the author suggests this code for how to treat one another: "No gossip. No excuses. No stories. No blaming." Fully adhering to this requires a culture of positive attitudes, openness, and willingness to change. As an example of how to enact this, the author takes a hard stance on gossip (rightfully so) and recommends the following steps to stop it: 1) Tell the people around you that you have zero tolerance for gossip. 2) If anyone starts to gossip, politely interrupt them and say, "Sounds like you need to have a conversation with..." 3) If you begin to gossip you need to stop yourself, go to the other person and say, "I apologize for hurting you by sharing something that was inappropriate. It won't happen again." Success is typically the culmination of thousands of acts such as this.

Although a fair amount of the author's ideas have been addressed in other books, she writes in an easy-to-read manner and includes suggestions and tips that are practical and well-supported by her first-hand experience. A key takeaway is that regardless of your current work environment and situation, there is hope. You can help turn a lousy situation into one where employees are truly glad to be at work and produce at a high level. TGIM!

JFD Performance Solutions (http://www.jfdperfsolutions.com/)

As a business coaching and consulting firm, we specialize in helping individuals to reach more of their potential, companies to achieve greater results, and teams to work better together. We help our clients implement sustainable change and be more successful.


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Book Summary: "Mr Shmooze - The Art and Science of Selling," by Richard Abraham

This book has been on my reading list for awhile. Then, its recent endorsement by commercial real estate broker-extraordinaire Peter Pessetto prompted me to act. "Mr. Shmooze" is the story of a man who lives his life and performs as a salesperson with the conviction that selling is not about "taking" or "persuading," but about "giving." Sometimes shmoozing (or schmoozing) has a negative connotation, as when a person acts kindly toward someone else in order to take advantage of them in some way.

However, in "Mr. Shmooze," it is the act of asking questions and listening in order to understand what people really need (not just in business, but in life) and then giving of yourself to help them. Energizing others, making them feel special, and adding value to people's day-to-day lives is what Mr. Shmooze is all about. He is constantly giving people special gifts and otherwise letting people know that he is thinking of them and cares about them. He gives more than he takes and has come to learn that, when he does this, he gets plenty back in return, both personally and professionally.

Since Mr. Shmooze is a very successful salesperson, there are numerous ideas and suggestions in the book of how to apply these concepts in sales. It shouldn't be surprising that Mr. Shmooze says "Most successful service providers succeed because of their ability to build relationships" and also that "it's all about adding value through your relationships." Mr. Shmooze contends that the only way to win in sales is to establish an intimate, personal relationship with the buyer and to be able to clearly explain how your product and service will benefit her. These are not new ideas. However, there is benefit in reading about these concepts in the context of how Mr. Shmooze applies them.

Mr. Shmooze believes strongly in the benefits of a positive attitude; imploring us to elicit positive emotion from others and to always end each "encounter" on a high note. Mr. Shmooze also believes that people base most of their decisions on two basic sensations: pleasure and pain. If others associate you with pleasure, you win! If they associate you with pain..."

As a sales manager, Mr. Shmooze states that "I want passion, guts, drive and enthusiasm. And I want someone who is in love with life, who loves people and who laughs hard and often." Someone who is truly optimistic and who really lives. Living is comprised of actions and behaviors, which are driven by feelings and emotions. So, ask yourself: since feelings and emotions are contagious, are mine worth catching? Mr. Shmooze pushes us all to do better in this regard.

His mission statement is that "the happier I can make myself, the happier I can make other people." An enviable perspective to have there, Mr. Shmooze.

JFD Performance Solutions (http://www.jfdperfsolutions.com/)
As a business coaching and consulting firm, we specialize in helping individuals to reach more of their potential, companies to achieve greater results, and teams to work better together. We help our clients implement sustainable change and be more successful.


View the original article here

Book Summary: "The "It" Factor" by Mark Wiskup

After more than a few folks recommended this book to me, I placed my Amazon order. In this book, Wiskup defines the "It" factor as "the remarkable ability to instantly create honest and powerful connections, in every meeting and every social interaction, every day." Quite a lofty goal! Not simply charm or the ability to say the right thing, having the "it" factor is about building connections...and it will pay dividends for you at work and at home.

To help build these connections, Wiskup recommends developing an agenda for every conversation. Part of that agenda entails making the effort to describe why others should care about what it is you have to say. Often, we gloss over this and take it for granted...at our own detriment. Those with "it" explain the purpose of their words, the reason for their communication. It's often not about being right, but about convincing others that you are worth listening to.

Wiskup includes many recommendations, such as being direct (but not abrupt), not rushing through your words and messages, and painting a picture with your words to help make your communications more poignant and descriptive. He also recommends dumping industry jargon, which often confuses and frustrates those not "in the know" and makes you look not like an expert "but an aspiring wannabe."

Wiskup details some common communication habits that really bug him as the killer Eight Deadly Sins:

1. Misuse of the word "Certainly". Don't say "We certainly are glad to be here today."

2. Use of the phrase "I don't see why not." This is neither direct nor strong, and will not assist in building strong relationships.

3. Use of "More than Happy" is more than creepy. Being happy is sufficient.

4. Saying "I am sorry" when you are not sorry.

5. Telling others you are being "honest." Such as: "Honestly...", "To tell you the truth...", and "Frankly...".

6. "I'm just saying..." means "I'm just criticizing you." Don't be critical but pretend you're not. Don't posture: if you have a something critical to say, say it directly and professionally.

7. Repeat often, just never point out that you are repeating. "As I said before" insinuates that they weren't listening. And maybe they weren't, if you haven't connected with them in a meaningful way.

8. "Basically" kills every sentence it touches. It's a worthless word that diminishes the weight and value of whatever you say that follows it.

The sections on perfecting your elevator speech contain plenty of good and bad examples, focusing on four main steps:

1. Describing your business using non-jargon words

2. Focusing on how you serve your customers

3. Focusing on overcoming challenges that your clients are facing

4. Recounting a successful customer experience

To wrap up, Wiskup offers up the "It" Factor Five-Step Implementation Program:

1. Cleansing yourself of the communication sins

2. Mastering meetings and making them less dreadful and more fulfilling

3. Learning how to "wow" someone with your elevator speech

4. Making small-talk connections become second-nature

5. Delivering both a heartfelt compliment and a criticism in a natural, comfortable manner

For each of these five steps, he lists the goal, your assignment, recommended actions, and how to grade your progress.

So, are you worth listening to? If you are lacking in your ability to communicate well, connect with others, and build meaningful relationships, then I recommend working on the suggestions in this book. Do this and improve your chances of having "it."

JFD Performance Solutions (http://www.jfdperfsolutions.com/)

As a business coaching and consulting firm, we specialize in helping individuals to reach more of their potential, companies to achieve greater results, and teams to work better together. We help our clients implement sustainable change and be more successful.


View the original article here

Book Summary: "Change or Die" by Alan Deutschman

Talk about a book title that grabs your attention! Quite a few friends and colleagues have recommended this book to me over the last couple of years, in part because they know that meaningful change is difficult to achieve for so many people. The basis for the title "Change or Die" is that numerous studies have found that upwards of 9 out of 10 people don't change their lifestyles and behaviors... even when their lives depend upon it.

Subtitled The Three Keys to Change at Work and in Life, the book asks the question, "Could you change when change matters most?" It is a fact that five behavioral issues drive the large majority of the health care budget in the United States. They are too much smoking, drinking, and eating. Too much stress and not enough exercise. If potentially only one out of every ten people can change our behaviors, even in a crisis, then what hope do any of us really have?

Deutschman suggests that there is a way to effect meaningful, sustainable change but, as we have pointed out, most people (groups, organizations, companies, etc.) miss the mark. People and organizations change all the time, however the author doesn't focus on how people change on their own. His main topic is "how to change when change isn't coming naturally; when the difficulties stubbornly persist. When you're stuck."

The First Key to Change

RELATE: You form a new, emotional relationship with a person or community that inspires and sustains hope. The leader or community has to sell you on yourself and make you believe you have the ability to change. They have to sell you on themselves as your partners, mentors, role models, or sources of new knowledge. And they have to sell you on the specific methods or strategies that they employ.

The Second Key to Change

REPEAT: The new relationship helps you learn, practice, and master the new habits and skills that you'll need. It takes a lot of repetition over time before new patterns of behavior become automatic and seem natural - until you act the new way without even thinking about it.

The Third Key to Change

REFRAME: The new relationship helps you learn new ways of thinking about your situation and your life. Ultimately, you look at the world in a way that would have been so foreign to you that it wouldn't have made any sense before you changed.

These are the three keys to change: relate, repeat, and reframe. New hope, new skills, and new thinking.

Why is it that even though people spend billions of dollars every year to change and improve, yet so often they still fail to realize their goals? Deutschman contends that "the reason isn't that they don't want to change or can't change but rather that they don't understand change or have the right tools to effect it."

People often make two of the most common mistakes when they try to motivate others to change their behavior: they rely on fear and facts. Fear may work; but often only for a brief time. And people are frequently in denial and can't handle the facts, even when they confront the facts and clearly understand them. Challenges abound in getting people to, first, understand that they need to change. Then to appreciate how to change (what they need to do). And finally, to actually do it. No wonder most New Year's resolutions fall by the wayside so quickly.

Enablers of Change

Deutschman discusses some important enablers of change, such as:

Our beliefs, formed through repeated experience over time, can usually be reshaped only by experience. Change needs to be experienced and short term wins achieved in order to gain the momentum required to drive more significant and lasting change.A great commitment to change. Meaningful change does not come easily. Be prepared to work hard at accomplishing your goals.The power of community and culture. Don't go it alone. Invite others into your plans and activities. Leverage their power, knowledge, support and experiences. Involve yourself with those you trust and who can help you achieve change; not those who will hinder you.

Change can occur even when you're stuck. But you must be purposeful in your approach, your attitude, and your activities. Otherwise you might end up as one of the nine in ten who don't change, even when it is imperative that you do. All the best on your journey!

JFD Performance Solutions (http://www.jfdperfsolutions.com/)

As a business coaching and consulting firm, we specialize in helping individuals to reach more of their potential, companies to achieve greater results, and teams to work better together. We help our clients implement sustainable change and be more successful.


View the original article here

Book Summary: "Zapp! The Lightning of Empowerment" by William C Byham

Zapp! is not a recent book. In fact, it was written 21 years ago. But its concepts about employee empowerment hold up very well in today's challenging work environment.

Employee motivation is often a difficult idea to truly grasp, yet alone to influence and leverage. Yet, if companies are to continuously improve, as is necessary for survival and success, everyone in the organization needs to be engaged. Byham writes that people with this engagement (those who are "zapped") have "responsibility, a sense of ownership, satisfaction in accomplishments, power over what and how things are done, recognition for their ideas, and the knowledge that they're important to the organization." It is important to understand that this engagement in constant improvement can not be imposed or forced on employees (termed being "sapped"); it is only fully achieved by empowering them.

Do these characteristics describe your workplace?

- Management talks about doing a better job and only gets blank stares in return.

- Hardly anyone get excited about work and everybody does just enough to get by.

- Whenever management tries to motivate employees, the results are mixed and short-lived.

- The general attitude is: Don't do anything you don't have to do. Then do as little as possible.

- Nobody cares about improvements; they're all afraid of change.

If so, then your employees need to be "zapped." Zapp is a force that energizes people.

Have some of these techniques and "programs" been tried in your organization?

- Pep talks

- Job enrichment

- Quality circles and work teams

- Suggestion systems

- Participative management

- More training

- And lots of other programs

If so, then your employees need to be "zapped." Zapp is a key to success for new ideas and programs. Zapp is the giving of power, while Sapp is the taking of power.

There are three steps of Zapp:

1st Step of Zapp: Maintain Self-Esteem. Help employees feel confident and satisfied in the work they do.

2nd Step of Zapp: Listen and Respond with Empathy. Understand their needs and concerns, and don't assume that you know what they are.

3rd Step of Zapp: Ask for Help Solving Problems. Involve your employees in solutions. Seek ideas, suggestions, and information.

And the three steps lead to the Soul of Zapp: Offer Help without Taking Responsibility. Managers need to be there for their employees, being supportive and providing encouragement and help, but without taking the employees' work on themselves or micro-managing them.

For Zapp to work, people need:

1. Direction, consisting of key result areas (the directions we want to go), measurements (ways we know we are moving in the right direction), and goals (something to tell us if we're there yet).

2. Knowledge, including job skills, training, information, and specific goals.

3. Resources, such as tools, materials, facilities, and money.

4. Support, including approval, coaching, constant feedback, and encouragement.

It's easy to "sapp" people. But having Zapped! employees is difficult: it takes time, energy and a belief that the organization is only as good as its people. If you truly desire continuous improvement and the opportunity to reach your loftiest goals, your organization needs to get Zapped!

JFD Performance Solutions (http://www.jfdperfsolutions.com/)
As a business coaching and consulting firm, we specialize in helping individuals to reach more of their potential, companies to achieve greater results, and teams to work better together. We help our clients implement sustainable change and be more successful.


View the original article here

Book Summary: "Choosing to Cheat: Who Wins When Family and Work Collide", by Andy Stanley

With such an intriguing title, I quickly accepted this book from Lyn Adams, my friend and financial advisor. Choosing to Cheat is about establishing priorities, making choices, and work-life balance...with an intended bias toward the life side. As the founding pastor of North Point Community Church in Atlanta, Georgia, the author uses his religious beliefs and the teachings of the Bible to help explain and support his message. He writes that both family and work are vital parts of our lives, but that you can't absolutely choose one over the other. Therefore, you can only find true contentment when you align your priorities between the two.

For the author, "choosing to cheat" refers to "the decision to give up one thing in order to gain something else." Using this definition, everybody cheats and by extension, everyone gets cheated. The challenge is to "cheat" without making people feel cheated. But this isn't about being deceitful; cheating at work has nothing to do with cheating your employer. It's about "reallocating your limited time according to your predetermined priorities". Openly discuss your desires and your difficulties balancing life and work, and figure out a way for your family, friends, employer and co-workers to not feel cheated.

Since more than anything else, your work and your family define your sense of identity, a collision between the two is only natural. The issue, the author states, is that there is just not enough time in the day to give all that is required and to get everything done at both work and home. Therefore, we often run from "fire to fire, troubleshooting our way through life." But that's no way to live. You do your job and you love your family. If we reverse the order (do you live to work or work to live?) then tensions escalate and a tug-of-war ensues.

When you choose work over family, you send the message that work is more important. There may be seemingly valid reasons for this choice, and you may believe that your family understands, but you don't really know unless you are openly discussing it with them and frequently gauging their feelings. If you don't, then small problems could grow into large ones. Your primary role and concern should be for your family. Stanley writes that you are expendable at work (everyone is, really) but you're not expendable at home. Only you can be the mother, father, wife, husband. You have this unique role and responsibility.

So how do you go about balancing life and work? The author suggests that, first, you make a decision to quit cheating at home. Unless you decide to do this and commit yourself, nothing is going to change. Making up your mind to change provides you with momentum and focus. Second, be specific about what you want to achieve: the results that you desire. Ask your family, for example, what schedule changes they would love to see you make. This leads to the next point which is to involve others. Don't go about this on your own. Talk to your family. Speak with your boss. Be flexible, not demanding, Provide options, not ultimatums. Be willing to test and try different changes to see what works best. But address the issue directly; otherwise your results won't be all that you want.

Making difficult choices forces prioritization and prioritization can drive better performance in those preferred areas. The author suggests a Thirty-Day Challenge to improving your work-life balance, and offers a study guide to help with the materials in his book. So if you're looking to make a change in how you "cheat", give this book a read.

JFD Performance Solutions (http://www.jfdperfsolutions.com/)
As a business coaching and consulting firm, we specialize in helping individuals to reach more of their potential, companies to achieve greater results, and teams to work better together. We help our clients implement sustainable change and be more successful.


View the original article here

Book Summary of "The No Complaining Rule" by Jon Gordon

The No Complaining Rule is based on the premise that, when it comes to building a positive work environment, there are much more subtle and far more dangerous problems than "jerks" (these are people who are easily identified and should be dealt with quickly). The far more dangerous employees are those whose negativity is less obvious...growing and spreading largely unnoticed.

Complaining is a common form of this negativity and comes from people that the author terms "energy vampires" who spread negativity, adversely affecting morale and job performance. However, the author's goals for this book are not to eliminate all complaining, merely mindless, chronic complaining and to turn justified complaints into positive solutions. The outcome would be to leverage the positive effects of being positive and minimize the harmful effects of being negative.

Poor communication and lack of information, common problems in business, sow a ripe field for negativity. And where there is a void, negativity will typically fill it. It's human nature to worry, assume the worst and act accordingly. Thus negativity and complaining frequently result. The author quotes some research regarding the cost and impact of negativity:

Negativity costs the U.S. economy between $250 and $300 billion every year in lost productivity (The Gallup Organization)Ninety percent of doctor visits are stress related (the Centers for Disease Control and Prevention)The #1 cause of office stress is coworkers and their complaining (Truejobs.com)Negative emotions are associated with: Decreased life span and longevityIncreased risk of heart attackIncreased risk of strokeGreater stressLess energyMore painFewer friendsLess success

Complaining is easy to do and often makes us feel better. Many psychologists even say that it is healthy to vent - a common form of complaining - but they're wrong! Complaining is often merely an outlet for negative thoughts and attitudes...destructive to ourselves and annoying to those around us. Football coach Lou Holtz captured it simply when he said, "Don't complain. Eighty percent of the people you complain to don't care and 20 percent are glad you have problems."

The book states that the two main reasons people complain are 1) because they are fearful and helpless and 2) because it has become a habit. But, as we know, changing habits isn't easy. And regarding changing bad habits, someone once said that "What we need the most we resist the most." In this parable, to decrease negativity and help diminish the harmful effects of complaining, the company implemented a "no complaining rule" whereby employees were not allowed to mindlessly complain to their coworkers. If they had a problem or complaint, they were encouraged to take the issue to their manager or someone in a position to address it. However, as a requirement of the process, the employee also had to share one or two possible solutions to their complaint. Thus, when someone did have a complaint, the company looked to use it to their advantage, as a catalyst for positive change and not merely as a release of negative energy.

Gordon writes that "Positive energy flows from the top down in most organizations, and the best way to deal with negativity is to create a positive culture where it can't breed, grow and survive. Otherwise you spend all your time fighting negativity rather than cultivating a positive culture." Need something to do instead of complain? Gordon offers some alternatives such as practicing gratitude, praising others, focusing on success, and letting go of what you don't have the power to change.

Abraham Lincoln once said, "A man is about as happy as he chooses to be"...and drastically reducing mindless complaining can have a tremendously positive impact on your happiness, your morale and your job performance. So give it a try: forbid yourself from negativity and mindless complaining for a whole day and see how you do. Then share the exercise with your family, friends and colleagues.

JFD Performance Solutions (http://www.jfdperfsolutions.com/)

As a business coaching and consulting firm, we specialize in helping individuals to reach more of their potential, companies to achieve greater results, and teams to work better together. We help our clients implement sustainable change and be more successful.


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Sunday, July 17, 2011

Free Book Summary - How to Be a Billionaire Written by Martin S Fridson

How to Be a Billionaire - Proven Strategies from the Titans of Wealth- Written by Martin S. Fridson

This book looks at the titans of wealth. It was published in 2000 so you won't see some of the new money from Google and Facebook in here but the principles are the same. Whenever you can leverage thoughts from such an elite group of people, it is worth it to take the time to study it.

Quick useless trivia stats to put in perspective how much a million, billion and trillion really are - If you were to count that amount of money and assume that you count $1 dollar every second then here is how it works out:

1. It would take you 12 days to count $1,000,000 dollars.

2. It would take you 32 years to count $1,000,000,000 dollars.

3. It would take you over 32,000 years to count $1,000,000,000,000 dollars.

Let's not even discuss the U.S. debt. I guess we should make all the politicians sit in the room and count until they hit it. It may be a more productive use of their time since they get so much done now!

Why is this important to me? This book may not be important to you for good reasons. It takes huge sacrifice to become a billionaire. These titans of wealth are the elite of money making humanity. This takes work. If you think of the best professional athletes then you will understand the dedication it really takes. Muhammad Ali started boxing at 10 years old and practiced his whole life. Boxing was his life's passion and it took that type of dedication to be the best. He did not just step in the ring one day and become the best. It took him years of self-sacrifice, dedication and sweat equity to get it done. The same is true for all the Billionaires profiled in this book. On the other hand, there is great knowledge to be used if your goals are big but maybe not that big. Let's say you want a more balanced life then you can still use these principles to make a ton of money and garner security and the good things that money can buy without pouring all of your time in the endeavor. The principles you will see in this book take OPM, OPE and OPT to the extremes. I have talked about these concepts in other summaries. It is interesting how you see the same principles pop up in profiling success.

This book is packed with 9 principles used by different people to become billionaires. You may or may not agree but the data is conclusive on their success. I will touch on all of them but dig into the top 3 in more detail

1. Take Monumental Risks- "Fortune assists the brave" - H.L Hunt and John Kluge bankrolled their fortunes at the poker table. These men learned more about deals and money gambling then they did in traditional university. John borrowed $5000 from the bank and only used $1000 of it and then sold the business for $500,000. When he told the bank, the comment was "that is some leverage" - He asked - What is leverage? Years later he was sorry he asked. He amassed his fortune in Radio and LBO's (Leveraged Buyouts)

2. Do business in a new way - Sam Walton and Ross Perot both saw weaknesses in the market that they exploited. They built a culture of execution and market dominance. Wal-Mart may be the first company in history to generate $1 Trillion in revenue. This will summarize everything - According to Ross Perot - "The first EDSER to see a snake kills it. At GM, first thing you do is organize a committee on snakes. Then you bring in a consultant who knows a lot about snakes......Then you talk about if for one year." This is why Perot left GM after selling EDS to them.

3. Dominate your market - John D. Rockefeller and Bill Gates. Both were highly successful and dominated everything they touched. Both men created enemies and people ALWAYS questioned their tactics. With that aside you can't deny what they accomplished. They played to win. The story of Microsoft is one of shear dominance in the market. Gates exploited a whole and created an entire industry out of thin air. People questioned that Monopoly power that Microsoft had and they would be correct in pointing it out. This should be a goal of any entrepreneur - CONTROL YOUR MARKET. If you cannot be in the top 3 in your market then you need to get out of it. Gates lead Microsoft with razor sharp focus and expected the best. He leveraged his strength to branch into other profitable software markets. He read the encyclopedia cover to cover by age 11. You cannot deny his intellect.

4. Consolidate a market - This strategy does create billions of dollars but you need to be careful because most market rollups end in disaster. Read Billion Dollar Lessons. When you do it right like Wayne Huizenga of Waste Management then you create Billion dollar companies and market capitalizations. The key here is if you have two average companies and meld them together then you have one big average. This is not the way to do it. You have to execute and drive a culture of innovation to succeed with this method.

5. Buy Low - Warren Buffett, Carl Icahn, Lawrence Tisch and J. Paul Getty all used this strategy to amass fortune. Warren Buffet always wants to buy $1 and pay 50 cents. This is one secret to his magical fortune. When you dig in you will see he uses the right instruments to do this. He uses Insurance companies to buy whole or controlling interests in companies. This is brilliant because he can use the "Float" or OPM, the tax advantages of the entity and sound financial leverage. How can the little guy use these principles? I recommend checking out my summaries of Robert Kiyosaki's books. He talks about the same concepts but more in tune for the little guys.

6. Thrive on Deals - This is simply love of the game. You see this all the time when you study these billionaire magnets. The key is execution and the ones that are successful do not do deals for the deals sake. This is for all the other idiots that you can read about in the book summary Billion Dollar Lessons.

7. Out manage the competition - First and foremost, hire the right people. Be diligent at doing this. Microsoft used to take out ads that said - "We recruit the best and brightest only." They would give them difficult problems in the interview and tell them "Solve it". They ripped them to pieces before they hired them. This set the tone for the people that did get hired and they made no mistake about the culture. Sam Walton and Richard Branson also use positive reinforcement and entrusting people with a lot responsibility to out manage the competition.

These last two I will not spend any time on because for the other 95% of us we cannot do this and it clouds the game regardless

How to be a billionaire is a simple road map to how the titans of business use certain strategies to amass fortunes. There is nothing better than investing a couple of hours and sucking out the knowledge of 300 man years of billionaire knowledge. This is, in my humble opinion, the best way to use leverage. That is OPE - leverage other people's expertise and use it for your own gain and to better society.

I hope you have found this short video summary useful. The key to any new idea is to work it into your daily routine until it becomes habit. Habits form in as little as 21 days.

One thing you can take away from this book is to buy low. This is probably the easiest thing to do. Invest the same way you buy groceries and good things will happen. One really good deal can have big effects.

I was really lucky in my business; we merged with a company that was going to be dissolved by a much bigger entity. We picked up the company for pennies and added to our team 3 professionals that will enhance us 10 fold. Be patient and keep your eyes open. "Luck favors the prepared mind."

Joe Mosed invites you to subscribe to http://www.successprogress.com/ to receive free video book summaries. Our vision at Success Progress is to provide relevant & meaningful content to our user community. To view the video summary of this article please visit http://www.successprogress.com/videos/billionaire

(c) Copyright - Joe Mosed / Success Progress All Rights Reserved Worldwide.


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Free Book Summary: How to Buy and Sell a Business By Garrett Sutton

This book is part of the Rich Dad Advisor family. This is a HOW TO: on Buying and Selling a Business. As part of the Rich Dad philosophy the goal is to create wealth. One excellent way to do that is through a business. Business's, by far have the most potential for wealth creation than any other means. Once your business is successful then you can hold your money in Real Estate. Garrett dives into more details and I will share my personal stories of success and ass chaffing's as well.

Why is this important to me? As you may know, I ask this question as if I am sitting in your shoes. Am I investing my time in learning or burning 6 minutes on crap? So with that enlightening philosophy here is why this book is important.

1. Businesses create wealth - Have you ever heard of Domino's Pizza? The original founder of that company was an orphan by the name of Tom Monahan. The legacy continues with Domino's being in every major country in the world. The amount of wealth and economic value created is vast.

2. Businesses fail - You need to get educated on real world pitfalls because the odds are against you when you start a business from scratch. 90% of Businesses fail in the first 5 years and 90% of the 10% fail in the next 5 years. Without financial education, you will get your ass kicked.

Why Buy a Business?
1. Cash Flow - A successful business generates monthly cash flow. As you know, cash flow is everything. Think about blood in your body. When it stops flowing, you die. The same holds true in business. Strong cash flow allows you to compound the business value and create more growth.

2. OPM - There is nothing better than creating an infinite return. When you sell something for $100,000 and make a big profit that is great but when your customer sees a $500,000 savings from your offering that is even better.

3. OPE /OPT- Usually when you start out in business, it is in the S - Quadrant of the cash flow quadrant. This means you have effectively created yourself a job. Where the real growth comes in is when you can recruit and lead people behind your cause. Once that happens then you learn to multiply your companies effectiveness because you are leveraging OPE & OPT (Other people's expertise and time)

4. Tax Advantaged - With a business, you are able to generate income, pay all your expenses and then pay your taxes. The government sets it up this way because they know that business is the key to a successful economy. If you are an employee then you generate income, pay your taxes and then pay your expenses. There is at least a 30% difference in the two approaches. That is a big compound deal over time.

As you can see, a business affords many benefits. I will highlight some of the tools that Garrett outlines in the book and then go off on a tangent and talk about different business ideas and why some businesses are much better than others.

How to Buy and Sell a Business is packed with great information. This really is a HOW TO so I suggest you read it if you are buying or selling a company. For the sake of time, I will touch on three areas.

1. Team- Your team and the depth of your bench will dictate your success. Do not be pennywise and pound foolish with stuff. You need a good CPA, Lawyer and coach. If you look at the best football teams, they have strength, endurance and tactical coaches for every position on the field. They have to work together to win the Super Bowl. The organization with the best TEAM will always achieve more than the one super star with an army of pawns. Think of TEAM as TOGETHER EVERYONE ACHIEVES MORE.

2. Agreements- These are very important when buying and selling a business. Things like NDA's, Confidentiality and NON-COMPETITION agreements are critical in the evaluation stages of any business venture. Once a deal is in progress then you want to be familiar with Asset Purchase Agreements, Stock Buy Back agreements and Consulting Agreements. These all make a difference on how you structure the deal and affect taxes for both parties. Another detail you want when you BUY a business is a performance clause. I purchased a company and looked at the maintenance revenue and offered a fair price. Come to find out the person I was dealing with was not honest with the numbers. In the first three months, half the revenue was NOT realized and because I did NOT put a performance clause in the agreement, I received everything but the kiss. Needless to say I had to bust my ass to break even on the deal and then grow it.

One bad deal like this can cause a ton of stress and problems so GET EDUCATED!!!!!! I rather have you learn from my mistakes instead of making them.

3. Financials- These are a business's report card. You need to be able to read financial statements and dig into the areas and ask a TON of questions. This is important because financial shenanigans can be hidden really well in a pretty financial statement. Cases in point, Enron, Tyco, WorldCom and I.O.U.S.A!!!!

There are different types of businesses and some are stronger than others. Warren Buffett is a big believer in easy businesses. He rather have a great business that can succeed with average management then a really hard business that needs a magician to make it work. This is why he invests in food companies like SEES Candy and Dairy Queen and NOT in car companies like GM. There are two differentiators here. One is moat which is competitive advantage and the other is capital investment. Every other year, car companies have to plow all their investment into the next car model. Dairy Queen simply needs to invest in more cash producing assets or give the money to their owners. If you are looking to go into business, spend some time on business types. I will profile more of these in future tutorials.

Real World Examples

1. If you hate paying too much for something then you will hate my two stories. There is an old saying in poker that if you don't know who the idiot at the table is then you are the idiot. Well in two cases, I really screwed up in purchasing businesses. The first business I purchased was 15 years ago (I am still paying it.) The mistakes I made here were several:

1. I did not get a real valuation of the company.
2. I had no idea how to read financial statements.
3. There was a real estate component to the deal and I did not value that.
4. I was way too excited to get the deal done - emotional bliss can lead to intellectual bankruptcy.
5. I was the tuna negotiating with sharks. All of these things were my fault. My second fiasco was the deal I talked about earlier where I did not put a performance clause in the contract. This was a huge debacle. These were my two highlighted DUMB ASS moments. They were both MY FAULT!!!!

2. I never like to end a review on a bad note so I will profile some good stuff. I purchased an IP (Intellectual Property) company for 10% of revenue. This is unheard of in the software world. This deal came out of the blue and the team we acquired is excellent. The lesson here is that if you are looking to buy a company, call on really large companies that are spinning off divisions. The best deals I have ever gotten are from big publicly traded companies that need to get assets off the books at the end of a quarter. I have done this twice and it is like buying dollars for $.10 cents. Think about it. If you have a company that does a billion dollars in revenue, do they care if they sell a company for $50,000 or $200,000? Not really, this does not even make a blip on their financial statements. If I can impart any advice, it would be to look for these types of opportunities. These can make you feel like a Magnificent Genius but real world business has a way of punching you right I the forehead so never keep your head in the clouds.

There is a ton of great resources in Garrett's book. I recommend highly the Appendix sections if you are buying or selling your business. Another key differentiators as well would be to approach a big company. The amount of money you will pay or receive is night and day. If somebody wants me to buy their business, I am going to negotiate hard on the price but if they go to a large company, an extra zero means nothing to them. Keep this in mind.

I hope you have found this short video summary useful. The key to any new idea is to work it into your daily routine until it becomes habit. Habits form in as little as 21 days. One thing you can take away from this book is ask questions. This is probably the best advice because the area the book covers generates questions. Also, trust your gut. If something seems to go to be true then it is.

Joe Mosed invites you to subscribe to http://www.successprogress.com/ to receive free video book summaries. Our vision at Success Progress is to provide relevant & meaningful content to our user community. To view the video summary of this article please visit http://youtube.com/successprogress

(c) Copyright - Joe Mosed / Success Progress All Rights Reserved Worldwide.


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Wednesday, July 13, 2011

The Paper Chase Summary

The novel written by John Jay Osborn Jr. titled The Paper Chase was a fictional story about the experience of students within American law schools. There is no actual trial scene in the book and no cases are analyzed so the legal issues discussed are all on successfully maneuvering through law school. Hart is the main character and he is a first year law student at Harvard which is one of the most prestigious institutions in the world. He is the central character that all the other human issues are related to.

There are three main relationship dynamics and I will deal with each of their human and legal issues before moving on to the next significant relationship. Professor Kingsfield was the longest professor tenured at Harvard Law School at the time Hart took his contracts course from him in his first year. Harts perceived relationship and classroom performance with Professor Kingsfield was the central focus of his first year in law school and the issues that arise are surprisingly interconnected with the next two relationship dynamics.

The second relationship dynamic that Hart had to deal with was his fellow students who he formed a study group of six to help each other outline their courses for the final exams. Between the group of them there was an array of human issues that altered their paths through school.

Finally there were Harts different love affairs that ended up dominating his thoughts and sapping up much of his valuable time during his first year in law school. Even Harts affairs were connected to some of the most crucial issues he was facing in school.


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