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June 30, 2004

Get Good People

Filed under: Human Resources/Organizational Development — Todd Sattersten @ 11:08 am
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Kevin Kelly at Cool Tools reviews Hiring Smart by Pierre Mornell, Regan Dunnick, and Kit Hinrichs (Ten Speed Press, 1998).

He pulls great excerpts out of the book. Here is my favorite:

You can’t spend too much time or effort on “hiring smart.” The alternative is to manage tough, which is much more time consuming.

This made me think of a post Rob at Businesspundit put up on Monday. It was called Managing Those Who Don’t Want to Change.

[via Just Looking]

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Expanding the Portfolio

Filed under: Publishing Industry — Todd Sattersten @ 8:39 am
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I keep mentioning how Portfolio is the hot imprint. Here is another sign. Geoffery Moore (Crossing the Chasm, Inside the Tornado) will be doing his next book with Adrian Zackheim and Portfolio. The name of the book will be DARWIN AND THE DEMON: Enabling Innovation and Overcoming Inertia in Established Enterprises. It won’t be out until late 2005.

[via The Marketing Playbook]

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Lots of Books

Filed under: General Management — Todd Sattersten @ 8:22 am
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If you read the July issue of Fast Company, it will be hard for you not to notice the number of books mentioned.

  • “In Listening to Starbucks” [p50-56], Alison Overholt goes to Geoffery Moore (Crossing the Chasm) and Adrian Slywotzky (How to Grow When Markets Don’t) for quotes.
  • “How Do I Love Thee” [p64-65] is a two-page advertisement for Lovemarks.
  • Keith Hammonds spends some time with Douglas Smith and his Book On Values and Value (we posted the index) in “We, Incorporated” [p67-69]
  • There is a feature article on Whole Foods Market called “The Anarchist’s Cookbook” [p70-78]. CEO John Mackey changed the purchasing policies of his companies based on a number of books including Peter Singer’s Animal Liberation. FC Bureau Chief Charles Fishman says “In the course of an hour’s conversation, [Mackey will] quote from the management theories of Ryan Matthews and Watts Wacker’s The Deviant’s Advantage, the demographics book Millennials Rising, Somerset Maugham’s novel The Razor’s Edge, and J.R.R. Tolkien’s Lord of the Rings.”
  • Rowe Furniture used Fast Track to Waste-Free Manufacturing: Straight Talk From a Plant Manager by John W. Davis to help redesign their production plant. The plight of the Rowe is detailed in “When Couches Fly” [p80-81].
  • Ryan Underwood writes “The Fable” about business book fables. You will find The One-Minute Manager, Who Moved My Cheese?, Fish!, The Present, and The Art of Profitability all make an appearance.
  • In the Back to School feature, FC features The Stanford University course “Leading Change and Organizational Renewal”. If the $10,500 course fee is a little steep, you can get instructors Charles O’Reilly and Michael Tushman’s book Winning Through Innovation: A Practical Guide to Leading Organizational Change and Renewal.
  • July’s Reader’s Choice is The 5 Paths To Persuasion by Robert Williams and Gary Williams with Alden Hayashi (Warner Business, April 2004).
  • The September Reader’s choice nominees are
    • Finding Fertile Ground by Scott Shane (Wharton, August 2004)
    • Heads Up by Kenneth McGee (Harvard Business School Press, April 2004)
    • Learning to Love Africa by Monique Maddy (HarperBusiness April 2004)
    • Organized for Success by Stephanie Winston (Crown Business, August 2004)
    • Why People Buy Things They Don’t Need by Pamela Danzinger (Dearborn Trade, July 2004)
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The Partnership Charter

Filed under: Small Business,Start-ups — Todd Sattersten @ 8:16 am
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I have run across a great book. It happened quite unexpectedly. Jack sent me another box of books to look at and asked me to look at one in particular (mainly because of peristant calls from some PR folks). I wasn’t very impressed with the cover art and the title The Partnership Charter didn’t blow me out of my seat.

I opened the book anyway and started to read the first chapter called “The Rewards and Risks of Going Into Business Together”. These three points struck me as I read through:

  1. “Researchers from the Center for Study of Entrepreneurship at Marquette University investigated a sample of nearly two thousand companies and categorized the top performers as ‘hypergrowth’ companies and those at the bottom as low growth companies. Solo entreprenuers founded only 6% of the ‘hypergrowth’ companies. Partner founded a whopping 94%, and many of those had three or more founders.”
  2. “In a poll taken a few years ago, Inc. asked businesspeople if they thought partnerships were a bad idea. Two-thirds of the respondents said they were. When asked why, the majority said they disliked co-ownership because of the partners’ ‘inevitable conflicts’ and ‘unmet expectations’.”
  3. “Business school could teach students how to minimize the risk of partner disputes, but they do not. They are schools of business administration. They teach students how to run large companies. Although they have started to do a better job of teaching students how to be entrepreneurial , they teach next to nothing about how to be a partner…Because most business schools’ graduates who start their own businesses will have real partners some day, the school’s neglect is hard to fathom. But business schools are not the only schools with this gap in their curriculum. Medical schools train physicians without regard to the fact that the vast majority of their graduates will have to struggle sooner or later with partners. The same is true of other professional schools.”

I think all of three of those are very compelling points. Entrepreneurs have a better chance of being successful if they partner with others, but many don’t even consider it because of the potential problems. On top of that, there is no place where people are trained to work together well as partners.

That is where The Partnership Charter comes in. Author David Gage talks about everything from roles and titles to ownership issues to the importance of understanding personal styles. The most important chapter in my mind is one on scenario planning. Gage lays out questions that would be easy for one entrepreneur to answer, but could be a nightmare for three or five people to agree on. What happens if one partner hires a key employee whom the other partner(s) dislike(s)? What happens if the company receives an unsolicited buyout offer from a competitor? What happens if the partners decide to close the business and the company has nothing but debt?

I recommend this book for all entrepreneurs. After reading the book, I think more people will consider partnerships and if they do, The Partnership Charter will give them a blueprint for creating a successful one.

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June 29, 2004

DEMOLetter Summer Reading II

Filed under: Lists — Todd Sattersten @ 9:08 am
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Chris Shipley continues the summer reading list in this week’s DEMOLetter:

  • Now, Discover Your Strengths by Marcus Buckingham, Donald O. Clifton
  • Orbiting the Giant Hairball: A Corporate Fool’s Guide to Surviving With Grace by Gordon MacKenzie
  • Quicksilver by Neal Stephenson
  • The Confusion by Neal Stephenson
  • Unstuck by Keith Yamashita and Sandra Spataro
  • The Innovator’s Solution: Creating and Sustaining Successful Growth by Clayton M. Christensen, Michael E. Raynor
  • Free Prize Inside: The Next Big Marketing Idea by Seth Godin
  • Pattern Recognition by William Gibson
  • Re-Imagine! by Tom Peters
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The 8th Habit

Filed under: Personal Development — Todd Sattersten @ 9:02 am
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On November 9th, Stephen Covey is releasing a follow-up to his mega-bestseller 7 Habits to Highly Effective People. The book will be called “The 8th Habit”. Here is a couple of paragraphs from the press release issued by Free Press this morning:

Covey’s new book comes at a profoundly different time in history than when THE 7 HABITS OF HIGHLY EFFECTIVE PEOPLE was originally published. The challenges and complexity we face in our personal lives and relationships, in our families, in our professions, and in our organizations are of a different order of magnitude. We are struggling to feel engaged, fulfilled, and passionate across all areas of our lives. Tapping into the higher reaches of human genius and motivation-to find what Stephen R. Covey calls our voice – requires a new mindset, a new skill-set, a new tool-set…a new habit. THE 8th HABIT is the path to finding that voice and one’s passion.

“I’ve not felt such passion, such conviction or excitement since my work on THE 7 HABITS OF HIGHLY EFFECTIVE PEOPLE,” shares author Stephen R. Covey. “I believe the reason the response to the new ideas in THE 8th HABIT has been so strong is that people feel a void in their lives. This same emptiness is felt in organizations across the world, most of which struggle to achieve their top priorities. People don’t feel their unique talents are tapped or appreciated. Bottom line- there is a profound yearning in both people and organizations to find their true “voice,” to matter, to make a difference, to find greatness.”

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June 28, 2004

Jack Covert Selects–Alexander Hamilton

Filed under: Jack Covert Selects — Jack @ 4:03 pm
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Alexander Hamilton by Ron Chernow, Penguin, 832 pages, Hardcover, April 2004, ISBN 1594200092

Its a stretch, I know. Picking a historical biography as a Jack Covert Selects. But Im doing it anyway. Alexander Hamilton is already a bestseller. And of course Ron Chernow writes superbly, enlightening us with so much detail that it makes this book hard to put down from any perspective, whether it be historical, economical or political. I like it because Alexander Hamilton wasnt just one of the founding fathers of America. He was the founding father with a difference. Controversial. Visionary. He was also a great businessman. A blueprint of a man all businesspeople should study. The book describes it much better than I can:

When it came to the parallel economic upheavals of the period – the industrial revolution, the expansion of global trade, the growth of banks and stock exchanges Hamilton was an American prophet without peer.

Although faced with many adversities, he was an excellent businessman who made the right choices. And even when he didnt, he took misfortune in his stride and recovered quickly. He might not have been president, but he was the founder and chief advocate for the market economy, and the first treasure secretary.

From a business book perspective, we can learn so much from him. He led a life of passion, which is clearly demonstrated in his economic endeavors. So many things that Alexander Hamilton did centuries ago still applies today. I want to share them with you as reminders and as homage to him:

  • He understood the importance of technology. When most people were focused on agriculture, he saw the need for industrialization. This inevitably led to the American Revolution.
  • Alexander Hamilton was willing to learn: The scientific revolution in Europe encouraged him to make the same changes in America. He actively recruited the specialists for several industries, like the cotton and textile industry, himself.
  • Believe in yourself. His ideas got shot down all the time, but he just kept on trying different ways to see his plans come to fruition.
  • Honor and fortitude. Hamilton didnt use his influence to bail out a friend who was in financial ruins due to a stock market crash, but rather told him to act with honor and fortitude. Enough said.

Lets all raise our glasses to Alexander Hamilton. What a guy! And what a book.

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DEMOLetter Summer Reading

Filed under: Lists — Todd Sattersten @ 2:50 pm
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Chris Shipley’s recent DEMOletter listed a set of titles that polled tech executives were reading.

  • A Short History of Everything by Bill Bryson
  • Managing by Harold Geneen
  • Moneyball: The Art of Winning an Unfair Game by Michael Lewis
  • Beyond the Core: Expand Your Market Without Abandoning Your Roots by Chris Zook
  • Getting to Great: Principles of Health Care Organization Goverance by Dennis Pointer and James Orlikoff
  • Execution: The Discipline of Getting Things Done by Larry Bossidy and Ram Charam
  • Built to Last and Good to Great by Jim Collins

[via Dana and Wisconsin Technology Network]

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My Secret Fantasy

Filed under: Misc. — Susan RoAne @ 1:12 pm
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No, it doesn’t involve entering the Indy 500 or walking the Red Carpet bedecked in Jewels. Or even inventing a new technology that would have me the envy of the tech world. I have loved the concept of blogging since it began. But, alas and alack, I felt I had neither the techie skills nor the outlet for my Irreverent RoAne not -so- secret side.

Thanks to Jack Covert, who has been so dear, gracious and supportive, my fantasy is now a reality. The idea of sharing ideas and learning of others from a community of my choice and one that I respect, is so appealing. 800CEOREAD is a treasure in so many ways and the blog op is just one more jewel in the crown.

How did I learn about Jack and 800CEOREAD? As you would suspect, as a result of a conversation with an author friend who is open, helpful and a great networker… Robert Spector. When he tells me to ‘check something out’ I do! That’s what friends are for!

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More Reviews of Free Prize

Filed under: Marketing — Todd Sattersten @ 9:13 am
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The Miami Herald’s Business Monday Book Club has posted their latest reviews. This month they read Seth Godin’s Free Prize Inside. Writer Richard Pachter also wrote a more extensive review for the newspaper.

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