Book Short: Must-Read for CXOs
Lead Upwards: How Startup Joiners Can Impact New Ventures, Build Amazing Careers, and Inspire Great Teams, by Sarah E. Brown, is an amazing book – and one that fits really well with our Startup Revolution series, in particular our book Startup CXO.
I kept thinking as I was reading it that it was the other side of the proverbial coin…that Startup CXO was about the details of each executive job in a company…but Sarah’s book is about the things common to ALL executive jobs – how to get them, how to succeed at them, essentially how to BE an executive. I read it front to back in a single day one weekend and loved it.
Some of the most insightful moments in her book are:
- Why big company executives who join startups often struggle
- How to get promoted by proactively doing the next job – act “as if” – while still excelling at your current job
- The importance of managing to the CEO’s preferred work style (personally…I’d debate this – I think CEO’s should manage to their CXOs’ work styles or at least make it a two-way street, but her point is very valid!)
- Why executives shouldn’t just up and quit with “two weeks’ notice” but that executives also need to be mentally prepared to be shown the door when they resign
- The importance of getting your hands dirty and not being “above” doing the work of your team
- Mastering the art of data-driven storytelling
Sarah quotes a number of CEOs throughout the book who I know and respect, from Nick Mehta at Gainsight to Mindy Lauck at Broadly. It was fun to read the book and see a number of very familiar names in it along the way.
Sarah and I did an interesting format – sort of a “dueling fireside chat” about our respective books on a webinar last fall. We had a fantastic conversation that could have gone on for hours. If you’re an executive – or an aspiring executive – you should go read her book.
Book Short: Great Marketing Checklists
Book Short:Â Great Marketing Checklists
Trade Show and Event Marketing: Plan, Promote, and Profit, by our direct marketing colleague Ruth Stevens, is hardly a page-turner, but it is a great read and well worth the money for anyone in your B2B marketing department. That’s true as much for the event marketing specialist as the marketing generalist.
The author brings a very ROI-focused approach to planning and executing events – whether big trade shows or smaller corporate events, which are becoming increasingly popular in recent years for cost, focus, and control reasons. But beyond events, the book has a number of excellent checklists that are more general for marketers that I found quite useful both as a reminder of things we should be doing at Return Path as well as ways we should be thinking about the different elements of our B2B marketing mix.
Some of the best tables and charts include: strengths, weaknesses, and best applications of trade shows vs. corporate events; comparative analysis of marketing tools by channel (this was great – talks about best applications for all major tools from events to newsletters to search to inside sales); 12-month exhibitor timeline for trade shows; a great riff on bad booth signage vs. good booth signage (hint: don’t make the visitor do the work – be obvious!); business event strategic planning grid; pre-show campaign and post-show follow-up checklists; dos, don’ts and options for corporate events; a great section on qualifying and handling leads that extends well beyond trade shows; and several good case studies that are show-focused.
Thanks to Ruth herself for an autographed copy! Team Marketing and sales leaders at Return Path – your copies are on the way.
Book Short: It Sounds Like it Should be About Monkeys, Doesn’t It?
Book Short:Â It Sounds Like it Should be About Monkeys, Doesn’t It?
The Long Tail, by Chris Anderson, is a must-read for anyone in the Internet publishing or marketing business. There’s been so much written about it in the blogosphere already that I feel a little lame and “me too” for adding my $0.02, but I finally had a chance to get to it last week, and it was fantastic.
The premise is that the collapsing production, distribution, and marketing costs of the Internet for certain types of products — mostly media at this point — have extended the traditional curve of available products and purchased products almost indefinitely so that it has, in statistical terms, a really long tail.
So, for example, where Wal-Mart might only be able to carry (I’m making these numbers up, don’t have the book in front of me) 1,000 different CDs at any given moment in time on the shelf, iTunes or Rhapsody can carry 1,000,000 different CDs online. And even though the numbers of units purchased are still greatest for the most popular items (the hits, the ones Wal-Mart stocks on shelf), the number of units purchased way down “in the tail of the curve,” say at the 750,000th most popular unit, are still meaningful — and when you add up all of the units purchased beyond the top 1,000 that Wal-Mart can carry, the revenue growth and diversity of consumer choice become *really* meaningful.
The book is chock full o’ interesting examples and stats and is reasonably short and easy to read, as Anderson is a journalist and writes in a very accessible style. You may or may not think it’s revolutionary based on how deep you are in Internet media, but it will at a minimum help you crystallize your thinking about it.
Book Short: Intentionality in Life
I haven’t done short book summaries in a LONG time, but I’ll try to start adding that back into the mix as I read interesting and relevant books. Here’s one to add to your list: One Life to Lead, by Russell Benaroya. I was recently connected to Russell by a mutual friend, TA McCann at Pioneer Square Labs. TA had a sense Russell and I would hit it off, and we did. Russell is a multi-time founder/CEO, a Coach, and an author, so we have a lot in common.
One Life to Lead is an excellent book. First, it is short and easy to get through. Unlike a lot of business books, it doesn’t go on too long or contain anything extraneous. It’s to the point!
Second, the book is a business book that’s not really about business. It’s about life and what Russell calls Life Design, which is a great framing of how to be intentional about leading your life. While I have become less and less of a life planner as I’ve gotten older under the headline of “man plans, God laughs,” I am a huge believer in being intentional about everything, which I talk about in Startup CEO quite a bit in the nuts and bolts context of building your business.
Finally, Russell’s framework is easy to understand and full of concrete exercises you can to. Here are his five steps, but you’ll have to read the book to get the details:
- Ground stories with facts. This reminds me a lot of the principles we have taught team members over the years in our Action/Design (and related) trainings. First, start with absolute concrete facts that everyone will agree are facts.
- Establish your principles. This is brilliant. Your company has documented values or operating principles. Why don’t you?
- Harness energy from the environment. Figuring out what makes you tick, and what drains your energy, is so important.
- Get in and stay in your genius zone. Shouldn’t we all focus our time on the things we do best and love the most?
- Take action. How to put it together and make it all happen.
If you don’t get out in front of life, it will happen to you, and Russell’s framework is about how to make sure you are in the driver’s seat of your own life. Here’s to that.
Book Short: Gladwell Lite
Book Short:Â Gladwell Lite
What the Dog Saw, And Other Adventures (book, Kindle) is Malcolm Gladwell’s latest book. Unlike his three other books, which I quite enjoyed:
- The Tipping Point (about how trends and social movements start and spread)
- Blink (about how the mind makes judgments)
- Outliers: The Story of Success (about how talents are genetic, situational, and cultivated)
this was not a complete book, but rather a compendium of his New Yorker articles loosely grouped into three themes.
If you love Gladwell and don’t read The New Yorker, it’s not a bad read. He’s a fantastic writer, and his vignettes are interesting. There are many “hmmm” moments as we learn why ketchup always tastes the same but mustard doesn’t; why Ron Popeil is a great salesman of kitchen gadgets; or why the inventor of the birth control pill thought the Pope would endorse it. But it falls far short of his three books, which go deep into topics and leave a much more lasting impression/impact.
Book Short: A SPIN Selling Companion
Book Short:Â A SPIN Selling Companion
At Return Path, we’re big believers in the SPIN Selling methodology popularized by Neil Rackham. It just makes sense. Spend more time listening than talking on a sales call, uncover your prospect’s true needs and get him or her to articulate the need for YOUR product. Though it doesn’t reference SPIN Selling, Why People Don’t Buy Things, by Kim Wallace and Harry Washburn is a nice companion read.
Rooted in psychology and cognitive science, Why People Don’t Buy Things presents a very practical sales methodology called Buying Path Selling. Understand how your prospect is making his or her buying decision and what kind of buyer he or she is, be more successful at uncovering needs and winning the business.
The book has two equally interesting themes, rich with examples, but the one I found to be easiest to remember was to vary your language (both body and verbal) with the buyer type. And the book illustrates three archetypes:Â The Commander, The Thinker, and The Visualizer. There are some incredibly insightful and powerful ways to recognize the buyer type you’re dealing with in the book.
But most of the cues the authors rely on are physical, and lots of sales are done via telephone. So I emailed the author to ask for his perspective on this wrinkle. Kim wrote back the following (abridged):
Over the phone it is fairly easy to determine a prospect’s modality. I’ve developed a fun, conversational question which can be asked up front, “As you recall some of your most meaningful experiences at XYZ, what words, thoughts, feelings or visuals come to mind? Anything else?”If you’re interested in letting your blog readers test their modalities, the link below will activate a quick 10 question quiz from our website that generates ones modality scores along how they compare with others. (It’s like Myers-Briggs applied to decision making.) http://www.wallacewashburn.com/quiz.shtml
In any case, if you are a sales, marketing, or client services professional (or even if you just play one on TV), Why People Don’t Buy Things is a quick, insightful read. Thanks for the quick response, Kim!
Book Short: Virtuous Cycle
Book Short:Â Virtuous Cycle
Danny Meyer’s Setting the Table: The Transforming Power of Hospitality in Business is a fun read if you’re a New Yorker who eats out a lot; a good read for entrepreneurs around scaling leadership skills as the business grows; and a great read for anyone who runs a serious customer service-oriented organization. I’ve eaten at all of his restaurants multiple times over the years except for the new ones at MOMA (perhaps a few too many times at the Shake Shack), and while I like some more than others (perhaps the Shake Shack a bit too much), they all do have great hospitality as a common theme.
While there are a lot of good lessons in the book, Meyer talks about something he calls the Virtuous Cycle of Enlightened Hospitality that matches the general hierarchy of constituents or stakeholders in a business that I refer to at Return Path:  employees, customers, community, suppliers, investors. His general point is that if you have happy employees, they make for happy customers, and returns for investors will follow. While the specifics may or not be true of all businesses, I bet the first and last item are — especially for service-oriented businesses in any industry. I wish we had a better handle on the Community aspect at Return Path, but we at least do an OK job at it, especially given the geographic diversity within the company.
(Note this was one of Fred’s favorite parts of the book as well from his review — nice to see a professional investor in agreement!)
New People Electrify the Organization
New People Electrify the Organization
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We had a good year in 2009, but it was tough. Whose wasn’t? Sales were harder to come by, more existing customers left or asked for price relief than usual, and bills were hard to collect. Worse than that, internally a lot of people were in a funk all year. Someone on our team started calling it “corporate ennui.” Even though our business was strong overall and we didn’t do any layoffs or salary cuts, I think people had a hard time looking around them, seeing friends and relatives losing their jobs en masse, and feeling happy and secure. And as a company, we were doing well and growing the top line, but we froze a lot of new projects and were in a bit of a defensive posture all year.
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What a difference a year makes. This year, still not perfect, is going much better for us. Business conditions are loosening up, and many of our clients have turned the corner. Financially, we’re stronger than ever. And most important, the mood in the company is great. I think there are a bunch of reasons for that – we’re investing more, we’re doing a ton of new innovation, people have travel budgets again, and people see our clients and their own friends in better financial positions.
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But by far, I think the most impactful change to the organizational mood we’re seeing is a direct result of one thing: hiring. We are adding a lot of new people this year – probably 60 over the course of the year on top of the 150 we had at the beginning of the year. And my observation, no matter which office of ours I visit, is that the new people are electrifying the organization. Part of that is that new people come in fresh and excited (perhaps particularly excited to have a new job in this environment). Part of it is that new people are often pleasantly surprised by our culture and working environment. Part of it is that new people come in and add capacity to the team, which enables everyone to work on more new things. And part of it is that every new person that comes in needs mentoring by the old timers, which gives the existing staff reminders and extra reason to be psyched about what they’re doing, and what the company’s all about.
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Whether it’s one of these things or all of them, I’m not sure I care. I’m just happy the last 18 months are over. The world is a brighter place, and so is Return Path. And to all of our new people (recent and future), welcome…thanks for reinvigorating the organization!
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Book Short: Alignment Well Defined, Part II
Book Short:Â Alignment Well Defined, Part II
Getting the Right Things Done: A Leader’s Guide to Planning and Execution, by Pascal Dennis, is an excellent and extraordinarily practical book to read if you’re trying to create or reengineer your company’s planning, goal setting, and accountability processes. It’s very similar to the framework that we have generally adapted our planning and goals process off of at Return Path for the last few years, Patrick Lencioni’s The Advantage (book, post/Part I of this series). My guess is that we will borrow from this and adapt our process even further for 2014.
The book’s history is in Toyota’s Lean Manufacturing system, and given the Lean meme floating around the land of tech startups these days, my guess is that its concepts will resonate with most of the readers of this blog. The book’s language — True North and Mother Strategies and A3s and Baby A3s — is a little funky, but the principles of simplicity, having a clear target, building a few major initiatives to drive to the target, linking all the plans, and measuring progress are universal. The “Plan-Do-Check-Adjust” cycle is smart and one of those things that is, to quote an old friend of mine, “common sense that turns out is not so common.”
One interesting thing that the book touches on a bit is the connection between planning/goals and performance management/reviews. This is something we’ve done fairly well but somewhat piecemeal over the years that we’re increasingly trying to link together more formally.
All in, this is a good read. It’s not a great fable like Lencioni’s books or Goldratt’s classic The Goal (reminiscent since its example is a manufacturing company). But it’s approachable, and it comes with a slew of sample processes and reports that make the theory come to life. If you’re in plan-to-plan mode, I’d recommend Getting the Right Things Done as well as The Advantage.
Book Short: A Twofer
Book Short:Â A Twofer
My friend Andrew Winston, who is one of the nation’s gurus in corporate sustainability, just published his second book, this one from Harvard Business Press — Green Recovery: Get Lean, Get Smart, and Emerge from the Downturn on Top. It builds on the cases and successes he had with his first book, Green to Gold (post, link to book), which came out a couple years ago and has become the standard for how businesses embrace sustainability and use it to their financial and strategic competitive advantage rather than thinking of it as a burden or a cost center.
Green Recovery is a shorter read (my kind of business book), and it hits a few key themes:
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Going green not only shouldn’t wait for better economic times, it’s a key way out of this mess
- Businesses have relied on layoffs to cut costs for far too long — it’s time to get lean on stuff, not people
- This is about survival for many businesses:Â Detroit died because it missed the green wave of environmental interest and rising energy prices
- And the overarching theme…Green doesn’t raise costs, it lowers them – it’s a source of profit and innovation
The book reminds me a lot of my post Living With Less, For Good, which I wrote at the beginning of the financial market freefall last fall, talking about how we as a company were figuring out how to cut back without cutting people (something we’ve managed to do). Although I wasn’t talking about green initiatives specifically, the point of getting leaner on “stuff” really resonates with me.
At the end of the day, Andrew proves that steering your company to go green — no matter what industry you’re in — is a twofer: you can increase the strength of the business and simultaneously do your part to clean up the environment. That’s definitely the “change we can believe in” mentality applied quite pragmatically!
Book Short: What’s For Dinner Tonight, Honey?
Book Short:Â What’s For Dinner Tonight, Honey?
The Paradox of Choice: Why More is Less, by Barry Schwartz, presents an enlightening, if somewhat distressing perspective on the proliferation of options and choices facing the average American today. The central thesis of the book is that some choice is better than no choice (I’d rather be able to pick blue jeans or black jeans), but that limited choice may be better in the end than too much choice (how do I know that the jeans I really want are relaxed cut, tapered leg, button fly, etc.?). We have this somewhat astonishing, recurring conversation at home every night, with the two of us sitting around paralyzed about where to eat dinner.
The author’s arguments and examples are very interesting throughout, and his “Laffer curve” type argument about choice vs. too much choice rings true. While there’s obviously no conclusive proof about this, the fact that our society is more rife with depression than ever before at least feels like it has a correlation with the fact that most of us now face a proliferation of choices and decisions to make exponentially more than we used to. The results of this involve ever-mounting levels of regret, or fear of regret, as well as internal struggles with control and expectations. Perhaps the best part of the book is the final chapter, which ties a lot of the material of the book together with 11 simple suggestions to cope better with all the choices and options in life — summed up in the last few words of the book suggestions that “choice within constraints, freedom within limits” is the way to go. Amen to that. We all need some basic structure and frameworks governing our lives, even if we create those constructs ourselves. The absence of them is chaos.
Overall, this is a good social science kind of read, not overwhelming, but definitely interesting for those who are students of human psychology, marketing, and decision making. It’s squarely in the genre of Gladwell’s The Tipping Point and Blink, and Robert Cialdini’s Influence, most of which I’ve written about recently, and though not as engaging as Gladwell, worth a read on balance if you like the genre.
Thanks to my friend Jonathan Shapiro for this book.