Actionable Books

“The amount of money you make will always be in direct proportion to: number one, the demand for what you do; number two, your ability to do it; and number three, the difficulty of replacing you.” Invaluable, page 27 I don’t know about you but I like...

"We can't afford to make business boring, or no one with any talent will do it." Business Stripped Bare, page xvii If there's one word that has never been associated with famed serial entrepreneur, Sir Richard Branson, it's boring.  As owner and founder of the Virgin brand - which now spans 450 companies and dozens of industries, from music to space travel (and virtually everything in between) - Branson's secret to success is passionately creating customer-centric businesses in industries he's personally fascinated with. Golden Egg Small is the New Big "The common thread running through these ideas is that they're simple - simple enough for an individual to take forward and make happen.  We all need to be aware that small, lean, entrepreneurial businesses are now the future of business as a whole." Business Stripped Bare, page xviii I found this point fascinating.  Here's a guy with over 50,000 employees worldwide, preaching the value of "staying small".  But he means it.  As often as is prudent, Branson works to split companies once they reach a certain size (100-150 employees, typically).  He believes, as I do, that there is incredible value that comes from everyone in a company knowing each others' names, and in feeling that their work makes a tangible difference.  Of course, the "risk" to keeping companies small is a lack of redundancy; everyone needs to pull their weight, and truly work towards to the greater good of the company. Branson says the risk is worth it.  Not only can he operate leaner, more cost effective businesses, but employees have an opportunity to rise above their job descriptions, and really jump into the entrepreneurial fun of running a business.  Everyone counts. "the more you free your people to think for themselves, the more they can help you.  You don't have to do this all on your own." Business Stripped Bare, page 40 In Business Stripped Bare, Branson's latest in a long string of books including Losing My Virginity and Screw It, Let's Do It, the rebel entrepreneur dives deep into the inner details of some of his most high profile ventures.  Rich with anecdotes of taking on British Airways with the launch of Virgin Atlantic, challenging physics with Virgin Galactic and dozens of other examples, Branson shares what he believes to be the biggest lessons he's learned through his varied and expansive experience. GEM # 1 Allow for Passion "After all, we only live once, and most of our time is spent at work, so it's vital that we are allowed to feel good about what we do. Throwing yourself into a job you enjoy is one of life's greatest pleasures - but it's one that some leaders of industry seem determined to stamp out at all costs." Business Stripped Bare, page 25 Having a small team means relying more heavily on each individual on the team.  Which means you need to trust that they're going to show up on time, be engaged in their work, and truly strive to maximize the impact of the hours they put in.  Some may look at this as a leap of faith, but you can hedge your bets by creating an environment, and set of responsibilities that really ties into each person's sense of purpose, and sense of passion.  So how do you understand their passions? Couple things - hire the right people, ask them what they want, watch and listen, and get out of their way.  It's as simple (but not necessarily as easy) as this. If you know what you stand for (Virgin is about making the experience fun for the customer), and share that purpose during your interviews, you'll attract the right kind of people.  Once they're in, get a sense of what motivates them - what makes them tick -by asking questions, watching their behaviour, and listening to the feedback you get.  Then, stay out of their way and let them own their role.  Let them take full credit, and full responsibility.  Ownership = pride, and pride = dedication. GEM # 2 Blame Small "Failure usually occurs when leaders avoid the reality of business.

“Ideas are worthless if you can’t make them happen.” Making Ideas Happen, Inside Flap Ideas. We all have them. Whether it’s a new marketing strategy, more effective fitness regimen, or a new business idea. We always seem to have an abundance of id...

"When given the choice, people will always spend their time around people they like.  When it's expedient and practical, they'd also rather do business with and buy stuff from people they like.  And now, they can." The Thank You Economy, page 4 If yo...

Like dynamite, Red Bull and Muhammad Ali, Seth Godin's books pack a powerful punch and need to be treated with respect. This book in particular should be consumed in one of the two following ways: 1)      Either you swallow it whole, shovelling all ...

You may not know the name Chip Conley but, if you've ever stayed in the San Francisco Bay area, you may have frequented one of his hotels.  As Founder and CEO of Joie de Vivre Hospitality, Conley runs the second largest boutique hotel company in the world.  And, if that doesn't suggest that we could learn a thing or two from his experience, keep in mind that all those hotels are in the Bay Area, meaning Conley and his team had to survive not only 9/11 and the impact it had on tourism, but almost simultaneously managed the dot-com bubble burst as well. Conley's book Peak: How Great Companies Get Their Mojo from Maslow, is a fascinating read that takes Abraham Maslow's Hierarchy of Needs and superimposes it on the business landscape, specifically identifying how it impacts customers, employees and investors in our "get anything, anytime", online driven world.  The book draws from Conley's own experience, and uses colorful and poignant examples to validate his belief that while we definitely need to cover our customers (and employees!) base needs when they engage with us, the competitive landscape in which we play requires us to look beyond basics if we want to encourage loyal evangelists. Golden Egg What else? "Our economy is rapidly changing from a money economy to a satisfaction economy." Martin Seligman, as quoted in Peak, page 54 When Seligman made the comment (as quoted in Peak), he was referring to employees.  If we assume that there are enough jobs out there for the top performers that we want to attract, (and there are always enough positions for those with the right talent and attitude), then we need to acknowledge that throwing an extra couple grand on their compensation package may not be enough to build loyalty these days. For those unfamiliar (and those who just need a refresher), let's review Maslow's Hierarchy of Needs: Maslow suggests that there are five levels to our human desires.  When a certain level is unsatisfied, we will focus on that level until it becomes satisfied.  At that point, we will naturally look for stimulation and satisfaction on the next level.   For a long time, we got by professionally focusing really only on the bottom level - fulfilling basic needs.  We paid our employees just enough that they could survive, and we provided products that were of adequate quality at a reasonable price, so people would continue to buy them.  The key idea, for many years and for many companies was "just enough".  The Internet has killed that. Employees (the good ones) have more options than ever before, as do our customers. Yes, we need to pay our people competitively.  And yes, we need to provide high quality products at a competitive price.  But those things just get us in the game now.  If we want to thrive, as business owners and/or team leaders, we need to start thinking up.  Up the pyramid.  Up from the muck of covering the basics needs, through the space of providing recognition and meeting desires, and into the rarefied air of providing meaning and meeting unrecognized needs. Relationship Truth Pyramids copied from PEAK and reprinted under international copyright laws GEM # 1 Define Your Pyramid(s) "Virtually any well-known company that has created an evangelistic customer base could draw its own pyramid." Peak, page 149   One of the most widely recognized tattoos is the Harley Davidson logo.  Tattoo.  Logo. We see it so often, we take it for granted.  I own a Volkswagen Jetta, but I'm not about to get the VW permanently emblazoned on my body.  Why?  Because VW's a car company and, despite the fact that they make great bikes, Harley Davidson is simply more.  And they've created that "more" patiently and deliberately. Harley makes great bikes, satisfying the lower level "needs".  But they don't stop there.  Harley also created the "Harley's Owner Group" (H.O.G.) - an opportunity for their customers to connect with one another and build relationships,

“Today’s 7 billion people will enjoy more than 250 billion extra years of life on earth over what would have transpired had we been born a century ago” Shock of Gray, page 13 “The baby boomers are retiring and we’re in trouble.” We’ve been hearing it...

“I knew with utter certainty that this was something I really had to do, and I would not budge.” A Special Calling, page 41 Why are we featuring the autobiography of a man who pioneered addiction treatment in Canada beginning in the 1940’s?  His stor...

Why is it that we often don't bat an eye at spending an extra $200 on an expensive suit, or $5000 on a house purchase, but can then turn around and spend hours clipping PennySaver coupons to save 25 cents on our next soup purchase? Why are we comfortable spending $6 on a cup of coffee now, when only 5 years ago we would be loathe to spend more than $3 on a cup of coffee (corrected for inflation)? Why do we keep stuffing ourselves at the all-you-can buffet even after our stomachs begin groaning after the third helping? Full of startling insights delivered with author Dan Ariely’s characteristic wit, Predictably Irrational is Ariely's first attempt at chronicling the oddity of human thought and choice, particularly when it comes to their financial and consumptions habits. The study of economics relies on a key set of assumptions around the notion of rational consumer choice. Simply stated, the idea that consumers are able to use reason and logic to make the decisions that are best for them, with the aim of maximizing their personal happiness and satisfaction. In doing so, the rationale goes, society benefits as a whole. With oodles of experimental evidence, Ariely shows that not only is human behaviour surprisingly non-rational (irrational), it is predictably irrational, consistent across a variety of situations, and can therefore be predicted and corrected for – if only we knew how. Golden Egg Irrational Relativity “That’s a lesson we can all learn: the more we have, the more we want. And the only cure is to break the cycle of relativity.” Predictably Irrational, Page 21 In 1993, American securities regulators forced publicly trading companies to reveal pay and salary details for all of their top executives for the first time in history.  Ostensibly, this was in a bid to build public awareness around the outrageous executive compensation schemes that were in place at the time. Newspapers regularly ran stories comparing CEO pay schemes implemented in different companies, and financial pundits spent hours on television and reams of print decrying the loss of America’s moral compass in the financial world.  Which makes what happened next all the more curious. CEO compensation schemes skyrocketed. By 2008, CEOs were earning more than 369 times the salary of the average worker, up from 131 times in 1993, and 76 times in 1976. Why? Because now, all CEOs knew what other CEOs were earning and, since no-one likes to be left out, each demanded pay schemes that matched the salaries of their counterparts. Dollar for dollar, companies started keeping up with the Joneses, and executive compensation schemes steadily pushed themselves towards even more outrageous boundaries. But regular people behave irrationally too. Have you noticed how many people purchase a bigger, faster, shinier car, or a bigger, better and swankier house than before – even if they can’t afford to keep up with the payments? The allure of relativity is so strong that it clouds judgment. It’s no surprise that every religion and philosophy out there urges people to avoid coveting their neighbours’ possessions; it’s not because they fear for peoples’ neighbours, but rather it’s because they fear for what we could do to ourselves when we try to head for the greener grass of the neighbours’ lawn. GEM #1 Irrationality Comes with a Price "Initial prices [for products] are largely “arbitrary” and can be influenced by responses to random questions; but once those prices are established in our minds, they shape not only what we are willing to pay for an item, but also how much we are willing to pay for related products (this makes them coherent).” Predictably Irrational, pages 29-30 How much would you pay for a necklace made of black pearls? It’s the 1970s: Soul Train is on the air, Nixon is in China and sideburns are all the rage. You’ve never seen a black pearl necklace before in your life but all of a sudden, there it is,

The Art of the Start is the very best book I’ve read to date on maximizing the strategic and tactical efforts of a start up business. Perhaps what I enjoyed most about it, however, is that it’s a book for all entrepreneurs – those starting businesses a...

"We're aware of the positive effects of choice but not the negative ones, so we attribute any harm caused by too much choice to some other cause, perhaps even to too little choice." The Art of Choosing, page 205 Stop me if you've heard this one:  A behavioural psychologist sets up a taste testing booth in a specialty supermarket.  On alternating days, she puts out 30 flavours of jam for consumers to try.  The other days she puts out only six flavours.  In both cases, people who stop try, on average, two flavours before receiving a coupon for $1 off, and continuing with their shopping.  (More on this study in a second) Did you just register that?  Thirty flavours of jam. The fact that this didn't faze you should tell you something - we are inundated by choice. The freedom to choose is a powerful one.  Our Western culture is built on it, and the globalization of the last 20 years has only pushed it to the next level.  Do a quick Google search for "jam", "shoes" or "sunglasses" (or virtually any other product, for that matter), and you'll instantly be supplied with literally hundreds of thousands of options. But why?  Because we demanded it.  Because, the rationale goes, "if choice is good, then more choice is better".  Because we want an opportunity to express our individuality - our unique tastes - at every turn. As Sheena Iyengar explores in The Art of Choosing, however, there may be a limit to the value of exponentially increasing options.  And, most interestingly, there may actually be harm in going too far.  Which brings us back to the Jam study... Golden Egg The Tipping Point of Choice "Even though the latter attracted more attention, more than six times as many people made a purchase when we displayed the smaller set of jams." The Art of Choosing, page 187 So, this behavioural psychologist sets up a study where we (consumers) are presented with 6 options and given an incentive($1 off coupon) to make a decision (purchase a jar of jam).  Then, another batch of consumers is presented with 30 options and given the same incentive to make a decision.  More options, more chance of making a decision, right?  More chance of finding the exact jam that matches our unique needs and therefore making us happier, right?  Wrong. As it turns out, those consumers that were presented with fewer options were six times more likely to make a decision as to which jam they'd be happy purchasing. So what's going on here? In The Art of Choosing, Iyengar explores dozens of research projects (many of which, including the infamous  "Jam Study", she was instrumental in orchestrating) that examine the choosing process that we are all subjected to in our daily lives.  And the fascinating result is this: while we all enjoy the process of selection - of being able to express our uniqueness and to exercise our independent thought - there are other factors at play that can turn the choosing process into a stressful experience, factors that can actually diminish happiness, rather than increase it. Too many options, it turns out, can do more harm than good. Coincidently, I had a chance to experience this first hand this weekend, at a friend's cottage.  The catch phrase of the weekend was FOMO - "fear of missing out".  For a couple of people, every activity decision was a stressful one - not because of what the choice provided, but because of what it might not provide.  Going snowshoeing meant missing out on cross country skiing.  Staying in to socialize and play games meant potentially missing out on some great outdoor adventure.  While it turned into a running joke for the getaway weekend, "FOMO" acted as a great example of the stress that too much choice can inject into our daily decision making. GEM #1 Magic Number 7 (Plus or Minus 2) "This study shows that people can learn to choose from more options, but they're less likely to drown if they start off in the shallows and then slowly move toward the deep,

“If your mind isn’t clouded by unnecessary things, then this is the best season of your life.” – Wu-Men, as quoted in Focus, page 55 We are living in an Age of Distraction; an always-on culture that is barraged from every direction with text messag...

“Sure, it would be nice if we were more rational and clear-headed about our “should”s.  Unfortunately, we’re not. “ The Upside of Irrationality, page 6 I despise stopping to put gas in my car.  Seriously, even after the low fuel light comes on my dash, I will drive around for another 30kms before finally pulling into a gas station, practically running on fumes, and fill up the car.  The inconvenience of stopping, paying my hard earned money just to keep the car moving seems like such an interruption in my day that I won’t do it until I absolutely need to.  Yes, I realize that’s totally irrational behaviour, that my car obviously won’t move unless it has gas it in and the convenience of having my car to get from A to B is the preferred option but still, I wait until the last possible second.  It’s this type of irrational thought process – the obvious ridiculousness in my logic – that Dan Ariely talks about in his newest book, The Upside of Irrationality. Ariely is a researcher of Behavioural Economics, the study of how people behave, and in this book, his research focuses on the decisions we make and why we make them, even if they’re not always in our best interest. It’s important for us to understand why we make the decisions we do so that we can correct the ways in which we fail and find more effective ways to overcome our mistakes.  This is the science behind Behavioural Economics, helping us “gain control over our money, relationships, safety, and health, both as individuals and as a society.” (page 9) Golden Egg Perfectly Irrationally Rational “We are often unaware of how these irrationalities influence us, which means that we don’t fully understand what drives our behaviour.” The Upside of Irrationality, page 288 Seeing as it’s just a few weeks after the beginning of the year, let’s talk about New Year's Resolutions.  Did you make any?  I know I did.  And they’re logical ones too – go to the gym at least three times a week, rotate the genre of books I’m reading and incorporate more literature into my selections – things like that.  I also made resolutions around work and balance in my life, deciding to focus less on working around the clock and more on time and stress management.  All important and worthwhile goals, I’d say.  But here’s the thing – I know all these resolutions will make me more well-rounded and make my life healthier and happier in the long run but in my short-term thinking, I have a hard time seeing that long term benefit. Like putting gas in the car, our short-term actions have potential devastating effects on our long-term selves.  If we skip one workout at the gym this week, that’s just a small glitch in the fitness plan and won’t make a huge difference in overall health.  But if we’re able to rationalize missing one workout this week, we’re likely able to find an excuse to miss maybe two workouts a week in a month, and possibly, a few months from now, we’ll have found something entirely different to do with the time we should be at the gym.  And 15 years from now, we’ll all be thicker, jigglier version of our former selves! But today, I can rationalize the missed workout, without much consideration of that girl 15 years from now.  It isn’t until we recognize that irrational thinking, understand our motivations behind it and then invent or create new ways to behave, that these changes will be sustainable. GEM #1 The Audacity of Assumption “It is very difficult to make really big, important, life-changing decisions because we are all susceptible to a formidable array of decision biases.” The Upside of Irrationality, page 287 As a researcher, Dan Ariely doesn’t trust his gut or “how things have always been done” – he goes out and proves whether those assumptions are correct using studies and experiments.  Ariely believes that doubting our intuition and assumptions is the only way to correct mistakes and stem the flow of wasted time, energy and resources and,

Are you a fan of CBC TV’s Dragon's Den or ABC TV’s  Shark Tank? If so, have you ever wondered how the panellists got there? In his semi-autobiographical book, Driven: How to Succeed in Business and in Life, Robert Herjavec tells of his journey from his arrival in Canada as a 7 year old Yugoslavian immigrant in the company of his parents, to the helm of a multi-million dollar, international hi-tech company and a star of the very popular Dragon's Den and Shark Tank weekly TV shows. Organized into 50 work and life principles that Robert attributes to his success, Driven is a “how to manual” offering nuts and bolts instructions on everything from making a successful pitch on the Dragon's Den to "10 steps to prepare for opportunity". The principles are illustrated throughout the book by personal anecdotes about his business experiences and the people he has met along the way. Golden Egg Everyone’s Selling Something “Selling isn’t always about convincing the other person to hand over money in exchange for a product or service” Driven, page 192 I’m sure most people “in business” have heard the saying “nothing happens until somebody sells something.” (page 192) Most people would also assume that this statement applies to the salespeople in the organization who head out the door or pick up the telephone everyday to try to sell the company’s products or services. Herjavec believes that “to one degree or another, our sales ability is related to our overall success in life”. (page 192) In his experience, too many people refuse to acknowledge the role that selling plays in their lives. He quotes Robin Williams from his role in the movie Cadillac Man: "the closest you can get to another person without sleeping with them is to sell them something." Robert believes that, at its core, selling consists of relating to another person and persuading that person to go somewhere he or she perhaps did not plan to go.  (page 193) GEM # 1 Necessary Passion “Nothing of any consequence was ever achieved without enormous passion and total dedication, not to the goal of making money but to the objective of becoming nothing less than the best” Driven, page 74 Robert believes that those who lack the necessary passion, or never search for it deep enough in their souls, risk wasting their potential. He also believes in what he calls “the gold at the end of the rainbow: when you become great at something you love, the money always follows.” (page 75) It’s this passion that drives the Wayne Gretzkys, the Serena and Venus Williams and the Robert Herjavecs of the world to make the personal sacrifices required to be the best. Wayne Gretzky was not driven by the prospect of a multi-million dollar, multi-year contract but rather, by the passion to become the most successful hockey player of his generation. Passion implies sacrifice. Robert “cannot imagine accomplishing anything of value in this world without making some kind of sacrifice. Anyone who is driven to succeed recognizes this fact” (page 125) GEM # 2 REAL Leadership “the most influential quality of great business leaders has less to do with leading an organization than with inspiring it” Driven, page 130 In Chapter 21, which he calls “When necessary, burn the ships” Robert suggests that traditional leadership is based on a concept of shared passion.  Leading conjures a vision of dragging people along as though a rope were tied around their necks. It is far more efficient to inspire people to the same level of passion you have for the mission at hand. One way to achieve this is by making the people you depend upon feel important. Put this principle into action by asking questions about them, their work and their family. Understand their reality and help them see how pursuing your passion will help them individually.  “People respond in a positive manner to those who express interest in their lives, and someone who achieves that kind of response can serve as an inspiration.

"The guy sitting down for a sitcom has very different expectations than he does when he's going to a movie.  Or watching Headline News at the airport." Death by Meeting, page 141 Death by Meeting is a leadership fable and "how-to" guide on why most meetings suck, the surprising impact that can have on your organization, and what to do about it.  There are probably four or five brilliant points within Death by Meeting, all wrapped around a surprising, yet totally applicable analogy:  good meetings are like good movies.  Better, in fact. (for you disbelievers, more on that in a minute)  And what makes a good movie?  You may have your own assumptions but, as a film school graduate (Yes, that actually happened), let me share my own learnings. A good movie consists of three key elements: • Interesting and relatable characters • Conflict; either between characters or a character and their environment • Proven Structure; a "hook", entertaining conflict and a resolution, all within a fairly standardized period of time (120 minutes, give or take 20) So now that you're caught up on that, let's dive into author Patrick Lencioni's theory on why meetings are better than movies. Golden Egg Turning meetings into movies "The leaders of these meetings have to think of themselves as directors.  Get people hooked in those first ten minutes, then mine for ideological conflict, then drive it to conclusion." Death by Meeting, page 164 One more time:  Great movies have a) believable characters, b) engaging conflict and c) a standardized structure.  We "get into movies" because we connect with the characters and want to see them overcome (or occasionally be defeated by) the obstacles they face.  And yet, as Lencioni points out, the outcome of a movie rarely (if ever) has any real impact on our lives.  They're a nice break from reality, but that's where their impact ends.  Meetings, on the other hand, do impact your reality.  They're already populated with a great cast (you and your colleagues) and, if they're set up properly, they can absolutely have the same level of conflict and structure that we find so engaging on the big screen. GEM #1 Mining for Conflict "(Everyone) needs to be looking for places where people have different opinions but aren't necessarily putting them out there.  And when you see that, you need to force them to communicate what they're thinking until they've said all there is to be said.  You need to be constantly mining for buried conflict." Death by Meeting, page 122 Movies would be pretty boring if the characters simple took turns being on screen, talking about the events of their past week and the week upcoming.  It would also be a huge waste of time, money and energy for the people involved in making the films.  Meetings are no different, in that regard.  When you put 2 or more intelligent people in a room together, they're bound to have differing opinions and values.  Exploit that.  The full value of teams is what I'm calling "collective autonomy"; a group working together to accomplish their shared goals, yet each bringing their own strengths, experiences,  interests and opinions to the table. Too many of us seem afraid to speak up and question our peers during meetings.  Do it with respect, and do it with an end goal of mutual gain, but be sure you do it.  Question everything and, on the flip side of that, be open to your peers questioning your logic or suggestions.  It's not personal, it's about making sure everyone's on the same page and buying in to the final decision, whatever that may be. Make sure your team is making informed decisions by making sure everyone is heard. GEM #2 Avoid Meeting Stew "The biggest problem with our meetings, and meetings in general, is structure. ... Our problem is not that we're having too many meetings.  Our problem is that we're having too few of them." Death by Meeting, page 135 I've done it with my team.  I have no doubt that if you lead a team,