Friday Speed Review! Tools of Titans by Tim Ferriss

The Tactics, Routines and Habits of Billionaires, Icons and World-Class Performers

Speed Review: Tools of TitansChampion snowboarder Shaun White reveals that he always approaches major competitions with both serious goals (win the Vancouver Olympics) and silly goals (wear stars-and-stripes pants on the cover of Rolling Stone). “It takes a lot of pressure off,” he tells podcaster and author Tim Ferriss. “Winning the Olympics is a very big goal, it’s a very stressful goal to have. So it’s nice to have something else to offset it. Everything was so serious at the time, and that was just my way of dealing with it.”

Conversations and Facts

White’s unexpected but effective method for dealing with intense pressure is one example of the many gems found in Ferriss’ latest book, Tools of Titans: The Tactics, Routines, and Habits of Billionaires, Icons, and World-Class Performers. This 670-page collection of notes offers lessons, snippets of conversations and surprising facts from more than 100 of his podcast guests. There is, for example, this quote from Peter Diamandis, the engineer and entrepreneur who founded the $10 million XPRIZE for private space travel. “I talk to CEOs all the time, and I say, ‘Listen, the day before something is truly a breakthrough, it’s a crazy idea. If it wasn’t a crazy idea, it’s not a breakthrough; it’s an incremental improvement. ’”

White and Diamandis exemplify the astounding diversity of the highly successful people in the book, ranging from famous CEOs and company founders to athletes and coaches to business writers, cartoonists, generals, professors and actors. Tools of Titans is divided into three parts that reflect Benjamin Franklin’s three measures of success: Healthy, Wealthy and Wise. Ferriss notes in his introduction that “Wealthy” includes not only money but also an “abundance in time, relationships and more.”

There’s no doubt that finding the right category for many of his guests would be a challenge. Where does one put photographer Chase Jarvis or actor Kevin Costner, for example? (They finished in Wealthy and Wise, respectively.) Ferriss puts Dilbert creator Scott Adams in the Wealthy category, a decision to which this reviewer takes exception: Is there anyone wiser than Dilbert?

At any rate, the entry for Adams offers a glimpse of the combination of insights, facts and factoids offered in each profile. Ferriss explains…(click here to read the full review)

Friday Book Review! Hopping Over the Rabbit Hole

Image result for hopping over the rabbit holeGrowing up on Long Island, young Anthony Scaramucci had only one dream: to own his own company. In his book, Hopping Over the Rabbit Hole: How Entrepreneurs Turn Failure into Success, Scaramucci, a hedge fund manager and conservative TV personality, recalls his success in building up his Long Island Newsday paper route through hard work and creativity. He would, for example, get free newspapers from his managers and deliver them to houses that did not subscribe, then follow up with a visit the following day, asking the “nice ladies at the door” if they enjoyed the free paper and would like to subscribe. They often did.


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As Scaramucci explains, he enjoyed receiving the money from the paper route, but his pleasure in building up his route was about much more than money. “I felt proud,” he writes. “Proud of my accomplishment. Proud that I was doing something that served people. Proud that I made people happy.” Yes, he liked the money, he continues, “but more than anything, I loved the sense of pride I felt in building something. Of hustling day-in and day-out to earn my keep. Of being my own boss.”

An Entrepreneurial Blueprint

In Hopping Over the Rabbit Hole, Scaramucci combines colorful and well-described biographical details with how-to advice drawn from the stories that end each chapter. The result is a solid overview of attitudes and approaches that can help entrepreneurs succeed.

The chapter called “An Entrepreneurial Blueprint,” for example, ends with four valuable pieces of advice:

  1. Don’t spend money on the wrong things. Scaramucci describes visiting the offices of a new investment company at the request of a mutual friend. The founder of the company, a highly respected bond trader, leads Scaramucci on a 40-minute tour of the sumptuous offices, with long discussions about the furniture and art collection. When Scaramucci returns to his own offices, he warns his friend that the bond trader will be out of business in one year.

Click here to continue reading to find out the other 3 pieces of advice.

 

Friday Book Review! Be the Business by Martha Heller

heller-book-excerpt2-100684008-primary.idgeThe information-age tidal wave has submerged our companies and organizations. If the IT department was once contained in a room where brainy technologists worked their magic, today every office, every desk, every employee and manager — and every customer! — is involved with the company’s information technology.

In many ways, this new digital era (“new” relative to eras, of course) has not changed the core mandate of most executives and managers. What has changed is how that mandate is fulfilled. At the C-suite level, for example, the CEO must still guide strategy, instill a culture, lead his or her top management team, and take responsibility for the successes and failures of the company. The Chief Marketing Officer is responsible for the successful positioning of the company’s products in the marketplace. The Chief Operating Officer (COO) is responsible for the day-to-day operations of the company.

The role of the Chief Information Officer, however, has been dramatically altered. In her thoughtful new book, Be the Business: CIOs in the New Era of IT, Martha Heller explains the challenges and opportunities that CIOs must face and embrace. The book’s title — as spare and relevant as her chapters — tells the story: CIOs must “be the business.” Information technology is in every nook and cranny of a business. Information technology is back office and front office and connecting the two. Information technology is about digital marketing but also — as one CIO tells Heller — about turning operations into “algorithms.”

CDOs Are Not the Solution

Today’s organizations recognize the omnipresence of information technology in every department and function. One response, according to Heller, is the creation of a new Chief Digital Officer (CDO) function — in essence, relegating the CIO to the operational side of information technology as the fancy new CDO occupies himself or herself with the strategic implications of the digital age. Unfortunately, CDOs are often glorified CMOs — they understand the digital contribution to marketing but do not have a complete end-to-end grasp of the organization…(to continue reading this review, click here).

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Friday Book Review! The Network Imperative by Jerry Wind, Megan Beck, Barry Libert

The Network Imperative

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Not too many years ago, the idea of a hotel chain that didn’t own a single building or an international taxi service that didn’t own any cars might have seemed ludicrous. Today, of course, we know there are international companies worth billions of dollars in market value whose business model depends on customers connecting with independent suppliers of the service — not on the ownership of physical assets. In The Network Imperative, authors Barry Libert, Megan Beck and Jerry Wind describe the scalable, networking-based business model that is revolutionizing industries. Ebay, Uber, TripAdvisor and even Visa are examples of companies built on a network business model. One could argue that network firms are specific to certain industries. The authors disagree. “Be aware,” they write. “Investor capital, customer revenue and affinity, top talent and market buzz are shifting away from established firms toward network organizations.” According to their research, “digital networks are entering almost every industry, even some of the most mundane.”

High Performance

A quick comparison by the authors of market values between traditional and what they call “network firms” is revealing. For example, Hertz boasts a $7 billion market capitalization; Uber’s valuation is listed at more than $70 billion. Other business-performance measures also highlight the value of network firms. For example…(click here to read the full review)

Book Review: Shoe Dog By Phil Knight

Shoe DogNike is one of the world’s most famous brands. Its swoosh, famously created by an art student for just a few dollars, is ubiquitous. Its outsourcing business model is considered genius by some, controversial by others. Everyone knows Nike — or at least we think we do.

Shoe Dog, the story of Nike written by its founder, Phil Knight, offers a new perspective on the brand. Knight tells a surprisingly riveting tale. The book’s chapters are organized by year, and much of the book is spent on the first 10 years of the company (launched in 1962). As with a detective series in which we know the detective will emerge unscathed, the fact that we know the ultimate outcome of this story does not deter from the white-knuckle ride on which Knight expertly takes his readers. Knight is able to convey the fear and frustration of living on the edge that continues year after year, even as his company continues to grow. For example, Knight describes receiving the “pair count” (how many pairs of shoes shipped) from the warehouses every day. Because he depended on daily sales to generate the cash he needed to keep the business, then called Blue Ribbon Sports, alive, “the daily pair count determined my mood, my digestion, my blood pressure, because it largely determined the fate of Blue Ribbon,” he writes. “If we didn’t “sell through,” sell all the shoes in our most recent order, and quickly convert that product into cash, we’d be in big trouble.”

Blue Ribbon Sports may not be familiar to many, but it was the original name of the company that Knight founded in 1962 (the word “Nike” does not appear until nearly 200 pages into the book). Although known today as the king of outsourced manufacturing, Knight’s “Crazy Idea” — the business model he developed as a Stanford MBA student — was to introduce quality Japanese shoes to America, and specifically the Tiger, manufactured by Onitsuka Company (now Asics) in Kobe, Japan. For a number of years, Blue Ribbon Sports, a company that only existed in Knight’s mind when he traveled to Japan and told Onitsuka executives that he was its representative, was happy to be an importer of Japanese shoes — until, as Knight eloquently describes, Onitsuka decided to break its contract and surreptitiously replace BRS as distributor. The cold war battle between Knight and the man who would become his nemesis, an Onitsuka executive named Kitami, is almost worthy of the tense dance between John Le Carre’s George Smiley and the elusive Karla — which explains…(click here to continue reading this review)

Review: Living Forward by Michael Hyatt and Daniel Harkavy

Most people don’t plan their lives, write Michael Hyatt and Daniel Harkavy, authors of Living Forward: A Proven Plan to Stop Drifting and Get the Life You Want. Instead, people drift through the years, going where circumstances take them rather than taking control.

Living Forward offers a game plan for taking control through a tool call a “Life Plan,” which, as the authors explain, will answer three vital questions.

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Whenever you make a plan, you must begin with the destination. Only by knowing where you are going can you figure out how you can best get there. For the authors, the destination of a life is one’s legacy. Thus, the first question a Life Plan answers is

How do I want to be remembered? The best way to identify your desired legacy, according to the authors, is to write your own eulogy. This rather impertinent process forces you to think about what you would like others to say about you at your funeral.

The first step, of course, is to understand who those others will be. Writing your eulogy, the authors explain, begins with identifying all of your key relationships, either by individual name or by group (e.g., my peers in the company). You then describe how you want to be remembered by each group.

Most of us live extremely busy lives. However, the authors note, a busy life is not a sign of success if you are not busy doing the right things: the things that are most important to you. The second question answered by the life plan is about priorities:

What matters most to me? To help readers determine their priorities, the authors offer a tool based on what they call Life Accounts. The term is chosen for its connotation of bank accounts — that is, accounts that either have a growing balance, consistent balance or declining balance. Grouped in three concentric circles around the YOU at the center, the first three Life Accounts — spiritual, intellectual and physical — involve your relationships with yourself. The second concentric circle of three Life Accounts — marital, social and parental — involves your relationships with others. Finally, the outermost concentric circle of three Life Accounts — vocational (your job), avocational (your hobbies) and financial — concerns your output.

These are prototypical Life Accounts, but the authors emphasize that people may have different accounts and even a different number of accounts. Every individual must determine what is most important to them and, thus, create their own Life Accounts. Whatever the specific accounts may be, “the goal is to have a positive balance in each of your Life Accounts,” the authors write.

The authors cite two criteria that for them are the essential components of a positive balance in a Life Account…..(click here to continue reading)

 

Review: Never Split the Difference by Chris Voss

NeverSplitTheDifference_LgNever Split the Difference by Chris Voss

Never Split the Difference, a new book on negotiation, presents an alternative to Getting to Yes, the classic text by Roger Fisher and William Ury of Harvard. For author Chris Voss, the use of rational tools and techniques is not the most effective approach for negotiations. Instead, the key to success, especially in very dangerous negotiations, is tactical empathy, which he describes as “emotional intelligence on steroids.”

As reflected in the title of his book, Voss, the former lead international kidnapping negotiator for the FBI, did not develop his theories on negotiation in the halls of academia. An education that began as a beat cop on the mean streets of Kansas City continued as he joined the FBI and eventually traveled the world as the agency’s chief negotiator in the most dangerous situations. Somewhat surprisingly, one of the most valuable lessons he learned was not in a jungle negotiating with ruthless terrorists, but in the streets of Pittsburgh.

A drug dealer had kidnapped the girlfriend of another drug dealer. As Voss listened to the tapes of the two drug dealers talking, he heard the aggrieved dealer ask the kidnapper, “Hey, dog, how do I know she’s alright?” The kidnapper paused and then said, “Well, I’ll put her on the phone.”

Already an experienced negotiator, Voss recognized the power of that question. It was the prototype of what he would eventually call the “calibrated question,” a highly impactful tool because it gives the other side a sense of control even if they are doing what you want them to do. If the drug dealer had said, “Put her on the phone!” the other dealer would either have refused — because he didn’t want be controlled — or demanded
something in return. When responding to the question, “How do I know she’s alright,” the kidnapper feels in control because he is making the decision to put the hostage on the phone.

Calibrated questions reflect the philosophy of emotional intelligence on steroids. Never Split the Difference is filled with compelling, often harrowing stories that further illustrate the empathy-based techniques and approaches that Voss advocates.

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11 Simple People Skills That Will Get You Everything You Want

TheArtofPeopleDave Kerpen, the author of The Art of People, has developed a remarkable career around a key skill: being likeable. Kerpen is the founder of a social-media software company called Likeable Local as well as co-founder of a branding consultancy called Likeable Media. In his first two books, Likeable Social Media and Likeable Business, Kerpen explained how being likeable, which emerges from listening, storytelling and building relationships, was key to success in online marketing and business, respectively.

In The Art of People, Kerpen expands the scope of his approach to success even further, laying out a step-by-step manual for likeability in all situations. As the title of his book eloquently conveys (perhaps the reason Kerpen released his grip on the “likeable” brand name), being likeable is about the “art” of people. Becoming likeable is not a mechanical exercise; it is not about learning how to manipulate people to achieve your ends. Likeability is driven by authentic and transparent emotions.

A Lesson in Authenticity

Kerpen tells the story of listening for 20 minutes (while waiting for his phone to charge) as a tipsy stranger at a New York City party described her life, her hopes and dreams, and her disappointments. Eventually, the phone was charged and Kerpen was ready to leave, at which point the stranger, whose name was Jackie, realized she had monopolized the conversation. “What about you?” she asked. “Are you traveling anywhere?” This question led Kerpen to describe an imminent trip to San Francisco and to ask, almost as a joke, whether she had any connections at a highly exclusive Napa Valley restaurant for which he had not been able to get reservations. Jackie, it turns out, did have personal connections at the restaurant and was able to get the sought-after reservations for Kerpen and his wife. The story is a lesson in authenticity. Kerpen did not “chat up” Jackie in order to use her influence with the restaurant. He certainly had no idea this New York City stranger would have connections to the world-famous Bay-area restaurant he was interested in. However, he had been genuinely interested in her stories and her frustrations. “I listened and connected and helped her feel less lonely, if only for a few moments, and that happened to lead to my getting exactly what I wanted most at the time,” he writes.

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Review: #AskGaryVee by Gary Vaynerchuk

#AskGaryVeeGary Vaynerchuk is the prototypical social-media business success. The son of a wine shop owner, Vaynerchuk started a video blog called Wine Library TV — a quirky discussion about wine by a young man who loved the Jets and spoke about which wines fit best with Lucky Charms. Ten years later, Vaynerchuk is a highly successful social-media entrepreneur and, through his firm VaynerMedia, a sought-after consultant advising Fortune 500 companies. He is also a New York Times best-selling author. And since 2014, he is the host of #AskGaryVee, another YouTube show that, this time, is focused on helping his listeners succeed as entrepreneurs.

He brings that same mandate to his latest book, #AskGaryVee. Based on questions from his viewers, #AskGaryVee is a highly valuable primer on what works in social-media entrepreneurialism and in entrepreneurialism in general. For example, his advice to worry about the top line and not the bottom line when building a business (which aligns with his advice to solopreneurs that “cash is oxygen”) is compelling given Vaynerchuk’s meteoric rise to riches.

Of course, Vaynerchuk is first and foremost a social-media expert, and his concise overview of all the important social-media platforms that exist today is alone worth the price of the book. Another typically illuminating chapter is entitled “Content and Context,” in which he answers questions related to building compelling content and gaining exposure for that content.

For example, one viewer asked him how to get people to engage in a new and small channel. The answer: quality and hustle. “That’s all you can do: put out great content, engage with your tiny audience, and go out and try to get exposure for your content by collaborating or getting press or guest posting on someone else’s platform,” he writes. Many of the questions are quite specific. One viewer asks, for example, if he should avoid doing podcasts or videos because he has an accent. Vaynerchuk points to Google co-founder Sergey Brin and replies that accents should not stop the questioner (adding that if he doesn’t get an audience, it isn’t because of the accent). Another questioner asks whether short or long videos are better; Vaynerchuk answers that it doesn’t matter. He himself broke the commonly accepted “shorter-is-better” rule when he launched WLTV, which consisted of 40-minute videos.

Every chapter in #AskGaryVee is filled with this type of clear-cut, specific advice generated by the questions from his fans.

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Review: How to Have a Good Day by Caroline Webb

When someone would tell comedian George Carlin to “have a nice day,” Carlin would react angrily: “What if I don’t want to have a nice day?” Unlike Carlin, most of us would prefer to have nice days, but in our overworked, over-stressed and overbooked lives, it is not always easy. A new book by former McKinsey consultant Caroline Webb promises to come to our rescue. Entitled How to Have a Good Day: Harness the Power of Behavioral Science to Transform Your Working Life, it uses the advances in behavioral science, psychology and neuroscience to help us overcome or mitigate all of the stresses, setbacks and mishaps that create the many bad days or bad moments we endure.

The Essential Sciences

Webb begins her book with a quick look at three scientific advances that are key to understanding how we will be able to create a good day:
• The two-system brain. Our brains run two opposing systems in parallel, she explains. The deliberate system is our conscious thinking, slow and rational. The automatic system is subconscious, fast and instinctive. The deliberate system calculates a 15 percent tip; the automatic system makes us jump back before we are hit by a car.
• The mind-body loop. The mind and body are interconnected in ways we never realized. We knew happiness leads to a smile, but we did not know smiling (no matter how we feel) will make us happier.
• The discover-defend axis. We are constantly moving along an axis, anchored on one end by a defensive outlook, expecting attack at any moment, while anchored on the other end by a discovery mood, seeking out rewarding experiences.

 

Having laid the scientific groundwork,Webb then covers her seven building blocks of a good day:

Priorities: setting the intentional direction of the day.
Productivity: making the most of the hours of the day. Relationships: having positive, productive interactions.
Thinking: making wise choices, being creative and smart. Influence: maximizing the impact of what we say and do.
Resilience: overcoming setbacks and annoyances.
Energy: boosting enthusiasm and enjoyment.

Webb offers clear guidelines for each of the building blocks. Thus, for example, the section of the book on productivity includes chapters on single-tasking, planning deliberate down time, overcoming overload and beating procrastination. The chapters related to influence cover getting through their filters, making things happen and conveying confidence. Throughout the book, Webb carefully links the science introduced at the beginning to her directives. Down time increases productivity, for example, not only because a brain needs to rest but also because neuroscientists have discovered that the subconscious brain keeps working even when the conscious brain is at rest.

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