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May Book Report for Entrepreneurs & Business Owners

May 23, 2018

 

 

This month I have read six books, yet I have only found these three worth it for sharing. Usually, I share four books out of the 6-8 I read per month.

 

Unfortunately this month I could not recommend you the 4th one.  Since I decided not to write bad reviews, I won't share those books for now.

 

Nobody wants to read a book that I ultimately not recommend so I felt like it would be a waste of your and my time.

 

 

 

Top 3 of the month: 

 

 

 

The Second Decision by Randy H. Nelson

 

This book will help to reduce the failure rate of Entrepreneurial companies in the nation for sure! Written by an amazing leader who was already the lieutenant in the US Navy where he was made Officer of the Deck at age 25 on the USS James Madison 425 feet of nuclear-powered steel submarine.

 

This means he was qualified to be in charge of the entire ship and its crew!

 

He then uses his experience in leadership and preparation to be successful in building and leading an amazing team by applying the principles he learned in the Navy translated into business.

 

So, he uses a submarine-like set of qualifications for Entrepreneurial and fast growth businesses as a requirement for the leaders of the company.

 

At the end of each chapter, you will have the opportunity to conduct a performance review on yourself! At the end of this book, you can evaluate how well you are equipped to complete the mission for your employees, your investors, advisors and your satisfaction and fulfillment!

 

Randy gave a fantastic tool for business owners to look at finances. I highly recommend it. This is at least a minimum for you to know and do. If you wish to take this to the next level, make sure you read the “Profit First” by Mike Michalowicz.

 

Permission to Screw Up by Kristen Hadeed

 

A perfect book on leadership from a millennial with no experience to start a company and to hire millennials with no experience to work in it.

What could go wrong right?

 

The book starts out with her personal story on leadership as she learned it the hard way by having most of her people at the time. 45 of them walk out on her on the job which thought her the lesson that you as the leader have to dirty up your arms sometimes and above all, you must care and invest in your people.

 

She makes a good point that most people don’t realize that successful building businesses are challenging!

 

She said” I had no idea how hard building my company would be. Had I known what I was in for, there’s no way I would have gone through with it. There is no class in business school called “Shit is Going to Get Crazy 101.”

 

One of the leadership takeaways from Kristen is to trust people with enormous responsibilities, allow room for mess up, then give them a chance to fix it so they can learn from their mistakes. 

 

This is something that many of us need to adopt earlier on instead of jumping in and pushing out our employees from the way to fix the problem ourselves... that doesn’t work, and employees won't learns from them!

 

You will learn about the importance of trademarks and spend money wisely! Kristen has made all the possible rookie mistakes of an entrepreneur just like all of us, and in this book, she does an outstanding job explaining them with a good sense of humor!

 

You will able to see how she went from doing everything to do her job: lead finally. She walks through the tough steps she maid and how she maid them. She let her team figure out things. Even when they brought the problems to her she would ask them to come up with two solutions and as long as they didn’t burn down the place or killed someone she went with it even if it wasn’t the best one because she knew they would learn from it.

 

Just make sure to wait until the end of the book until you adapt something from her playbook. Because as she shares her ideas and tools, she used that might sound pretty awesome backfires later in the business, and she explains why and what she learned from it and how she changed things around for the better good.

 

 

Principles by Ray Dalio

 

It is always amazing to learn from successful people, and Ray Dalio is for sure one that you should learn from!

 

I like how he starts out the book with his personal life/business story and the principles as they developed from all the wrong decisions he has made.

 

In the beginning, he walks you through the market crash from the 1970s which is pretty impressive to hear from his actual

Experience being in it and trading and the principles he has learned during this time.

 

You will learn that making money in the marketplace is tough! If you are ready to give up everything else and study the whole history and the background of the market and all principle companies whose stocks are on the board as carefully as medical student anatomy. If you can do all that and also you have the cool nerves of a gambler the 6th cent of clairvoyant and the courage of a lion, you have a ghost of a chance to be successful at it.

 

I came to see that people's most significant weaknesses are the flip side of their greatest strengths. Typically, by doing what comes naturally to us, we fail to account for our shortcomings, which leads us to crash. What happens after we crash most important. Successful people change in ways that allow them to continue to take advantage of their strengths while compensating for their weaknesses and unsuccessful people don't.

 

I saw that to do exceptionally well, you have to push your limits and that if you push your limits you will crash and it will hurt a lot. You will think you have failed, but that won't be true unless you give up.

 🙌Your pain will fade and you will have many other opportunities ahead of you. 🙌

 

Later in this book, you will also learn how Ray was involved in developing the nonexistent China market with a group of people who then created the market in China that was pretty amazing to learn about!

 

You will also learn about pretty personal stuff from Ray on how he raised his family and company at the same time since he wanted to have the greatest of both so at one point he bought a farmhouse and made it his house and office. So employees would come into work while they walk into the office area they pass by the toilet where his children would always sit on it with the door open and just wave at the employees.

 

Then the family and employees would have lunch and dinner together. He also shares how he took his children on his business trips to All over the world and how amazing was that for them and how much they have learned from it.

 

It is a long but great read, but I highly recommend it.

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