Business

Brief summary Billion-Dollar Lessons: What You Can Learn from the Most Inexcusable Business Failures of the Last 25 Years Welcome to Business Failure 101 In the 1960s, IBM CEO Tom Watson called an executive into his office after his venture lost $10 million. Watson asked the man if he knew why he’d been called in. The man said he assumed he was being fired. Watson told him, "Fired? Hell, I spent $10 million educating you. I just want to be sure you learned the right lessons.” In Billion-Dollar Lessons, Paul Carroll and Chunka Mui draw on research into more than 750 business failures to reveal the misguided tactics that mire companies again and again. There are thousands of books about successful companies but virtually none about the lessons to be learned from those that crash and burn. Lesson One: The Cold Hard Facts Between 1981 and 2006, 423 major publicly held U.S. companies with combined assets totaling $1.5 trillion filed for bankruptcy. Hundreds more took huge write-offs, discontinued major operations, or were acquired under duress. Again and again, companies follow the same wrong-headed strategies that brought down businesses in the past. The sub-prime mortgage crisis that cost companies tens of billions of dollars in 2007 and 2008 echoes the ill-conceived strategies that pushed Green Tree Financial and Conseco into bankruptcy years earlier. Tom Watson’s executive’s $10 million lesson seems cheap by comparison. Lesson Two: Failure Patterns Carroll and Mui found that the number one cause of failure was misguided strategy—not sloppy execution, poor leadership, or bad luck. These strategic errors fall into seven categories, including: * Pursuing nonexistent synergies: Quaker Oats’ purchase of Snapple was supposed to capitalize on distribution synergies but instead led to a $1.7 billion write-off. * Moving into an "adjacent” market that isn’t really adjacent: Avon decided its "culture of caring” qualified it to operate retirement homes. Subsequent write-offs totaled $545 million. * Buying more problems than efficiencies through misguided consolidation: Despite pioneering the discount department store years before Sam Walton came along, Ames Department Stores flubbed consolidation efforts, landing in bankruptcy twice before eventually liquidating. Lesson Three: Avoid Making the Same Mistakes But there’s light at the end of the tunnel: Billion-Dollar Lessons provides proven methods that managers, boards, and even investors can adopt to avoid making the same mistakes. While there’s no way to guarantee success, this book draws on vivid, off-the-beaten-track examples to help you avoid failure by showing you how to thoroughly assess potentially disastrous strategies before they bring your company down. Required Reading Think of Billion-Dollar Lessons as the flip side of Good to Great, but just as eye- opening and essential as that business classic. There’s enormous value in learning from companies that lost millions (if not billions) in pursuit of strategies that led to spectacular flameouts. Everyone makes mistakes, but why make the same mistakes over and over? ISBN:9781591842194 Author: Paul B. Carroll & Chunka Mui

Brief Summary You are about to embark on one of the biggest adventures of your life. It's a daunting prospect, isn't it? An empty desk, no customers, no confirmed money coming in, and no one to gossip with. Welcome to running your own business. Every issue is now yours to wrestle with, and yours alone. But then so is all the satisfaction when things go well, whether that is mental or financial. This book expertly guides you through the principles of running and growing a successful business - including what to do when it's not going exactly as you wish. Crammed with practical advice - from assessing pros and cons to motivating yourself and adopting effective practices - it will help you find clear, practical solutions and prove invaluable as you tackle this great adventure. ISBN:9781473638136 Author:Kevin Duncan

Brief Summary How maverick companies have passed up the growth treadmill — and focused on greatness instead.It’s an axiom of business that great companies grow their revenues and profits year after year. Yet quietly, under the radar, a small number of companies have rejected the pressure of endless growth to focus on more satisfying business goals. Goals like being great at what they do . . . creating a great place to work . . . providing great customer service . . . making great contributions to their communities . . . and finding great ways to lead their lives.In Small Giants, veteran journalist Bo Burlingham takes us deep inside fourteen remarkable companies that have chosen to march to their own drummer. They include Anchor Brewing, the original microbrewer; CitiStorage Inc., the premier independent records-storage business; Clif Bar & Co., maker of organic energy bars and other nutrition foods; Righteous Babe Records, the record company founded by singer-songwriter Ani DiFranco; Union Square Hospitality Group, the company of restaurateur Danny Meyer; and Zingerman’s Community of Businesses, including the world-famous Zingerman’s Deli of Ann Arbor.Burlingham shows how the leaders of these small giants recognized the full range of choices they had about the type of company they could create. And he shows how we can all benefit by questioning the usual definitions of business success. In his new afterward, Burlingham reflects on the similarities and learning lessons from the small giants he covers in the book. " " ISBN:2147483647 Author:Bo Burlingham

Choosing between the stability of a traditional career and the upside of entrepreneurship? Why not have both?Becoming a full-time entrepreneur can look glamorous from the outside. Who doesn’t want to chase their dreams, be their own boss, and do what they love? But the truth is that entrepreneurship is often a slog, with no regular hours, no job security, and very little pay. What if there was a way to have the stability of a day job with the excitement of a startup? All of the benefits of entrepreneurship with none of the pitfalls? In The 10% Entrepreneur, Patrick McGinnis shows you how, by investing just 10% of your time and resources, you can become an entrepreneur without losing a steady paycheck. McGinnis details a step-by-step plan that takes you from identifying your first entrepreneurial project to figuring out the smartest way to commit resources to it. He shows you how to select and engage in projects that will provide you with upside outside the office while making your better at your day job. He also profiles real-world 10% Entrepreneurs such as... •Luke Holden, a cash-strapped recent college graduate, who started his own lobster-roll empire and oversaw much of its first year of operations, all while working full time in corporate America•Dipali Patwa, a designer and mom whose side project designing and selling infant clothing is now a sensation.•A group of friends who met at a 6am Bible study class and went on to start a brewery that now generates millions in sales . A successful 10% Entrepreneur himself, McGinnis explains the m ISBN:2147483647 Author:Patrick J. McGinnis

Billions of citizens around the world are frustrated with their governments. Why is this? And what can we do about it? In this groundbreaking book Michael Barber draws on his wealth of international experience advising political leaders, to show how those in power can make good on their promises. 'Refreshingly ruthless ... has an uplifting brio to it' Economist 'Michael Barber is a source of inspiration and wisdom' Andrew Adonis, New Statesman 'Excellent ... there is a lot of common sense and practical wisdom ... a breath of fresh air' David Willetts,Standpoint 'Barber is the global overlord of public policy ... a record around the world of actually achieving change' Philip Collins, Prospect ISBN:2147483647 Author:Michael Barber