Coach

A short memoir by Lewis about his high school baseball coach whose intimidation, intensity, and belief in him changed his life. Coach Fitz, a New Orleans legend amongst teenage boys, gave the ball to Lewis to pitch his way out of a jam, once the star pitcher was ejected. The effect of Fitz’s talk on the mound was to inspire confidence in Lewis, to say “there’s no one I’d rather have out here in this life-or-death situation” and Lewis believed in himself, believed this was his chance to show the world and himself what he was made out of. And he did it.
The essay is set against a backdrop of Fitz being harrassed by current day parents whose coddling of their children gets in the way of Fitz’s tough talk.

Continue reading “Coach”

Nine Lives of Leadership

This eBook (PDF available for download from 800-CEO-READ blog) was more of a teaser than an actual information source. Each chapter pimps a different book that Haneberg reviews, providing a quick glance into the work, but not much else.
I’m motivated to get more info on topics 1, 2, 3, 6, 8.
1: Go Deep Fast- Develop Strong Relationships As A Catalyst for Success
* pimping: Never Eat Alone by Keith Ferrazzi
* quick learnings: Seek to serve others, be generous, don’t be a deadbeat, continuously seek new connections
* recommendations on getting started: share your passions, get a buddy to motivate your connecting efforts
* followup info: subscribe to tip-of-the-week emails at nevereatalone.com
2. Organic Leadership- What you can learn from the career-paths of highly successful mega leaders
* pimping: Nobodies to Somebodies: How 100 Great Careers Got Their Start by Peter Han
* Haneberg’s favorite lesson: “Become the Big Fish by Mastering the Small Pond” (you can learn more and advance quicker in a smaller company)
* Han’s tips: Always be open to change, Top leaders aren’t always Straight-A students, Learn from more than one mentor, Go crazy in the office but sane at home (Work-Life Balance!!!), Focus on your strengths while knowing your weaknesses
3. Hot teams: How you can improve results and satisfaction by optimizing team member performance
* pimping: It’s Not What You Say… It’s What you Do by Laurence Haughton.
* Best tip: Don’t let corporate crap roll downhill to your employees. And get a coping strategy to rid yourself of that crap (yoga?)
* How to build a Hot team: right people (duh!) who mesh well together, notice what works & what doesn’t, let your people decide, don’t go crazy with policy/procedure, believe that people want to do good work.
* Final tips: Make it simple, search for disconfirming evidence, keep track of decisions/intentions/outcomes, read the book Fooled by Randomness
4. Let’s get radical: Add Energy/Velocity to You & Your Employees’ Career Growth
* pimping: Radical Careering: 100 Truths to Jumpstart Your Job/Career/Life by Sally Hogshead
5. Start-up spirit: Infuse the work environment with start-up energy while leveraging established processes
* pimping: Think Big, Act Small by Jason Jennings
* Building blocks: Be down to earth, Keep your hands dirty, Make short-term goals and long-term horizons, Let go, Have everyone think/act like an owner, Invent new businesses, Create win-win solutions, Choose your competitors, Build communities, Grow future leaders
* Questions to ask potential employers: To what degree do depts proactively collaborate and share info? How do senior leaders assess the health/sucess of the company & what metrics do they consider most important? How does the company plan for the future? How does the company decide whether to create/launch new products or retire products? Would the average team member feel their contributions are rewarded? Which accomplishments of yours do senior managers recognize as being most important? How does innovation occur within the company? What forums/meetings/processes foster and consider new ideas from employees? Which niche does the company serve– how are the products special and unique?
6: The Clarity State: Make tough decisions in an easier & more effective manner
* pimping: The Right Decision Every Time by Luda Kopeikina.
* Most interesting aspect: correct decision occurs when the decision maker is totally congruent with the decision, NOT by the outcome.
* Bad habits for managers: Multi-tasking, Competing, Working all the time
* Tips: Leadership is self-development; Have a clear objective; Stop worrying, start acting; Develop vision.
7: Organizational DNA: Determine your organization’s predominant style and use this to drive change
* pimping: Results: Keep What’s Good, Fix what’s Wrong by Gary Neilson.
* What type of org do you work for? Free assessment here.
* Most companies are passive-agressive.
* Tips: Take an “it starts with me” approach– make a difference; Make decisions stick; Assume everyone wants to do a good job
8: Emotional Acumen: Increase employee’s impact and influence
* pimping: The Likeability Factor by Tim Sanders
* Life is a popularity contest– people want to work for and wth people they like
* 4 Aspects: friendliness, relevance, empathy, realness
* Take the likeability assessment from Tim’s site.
* Raising Likeability: Unfriendliness is a weakness (failure to control yourself); email is coldest form of communication; empathy is most difficult to learn
* Final tips: Manage people, not things; judge things not people; Smile in every way (including email); Improve your personal resume every year.
9: Betting at Work: Up your odds for success
* pimping: Make your own luck by Eileen Shapiro.
* Synopsis of tips: Evaluate Upside/Downside, Assess the need for radical shift

Continue reading “Nine Lives of Leadership”

Benjamin Franklin

An insightful study of Franklin’s life in all its complexity. With his Poor Richard tales of frugality, and his Parisian chameleon blending into luxurious style, he was a master at adapting to the situation and was our “Founding Yuppie” as a huge proponent of the middleclass. Born in Boston, he ran away to Philadelphia at age 17, trying to run his own printing press business and chaffing at the reins his brother placed on him while apprenticing. Franklin always found solace in travel– his first trip to London was at age 20. After returning to the colonies, he continued with his printing business, raising ideas and opinions through anonymous submissions to his paper. Realizing the power that the position of postmaster held, he began to solicit the appointment, eventually winning it (which resulted in extensive travel throughout the colonies). Meanwhile he busied himself with scientific experiments (lightning rod, using oil to still water, etc.) and became famous in France for his electricity experiments. He ended up spending his remaining years (until age 84) as a public servant, serving in some capacity as a US representative abroad or as Pennsylvania state president.
Franklin had a common-law marriage wtith Deborah, a Philly woman who never ventured out of the city, but had several flirtations with women throughout the rest of his life. Franklin spent 15 of Deborah’s last 17 years away from her in Europe. Prior to his marriage, Franklin sired an illegit child, William, whom he brought back with him from England and raised as his own son. This was the first in a long line of illegit children, as William went on to have illegitamite Temple, who had a few children of his own out of wedlock.
Franklin was the only person to sign all 4 documents cruicial to the formation of the US– Declaration of Independance, French treaty, peace accord with Britain (ending Revolutionary War), and the Constitution.
Update: Tom Peters just posted a hurrah to BF.

Continue reading “Benjamin Franklin”

Smart and Simple Financial Strategies for Busy People

This is a good back-to-basics book on financial health. Quinn’s first rules:
* Only a few things work, and they work really well.
* Set up a system that runs automatically and you can’t fail
* Success comes from starting right, then keeping your itchy fingers off
On saving– make it automatic, with 401k deductions from your paystub and automatic deposits into investment accounts. Compound interest really works. Think twice before purchasing toys or non-essentials. Keep a 3 month cushion fund for emergencies. Enroll in DRIPs. For retirement, you MUST save 10-15%. Pay off everything (retirement, debt, cushion fund, college plans) before prepaying your mortgage.
Check your credit score annually (for free). Auto/home insurance: shop around, and opt for the highest deductable (to ensure lowest monthly rates). Make a will and living trust. She’s got great info on buying a house, mortgage types, how much house you can afford, ARM vs. fixed rate, etc.
There’s also chapters on reducing debt and saving for college.
Her best chapter was on No Worry Investing. Since I’m currently invested in stocks only, this was a big wake up call for me, and a lot of the info resonated– I’m not a professional investor and I can’t put enough time into managing my investments to ensure that I end up ahead. So why don’t I just dump everything into an index fund and call it a day? She loves the Vanguard Target Retirement funds b/c they diversify, choose appropriate assets for age/situation, hold down costs, limit your risk. Index funds are also big with her- particularly the Vanguard S&P 500 index fund. Index funds consistently beat out actively managed funds over time, and they’re cheaper– win/win!
Her recipe for success with No Worry Investing:
1. Funds that track the entire US stock market (Fidelity Spartan total market, Vanguard Total Stock Market, T.Rowe Price Total Equity index)- 40%
2. Funds for international stocks (fidelity spartan int’l fund, Vanguard Total Int’l Stock fund)- 20%
3. Index fund for REIT (Vanguard REIT index)- 10%
4. Bond index funds (vanguard total market bond index fund, fidelity US bond index fund)- 20%
5. Commodities index fund- Pimco’s Commodity Real Return Strategy Fund- 10%
Other funds of interest:
1. Funds that track S&P 500 (Fidelity Spartan 500, Vanguard 500 index)
2. Funds that track small/midsize stocks (Extended market funds)
3. Fund for socially conscious investors (Vanguard Calvert Social Index fund)
She wraps up with her last rules:
* You can’t see the future
* If you’re saving money steadily, that doesn’t matter
* All that really matters is getting more out of life

Continue reading “Smart and Simple Financial Strategies for Busy People”

New Ideas From Dead Economists

Applying past economic theories to contemporary issues, Buchholz takes an entertaining tone and leaves us with a mildly interesting work. From my newbie’s perspective, there was too much information packed into 300 pages, so I’m left slightly confused still. Here’s what I currently remember:
Absent-minded Adam Smith (The Wealth of Nations, pub 1776) praised free trade and the division of labor- specializing and dividing tasks to explode production capacity.
Thomas Robert Malthus was primarily concerned about population growth and its effect on happiness.
David Ricardo favored free trade without tarrifs or restrictions. He saw 2 possible futures for Britain- protectionist island barring foreign goods, or an extroverted trader. The former would lead to a weakened economy. Free trade makes it possible for households to consume more goods regardless of whether trading partners are more or less economically advanced. “If French farmers are willing to feed us for less than it would cost us to feed ourselves, let us eat French food and spend our time doing something else.”
John Stuart Mill- tumultuous life, went from rationalist to romanticist. Wrote Principles of Politcal Economy in 1848. From this we get the non-flat income tax (2 tiered) which encourages work and income, and high estate tax, which also encourages work.
Karl Marx- capitalism is a necessary precondition for socialism. Alfred Marshall & the marginalists- elasticity of economy. Thorstein Veblen (Theory of the Leisure Class). Maynard Keynes- smarty pants Cambridge man- savings exacerbate recession.

Continue reading “New Ideas From Dead Economists”

Why smart people make big money mistakes–and how to correct them

Yes, I’m still on the economic book bent.
This one was well-written and entertaining. Basic premise is that we prevent ourselves from making good financial choices, by simple human pyschology. We mentally account for money differently based on source of money (i.e. you go out and think nothing of spending that birthday check on an expensive coat, but you’d never do that with your paycheck) and keep pouring cash into the car that keeps breaking down simply because we have already put so much into the car so far.
Other tricks used against us are the anchoring effect of a listed price– maybe something isn’t worth $200, but when we see it marked down from $500 to $250, we can’t resist buying it. Anchor effect also hugely impacts the final price on your house sale. Overconfidence in our own abilities to time the market or to have the inside scoop on a stock also hamper us. On the opposite side, the herd effect of “everyone’s buying it” similarly hampers effective financial decisions.

Continue reading “Why smart people make big money mistakes–and how to correct them”