Book Summary: Mind Your Own Business

A maverick is an independent person who will not go along with the other members of a group (Oxford ESL Dictionary). This book provides priceless stories and insights from a maverick of the business world; an exemplary business leader who prefers not to follow orthodox beliefs in business, nor be eaten by the hyped up ideas of the present. Instead, he chooses the course of action that is appropriate for the changing times.

The Maverick's Way: New Old Thing

What is effective? This is the question answered by the maverick. He reconciles the good things from both the Old and New times, and focuses on what is really effective in confronting the challenges of 21st century business dealings.

A maverick thinks outside of the bed, knows that it pays to be daring, does not allow technology to tyrannize, finds strength in diversity, maintains balance and harmony among people, sets leadership by example, has a strong ethical base, and values employees and customers. A maverick knows his customers and believes strongly in his products.

To a maverick, a company is a not just a big candy store. It is a living instrument with living human beings. It should have a HEART.

Keys to Leadership

The leader leads. He exercises critical judgment, which will have a great impact on his people.

The leader defines the company. The leader's responsibility is to explicitly present and advocate the company's purposes and goals.

The leader inspires. He gives sense and meaning to the job. He makes his people realize, that beyond profit there is an underlying meaning, value, and deeper reason for the work they do.

The leader should be the evangelist. He should be able to exercise his influence, to sell the values of ethical conduct.

The leader must see the company as a coherent whole. He should be aware of the diversity in the company and bring this together to promote the whole.

The leader must know that there is no better way to create a family in the workplace than to encourage the family at home. Harman International introduced the anti-domestic violence program in the company, which reinforces the idea that the company cares.

The leader should never underestimate the value of disciplined hard work.

The leader empowers subordinates to do their jobs. He should institute programs for the guidance and training of his people. He should always keep the lines of communication open.

The leader promotes closure. He should know the right time to get things done.

The leader knows what he doesn't know. The leader is not afraid to ask clarifications, if he does not understand a particular subject.

The leader knows the meaning of two minutes. He should respect the time of others and that of his own.

The leader teaches.

Above all, the leader develops others. As Lao Tzu advanced: "the leader having accomplished great things, the people all feel they did it themselves?"

The very best leaders go beyond the mere setting of example. He should be able to cause a leap of imagination and faith in his people.

The leader recognizes that people are often at their very best the moment they have been let go. There are times when an employee doesn't like the work anymore, or he is unable to appreciate how the whole enterprise works- this is the time to set him free.

A Company Must Be Profitable

1. A solid financial base is fundamental.

2. Debt should not exceed equity. A debt to equity ratio of 1 to 1 or better should be the goal, so that a company's leader and key executives do not spend all their time on mere survival -paying bills, meeting the payroll, and keeping the banks happy- but moving forward and meeting bigger challenges and doing more visionary work.

3. There should be a regular process for annual strategic planning and budget-planning.

The Fundamentals of Profit and Loss

1. Manage expectations, not the profits. Keep the shareholders informed, to eliminate doubts of manipulating numbers.

2. The Chairman and CEO should be financially literate. They should know what the numbers really mean.

3. Good growth and profitability requires the exercise of critical judgment. The leader should make certain that the budget is one the company can live with.

4. In repurchasing the company's own stocks, make sure that it will add to the company's earnings.

5. Look into the availability of funds so that the balance sheet will not be compromised.

Make an Edge in the Business World

1. Writing. It is a unique and powerful skill you can use for clarity and persuasion.

2 Public Speaking and Story-telling. Speak directly, and without notes, to your audience. Individuals respond to a well-told story.

3. Thinking. People do not respect sloppy thinking in a leader. Thoughts should be carefully considered then expressed directly, crisply, and clearly.

Summary By: Regine P. Azurin http://www.bizsum.com

"A Lot Of Great Books....Too Little Time To Read"

Free Book Summaries Of Latest Bestsellers for Busy Executives and Entrepreneurs

Mailto:freearticle@bizsum.com

BusinessSummaries is a BusinessSummaries.com service. (c) Copyright 2001-2002, BusinessSummaries.com - Wisdom In A Nutshell

In The News:

pen paper and inkwell


cat break through


Finding Common Ground Through Consensus Decision-Making

It's clear to me that a workplace is a better... Read More

Smart Staffing Practices: Don?t Confuse Activity with Results

Does your hiring process consist of proven practices or just... Read More

You Didnt Use Brainstorming to Select Your Measures, Did You?

IntroductionWhen Alex Osborn invented the creativity technique called brainstorming, I... Read More

Organisation Tips For The Mobile Executive

Despite the fact that everyone sighs "How glamorous!", the life... Read More

Recognition: A Quick, Low-cost Way to Motivate Employees

Recognizing good performance through praise or other positive action is... Read More

Lets Flourish and Prosper!

Some say that in business as in sex: if it... Read More

Temporary Employees and Operational Problems; Your Use of Temps Might Reveal Warning Signs

A recent Washington Post article, described the life of temporary... Read More

Ten Problem Solving Techniques

Do you ever need to find some good ideas, or... Read More

Todays Employees and Their New Needs: What You Need to Know

Today's employees are not only interested in security or in... Read More

Small Business Outsourcing: An Introduction

Outsourcing is the delegation of a business process to an... Read More

Key Control ? Who Has the Keys to Your Kingdom?

Key control, or more accurately the lack of key control... Read More

Is A Bad Attitude Permanent

Today there is great weight put on a person's attitude.... Read More

Follow Up: It Makes A Difference

A while back the headlight switch on our minivan quit... Read More

Your Organization Is Only as Good as Your People

Let's begin by singing the jingle from an old US... Read More

Manage Your Business from the Rockies, not the Prairies

The day job as a manager is all about managing... Read More

Using, Choosing, and Using an educational consultant

IntroductionThe aim of this document is to provide advice and... Read More

Faith is the LIFE-blood of Your ACTIONS before the Benefit -

Nothing has changed. Your ancestors lived by faith. Some planted... Read More

Safety Policy Sample Outline

Writing a safety manual is a tough job and most... Read More

Business Innovation ? the Value of Work Processes

Creativity can be defined as problem identification and idea generation... Read More

Radical Creativity from Incremental Creativity ? large movements from small changes

Positive radical movement is the holy grail of nearly every... Read More

Innovation Management ? IBM Opens Lid On Its Treasure Chest

IBM, which registered 3248 patents last year, has decided that... Read More

Employee Turnover: Is It Eating Up Your Profits?

Keeping the cost of doing business down, yet providing a... Read More

Executive ESP: A Pathway to Success!

We all have psychic abilities that we use daily, although... Read More

Will a Workplace Bully Bankrupt Your Company?

Safeguard Your Company Against Harrassment ClaimsTwenty-five percent of employees suffer... Read More

Leadership Skills Means Turnover is Not a Problem

"Ha!" you say. "For someone to make a statement like... Read More

Whadda Jerk!

If one does not understand a person, one tends to... Read More

Allan Kempert Discovers That Truly All You Gotta Do Is Ask

A year or so ago, I met Allan Kempert. Allan... Read More

Growing Profits is Easy!

Everyone involved in running a business from the smallest start-up... Read More

Hire Winners: Avoid These 10 Interview No-No?s

Have you ever hired someone who did not live up... Read More

Innovation Management ? what are the practical impediments?

Creativity can be defined as problem identification and idea generation... Read More

Organizational Techniques - Tickler and Chron File

One of the biggest problems we encounter in our consulting... Read More

Got A Meeting Planned? Ask This Question

Meetings ? they are a fact of our business lives.... Read More

Creativity and Innovation Management: The Value Of Due Diligence

Creativity can be defined as problem identification and idea generation... Read More