Summary of “4 Rare Things Smart Leaders Do to Get Respect”

In my research of the best features of leaders that get respect from employees, it comes down to what they do from an emotional space – how they make their employees feel.
Translated as “Go and see for yourself,” the idea behind Genchi Genbutsu is to bring leaders down from their high perches to the production floor, where they can engage with workers, ask questions, and actively listen to truly understand current issues.
Respected leaders are discovering such insights, at the ground level, are key to helping them with decision-making.
Finding the leadership trait of curiosity in your future leaders has tremendous impact, and its benefits are backed by science.
One of the factors behind it – a true blind spot for most people in management roles – is their inability to display the one strength of exceptional leaders: Vulnerability.
When employees connect above the neck with their leaders, they will walk through walls for them.
Not convinced yet? For more than four decades, global HR consulting giant Development Dimensions International has been developing millions of leaders on personal effectiveness and employee engagement.
In one study, involving 15,000 leaders from more than 300 organizations, DDI researchers set out to determine which soft skill has the highest impact on overall performance for early stage leaders.

The orginal article.

Summary of “Microsoft’s Monopoly Hangover – Stratechery by Ben Thompson”

Microsoft’s earnings report isn’t the only thing that has made me think of IBM lately; Two weeks ago, at Mirosoft’s annual partner conference, CEO Satya Nadella introduced a new offering called Microsoft 365.
Despite the fact that IBM, then and now, was regarded as a complex company with thousands of productsIBM was a one-product company-a mainframe company-with an array of multibillion-dollar businesses attached to that single franchiseIt didn’t take a Harvard MBA or a McKinsey consultant to understand that the fate of the mainframe was the fate of IBM, and, at the time, both were sinking like stones.
The great thing about a monopoly is that a company can do anything, because there is no competition; the bad thing is that when the monopoly is finished the company is still capable of doing anything at a mediocre level, but nothing at a high one because it has become fat and lazy.
So keeping IBM together was the first strategic decision, and, I believe, the most important decision I ever made-not just at IBM, but in my entire business career.
IBM, in far more dire straights, was, as Gerstner noted, close to splitting up the company so that individual divisions could sell their respective devices on their own without corporate overhead. The reality is that while changing business models is hard, for both Microsoft and IBM it was necessary to preserve what strengths they still had. This is why defenders of former-CEO Steve Ballmer miss the point when pointing out that Microsoft Azure and Office 365, the keys to Microsoft’s renewed growth, both got started under his watch.
IBM’s Cloud Miss. I’ve previously written about how IBM, specifically Sam Palmisano, who succeeded Gerstner as CEO, missed the cloud.
The reality is that the businesses IBM served – and the entire reason IBM had a market – didn’t buy customized technological solutions to make themselves feel good about themselves; they bought them because they helped them accomplish their business objectives.
As universally provided cloud services slowly but surely became good-enough, IBM no longer had a monopoly on problem solving.

The orginal article.

Summary of “44 Favorite Books of High Achievers”

The people who accomplish the most in life are serious about self-improvement, which often comes in the form of a good book.
“Edgar Schein is one of the seminal researchers and authors of organizational culture. In his final series of books as an elder he shows how our leadership mindset needs to change from doing and telling to more of a humble mindset of listening, asking questions, and creating environments that are adaptive and collaborative. This is the first of three books along the humble inquiry theme, in addition to Humble Consulting and his future book Humble Leadership.”
“Empowering and reinforcing perspectives for modern times. The former provides an encouraging account of people who take control of their lives and empower themselves in the face of challenging health issues. The second looks at the workings of the brain that control our behavior. Both are useful for choice and perspective with illness, relationships, deaths of loved ones, and work-life balance stress. These books provide a chance to recalibrate, rethink, and reassess our interpretation of degree of happiness and stress in our lives-and may leave us feeling more connected in the process.”
“This book has been a favorite of mine since I was a child. The notion of taking charge of your own destiny and not being stuck or complacent has resonated throughout my career in the hospitality industry. To be successful in any endeavor, you can’t be afraid to go places and take risks, and I think the essence of this book can be applied to many goals in business.”
I come from a lineage of physicians and so I had to rely on books such as Rich Dad Poor Dad to teach me the value and strategy of growing my business and maintaining successful cash flow and having positive debt.
“While running a business you’re bound to run into obstacles and frustrations that can become quite exhausting. This book helped me define necessary goals within the business and accomplish them through simple yet powerful techniques that transpired into a stronger team, exponential growth, and a more enjoyable working environment. This book is perfect for any entrepreneur who’s looking to make positive changes within their business and accomplish goals in a more efficient manner.”
“The Art of Thinking Clearly helped me improve my decision-making abilities, recognize possible mistakes preemptively, and provided me with the skills to avoid them. The book is all about slowing down and avoiding rushed decisions while applying rational thinking to every choice-from major business decisions to interactions with individuals that trigger emotional responses. The Art of Thinking Clearly provides a realistic, logical, and pragmatic approach to strategic thinking for life.”
“Ben Horowitz is one of the most prolific Silicon Valley Entrepreneurs and one of the most successful VCs in the past decade. His book, The Hard Thing About Hard Things: Building a Business When There Are No Easy Answers, provides uniquely applied advice and perspective on the realities of building a high-growth startup. I found it to be a must read for me and my team-as we meet the same challenges that Ben successfully navigated again and again.”

The orginal article.

Summary of “Amazon chases multibillion-dollar B2B business with Amazon Business”

Amazon Business is off to a promising start, according to Bill Burkland, the head of Amazon Business in the UK. “The US acquired over 400,000 businesses and a billion dollars in revenue for Amazon Business in its first year of business,” he said during an interview at the company’s London office, adding that there were 45,000 sellers on Amazon Business in the US by the end of the first year.
Amazon wants companies to go to Amazon Business to buy everything from new computers and A4 paper to toilet cleaner and power tools.
Amazon Prime members who set up a business account can also take advantage of free shipping on Amazon Business.
The Amazon Business platform – yet to get any dedicated integration with Alexa, Amazon’s virtual assistant – has proved popular with small and medium-sized businesses from the get-go, but Amazon is keen to get larger enterprises with thousands of staff buying in bulk, as that can drive revenue higher.
Interestingly, Burkland said it didn’t matter to Amazon whether businesses did their shopping through Amazon.co.uk or Amazon Business.
Amazon Business could become the next AWS. Amazon has several large businesses beyond its well-known e-commerce platform, including a video-streaming platform, a music-streaming platform, a grocery-delivery service, and an audiobook service.
Burkland compared Amazon Business to Amazon’s enormous cloud company, Amazon Web Services, which hit over $12 billion in revenue in 2016.
All the engineering efforts for Amazon Business happen outside the UK, but Amazon has hired dedicated sales, marketing, procurement and alliance teams for Amazon Business locally.

The orginal article.

Summary of “How product managers are slowly becoming mini CEOs”

In many Bay Area businesses, the Product Manager position is akin to CEO of a specific product or focus area.
In some cases, the product manager is really more of a project manager, responsible for deadlines and delivery, but not for the overall understanding of the customer and the metrics for the business.
In my mind, it is the product manager’s responsibility to run the entire product and project roadmap, if possible without relying on a project manager.
The Product Manager needs to have the diverse skills required to work alongside product engineers and help push a project to completion.
The Product Manager must have a solid understanding of the business requirements and customer need to ensure that the technology delivers and functions as it should.
The Product Manager needs to be able to build relationships with customers to gather feedback live and act on it as appropriate.
Instead, the key is that the product is continually loved by customers and that you are able to offer a delightful product experience.
The Product Manager must be able to understand when change is needed, justify that change and correct its course rapidly to ensure the best outcome for the business.

The orginal article.

Summary of “Culture for a digital age”

Shortcomings in organizational culture are one of the main barriers to company success in the digital age.
When a unified understanding of customers is lacking, companies struggle to mobilize employees around integrated touchpoints, journeys, and consistent experiences, while often failing to discern where to best place their bets as digital broadens customer choice and the actions companies can take in response.
So do the experiences of leading players such as BBVA, GE, and Nordstrom, which have shown what it looks like when companies support their digital strategies and investments with deliberate efforts to make their cultures more responsive to customers, more willing to take risks, and better connected across functions.
The critical cultural intervention points identified by respondents to our 2016 digital survey-risk aversion, customer focus, and silos-are a valuable road map for leaders seeking to persevere in reshaping their organization’s culture.
Such moves tax the risk capacity of executives; but when the moves are made, they also shake things up and move the needle on a company’s risk culture.
Although companies have long declared their intention to get close to their customers, the digital age is forcing them to actually do it, as well as providing them with better means to do so.
Accustomed to best-in-class user experiences both on- and off-line with companies such as Amazon and Apple, customers increasingly expect companies to respond swiftly to inquiries, to customize products and services seamlessly, and to provide easy access to the information customers need, when they need it.
How can you tell if your own organization is too siloed? Discussions with CEOs who have led old-line companies through successful digital transformations indicate two primary symptoms: inadequate information, and insufficient accountability or coordination on enterprise-wide initiatives.

The orginal article.

Summary of “They’re The World’s Fastest Traders. Why Aren’t They Thriving?”

For one thing, there’s been relatively little turbulence in this bull market, a challenge for high-frequency traders and other market makers because it restrains volatility and trading volume, curbing their profits.
That’s created an identity crisis for the fastest traders, forcing companies like Virtu Financial Inc. to seek out new businesses and pushing others out entirely.
Virtu, a New York-based firm that trades more than 12,000 securities and other financial instruments on over 235 markets around the world, is at the vanguard of automated trading, yet it’s embarked on a potentially company-altering acquisition.
High-frequency traders use advanced technology and a deep understanding of the electronic marketplace to carry out or cancel trades.
“The pure speed trades are squeezed on two sides, by rising cost of infrastructure and low volatility, which gives you less reward for being the fastest,” said Eric Pritchett, chief executive officer and head of risk at Boston-based electronic trading firm Potamus Trading LLC. “That doesn’t mean there’s not still a big prize if you’re the winner. So it ends up being a better opportunity for the few firms who remain in it.”
“High-frequency traders will move into areas they weren’t in before,” said Ari Rubenstein, co-founder of Global Trading Systems LLC, one of Virtu’s competitors.
Rubenstein’s company last year bought a business on the floor of the New York Stock Exchange, where it shepherds the stock of publicly traded giants including Berkshire Hathaway Inc. and Twitter Inc. He said the purchase will give his firm the chance to offer other services directly to those companies, such as opportunities to trade foreign currencies and Treasuries, to help them hedge risk on their balance sheets.
Chopper Trading LLC, a Chicago-based speed trader, sold assets to DRW Holdings LLC in 2015.

The orginal article.

Summary of “Should You Create a Company or Personal Blog?”

“Should I create a company blog or a personal blog?”.
Have you ever wondered which type of blog would serve you better – a personal one or a company one?
Some of you may be wondering whether or not there are any major differences between a company and personal blog.
Another plus is that a personal blog makes your brand transferable, meaning you can still retain your audience if you ever choose to launch a new company, partner with a different business, etc.
I will say that one downside to running a personal blog rather than a company blog is that you’re inevitably going to give your personal opinion.
Deciding between a company or personal blog is one of the first questions business owners will have when beginning their blogging quest.
While a company blog isn’t without merit, it often lacks the transparency, authenticity, and intimacy of a personal blog.
How would you decide between creating a personal blog vs. a company blog?

The orginal article.

Summary of “The Hack: Having a Media Company Mentality”

Never before have brands and consumers had the ability to create and consume content at scale.
Just 15 years ago, if you wanted to create a commercial to promote your brand, you would need to spend hundreds of thousands of dollars on media and marketing.
If you focus on content, and attempt to build brand, you will win.
Content and DistributionThere is ZERO excuse not to be creating content around your brand, your product, your service or your business.
If you are thinking like a media company and or a publisher, then you are going to start prioritizing brand.
Brand is everything if you are trying to create a business of value.
How can you attain consumer ATTENTION? Who in your space is relevant and potentially interested in promoting your brand.
If you don’t start thinking like a media company and prioritizing brand along with content, you are going to lose.

The orginal article.

Summary of “The Power of Anti-Goals”

Last year, my business partner Chris and I sat down to think about what we wanted to achieve at Tiny.
We wanted to do something many successful business people seem to struggle with: we wanted to actually enjoy our time at work.
Over the years, we noticed that our days had started filling up with things we didn’t want to do.
We were doing business with people we didn’t like and doing everything on a schedule which was dictated by other people’s needs.
Earlier this year, we decided to figure out how we could make our days consistently more enjoyable.
To get there, we used a little trick that we learned from Warren Buffet’s business partner, Charlie Munger, who is fond of saying “Tell me where I’m going to die, so I’ll never go there.”
That it’s often easier to think about what you don’t want than what you do.
“Problems frequently get easier if you turn them around in reverse. In other words, if you want to help India, the question you should ask is not ‘how can I help India,’ it’s ‘what is doing the worst damage in India and how do I avoid it?”A lot of success in life and business comes from knowing what you want to avoid: early death, a bad marriage, etc.

The orginal article.