A summary of things you should know about Building Your Booming Business according to David Mitchell: Introduction In this episode David Mitchell reveals all his insights on Building Your BoomingRead More
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]]>In this episode David Mitchell reveals all his insights on Building Your Booming Business where he discusses 5 foundations every organization must have to succeed.
In his book Mitchell delivers step-by-step business strategies and advice that will not only take your business to the top, but will help you systemize your business, build an effective team, provide high quality customer experiences, and drive more sales. The goal of the book is alleviate the consequences that come with unmotivated employees, escalating business issues, and an overworked schedule.
This book is perfect for entrepreneurs who own a business that is experiencing stagnant sales, a lack of employee motivation, and an inability to scale.
In my book I write in a conversational tone so I use a lot of examples both from my own life and from some of my client’s lives. I gather all the information and put it in one place where a business owner can pick it up and have the basic nuts and bolts they need to create a business that’s going to be successful. A lot of the business books that I have found out there are very niche oriented and I wanted a book that ties it all together.
I tried to create a progression that if someone were to sit down and start at page one they could read it all the way through. But I also structured it in a way that you can jump in and out where needed.
In everything that you do in your business you need to be thinking about the next step.
The subtitle of the book is The Five Foundations Every Organization Must Have to Succeed. Everything that I do is built around five foundations which are Marketing, Leadership and Management, Operations, Finance, and Systems and Controls.
I started the book with Marketing and the reason why I started it with this topic is because nothing happens until somebody sells something. We don’t have a business until we put it out on the market and somebody pays us for the value that we provide them. I help the reader walk through everything from defining their product well, understanding who their target market is, pricing it appropriately and also creating marketing strategies that actually encourage action.
When I go into the Leadership and Management section I really dig deep into the leader verses the manager. They are two very different skills, a leader leads people, and a manager is somebody who manages things, processes or systems. But in order to move your organization you have to do both and sometimes you do have to manage people. At the same time you need to help inspire them so I talk about how to do that and how to develop leadership styles that are appropriate for the stage of team development.
Operations are about working with your clients to develop operations and create one that not only delivers a great experience but also is able to deliver consistently.
In the section on Finance I talk about how to get more consistently with your clients and I also discuss cash management.
The Systems and Controls section dives down deep into how to get all of these different sections to talk to each other.
At the end of the book I throw in an extra foundation called Your Personal Foundation. This discusses things like building your integrity and how people don’t judge us on our intentions but rather on what we do. So we discuss how to follow through, time management, and rounding it all out with how to prioritize between work and family.
NOTE: That was just a summary. To get the full deep dive, play the audio clip at 05:48
“As business owners we are plate spinners and as plate spinners we can’t start all 20 of our plates that we are trying to get spinning at the same time.” –Unknown
I am a business coach, consultant, and professional key note speaker. I take an entrepreneurial and business view to business leaders, owners, and entrepreneurs to help them build their business.
As I was working with business owners, entrepreneurs, and leaders I found that I was saying the same thing over and over again. So I took the same concepts and principles that I taught to my clients and combined it all in one book.
Leadership and Self-Deception by Arbinger Institute
Buy Building Your Booming Business by David Mitchell on Amazon today
Visit BuildingYourBoomingBusiness.com to learn more about the book
Visit BoomMyBusiness.com to learn more about David and het his weekly business tips
Follow David Mitchell on Twitter and Facebook
Download the full transcript here
Listen on iTunes, Stitcher , and SoundCloud
Related books:
Scaling Up by Verne Harnish
Winning the Long Game by Steve Krupp
Fail Fast or Win Big by Bernhard Schroeder
Relevant advice and tips:
5 Mistakes Entrepreneurs Make With Marketing and Branding
5 Simple Ways Entrepreneurs Can Attract Customers
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]]>A summary of things you should know about The Everything Store according to Brad Stone: Introduction In this episode Brad Stone shares his national bestselling book, The Everything Store: JeffRead More
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]]>In this episode Brad Stone shares his national bestselling book, The Everything Store: Jeff Bezos and The Age of Amazon, he unveils the inspiration and the real business lessons learned from creating such a large company. Stone takes you on a journey through the life of Jeff Bezos as he built Amazon from the ground up and is meant to be a story that all entrepreneurs and business owners can relate to. This book is perfect for the entrepreneur who wants to learn the ins-and-outs, the trials-and-errors, and the ups-and-downs of growing a business from average to amazing.
There are a couple other books about Amazon but I feel as if they were incomplete because of the fact they were written in 2001, 2002. There is one called Get Big Fast that offers a pretty good look at the first five years of Amazon but a lot has happened since that time and that is what makes my book different from the others. It shows the rise, the near fall and the rise again of Amazon.
I conceived it as a story and didn’t intend for people to pop in and out. I do think there are a lot of lessons you can takeaway but it is a book you’ll want to read from beginning to end based on how it is written.
The importance of being customer focused and putting the customer first.
I structured my book in three parts.
The first part I call Faith in the Book and it covers the years 1993 to about early 2000 when the stock market collapses. Jeff Bezos is a vice president at D. E. Shaw & Co. and is working with the founder, David Shaw, to brainstorm internet ideas. Among their ideas they come up with this notion for The Everything Store. Bezos decides he wants to be a guy like David Shaw and with his wife he drives across the country to start Amazon.
In this first part of the book I take the reader through the initial fundraising round, the first hired employees and the initial battles of the business. I also talk about Bezos finding his way and creating Amazons culture, driving people relentlessly and it’s something that he still does today.
Part two I call the Literary Influences and the unifying principle of this part of the book is at all these different parts of his life, Jeff found key insight and lessons from books. The first chapter of this section I go back and talk about Jeff’s upbringing. Not a lot of people knew this until my book but Jeff’s dad was not his biological dad, his biological dad who he never knew was actually a circus performer. I tell the story of Jeff’s stepdad who he really considers his father and the story of Jeff’s early years. This chapter covers Amazon recovering from the .com collapse and finding its identity when a lot of people had written it off. It’s the story of an underdog who manages through ingenuity and the relentless motivation of its founder to basically get its house in order, set its traditional business on firm footing and then to build on top of it.
Part three is titled Missionary or Mercenary. Missionaries in companies have high ideas and lofty goals, in Amazons case they want to be the most customer focused company in the world. Jeff believes the missionary employees and missionary employees do better than mercenary companies. Amazon identifies as a missionary company and in part three I identify what might be some mercenary practices.
The last chapter of the book I call the Kingdom of the Question mark. I tell the story of how I went and found Jeff’s biological father. He didn’t even know that his biological son had grown up to be one of the most famous executives in the world. From there I get into the culture of Amazon. I call it the Kingdom of the Question Marks because one of the ways Jeff manages such a huge business is when he see’s something he doesn’t like or hears from a customer about a complaint, he’ll often send it to the executive in that particular area of Amazon with just a question mark on the e-mail. If you are an amazon employee and get the question mark you basically run into panic mode. Jeff demands his employees to think big all of the time, bring their very best to meetings and have the customer in mind always.
“We don’t have a single big advantage so we have to weave a rope of many small advantages.” – Jeff Bezos.
I am a senior writer at Bloomberg Businessweek magazine and author of The Everything Store: Jeff Bezos and the Age of Amazon. It came out last October, won the Goldman Sachs/Financial Times Business book of the year award and just came out in paperback.
I’ve covered Silicon Valley for about 15 years now for the New York Times, Newsweek Magazine and BusinessWeek and in those times I’ve seen a lot of my colleagues write great books about the other technology companies that are changing our lives. And for whatever reason no one had done a really great job on writing a book about Amazon and I thought it was time to take a in-depth look on its history and all the obstacles’ it’s had to navigate.
Any of the works and writings of David Mitchell
Buy The Everything Store by Brad Stone on Amazon today
Visit Brad-Stone.com to learn more about Brad and his book
Check out BusinessWeek to read Brad’s exclusive column
Follow Brad Stone on Twitter and Facebook
Download the full transcript here
Listen on iTunes, Stitcher , and SoundCloud
Related books: Zero to One: Notes on Startups, or How to Build the Future by Peter Thiel | Startup Mixology by Frank Gruber | Exponential Organizations By Salim Ismail
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