Filed under: Books in General, Small Business, health care | Tags: books, Business, business book, business books, health care, Small Business
Here at Soundview we’re experts at condensing books that number in the hundreds of pages down to eight essential pages of information. Our purpose in doing this is to provide executives with concentrated knowledge that’s meant to give maximum impact for minimum time invested. Knowing the amount of effort that we put into this work, I can only tremble at the thought of tackling the bill that’s currently sitting on Capitol Hill. The health care reform bill that awaits the House of Representatives is nearly 2,000 pages. While I can’t give you eight compact pages, I’d like to discuss one aspect of the bill that is currently causing debate amongst a key segment of the American economy: small businesses.
Take a look at this article from The Dayton Business Journal for an inside track on the debate. I was glad to see that the reporter indicated there are people who are in favor of the bill, as well as covering the vocal element that are against it. While I don’t state my political opinions in this forum, I bring up the bill and its impact on small businesses because I’m anticipating a bump in business books dealing with health care if the bill is passed.
To date, Soundview has really only featured one title that dealt explicitly with health care. The Innovator’s Prescription by Clayton Christensen, Ph.D. remains a valuable resource for understanding the nature of the American health care system and the history of the system’s development.
We had the opportunity to speak with Christensen at a Soundview Live event in July 2009. Looking back on that conversation, I continue to reflect on Christensen’s argument that the government’s efforts had little to do with the care that patients actually receive. “This is a debate about reforming health insurance, not health care,” he told us at the time. While I think there is truth in his argument, I can’t help but feel that the thousands of small business owners across the U.S. are more concerned with the bill’s potential effect on their bottom lines at present.
I revisit Christensen’s book quite often, particularly when I read stories about the progress of health care reform. Regardless of the size of your company, it wouldn’t hurt to take a second look at our summary of The Innovator’s Prescription. In the event a new system dawns, those who stay informed will likely be the ones to have the smoothest transition.
Filed under: Books in General, Collection, Small Business | Tags: books, Business, business book, business books, Collection, Small Business
Perhaps I’m being a bit harsh by describing the subject of this post as a drill sergeant. Drill sergeants get a bit of a bad rap. They’re men and women with an extremely difficult task. They have to mold and shape a rag-tag band of recruits into a disciplined unit that perfectly executes every maneuver. This requires intensity, tenacity and a devotion to perfection.
When it comes to boosting the current state of small businesses in the U.S., George Cloutier may be the right man to wear the stripes. As you’ll see in this press release from Reuters, Cloutier’s new book is drawing a critical eye from some reviewers. Many of the suggestions he makes will seem a bit harsh to some readers. However, small businesses rely on the dedication and labor of their owners to ensure their success. A small business run with an average amount of effort will remain small. It takes a special amount of drive to create real growth and survive the treacherous competitive waters.
I’m curious to see how the majority of the business book reading public will receive Cloutier’s Profits Aren’t Everything, They’re the Only Thing. Cloutier himself refers to many of his theories as “tough love,” a term that, while receding from society at large, is still quite prevalent in business. Every so often, a book comes along that provides the necessary swing of the boot to the backside of business. I can’t say for certain if Cloutier’s new release is that title, but in light of the U.S. recently marking one calendar year of recession, the timing is certainly right for such a book.
If you’d like to read some additional titles specifically designed to boost small business success, we’re featuring Soundview’s Small Business Collection right now on Summary.com.
Filed under: Economics, From the Editor, General Business, Marketing, Sales, Small Business, Strategic Management, ethics | Tags: Business, Economics, Marketing, Small Business, Soundview, Strategic Management
Part of producing each month’s edition of Soundview Executive Book Summaries involves recording and editing the audio version. While conversing with a colleague at a studio with whom we work, the subject of malls came up. My friend mentioned that he’s seen more than a few empty storefronts as he walked through one local mall.
By coincidence, I came across this interesting photo study from Time magazine today. It’s important to note that at least one of the photos included in this collection is of a set of stores that were abandoned decades ago. However, the remaining stores are all fairly recent closings.
I found the photo study while reading an article about hard times at clothing retailer Abercrombie & Fitch (A&F). If you have children, or attended college between 1996 and 2006, you’re probably intimately familiar with this company. As an editor, I love the way Time used the classic tactic of posing a question in its headline. Is A&F really the worst recession brand? We might want to cast a critical eye over other business sectors before we do too much picking on people who sell hooded sweatshirts and, as the Time article notes, $90 jeans.
Still, the central issue in the article that is most worthy of discussion is how companies that are perceived as luxury brands should handle tough times. I found the concept of price cutting to be of particular interest in this article. Theoretically, a luxury brand that cuts its price runs the risk of losing its status, but does this assumption apply during times of economic hardship? I agree with the marketing professor in the article who notes that if you keep your prices low for a period of time, you create an expectation among customers that they’ll stay that way.
What’s your take on how luxury brands should navigate a recession? Send me a comment and let me know your thoughts.
Filed under: Books in General, Entrepreneurship, From the Editor, Leadership, Small Business | Tags: books, Business, business book, business books, Investing, management, Small Business, The Snowball, Warren Buffett
I came across this review of a book released earlier this year that discusses R.C. Willey, the furniture and electronics store purchased by Warren Buffett’s Berkshire Hathaway. I wonder if people didn’t focus on this book because it dealt with Bill Child, the founder of R.C. Willey, rather than on Buffett himself. That’s a shame, because Child is a fascinating character whose efforts helped propel his business to blue chip status in the eyes of the world’s most famous investor.
How to Build a Business Warren Buffett Would Buy does more than just give readers a peek into how to remodel a business from one that struggles to one that exceeds expectations. The book goes beyond numbers into the aspects of moral character and trust that form both a good workplace and a company profile that Buffett admires.
In regard to ethics, Child’s own belief in the adaptability of a business and the importance of creating a loyal work force have been echoed time and again in books about Buffett. When we reviewed Alice Schroeder’s comprehensive Buffett biography, The Snowball, we were struck by how often Buffett executed acquisition decisions by paying as much attention to the company’s philosophy as he did its balance sheet.
As the reviewer in the article above notes, the acquisition of R.C. Willey made Buffett’s Berkshire Hathaway a substantial profit, while Child certainly benefited from receiving “A” shares in Buffett’s company as part of the buy-out. Without going into a long explanation, “A” shares in Berkshire Hathaway trade for a significantly higher price than “B” shares. It just goes to show that there is still a value on companies founded on a strong work ethic and firm moral character.
Filed under: Books in General, From the Editor, General Business, Hands-On Management, Human Resources, Leadership, Other, Personal Development, Small Business | Tags: books, Business, business book, business books, Harper Collins, Harry Paul, Instant Turnaround, Leadership, management, patrick lencioni, Publishing, Ross Reck, Small Business
While engaged in one of my favorite activities (trolling various publishers’ Web sites to check out upcoming business book releases), I came across a title that’s set to debut next week. A title like Instant Turnaround grabs one’s attention pretty quickly. The premise is even more interesting. Authors Harry Paul and Ross Reck explore a subject that might prove sensitive for both executive and employee: Do people intentionally “gear-down” their efforts as a way to retaliate for perceived mistreatment?
According to the authors, this is a “business reality,” and it can hit any level of an organization. Fortunately, they provide solutions to help executives tap the wellspring of employee enthusiasm that may be held in reserve. I found it interesting that even in difficult economic times, people still hesitate to give their all. However, this can often be the result of an incorrect assumption that a company is nearing a round of layoffs or considering cutting perks and pay. Instant Turnaround should serve as a reminder to executives everywhere that communication is essential to keep employees motivated and on the same page as the company.
This book also appears to capitalize on a growing trend of writing a parable to illustrate the book’s main concepts. With any luck, Paul and Reck will be able to create a parable that can stack up to the master of a similar technique, Patrick Lencioni. His use of leadership fables has served him well through more than a half-dozen releases.
It’s obvious that none of the above authors lack any motivation when it comes to producing valuable work. Speaking of which, it’s about time I got back to my editorial duties.
Available in early September from Prentice Hall is the book How to Say It: Marketing With New Media by Lena Claxton and Alison Woo, principals of NewMediaMavens.com. Touted as a “guide to promoting your small business using Web sites, e-zines, blogs and podcasts,” I’ll be interested to see if Claxton and Woo offer something new to the mix, or if I and other readers can skip the $16.95 and find the information elsewhere, i.e., free on the Web.
Product descriptions of the book claim that its full of practical steps, quick tips, and content templates—all things that are very useful to the maddeningly busy small businessperson. However, if it seems too canned and not easy to customize to your company’s particular brand, then the book may be little more than a stepping point for you
If you’re looking for something a little less how-to and a little more thought provoking, take a look at Marketing to the Social Web: How Digital Customer Communities Build Your Business by Larry Weber, or if you really want to blow your mind, read our August Featured Book Review of Charlene Li and Josh Bernoff’s Groundswell: Winning in A World Transformed by Social Technologies. It might be more your speed than Claxton and Woo’s book.
