#BookNotes: The Effective Executive, by Peter Drucker

Below are the notes I took while listening to the audiobook, The Effective Executive, written by Peter Drucker. Many of these notes were initially typed on my phone, sometimes while running. So, please excuse the brevity and any typos I overlooked. The book is a classic management book. It's more informative than it is entertaining. Frankly, it took me awhile to get through this one, though I'm glad I did finish it. These are notes I took for myself and are intended to serve as a supplement to your reading or serve as a refresher if you've already read it. Hopefully it is of some value to you. If you enjoy, please be sure to check out other book notes and reviews by clicking on the #BookNotes tag below. Thank you!

Reviews of decisions need to be put in place to prevent too much damage from wrong decisions. 

This is particularly important for the most important decisions, like hiring and promoting people. Studies show that 1/3 of these decisions will be truly successful. 1/3 will be draws. 1/3 will be outright failures. Check in 6-9 months later and if the decision was a failure, recognize it is the failure of the executive. Not the employee. 

People that fail at their job after promotion should be given the opportunity to return to a previous job at their former level and salary. This encourages people to take risks with new jobs. 

Good executives know their strengths and weaknesses and in areas that are not their strength, they delegate. 

Organizations are held together by information. Not ownership or command. The effective executive identifies the correct information they need and doesn't stop asking until he gets it. 

Effective executives treat change as an opportunity rather than a threat - changes inside and outside the enterprise. 

Effective executives don't let problems overwhelm opportunities. And effective executives put their best people on opportunities rather than problems. 

Make meetings productive. 

Listen first. Speak last. 

Executives are often intelligent, imaginative, and have a high level of knowledge. But that does not make them effective. The imaginative idea alone is nothing if an executive is not able to execute effectively. 

Efficiency is getting things done right. Not necessarily getting the right things done. 

Reasons executives are ineffective, built into the process. 

  1. Executives time is other people's
  2. Executives are forced to keep operating unless they change the direction 
  3. Executives are within an organization so they're limited by what and how others use his work
  4. Executives are within an organization and limited in what they know outside of the organization

5 habits to acquire

  1. Know where time goes
  2. Focus on outward contribution - results
  3. Build on strengths, not weakness
  4. Concentrate on few areas where superior performance will produce outstanding results
  5. Make effective decisions  

Effective executives start with their time, not tasks. Memory is not reliable, you must track it to determine where time is going. 

It's amazing how many things busy people are doing that will never be missed. 

Record your time. Which activities can be eliminated? Which delegated? Which are wastes of of other people's time? 

A well managed organization is a boring one, because good preparation eliminates nearly all chaos.

Hire only people you need on day to day basis. Don't over staff. Over skilled and under worked people on your staff bring only mischief. 

You can be working or you can be meeting. You can't do both at the same time. 

Misuse of information is a key waste of time. 

Executives that say they have 50% of their time under their control rarely have any idea where there time is going. 

Small dribbles of time - 15 min here and there - are worthless. Chunks of 90 min are far more productive. Many executives block time at home to do important matters. Morning is better than evening. 

If time isn't managed, nothing else can be managed. 

Focus on contribution is key to the effective executive. Don't focus on effort, focus on results. 

The man who focuses on efforts and who stresses his downward authority is a subordinate no matter how exalted his title and rank. The man who focuses on contributions and who takes responsibility for results no matter how junior is in the most literal sense of the phrase, top management. He holds himself accountable for the performance of the whole. 

An effective organization should steadily upgrade it human resources. 

The most common reason executives fail is inability or unwillingness to change with demands of the position. 

Hire to maximize strengths, not minimize weakness. 

Effective executives know that subordinates are paid to perform and not please their superiors. It doesn't matter how many tantrums a prima donna throws, it matters if they bring in the customers. 

Effective executives do first things first, one thing at a time, and focuses on results instead of being busy. 

There's no sense in having the most efficient buggy whip company. Effective executives abandon the old when the old is no longer valuable. Failing to do so prevents the new and innovate from coming about. 

What gets postponed gets abandoned. 

Those research scientists who pick their projects according to the greatest likelihood of quick success rather than according to the challenge of the problem are unlikely to achieve distinction. 

Successful companies don't just develop new products for the existing line. They innovate for new markets. 

It's just as risky to do something small as it is something big. 

Effective executives don't make a great many decisions. They concentrate on the important ones. They aren't overly impressed by speed in decision making. Speed can mean sloppy thinking. They focus on being sound over being clever. 

Effective executives don't make many decisions because he solves generic situations through rule and policy. An executive who makes many decisions is both lazy and ineffectual. 

One has to start with what is right, not what is acceptable. 

If the greatest rewards are given for behavior that the course of action requires everyone will conclude the contradictory behavior is what management really wants. 

People start with opinions. As they should. People experienced in an area without an opinion are either unobservant or have a sluggish mind. And typically people will look for the facts that support their opinion. Opinions come first. As they should. As such, the effective executive encourages opinions and identifies what needs to be tested as a hypothesis. 

A blind Venetian is not the same thing as a Venetian blind. 

Assume people that disagree with you are rational, then seek to understand their view. This is what a smart lawyer does before a trial. 

If one asks, what will happen if we do nothing and the answer is, it will take care of itself, only a fool does something. 

Executives aren't paid to do things they like to do. They're paid to do the right things. 

Effectiveness can be learned. But it is a self discipline, not a subject. 

#BookNotes: The Obstacle is the Way, by Ryan Holiday

Below are the notes I took while listening to the audiobook, The Obstacle is the Way, written and narrated by Ryan Holiday. Many of these notes were initially written from my phone, sometimes while running. So, please excuse the brevity and any typos I overlooked. The book is an excellent introduction to stoicism and has valuable lessons for anyone. In particular, I have and will continue to put this at the top of recommended reading for entrepreneurs. The notes in no way do justice to the book. They are intended to serve as a supplement to your reading or serve as a refresher if you've already read it. If this is of value, please feel free to check out other book notes with the tag below. Thank you! 

Obstacles are an opportunity to practice some virtue. 

Turning obstacles into opportunities is commonality of successful warriors, businessmen, entrepreneurs, and people. 

Andy Grove: "Bad companies are destroyed by crisis. Good companies survive them. Great companies are improved by them." 

This book is about pragmatism. To show you how to get unstuck, unfucked, and unleashed. How to turn negative into positive. 

This is not about turning things into, "This isn't so bad." But instead, how can I make this good.  

Steal good fortune from misfortune. 

All great victories - political, business, art or seduction - involved solving vexing problems with a potent cocktail of creativity, focus, and daring.

Overcoming obstacles is a discipline of 3 critical steps: 

  1. Begins with how we look at our specific problem, our attitude or approach 
  2. Then the energy with which we actively break them down and turn them into opportunities
  3. Cultivation of an inner-will that allows us to handle defeat and difficulty 

Obstacles should be not just accepted, but embraced.

Limit passions and the control they have over our life.

Self-discipline guided Rockefeller; the greater the chaos the calmer he became.

Warren Buffett: Be fearful when others are greedy; be greedy when others are fearful.

What matters is not what obstacles are, but how we see them, how we react to them, and whether we keep our composure.

Reacting emotionally can turn bad things into really bad things.

Seen properly, every catastrophe is an opportunity to move forward.

Choose not to be harmed, and you won’t feel harmed. Don’t feel harmed, and you haven’t been. 

We are never completely powerless. 

There is nothing good or bad; our thinking makes it so.  

Steady your nerves: "What such a man needs is not courage, but steady nerve control and cool headedness. This, he can only get from practice." - Teddy Roosevelt

When we aim high, pressure and stress obligingly come along for the ride. Stuff is going to happen that catches us off guard… the risk of being overwhelmed is always there. 

If your nerve holds: Nothing really did happen. 

In the space race, astronauts were trained especially in handling crises and not panicking. 

When you worry or react emotionally, you are not solving problems and you are not thinking constructively; you are misallocating energy.

If an emotion can’t change the condition or situation you are dealing with, it is likely an unhelpful emotion. 

Real strength lies in control of ones emotions, not in pretending they don’t exist. Feel it, just don’t lie to yourself by conflating bemoaning a problem with dealing with it. They are not the same thing. 

You are not going to die from the problems you are encountering. 

The phrase, "this happened and it is bad" is really two observations.

Think - perceive - act in milliseconds can be influenced, but it takes training.

Be objective: Think about how easy it is to solve other people's problems.

You decide whether or not to put an "I" in front of something (e.g., I screwed up) and to become obsessed about a small issue.

Richard Branson: "Business opportunities are like busses, they come around quite often."

Separate issues into things you can control and things you can’t. If you can’t control it, there is no use investing emotional energy towards it. If you can control it, even if only in a minor way, invest your energies towards that. Focusing on the former is self indulgent and self destructive. 

Live in the moment, which is harder than it sounds. It's not enough just say, "I'm going to live in the moment." It takes work. Remember that this moment is not your life, it is just a moment in your life

There is good in everything if you only look. Everything. 

In life, it doesn't matter what happens or where you came from. What matters is what you DO with what you were given. 

Action overcomes obstacles. Not words or thoughts. Articulating a problem is not the same thing as solving it. 

Don't feel sorry for yourself. Get moving. And always be moving. Always. 

It's ok to be discouraged. It's not ok to quit. Persist and resist. Stop looking for angels; start looking for angles

Use the MVP startup model of "fail and iterate" on yourself. See yourself as a startup. Breakdowns happen when people interpret failure the wrong way. Great success is often preceded by great failure. 

Failure shows us the way by showing us what isn't the way. 

Being trapped is a position, not a fate.

You are so busy focused on the future that you don't take any pride in task that you're given now. 

Only a self absorbed asshole thinks he's better than his current station in life (better than this job, etc.). 

Do the job in front of you and do it well. 

Solve the problem in front of you. Monumental breakthroughs were works in progress. 

Only 6 in 286 battles studied were fought head on.

Head on is the most difficult approach often times.

Restraint may be the best action you can take. Sometimes the problem needs less of you. 

Action isn't just moving forward. It can be standing still or even backwards. Progress comes in many directions. 

Mentally tight, physically loose

It is not enough to capitalize on opportunities that present themselves. You have to create opportunities and turn crises into opportunity.

The crises is not just turned upside down, but used as a catapult. 

"Cling tooth and nail to the following rule: not to given in to adversity, not to trust prosperity, and always take full note of fortune's habit of behaving just as she pleases." - Seneca

Infinitely elastic formula: that which blocks our path always presents a new path with a new part of us. 

The will is the third discipline. Will is not how bad we want something. True will is quiet humility, resilience, and flexibility. The other will is weakness disguised by blustering ambition. 

Prepare for the hard road. Nobody is born with a steel backbone. We have to craft it ourselves. 

You chose this for yourself, a life of doing things. Now you need to be prepared for what that entails. 

The only thing assured is that things will go wrong. And the only thing we can do is anticipate bad things happening... Think, "What if..."

Unexpected failure is most discouraging. 

Constraints on us are a good thing. 

If we took traffic signals personally, we'd go insane. We accept detours and closures but don't let it prevent us from reaching our destination. Apply the same principles to other obstacles. 

Perseverance and persistence are different. The former is the long game. The latter is an action and the former is a matter of will. One is energy the other endurance. 

Meditate on your mortality. Life is a gift. 

There is no such thing as overcoming an obstacle and not having any more obstacles. It's the opposite. The more you do, the more obstacles stand in your way. Passing one obstacle just proves you are ready for more. 

"A stoic transforms fear into prudence, pain into transformation, mistakes into initiation, and desire into undertaking." - Taleb Nassim Taleb

We gather strength as we go. 

The essence of philosophy is action. 

Afterword, with Tim Ferriss: 

The problem isn't having wealth. It's when wealth has you. 

Asking people for favors has, based on studies, shown that they become indebted to you. 

Best books: How to LiveThe Fish that Ate the Whale; TitanEdison: A biography

Read: "Maker's Schedule, Manager's Schedule," essay by Paul Graham

Email may be faster but it's usually less distracting. 

The best writers live interesting lives. 

#BookNotes: Awaken the Giant Within, by Tony Robbins

Below are the notes I took while listening to the audiobook, Awaken the Giant Within, written and narrated by Tony Robbins. I love this book. The principles Robbins advocates in this book are practical and extraordinarily productive. The notes in no way do justice to the book, which I highly recommend reading. They are intended to serve as a supplement to your reading or offer a refresher of this classic. If this is of value, please feel free to check out other book notes with the tag below. Thank you! 

Life is a gift and it affords us the privilege, opportunity, and responsibility to give something back. 

Decisions are the mother of all actions. Moments of decision shape your destiny.

Saying, “I’d like to do something” is simply expressing a preference. 

You need to set standards and a baseline for what you expect of yourself and what you expect of others. Otherwise, you accept far less than you deserve.  Set and live by these standards, no matter what.

Most people make excuses, not commitments. 

Conditions don't determine your destiny. Decisions do. 

Stating preferences is not making decisions. Making a true decision means cutting off any other possibility. It means committing to achieving a true result. After making a true decision you have a sense of relief. 

Don't leave decisions up to circumstances. 

3 decisions: What to focus on, What things mean to you, What should I do now. 

If people are achieving better results than you in a particular area, they are making different decisions than you are. 

Going with the flow means allowing the environment to dictate where you go rather than your own values. And that creates a feeling of no control because decisions are being directed by the environment.  

Set a plan and have a map. 

4 steps to power:

  • Decide what you want
  • Take action
  • Notice what is working and what isn't
  • Change what isn't working based on results

6 keys to harness decisions

  • Remember the true power of making second
  • Realize the hardest step is making a true commitment; make them intelligently but quickly
  • Make decisions often; muscles get stronger with use
  • Learn from decisions and iterate; always learn
  • Stay committed to decisions but flexible in approach; it's the result that matters
  • Enjoy making decisions; any decision can change your trajectory

Everything we do is born out of avoiding pain or seeking pleasure. Procrastination is putting off the pain. But putting off the pain creates more pain (waiting to pay taxes until April 14th). 

The problem is that we tend to avoid pain or seek pleasure in the short-term rather than look at the long-term. 

The only way to change is to change what you link pain and pleasure to. This means changing the “neuro-associations.” 

It’s important to evaluate any linkages we have to pain or pleasure to determine if they are accurate. 

Focus on the pleasure of taking action and on the pain of not taking action. 

Beliefs can change our bodies in moments. They aren’t benign harmless thoughts. 

A belief is like the legs of a table top. Without the legs, it is just an idea. If you see yourself as a failure, then that belief governs actions and it will mold the life you predict for yourself. 

In order to change your beliefs you need to apply pain pleasure principle. By applying pain to current beliefs and pleasure to new beliefs. Create doubt in your existing beliefs. And build new beliefs. Turn them into convictions. Convictions are even stronger beliefs and can be used as a force of good (or bad). Look for experiences to reinforce beliefs and turns them into convictions. And then take action on it. 

What are your empowering beliefs? What are your beliefs that are disempowering? 

Who is succeeding in a particular area you’d like to succeed in and what do you need to do to do the same?  

Beliefs can create meaningful change or they can smother any hope you have for the future. 

Change doesn’t need to take a long time, be expensive, or be painful. You can change anything with the right strategy. 

NAC: Neuro Associative Conditions (training). 

The first belief we need is that we can change now. You have to believe that. Change doesn’t take time. Getting ready to change takes time. Change can happy immediately. The second belief we need is that we’re responsible for our own change. We have to see ourselves as the source and agent of change. No one else. 

6 Master Steps to Change: How to change beliefs

  1. Decide what you really want and what’s preventing you from having it now. The more you focus on what you don’t want you’ll just get more of it. You get what you focus on. The more clarity you get the better off you are. 
  2. Get leverage. Start associating massive pain to not changing and associating pleasure to changing now. Create a sense of urgency we are compelled to follow through on right now. Whether we will do it is a matter of motivation. Ask yourself pain inducing questions: What will happen if I don’t do “x,” What am i missing out on by not changing, etc. Then start asking pleasure inducing questions: How happy could I be if I changed “x”? 
  3. Interrupt the limiting pattern. It’s not enough to know what we want and we can’t keep doing the same things. We have to change things in order to get change. Do something you (or someone) doesn’t expect. Do something crazy to change your state of mind or that of the people around you.  
  4. Create a new empowering alternative. Critical to creating long-term change. For example, if you are quitting smoking, you need an alternative to relax. Or replace depression with helping others. 
  5. Condition the new pattern until it’s consistent. This is how you ensure a change you made lasts long-term. Don’t just condition yourself initially. Set up a schedule to reinforce it regularly. Link pleasure to the new behavior regularly. Set up short-term goals and milestones. Link the pleasure to the behavior that is occurring now. It’s not a logical association. It’s an emotional one. 
  6. Test the new pattern for ecology and effectiveness. The new system needs to work in a variety of environments - personal, business, health, etc. Make sure the new beliefs fit your values and principles. 

Most people are caught up making a living rather than designing a life. Most goals are “pay off debt” or “increase pay” or something. All goal setting must be followed by developing a plan and starting to act. Do you have a list of goals of the physical, spiritual, financial, goals, or are you afraid of not achieving them. 

Be flexible and open to change. Change the approach. But not the vision. 

#BookNotes: Tribes, by Seth Godin

Below are the notes I took on my phone while listening to the audiobook Tribes, written and narrated by one of my favorite thinkers, Seth Godin. The notes in no way do justice to the entire book, which I highly recommend reading. They may serve to supplement your reading or offer a refresher of this classic. If this is of value, please feel free to check out other book notes with the tag below. Thank you! 

  • Management is about manipulating resources to get a known job done.  
    Leadership is about creating change you believe in. 
    Movements have leaders. Leaders have followers. Managers have employees. 
    Managers make widgets. Leaders make change. 
     
  • Partisans join tribes, not middle of the roaders. The aim is not to attract everyone. 
     
  • Managers manage by using the authority the factory gives them... Leaders use passion and ideas to lead people as opposed to using threats and bureaucracy to manage them. 
     
  • Movements happen when people in a community talk to each other. 
     
  • 3 ways to make a tribe more effective:
    1) Transform shared interest into a passion for change
    2) Create tools to allow tribe members to tighten communications
    3) Leverage tribe to allow it to grow and gain new members
     
  • If you want us to follow you, don't be boring. 
     
  • There is no BIA: Bureau of Idea Approval you need to get approval from. 
     
  • The most fearless heretic wins, not the best idea.
     
  • The only thing holding you back is your own fear.
     
  • Fear of criticism is higher than fear of failure.
     
  • Religion is not faith. Religion is a set of rules and protocols that overlay faith. Religion can reinforce faith. 
     
  • Tactics of leadership are easy. It's the art that's hard. 
     
  • Cynicism is a lost strategy. 
     
  • What most people want in a leader is something that's very difficult to find: someone that listens. It's hard to find leaders that listen because it's easy to confuse listening to individuals and going with the crowd.  
     
  • The key is to listen, evaluate, and decide, whether it contradicts what people said or not. People want to know you listened to what they said. They are less interested in whether you do what they said. 
     
  • Tribes grow when people recruit people. That's how ideas spread too. 
     
  • Real leaders don't care about credit. Credit isn't the point. Change is. 
     
  • Compromise may expedite a project. But compromise may kill it too. 

A review: The Hard Thing About Hard Things

"Embrace the struggle... Embrace your weirdness. Your background. Your instincts. If the keys are not in there, they do not exist."  

- Ben Horowitz, entrepreneur, investor, and author of The Hard Thing About Hard Things

Those are some of the closing words in Ben’s best seller, The Hard Thing About Hard Things. As I read them and closed the book, I thought, why in the fuck don’t we replace the terrible business school curriculum that currently exists (like this) with books like The Hard Things?   

While I’m not the first to express it, I fully embrace the notion that Ben's book should be required reading for business builders of all types, including students that aspire to build businesses or lead people.  

Ben tells his story, from joining Netscape through the founding of Andreessen Horowitz, as a battle tested executive, founder, CEO, and investor. And he does so in a way that you don't want to put the book down. The war stories are riveting and experienced entrepreneurs will be able to relate to many of them in some way or another. Other stories, however, are at a scale most people are unlikely to experience and read more like a fiction book. There aren't many CEOs that have faced being delisted from the NASDAQ if they didn't triple their stock price in a few short months. Even fewer have succeeded in doing so. It may make me a business nerd, but reading about this and other experiences of his was captivating.   

Entertainment value aside, this book is packed with more advice and experience to learn from than any I’ve recently read. And I read a lot. Here are just some of my favorite highlights:

Ben’s financial controller at Loudcloud once remarked, “If you’re going to eat shit, don’t nibble,” when giving Ben advice on breaking bad news to shareholders and employees. 
"Conventional wisdom has nothing to do with truth. Markets weren't efficient at finding the truth. They were just very efficient at converging on a conclusion. Often the wrong conclusion."
"A great reason for failing won't preserve one dollar for investors, save one employee's, job or get you one new customer."
"All the mental energy you use to elaborate your misery would be far better used trying to find the one seemingly impossible way out of your current mess."
"Take care of people, product, and profits. In that order." 
"Being too busy to train is the equivalent of being too hungry to eat."
"Managing by the numbers is like painting by numbers, it's strictly for amateurs."
"By managing the organization as though it were a black box, some divisions at HP optimized the present at the expense of their downstream competitiveness. The company rewarded managers for achieving short term objectives in a manner that was bad for the company. It would have been better to take into account the white box. The white box goes beyond the numbers and gets into how an organization produced those numbers. It penalizes managers that sacrifice the future for the short term. And it rewards those who invest in the future, even if that investment cannot be easily measured."
"The difference between managing executives and managing more junior employees can be thought of as the difference between being in a fight with someone with no training and being in a ring with a professional boxer."
"There's no such thing as a great executive. There is only a great executive for a specific company for a specific point in time."
"If CEOs were graded on a curve, the mean on the test would be 22 out of 100." 
"Peacetime and Wartime require dramatically different styles... Mastering both wartime and peacetime skill sets means understanding the many rules of management and knowing when to follow them and when to violate them." 
"In well run organizations people can focus on their work, as opposed to politics and bureaucratic procedures, and have confidence that if they get their work done, good things will happen both for the company, and for them personally. By contrast, in a poorly run organization people spend much of their time fighting organizational boundaries and broken processes." 

Ben does a fine job of framing the real challenges founders and CEOs face on day-to-day basis as well as offering a framework for how to approach some of those challenges. That said, he acknowledges that the only way to really learn to be CEO is to be a CEO.  

What’s more, the book had a great personal impact on me. As I finished, I felt more inspired than I have in quite some time to get back to my roots of creation and founding; to embrace the struggle so to speak. More on that journey as it evolves. 

I obviously can’t guarantee The Hard Thing About Hard Things will have as dramatic an impact on you, but take it from someone that reads a lot of business books, if you currently manage people, run a business, or aspire to do either: Read this. Please. Your employees and shareholders will thank you. 

P.S. 

Narrators of audio books don’t make a lasting impression on me unless they suck. Kevin Kenerly’s narration of this book changed that. He helped make a great book even easier to listen to.

Book review: The End of Jobs

In the 9-to-5 sense, the number of traditional jobs as we know them are declining. Sure, there’s the occasional report of optimism on jobs in the United States, but the numbers aren’t keeping pace with population growth and they don’t take into account all those people that are under-employed or that have dropped out of the market altogether. Worse still, jobs today are easier to outsource, or replace altogether, because of the advance in technology.

It’s not the most optimistic way to frame the current job market, but it is accurate. It is also the premise of Taylor Pearson’s book, The End of Jobs.

Far from a doom and gloom outlook of the future for those looking to earn a living for the next 20 or 30 years, Pearson does a fair job of framing the current, traditional job market for what it is: a model that has worked for many, many years, but is on the verge of dramatically changing. Ultimately the book provides an incredibly optimistic outlook for people willing to accept that the cheese is being moved right in front of us, and we know where it’s going: to entrepreneurs.

Pearson also does an excellent job of framing what those changes in the traditional job market mean for entrepreneurs. The barriers to entry, access to markets, and  capital requirements to start a business are being torn down. The same business that, a decade ago, required a global network and a seven figure credit line to start, now requires less than a thousand dollars, some rudimentary computer skills, and patience. Better yet, you can stair step your way into entrepreneurship today and keep your day job as you build a business on the side.  

Pearson’s book is an inspiration to anyone that has even a hint of entrepreneurial spirit. If you’ve found yourself going to work every day thinking, “There has to be a different way,” there’s a good chance you’ll derive some inspiration out of this book. If you’ve already started your path as an entrepreneur, this book will most certainly provide the motivation you need to stay the course.

As someone that has started businesses on my own as well as for larger organizations, this book was motivating and eye opening. Pearson does a damn good job of framing the opportunities that exist for entrepreneurs in the global market, including those available for people that were propelled into entrepreneurship by an unfortunate turn of events in their traditional career.

The book is loaded with real life examples, practical plans for action, and a thorough amount of data to back up its hypothesis. It’s a good read for anyone, especially people that find themselves underemployed and close to taking the leap into entrepreneurship.

I’ll leave you with four of my favorite quotes in the book:

“It’s only when the tide goes out that you realize who’s been swimming naked.” – Warren Buffett
“I had grown the eCommerce business, which sold fold up, portable bars to caterers and hotels, by 527% over the same two-year period that wages for jobs in the U.S. were growing 0.5% per year.” – author
“If you do things that are safe but feel risky, you gain significant advantage in the marketplace.” – Seth Godin
“A few major opportunities, clearly recognizable as such, will usually come to one who continuously searches and waits, with a curious mind loving diagnosis involving multiple variables. And then all that is required is a willingness to bet heavily when the odds are extremely favorable, using resources available as a result of prudence and patience in the past.” Charles T. Munger(and one of my favorite people)