Build something great

"Get involved in something that you care so much about that you want to make it the greatest it can possibly be, not because of what you will get, but just because it can be done."

Ref: Good to Great, Jim Collins

Simple mantra of good-to-great companies

"The good-to-great companies at their best followed a simple mantra:
'Anything that does not fit with our Hedgehog Concept, we will not do. We will not launch unrelated businesses. We will not make unrelated acquisitions. We will not do unrelated joint ventures. If it doesn't fit, we don't do it. Period."

Ref : Good to great, Jim Collins

Common cause of failure

"One of the most common causes of failure is the habit of quitting when one is overtaken by temporary defeat. Every person is guilty of this mistake at one time or another."

Failure is a trickster with a keen sense of irony and cunning. It takes great delight in tripping one up when success is almost within reach.

Ref : "Think and Get Rich", Napolean Hill

Get more parts on the table

Challenging problems don't usually define their adjancent possible in such a clear, tangible way. Part of coming with a good idea is discovering what those spare parts are, and ensuring that you're not just recycling the same old ingredients.
The trick to having good ideas is not to sit around in glorious isolation and try to think big thoughts. The trick is to get more parts on the table.

Ref : "Where Good Ideas Come From", Steven Johnson

Giving the Credit!

A plaque that sat on Reagan's Oval office desk:
"There is no limit to what a man can do, or where he can go, if he doesn't mind who gets the credit."

Ref : "How to win friends and influcence people in the Digital Age"

True Connections!

"We (as a public) seem to believe that the influence comes from the sheer volume of impressions and connections that we have in the marketplace...It doesn't. True influence comes from connecting to the individuals, nurturing those relationships, adding real value to the other [people]s lives and doing anything and everything to serve them, so that when the time comes for you to make an ask, there is someone there to lend a hand. Worry less about how many people you are connected to and worry a whole lot more about who you are connected to, who they are and what you are doing to value and honor them."

Ref : "How to win friends and influcence people in the Digital Age", Mitch Joel quote

Genuine Concern

A young unkempt college student once asked Muhammad Ali what he should do with his life. He could not decide whether to continue education or go out into the world to seek his fortune. It was clear he was leaning toward the latter. "Stay in college, get the education," advised Ali.
"If they can make penicillin out of moldy bread, they can make something out of you!"

Ref: Book How to win friends and influence people in the Digital Age

What's Wrong with the World?

"For in the way you judge, you will be judged; and by your standard of measure it will be measured to you"

Perhaps there is no more memorable example than the prolific British writer G. K. Chesterton's reply to an invitation by the Times to write an essay on the subject, "What's Wrong with the World?"
Chesterton's reply:

Dear Sirs,
    I am.

Reference: How to win friends and influence people in the digital age, pg12

6 Signs You're Failing to Put Your Customers First

1. You're laser-focused on profits
"The money comes from customers," Callaway points out. "Sam Walton used to say there was only one person who could fire everyone in his company including Walton, and that was the customer."
"The only way you can grow is by increasing the number of customers."

2. You let the little things slide
Often, just as in a marriage, it's the little things not the big things that erode a relationship," Callaway says. It's important to keep the same level of service and engagement.

3. If it ain't broke, you don't fix it
Following this bit of conventional wisdom can destroy your forward momentum, Callaway says. "You won't innovate," he says. Instead, he advises, always be looking for ways to do things better. "If you take the position that if it's not broke you won't fix it, your business will stagnate and your competitors will blow past you," he says.
"Businesses slip when you don't think about moving forward. If you don't go forward, you're going backward."

4.  Your philosophy is that the customer is always right
They're not, and when you see a customer acting against his or her own interests, you must say something, Callaway advises. 

5. You avoid problem customers
Many business experts (including me) recommend firing bad customers in order to focus more attention on the better customers--the ones who really help make your business a success. Callaway strongly disagrees. "I think that's the road to the poorhouse," he says. "You have to serve every client." You never know when a good customer will become a bad one or vice versa, he adds. "It's not our job to fire customers, it's their job to fire us if we don't do things right."

6. You're not always completely honest
It's better to be honest all the time, especially since getting caught in a lie is almost guaranteed to lose you a customer.

reference : http://www.inc.com/minda-zetlin/6-signs-youre-failing-to-put-your-customers-first.html

"If you don’t ask, the answer is always no."

Few nice quotes from this interview with Angus Davis of Swipely:

“If you’re going to work with smart people, you want to be as close as possible to them so you can learn from them.”

"If you don’t ask, the answer is always no."

ref : http://www.nytimes.com/2014/04/25/business/angus-davis-of-swipely-on-working-around-flaws.html?_r=0

The Toyota Way - genchi gembutsu

"In my Toyota interviews, when I asked what distinguishes the Toyota Way from other management approaches, the most common first response was genchi gembutsu - whether I was in manufacturing, product development, sales, distribution or public affairs. You cannot be sure you understand any part of any business problem unless you go and see for yourself firsthand. It is unacceptable to take anything for granted or to rely on the reports of others."

Ref: The Lean Startup

Susan Mazza - Source of great leadership

"Ultimately, it is who you are being, not your words, that is the real source of great leadership - the kind of leadership that inspires others to be and do their very best."

The twin thieves that rob progress

"Many of us crucify ourselves between two thieves - regret for the past and fear of the future" - Malcolm S. - Forbes

These twin-thieves in fact rob men of every progress that they are otherwise capable of achieving. For, regret is a wasteful exercise that saps precious energy and fear is an equally unproductive workout that hinders initiative.

Ref : Oasis, The Hindu newspaper, 26-Mar-2014

Excellence is binary!

"Why has no one taught us that excellence is a binary attitude that is or isn't? There are no shades of it!"

Ref: "Of Cabbages and Kings", INSIGHTS, Entrepreneur magazine (Mar 2014)

Do it right, first time, every time!

"Well, if you don't have time to do it right, what makes you think you'll have time to do it over?"

Reference : Seth Godin, "Purple Cow", pg 104

Not all customers are for sale!

"Differentiate your customers. Find the group that's most profitable. Find the group that's most likely to sneeze. Figure out how to develop/advertise/reward either group. Ignore the rest"

Seth Godin, "Purple Cow"

Seth Godin in Purple Cow

"Stop advertising and start innovating"
"...boring always leads to failure"

Vision - a defining trait of entrepreneurship

Vision - One of the defining traits of entrepreneurship is the ability to spot an opportunity and imagine something where others haven't.

Reference: Joe Robinson, Special Feature, Entrepreneur Magazine, February 2014 issue

I want to work with those can teach me

Dilip Kapur (Founder of Hidesign bags) on the connection with Louis Vuitton which picked up a stake in Hidesign in 2007.
"They offered 20 percent. We lowered it to 5 percent because I did not need their money.
I've always said the only people I want to work with are those who can teach me. I don't want to work with those who can grow me or give me money."

Reference: Second Lead, Entrepreneur Magazine, February 2014 issue

Ethical way to do Business

Jeff Hoffman (Founder and Partner, Colorjar) on Ethics and Business...

Ethics is about always doing the right thing. It means making long-term decisions. Lets take an example. Say the customer is mad about a wrong delivery even though it was his mistake. Some people would say, let us not return the money because it was the customer's mistake. That is a short-term decision. The long-term decision says that you can have your money back because we want you to be our customer.
A great example is Zappos. They do this amazing thing. If you don't know what your shoe size is, they will ship you two pairs. Why? Because they trust you as a customer. A lot of people said that they would lose all these shoes because people won't return them. But that did not happen at all. What the customer said wad, "Ethically I feel so honored that you trust me. I will ship the shoes back." So instead of the company saying, "I am going to charge you for two and refund the money," they took the approach of "I trust you and I want you to be happy." And their business won.

Reference: In Conversation, Entrepreneur magazine, February 2014 issue

Wisdom for work - "Be apolitical and non-communal"

Dr Sudarshan Ballal is the Medical Director of Manipal Hospital, one of the biggest in south India.

Some essential learnings that he has acquired can help corporate folks:
"Be a people's person"
"Be apolitical and non-communal"
"Acquire leadership qualities"
"Constantly upgrade your skill-set"
"Do your best, but don't always expect the best results"
"Ethics must not be compromised under any circumstances"

Reference : http://www.bangaloremirror.com/columns/work/Be-apolitical-non-communal/articleshow/29118657.cms

On Listening...

An excerpt by Ralph Roughton mentioned in 'The 8th Habit' book that I am currently reading.

"When I ask you to listen and you start giving advice, you have not done what I have asked.
When I ask you to listen to me and you begin to tell me why I shouldn't feel that way, you are trampling on my feelings.
When I ask you to listen and you feel you have to do something to solve my problem, you have failed me, strange as it may seem.

Listen! All I asked was that you listen; not talk or do -- just hear me... I can do for myself. I'm not helpless. Maybe discouraged and faltering, but not helpless."

Reference : Stephen Covey, Book: 'The 8th Habit', pg 193

Any time you think the problem is out there, that very thought is the problem!

"How easy it is for people to think and feel, "I'm a victim; I've tried everything; there's nothing more I can do; I'm stuck."
My response to their question usually shocks them a little. This is what I say:

"Any time you think the problem is out there, that very thought is the problem."

Reference : Stephen Covey, Book : 'The 8th Habit', pg 128.

Leadership defined

"Leadership is communicating to people their worth and potential so clearly that they come to see it in themselves."

Reference : Stephen Covey, Book : 'The 8th Habit', pg 98

Significant challenges

A quote by Albert Einstein taken from 'The 8th habit' that I am currently reading:

"The significant challenges we face cannot be solved at the same level of thinking we were at when we created them"

Reference: Stephen Covey, Book: 'The 8th Habit', pg 103

Freedom and power to choose our response

From the 'The 8th Habit' book which I am currently reading:

"Between stimulus and response there is a space. In that space lies our freedom and power to choose our response. In those choices lie our growth and our happiness."

Reference : Stephen Covey, Book : 'The 8th Habit', Chp: 'Discover your voice', pg 42

A job pays you for the role rather than what you can do!

From a book which I recently finished reading:

"A job pays you for what the role/designation does rather than for what you can do, which is why the compensation it pays doesn't justify your capabilities. Owning a business sets you free to use the full potential of all your abilities and interests."

Reference : Kanth Miriyala, Book : 'Entrepreneur 5pm to 9am', Preface

50 wise thoughts on business

Matthew Toren of Blogtrepreneur presented a lost of "50 wise thoughts on business that can shed some light on a path to living the life of a bona fide entrepreneur"

Here are my favorite 3:
1. If you don’t build your dream, someone will hire you to build his or hers.

2. Being an entrepreneur is living a few years of your life the way most people won’t so that you can spend the rest of your life the way most people can’t.

3. Building an empire takes passion and determination. Without passion and determination, all you have is business.

Read the complete list at http://feedly.com/k/1aYFlOO

The most successful people operate at the intersection of three things - passion, skill set and opportunity

"If you are an entrepreneur now or are looking to be one, don't be too opportunistic but be a bit more strategic about it.
The most successful people operate at the intersection of three things - passion, skill set and opportunity."

Reference : Avnish Bajaj, Co-Founder and MD, Matrix India, "In Conversation", Entrepreneur Magazine, Jan 2014

Business has only two functions - marketing and innovation

"Milan Kundera has rightfully said: Business has only two functions - marketing and innovation.

I have seen too many startups fail because of their inability to recognize and embrace this crucial fact."

Reference: Ajai Chowdhury, "Ajai's Take", Entrepreneur Magazine, Jan 2014

Selling ice to an Eskimo

"If you know how to pitch it right, even an Eskimo will be game"
"Eskimos don't really need ice machines. But then real need has nothing to do with sales. As long as we can 'create' a need for our products in the minds of our consumers, they will buy."

Lesson 1 - "Sell vanity and status, not the product"
"Our first meeting is with Koda, a 35-year old eskimo who has a wife and a young daughter. He invites us in his house for a demonstration of our machine. I have brought a baby pink machine with me, knowing very well that girls like pink. I can see his wife looking very lovingly at the machine.
I say, Koda, you are a successful man. You need to have this ice machine at home to make your wife happy and for your relatives to realize that you can afford to buy what they could never imagine. If you buy my machine, I promise I will not sell this machine to any of them.
Koda smiles. I have just used the first and basic trick of sales: 
Sell vanity and status, not the product. The image-hungry consumer will buy."

Lesson 2 - "If required, sell fear to sell your product"
"Atka is in his early 50s and lives with his extended tribe members. With a strong and compelling voice, I tell Atka : Sir you are the guardian...and this ice machine of our makes sure that any crystal of ice your tribe eats is safe and absolutely disease-free. A person like you will never take a chance when you know that a safer alternative is available. The tribe and its health come before everything else."

Lesson 3 - "Sell innovation, innovation and innovation"
"Our third meeting is with Hiti. He is a young man who has just started a restaurant and is very busy. It's been difficult to arrange a meeting with him. Inside his rather cold, blue colored restaurant called "Tihi", Hiti barely smiles and asks us to come straight to the point. I request for a glass of water and he beckons the bartender to serve us.
The moment I get my glass, I quickly slip my hand in my jacket and place what I have been carrying inside my pocket, safely into the glass.
These are real ice carvings, fashioned in the name "Tihi".
Hiti is stunned when he sees pretty delicate ice carvings carrying the name of his restaurant floating in our glasses."

"Always remember that sales is not a process or science. It is an art. It is a dedication, a mediation, and a journey that is unique every time you embark on it. When you really want to sell something, just dive into your buyer's souls and they will tell you how to sell to them."

Reference : Alok Kejriwal - Entrepreneur Magazine, "Thinking & Doing", Jan 2014

Be the best, not the biggest!

Fab's CEO Jason Goldberg's thoughts on what went wrong at Fab:

"Fab was supposed to be devoted to design, but the opportunity to grow changed that. Before he knew it, the company had strayed so far from its commitment to design that it had begun selling steaks online.

Goldberg writes that the new goal is to be the best, not the biggest. He writes, "We would rather take it slower and get it right than go too fast.""

Reference: http://www.inc.com/issie-lapowsky/jason-goldberg-what-went-wrong.html

Make one day simply better than the one before!

Fab's CEO Jason Goldberg on what went wrong at Fab:

"We had started to dream in billions when we should have been focused on making one day simply better than the one before it"

Reference : http://www.inc.com/issie-lapowsky/jason-goldberg-what-went-wrong.html

What is this Blog about?

I read a lot of stuff. Books & Magazines; Blogs and articles. This blog will have all the interesting Notes and Quotes from the stuff that I read, so that I can imprint what I read as well as refer to them when needed.

Just the small stuff that matters in life!

Business | Innovation | Entrepreneurial | Life | Management | Leadership