This book is "Enterpreneurship 101" - in a good way. If you're thinking about starting a business, you'll get a ton of value from having a general overview of what to expect. If you are already a successful business owner, it's always great to go back to the basics.
Hardy's real strength here is in his storytelling. The anecdotes and examples he provides make the book easy to read, and there are plenty of actionable takeaways as well.
Below are my favorite quotes from each chapter:
========== CHAPTER : 1 THE HEIGHT REQUIREMENT
When you simply refocus your mind and attention on who is being served by what you do, why and how you do it, all of a sudden your passion is re-engaged, turned ON, and the entire process becomes more meaningful.
Almost every great achievement began with someone finally getting ticked off, saying, “Enough!” and standing up to fight.
Everyone needs a worthy adversary.
A good enemy gives you a reason to get fired up.
Being successful in business requires an emotional charge. Love is great, but if that charge comes from your desire to right a wrong, fight the good fight, or seek justice, then it’s just as good as love and often even better.
What do you see as an enemy to your industry, your family, your community, or your world?
What positive outcome do you want to see realized as a result of your product, service, or business? Got that image in your mind? Now, what’s the opposite of that? What threatens that? What is the enemy of that? Who or what could stop you from achieving that outcome? There’s your enemy! There’s your epic battle.
When he was asked why he didn’t invest in Internet stocks, he held up his thumb and index finger to make a circle. He said something like, “You see this? This is my circle of competency. I only get involved with opportunities that are inside that circle. If it’s not in there, I don’t invest in it.
“If you’d rather be anywhere than doing your great work on a Saturday morning,” he says, “then you’re probably doing the wrong thing or looking at it the wrong way.”
========== CHAPTER 2: SECURE YOUR SHOULDER HARNESS
“People don’t resent you for being brave. They resent themselves for being afraid.”
We spend most of our lives pursuing success, but I’m not sure we stop often enough and ask ourselves: What does success mean to me?
If I ever felt myself getting caught up in or brought down by what other people thought of me, whether or not they approved of what I was doing (or wearing), all I had to do is ask myself if they would be one of the ten people to cry at my funeral.
All this time, nobody has really been thinking about us at all.
========== CHAPTER 3: FUEL FOR THE MOTOR
Like it or not, the one thing that matters most in determining whether your business succeeds or fails miserably is sales.
The ultimate success of a product or service is 10 percent product quality and 90 percent sales.
I believe the quality of a product or service should be what’s most important, and it should stand entirely on the value it delivers. But that’s just not how it works in reality.
The person who knows how to get, keep, and cultivate a customer gets paid the most. Period.
Every day millions of businesses fail because their owners are hiding somewhere—hiding behind to-do lists, incessant email checking, social media monitoring, mindless meetings, or unnecessary paperwork. It’s time to quit hiding and start selling.
Trust me, you know how to sell—you’ve been doing it your whole life.
Kids are masters of sales. They know how to overcome objections, push through stall tactics, handle rejection, not take no for an answer, and continue to ask for the order… until the deal is sealed (or until they have to be removed by force).
Now more than ever, the fate of your business, your dreams, and your future hinges on your ability to sell better than your competition.
“No one wants to be your next hit, Darren. They don’t want to be your next victim. And when you label them that way, you think of them that way. And when you think of people that way, you treat them that way. They know it and feel it. They can tell.”
He crossed out “HIT LIST,” and with a fast and steady hand wrote, “Families I’m Going to Help Next.”
Before I picked up the phone, I’d look at my list and I’d think about the family I was calling. What did they need help with? Were they struggling in a home they couldn’t afford? Did they need a bigger house now that they had children—one in a better school district? Were they first-time buyers overwhelmed and nervous by the thought of such a large purchase?
As soon as I shifted my perspective, my success rate improved dramatically, and my sales shot up. But the best part of all? I really began to enjoy the process. What had started out as an exercise in sheer brute force had become something I felt good about—for more than just the size of my commission.
what people were really responding to was my misdirected intention. Whereas before I had always thought of sales as a way to get something, I could now see it as a tool for giving.
HELP. How can you help? How does your product or service address someone’s deepest need or fear? What problem does it solve? How does it make a positive difference?
And if what you have doesn’t help? Then you’ve either got the wrong prospect or the wrong product.
I was working with a CEO recently, and he said, “I want my marketing message to speak what is in my heart.” I responded, “No, you don’t.” Have you ever been subjected to someone’s passionate (probably long-winded) pitch about something they’re all fired up about but that you couldn’t care less about?
Sales is not about finding a need and filling it.
Effective sales is about finding a perceived need and helping someone fulfill it.
If the customer doesn’t perceive the need, there is no need.
Pull—don’t push. Investigate—don’t present. Probe—don’t pitch. Ask—don’t assume.
I sold a $ 4 million parking space, a $ 2.8 million gym and spa access pass, and a $ 6 million closet.
in each case he discovered what was most important to each client. Take the parking space, for example. The buyer had vintage cars and had a bad experience in a previous building. John spent an hour explaining the security, safety, and cleanliness of the underground parking. “The buyer couldn’t write the check fast enough,” John said.
John finds his client’s most important desire, need or hot button and connects the solution he has to meet it.
Then, when the time comes to show the unit or “make the sale,” the same unit in the same building that’s been shown many times is transformed into something entirely new, totally different, and completely personalized to the client walking through it in that moment.
Do you connect to your customers by asking questions and genuinely listening to the answers? And if so, do you take the extra step to connect those customers to expertly personalized solutions? Do you take time to drastically adjust your message to meet each individual customer’s needs?
“Cold calls are for rookies and weirdos. Don’t be a rookie or weirdo. Find a relationship bridge.”
Aside from those first few failed candy bar sales attempts, Mark has never sold accounts one by one.
Instead of taking each sale one by one, use the Mark approach and sell in bulk, box by box. Seek out influencers, those who are connected to broader networks of potential customers.
“I lose one out of five for being too aggressive.” She paused for effect, then added, “But I get the other four!”
Spend 90 percent of your time focused on the 10 percent client type.
The key to greater profits is rarely capturing more clients. The key to greater profits is capturing more valuable ones.
“How can we sell magazines not one by one, but by the tens of thousands?”
“Who do we know who is responsible for large networks of people who yearn to be inspired, empowered, and more successful?”
If you could build a dream list, who would be on it? Narrow the universe of available prospects down to that best of the best. Often, your Dream 50 will consist of people you don’t currently even have on your prospect list. You might not have had the courage to write them down before.
========== CHAPTER 4: FILLING YOUR EMPTY SEATS
Entrepreneurs see the potential in everything and everyone, and we are happy to hire on hope alone.
An entrepreneur cannot hire on hope alone.
You need to hire evidence. You do not have the time or the resources to train or develop anyone’s skill or attitude.
You simply need to go recruit people who already have, by evidence, what you need and then place them into your organization.
The average business has about 65 to 80 percent of its operating costs consumed by salaries and wages.
If you add up the cost of recruiting, paying, training, maintaining, and severing a poorly performing employee, along with his or her mistakes, missed opportunities, and failures, the average cost of a bad hire is about 6 to 15 times the person’s annual salary.
A-players want to work where other A-players work. It’s a self-perpetuating attraction mechanism but only if you monitor and protect it closely.
You cannot shape or create the culture.
The culture of an organization evolves around the people who make up the company.
To have a high-performance culture, you need to hire and maintain high-performing people.
“The single most important thing you need to do is pick the right people and keep them. There is NOTHING more important than this.” —Jim Collins
“Your goal is to be the dumbest one in the room. Hire people BETTER than you.”
Here’s what Warren Buffett looks for: integrity, intelligence, and energy.
Are they going to fall in love with Apple? Because if they fall in love with Apple, everything else will take care of itself.
In the same way entrepreneurs like you are reinventing what it means to be in business, employees are looking at work and careers in a whole new way, too.
If you’re soliciting applicants to fill one of the exclusive seats on your ride, the headline should talk about the opportunity to work with other extremely talented, fun, passionate, and high-character people who are fired up about the great mission, challenge, and vision you are trying to realize. Explain how you invest in your people to help them grow, develop, and achieve their goals—professionally and personally. Then (maybe) footnote the compensation package.
Remember this: The bigger your dream, the more important your team. If you have small, unambitious dreams, then you only need a small, unambitious team.
========== CHAPTER 5: RIDING IN THE FRONT SEAT
I am the constraint.
They’re only as fast and disciplined and positive as you are.
people will eventually model and match your behavior, particularly the behavior of the one deemed “leader.”
Who you are, how you show up, how you act, live, and represent yourself is your greatest source of influence, and your people will, without even knowing it, mirror your lead.
You are on stage at all times.
you must look for those small intakes of breath from the quieter members of your team. And when you hear one, gently and persistently encourage that person to speak.
“Whatever you are doing in your business right now,” he told me, “your goal really is to find a way to quit it. You need to stop doing almost everything you do at the office.”
Delegation is a form of quitting. Even if you are the most well-rounded and capable CEO of all time, you are still better off delegating functions to specialists.
except the part of being the visionary leader.”
Your goal is to get enough sales going so you can quit taking out the trash and hire someone else to do it. Get more sales going, then quit doing the accounting.
You want to go from everything to nothing—except leading.
“You want to turn labor into leadership. As the founder and CEO, you should not be doing anything. You should only be leading.”
You’re the head coach, not the player.
“We are a team, not a family. It is the coach’s job at every level to hire, develop, and cut smartly so we have stars in every position.”
========== CHAPTER 6: PICKING UP SPEED
“I’ve figured out that every endeavor that you do has a few vital functions. All you have to do is figure out what they are and become excellent at them.”
What’s the big secret of how to get it all done? Don’t. Just do the vital functions (amazingly well) and build a great team of capable players who are excellent at the rest
I challenge you to take on the stopwatch. Once you identify what your vital functions are, start tracking how much time you actually spend doing them. You will be shocked at how little time you’re spending on the most important things, the only things, you should be spending your time on. If you make it your mission to increase that number, you’ll change your business and your life.
What’s your income goal for the year? $ 100,000? $ 500,000? $ 1,000,000? Divide that number by 2,000.
The number you get is the hourly rate you have to generate over a 40-hour week in the next year.
If you’re falling short of your income goals, it’s because you waste time doing low-value work. That’s it. That’s the only reason.
You need to delegate everything anyone else can do at a lower rate to free up every minute possible for you to do your vital functions.
“Would I pay someone (the hourly rate you just determined above) to do what I’m doing now?”
If your answer is “no,” then stop doing it yourself. It’s costing you money. You can’t afford to do it. You have to delegate.
delegation requires humility. A recognition that you aren’t the only one who can do something well, quickly, and competently. Stop being a narcissist and let go.”
And I figured out it was the 22 minutes on Sunday—that broadcast that then gets shot around the world.
But when you have too many priorities, like the lion, you become paralyzed
Vital Functions are your key contributions to the success of the organization or goal. Vital Priorities are the day-to-day or quarter-to-quarter areas of focus and tasks required to accomplish the goal.
my three Vital Functions at SUCCESS are keynote speaking to large audiences; creating, editing, and curating content; and public media representation.
Vital Functions are those few “rain making” roles you have and Vital Priorities are the important tasks you are focused on to fulfill those functions.
“No amount of money would matter. Right now, Richard has three strategic priorities he is focused on, and he will only allow us to allocate his calendar to something that significantly contributes to the accomplishment of one of those three priorities, and speaking for a fee is not one of them.”
a recurring theme in superachievers: having three (or fewer) strategic priorities.
There’s no minor project list. There’s no maybe we’ll get to this list. There’s no side project list. There are only three priorities, and everything else is thrown out so all mental, financial, and spiritual resources can be fully invested into those three, and only those three, priorities.
“People think focus means saying ‘yes’ to the thing you’ve got to focus on. But that’s not what it means at all. It means saying ‘no’ to the hundred other good ideas that there are. You have to pick carefully. [Success] is saying ‘no’ to 1,000 things.”
Impact became the thing I measured to discover when I was on course and when I was off.
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These are the three goals that if you achieved them, would make this year, undeniably, the best year of your life.
The key is to identify the one or two key habits that are most important to the achievement of each of your BIG 3 goals.
We need to bring awareness to our unconscious behaviors, and only tracking will make that happen.
It takes less than thirty seconds to review your BIG 3 and the half dozen key habits you planned to execute each day. Check off each one:
We don’t fall off our workout schedule, our diet, our resolutions, our goals—we drift. We drift ever so slightly and slowly without realizing it.
Do what other superachievers do and narrow your list down to three big goals that, if reached, would make this the best year of your life. Then identify the key behaviors you need to do each and every day to support those goals, and track your progress each and every day to prevent drift.
You don’t succeed just by learning. You have to study, then do. We need to learn less and do more.
There is a significant difference between learning and improving, and the difference is taking action and producing measureable results.
each quarter I figure out what skill is most needed to advance my BIG 3 goals, and I then attack it. I buy the top five books on the topic, the top three audio or video programs on the topic, and sign up for (at least) one seminar focused on that skill. Then I spend the quarter studying, practicing, and tracking my improvement on that vital skill.
I was told by Brian Tracy that every dollar you invest in your personal development adds thirty to your bottom line.
they know that investing in themselves is what got them to where they are, and they know they need to keep doing it to grow and stay at the top of their game.
I’m a big believer in finding someone or something that works for you and going deep with it.
Attending the same workshop that I already knew was great, led by someone I already respected and aligned with philosophically, was far better for me than attending six different seminars.
Those new events would have done more to perplex my mind than they would have done to deepen my understanding of the existing principles of success I already knew to work.
I see people dig too many shallow holes and wonder why they never strike oil. Instead, once you dig a hole that has oil in it (find someone or something you like), keep drilling—go deeper. Mine that well for all it’s got.
Your success vitals boil down to one simple concept: Decide on a few critical things, do them more often, then get better at them.
Maybe you need to boss yourself around a little more.
========== CHAPTER 7: HANDS IN THE AIR
Most people never live up to the potential they have been given.
The results they produce and the life they experience are only a tiny fraction of what they are truly capable of. Why? What stops us? Only one thing: fear.
“If I do this, am I going to die?” If the answer is no, then your fear is made up,
Do this: Shut off your brain. Close your eyes, hold your breath (if you need to), and do what every signal of your brain is insisting you don’t do—RUN RIGHT AT IT!
Think of everything you could accomplish if you forced 20 seconds of bravery on your primitive mind just three times a day?
In most businesses, whoever can fail the most, the fastest, and the biggest wins.”
“most people figure out how to operate in a narrow comfort zone. They can only allow the pendulum to swing a small distance into pain, rejection, and failure, thus they only experience the same small degree of joy, connection, and success
I was willing to be a massive failure, and I ended up loving it. In fact, it became quite addictive because I knew it was the controlling factor in my greater success.
========== CHAPTER 8: SMILE FOR THE CAMERA
“I had houses. Too many houses. What I needed was more people. More relationships.”
The point is enjoying the ride.