Ensuring you are aligned with respect to values and principles is important for any new relationship – be it a marriage or a business partnership. One of the key reasons that I decided to join TGG is that I share the same overarching beliefs and principles for business management. Some of these principles are:
• Manage with numbers – financial data tells the story; it doesn’t lie
• Get the right people on the bus
• Be an open-book company – share information with your employees
• Focus on yourself not your competition
• Cash is king! (usually)
My experiences with various companies and situations have shaped my adoption of these principles. I know I learned as much from doing it the wrong way as always doing it correctly the first time. As I spoke with leadership at TGG, we all realized we learned many of our business philosophies from books we had read. Our favorite books were remarkably similar too– here are three that guide our principles at TGG every day:
Good to Great (Jim Collins)
• A classic and a great re-read every few years. I think about getting the right people on the bus and the flywheel concept every day.
The Great Game of Business (Jack Stack)
• A business coach ~10 years ago turned me on to this and I’ve used with every new business I’ve managed ever since. People work harder and smarter (increased profitability!) when then know what they are working for.
Managing by the Numbers (Chuck Kremer & Ron Rizzuto)
• I actually didn’t read this until after I joined TGG. But, while basic for more experienced finance and accounting types, it does a great job of explaining and talking through many of the key financial concepts that I use to manage (and advise) businesses.
Just for fun, here are three other books I have read recently and found interesting:
Who – The A Method for Hiring (Geoff Smart & Randy Street)
• I find myself spending much of my time recruiting and this book and methodology provides a great framework to follow.
Titan – The Life of John D. Rockefeller, Sr. (Ron Chernow)
• I love biographies of all types of people. This is fascinating both for the business acumen of Mr. Rockefeller, but also for the dichotomy in his life.
Double Double – How to Double Your Revenue and Profit in 3 Years or Less (Cameron Herald)
• A recent vacation read (I know…). I especially like the framework of planning for growth: setting a goal and working backward in meticulous detail to plot the course. Both the goal setting and the exercise in execution are very valuable. A bonus is some of the personal efficiency tips.