The book gives great insights into management best practices. These I want to share with you. I highly recommend this book to anyone interested in management topics.
The blog post is structured according to the chapters and subchapters in the book.
Chapter 1: Mastering Growth:
„If you can’t afford the people to run the business for you, then all you have is a job, not a business“ Basically get the best people into the boat. Let the details be handled by bright people. The CEO/ founder should have the role of leader and visionary.
b) Systems and Structure
Complexity increases exponentially with growth. It needs systems and structures to manage that growth. Keep in mind to keep informality, an open door policy and group problem solving a priority (at least that’s a priority at YUHIRO)
c) Data Drives Prediction
Structures and systems should be built so as to have stronger predictability. The data delivered should be so strong as to know where the company is heading each day.
d) Top 5 Priorities
For the quarter there should be only 5 top priorities so as to keep everyone on the same page. Problems get fixed faster if everyone is working towards solving it. „It’s amazing what you can accomplish when you get a hundred people all working on just 1 priority, instead of 27“ Balanos of Mostly Muffins (Muffins distribution company).
e) Meeting Rhythm
Have a daily and weekly meeting rhythm so that everyone stays aligned with the goals for the quarter and the year. A daily huddle of not more than 15 minutes per group to celebrate progress towards goals or indentify barriers blocking that progress. Stick to your 5 priorities. These meetings become the pulse of blood flowing through your company.
f) Market Dynamics
Move with the trend and you win; try and ignore a market movement and it can crush you [This section in this book is rather weak so I take the right to enrich it with Jim Collins advice from the book „Good to Great“ : Face the brutal facts of your market]
g) Grow Thyself
The CEO/ founder should grow with the company. The leader might have to take training sessions and get consulting as to finding the right way of leading his corporation. Re-evaluate and re-define your role as the company grows.
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