Skills for Success

You Too Can (and Must) Become Effective // Summary of Peter Drucker’s The Effective Executive

May 30, 2017 By Nagesh Belludi Leave a Comment

Peter Drucker (1909–2005) is widely regarded as the most outstanding thinker on the subject of management theory and practice. He was amazingly prolific—he produced 39 volumes on management and leadership and worked right until his death a week before his 96th birthday.

Drucker’s The Practice of Management (1954) played a pivotal role in the recognition of management as a professional discipline. In this influential book (see my summary here,) Drucker explained what management is and how managers do their jobs.

In his bestselling The Effective Executive (1967,) Drucker defined effectiveness as getting the right things done and efficiency as making resources productive. His pivotal message was that effectiveness must be learned because effectiveness is every manager’s job. That’s what are managers get paid for—“the executive is paid for being effective.” Moreover, “Effective executives know that their subordinates are paid to perform, and not to please their superiors.”

Five Practices of the Effective Executive

Drucker devotes five chapters of The Effective Executive to five practices that have to be acquired to be effective. Introducing these effectiveness practices, Drucker writes, “Whenever I have found a person who—no matter how great in intelligence, industry, imagination, or knowledge—fails to observe these practices, I have also found an executive deficient in effectiveness.”

Effectiveness Habit #1—Know Where Time Goes: “Time is the scarcest resource, and unless it is managed nothing else can be managed.” In addition, “Effective executives know where their time goes. They work systematically at managing the little of their time that can be brought under their control.” Using the three-step time logging, time analysis, and time budgeting practice, effective executives know where there time goes. They exert themselves to make certain that they invest their time in line with their values and priorities.
Effectiveness Habit #2—Focus on Contribution: Whatever your span of responsibilities—supervisory, managerial or leadership—you are accountable to your ‘external’ stakeholders. These stakeholders measure your performance solely by your ability to identify opportunities and get things done through the resources you have. Drucker writes, “Effective executives focus on outward contributions. They gear their efforts to results rather than to work. They start out with the question, ‘What results are expected of me?'” Effective executives have a clear understanding of their contribution and their results.
Effectiveness Habit #3: Make Strengths Productive: “Effective executives build on strengths—theirs and others. They do not build on weaknesses. They do not start out with the things they cannot do.” Effective executives understand and build on the strengths of themselves, their team, and their organization to make everyone productive and to eliminate weaknesses. The only weaknesses that have a bearing—and must be remedied—are the ones that hinder effective executives from exercising their strengths.
Effectiveness Habit #4: Live Priorities: “Effective executives concentrate on superior performance where superior performance will produce outstanding results. They force themselves to stay within priorities.” Setting priorities is easier; the hard part is sticking to the decision and living the priorities. To get things done, focus on one task at a time or two at the most; three is usually impractical.
Effectiveness Habit #5: Systemize Decision-Making: “Effective executives make effective decisions. They know that this is a system—the right steps in the right sequence. They know that to make decisions fast is to make the wrong decisions.” For Drucker, decision-making was a matter of wisdom and sound judgment—making a choice between alternatives but seldom between mere right and mere wrong. “The sooner operating managers learn to make decisions as genuine judgments on risk and uncertainty, the sooner we will overcome one of the basic weaknesses of large organizations—the absence of any training and testing for the decision-making top positions.”

Idea for Impact: Teach yourself to become effective. Commit these five tasks to memory and practice them. Read The Effective Executive—it will have a profound effect on your performance.

Good Questions Encourage Creative Thinking

May 23, 2017 By Nagesh Belludi Leave a Comment

Thought-provoking questions: potential game changers that are not asked nearly enough

“To think creatively, we must be able to look afresh at what we normally take for granted,” wrote George F. Kneller (1909–1999), the American academic and pioneer in the field of philosophy of education, in Art and Science of Creativity (1965.) Many people don’t know how to probe their thought processes with questions that encourage creativity.

Consider a brainstorming meeting where a new idea was received with comments and judgments like, “this won’t work,” “we’ve never done it this way,” “the customer won’t like it,” or, “if this is such a great idea, why hasn’t it been done before?” Immediately, a dysfunctional pattern ensues. Defensiveness sets in and the meeting’s participants will resist making any more suggestions and will fail to explore those ideas that were previously made. (One of the key principles of “divergent thinking” for idea-generation is to defer judgment. Neuroscience has suggested that the human prefrontal cortex—the self-monitoring element of the brain—is less active when we’re most creative.)

Creative thinkers ask open-ended, accommodating, and exploratory lead-in questions such as,

“I wonder if/why/whether … “
“Perhaps we could … “
“That would work if/when … “
“In what ways can we … .” This favorite of mine was introduced by Edward de Bono, the lateral thinking pioneer and creator of the “Six Thinking Hats” method for group creativity. De Bono called this lead-in question the ‘IWW.’

Instead of declaring “we could never do this,” ask “IWW (in what ways) may people start to do this?” In practical terms, this rephrasing may seem a small thing, but it embodies a leap in unhindered, open-minded thinking. The former seems a categorical rejection; but the latter invites an exploration of possibilities and signals the beginning of the search for solutions to constraints.

Idea for Impact: The ability to pose meaningful—and often deceptively simple questions is the hallmark of creativity

Often, what leads a creative person to get fresh insight is the quality of questions he/she asks. Questions such as “I wonder if …” and “In what ways can we … ” ignite dialogues in your mind that can lead to creative insights and new discoveries.

The prospect for creative thinking expands when you can reframe restraining statements into creative questions. Consider the following examples:

Restraining statement: “We can’t possibly do that.”
Creative question: “If it were possible, how would you do it?”
Restraining statement: “It’ll take too long.”
Creative question: “If it’s time-consuming, how can I make it short?”
Restraining statement: “I can’t talk to her.”
Creative question: “If you could talk to her, what would you say?”
Restraining statement: “I’m too busy to do this.”
Creative question: “In what ways can we free up some time for you?”

During brainstorming, asking questions in a way that opens participants’ minds to newer possibilities can have a transformative shift in the creative atmosphere. When participants suspend their judgments, everyone in the brainstorming session will feel comfortable enough to explore creative solutions to constraints.

What it Takes to Be a Hit with Customers

May 19, 2017 By Nagesh Belludi Leave a Comment

Be Trustworthy. One of the most important aspects of being effective at work is earning and upholding others’trust through your actions, not through your words. You earn trust slowly but can lose it in a moment—as Warren Buffett often reiterates, “It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you’ll do things differently.” Idea for Impact: Earn trust by making and honoring your commitments. Do what you commit to. Act with integrity. Do the right things for the right reasons.
Be Responsive. We live in a time and age of “instantaneous gratification.” People want immediate results—without delay or deferment. They don’t expect to wait. And if they have to wait on you, their resentment grows. Alas, responsiveness affects how people perceive you. If you’re slow, your customers will suppose you are indifferent or incompetent. If you respond promptly, they’ll assume you’re proficient and on top of your work. Idea for Impact: Respond immediately to requests unless there is a judicious reason to wait.
Be Strong, But Flexible. Respect the rules and traditions but be adaptable to changing conditions. Be watchful and absorb from whatever you can learn—as General Electric’s celebrated ex-CEO Jack Welch once wrote, “The desire and the ability of an organization to continuously learn from any source—and to rapidly convert this learning into action—is its ultimate competitive advantage.” Idea for Impact: Flexibility with rules can be pragmatic in its own right. Learn to make rational decisions by balancing facts and emotions.
Be Realistic, Not Overly Optimistic. Self-help gurus and the media have endlessly touted optimism as the “winning formula to success.” This obsession with cheerfulness has reinforced a false sense of realism and pragmatism. Optimists tend to overlook the reality—they develop a false sense of hope and become too attached to the possibility of positive outcomes. Unfortunately, realists are branded as skeptics and skeptics are quickly shunned as outcasts. Idea for Impact: Take an honest and levelheaded view, no matter what the problem. Embrace the possibility of failure. Plan for the downside. Don’t get caught up in trivial details.
Be Likeable and Interested. Highly competent but unlikeable people do not succeed as well as their fairly competent but likeable counterparts. The American poet and memoirist Maya Angelou aptly said, “I’ve learned that people will forget what you said, people will forget what you did, but people will never forget how you made them feel.” Idea for Impact: Be pleasant, enthusiastic, and friendly—make eye contact, smile, and say ‘hello’ more. Listen. Be open and approachable. Appreciate the individuality of people. Try to be interested, not just interesting.
Be a Good Salesperson. Much of success in life—from getting a Starbucks barista to make a special no-whip, extra-foam latte with half a packet of Splenda to finding a spouse—is really about selling yourself. Every selling situation involves making a connection with an individual who likes and trusts you. An anonymous sales guru once said, “All things being equal, most people would rather buy from somebody they like… and that’s true even when all things aren’t equal.” Idea for Impact: It is useless to work hard and be creative unless you can also sell what you create. Learn to be persuasive. You can’t just talk people into things.
Be Visible and Communicate Candidly. How you identify and respond to a problem or a crisis is the ultimate test of your character. If you do not communicate frequently, people will develop their own perceptions of the problem and its implications. Knowing when to step up your communications efforts to the right levels during difficulties can be a powerful tool in problem solving. Idea for Impact: Keep your eyes open for customers’ inconveniences, difficulties, and troubles as creative problems to be solved. Focus on problem solving. Be visible. Communicate and lead from the front. Learn how to handle upset customers.

Postscript: This Harvard Business Review article argues that, more than anything else, customers want just a reasonable solution to their expectations. Delighting them by “exceeding their expectations” hardly enhances customer loyalty.

Crucible Experiences Can Transform Your Leadership Skills

October 18, 2016 By Nagesh Belludi Leave a Comment

In Geeks and Geezers (2002), renowned leadership academic Warren Bennis and management consultant Robert Thomas interview 40 “geeks” (aged 21–34) and “geezers” (aged 70–82) to evaluate differences in their leadership values and success patterns.

The two groups vary in backgrounds, ambitions, and their role models. The geeks are more concerned with work-life balance than the geezers. The geezers formed their characters during the Great Depression and World War II and hence hold Franklin Roosevelt, Gandhi, Lincoln, Mandela, Kennedy, and Churchill as leadership role models. In contrast, the geeks tend to model themselves after their parents, friends, bosses, and co-workers.

Leadership “Crucibles”: Pivotal life-changing experiences that alter your thinking and actions

The statistics and analyses of geeks and geezers are a gross distraction from the book’s central idea: that all potential leaders must pass through a “leadership crucible” that provides an intense, transformational experience. Only after they “organize the meaning” of and draw significant lessons from their crucible experiences can they become leaders. They must also cultivate complementary leadership skills such as adaptive capacity and the ability to engage others by creating shared meaning, voice, and integrity.

All geeks and geezers interviewed by the authors had one thing in common: each had at least one leadership crucible. The authors explain that each experience was “a test and a decision point, where existing values were examined and strengthened or replaced, where alternative identities were considered and sometimes chosen, where judgment and other abilities were honed.”

The best leaders excel in their ability to create meaning out of adversity

Geeks and Geezers lays monolithic emphasis on the role of transformational crucible experiences in building leadership skills. The authors conclude that such experiences shape a leader; therefore, “great leaders are not born but made—often by tough, bitter experience.” The book implies that most leadership development initiatives (selection, training, mentoring, job rotation, etc.) are not as effective as they are touted to be. The book advises would-be leaders to develop themselves by seeking out crucible experiences at work, school, or in their communities to maximize their leadership potential.

One meaningful takeaway from Geeks and Geezers is a contemplative exercise: to reflect on some crucible experiences in the reader’s life and examine what he/she has learned from them. The reader may be able to create his/her own story and find his/her “leadership voice.”

Recommendation: Skim. Read the final chapter. Beyond the authors’ anecdote-heavy “research,” Geeks and Geezers will engage readers in interesting case studies of successful men and women who moved beyond the constraints imposed by trying circumstances and reshaped themselves. However, most of Geeks and Geezers lacks substance and practical application, especially in comparison to co-author Bennis’s bestseller On Becoming a Leader.

Beware of Advice from the Superstars

October 4, 2016 By Nagesh Belludi 1 Comment

Steve Jobs’s Eschewal of Market Research

Apple’s Steve Jobs said in a 1985 interview, “We built [the Mac] for ourselves. We were the group of people who were going to judge whether it was great or not. We weren’t going to go out and do market research.”

Twelve years later, he famously told BusinessWeek: “It’s really hard to design products by focus groups. A lot of times, people don’t know what they want until you show it to them.”

Throughout his illustrious career, Jobs eschewed market research and relied on his intuition. The aforementioned two quotes have become as legendary as the highly opinionated man himself. Reiterating Steve Jobs’ talent to see the needs of consumers before they themselves could, Apple’s Chief Design Officer and co-creator of Apple’s iconic products Jonathan Ive stated, “We don’t do focus groups—that is the job of the [product] designer. It’s unfair to ask people who don’t have a sense of the opportunities of tomorrow from the context of today to design.”

Take Away: Alas, many people who venerate Jobs have taken his message as a pretext to downplay the need for consumer research. Jobs may be correct, but his assertion is perhaps confined to the kind of pioneering products and services he introduced at Apple and Pixar. Most people who claim to be inspired by this lesson from Jobs’s career neither work in the narrow consumer electronics domain nor have their hero’s brilliant intuition and an extraordinarily gifted creative team to sidestep market research and customer input.

Stephen King’s Disdain for Outlines in Writing

In the bestseller On Writing, celebrated American author Stephen King famously states that he never uses an outline to organize his thoughts. He describes the routine of outlining as “the good writer’s last resort and the dullard’s first choice. The story which results from it is apt to feel artificial and labored. … I don’t take notes; I don’t outline, I don’t do anything like that. I just flail away at the goddamn thing.” King advised other writers to keep from using outlines.

Take Away: Legions of King’s fans assumed that since this technique works so well for him, it must work for them too. Alas, they were mistaken: they aren’t as talented as him and cannot work without generating a detailed outline for a road map of creative writing. What works for writers—amateurs and professionals—is the advice of Terry Brooks, another famous American author, who wrote in his Sometimes the Magic Works, “Perhaps the best reason of all for outlining is that it frees you up immeasurably during the writing process to concentrate on matters other than plot.”

Sheryl Sandberg’s Privileged Work-Life Balance

Facebook’s Sheryl Sandberg wrote a prominent career advice book and feminist manifesto called Lean In. Sandberg urges women to fight for gender equality and be assertive to achieve career success.

Sandberg’s writing has been criticized for being out of touch with the reality that most women face. She establishes much of her “you-can-do-it-too” counsel on her own experience as a successful woman who’s balanced her career and family through high profile jobs at Google and Facebook.

Take Away: Few people come from as privileged a socio-economic background as Sandberg to obtain two Harvard degrees, get an illustrious mentor at college, work on prestigious research projects at the World Bank, and acquire hundreds of millions of personal wealth by their mid-careers. Few women can aspire to be as fairy-tale affluent, talented, and privileged as Sandberg. Few can afford to hire assistants and domestic help to help balance the demands of personal and professional life. Few people have the benefit of working in the upper echelons of progressive corporate environments such as those at Google and Facebook that make it as conducive to “lean in” like her.

What Worked for Them Won’t Work for You

If you read about how successful people get successful, remember that the career advice that works for the superstars is not necessarily what will work for most ordinary folks. So, don’t be misled by their “it worked for me” advice.

If a specific technique worked for Steve Jobs, Stephen King, Sheryl Sandberg, or anybody else who gives you advice, don’t assume it will work for you too. Alas, you are likely not as naturally brilliant, gifted, endowed, or disposed as they are. Neither are you as privileged to have access to the resources they can tap into.

In addition, in giving advice, superstars tend to understate—perhaps intentionally—the role that circumstances played in their success. On balance, much of success in life is a product of luck—being at the right time, at the right place, with the right people. Alas, what worked in their circumstances may not work in yours.

The Buddha taught prudence in such matters. He asked disciples to do what he taught only if it worked in the context of their own lives. He encouraged disciples to listen to his ideas, mull them over, try out what made sense, subsequently adapting what worked, and discarding what did not work.

The best way to educate yourself is by exposing yourself to a variety of success principles. Observe the top performers in your field. Then, identify, emulate, and adapt their effectiveness techniques to your circumstances. (See my previous article.)

Idea for Impact: Expose yourself to many success principles and consider what qualities, attributes, mental models, or approaches to life you may want to assimilate into who you are, even in part. Don’t expect to blatantly imitate a hero and expect the same outcomes: BE YOURSELF.

How to Give Project Updates to Top Management and Ask for Help [Two-Minute Mentor #7]

August 5, 2016 By Nagesh Belludi Leave a Comment

Top management is continually besieged with information and requests from across the organization. This makes it difficult to get their attention, especially when you need their intervention on a project.

To be effective in providing project updates to top management and seeking their help, it’s important to cut to the chase, simplify your message, and be brief.

Tell them where you are now in relation to the goals of your project. Don’t expect the big bosses to ferret up-to-date information about your project. Anticipate their questions and be ready with supporting data.
Tell them where you’re headed. Present your plans and tell them where you stand in relation to those plans.
Tell them how you’ll know when you’ve arrived at the goal.
Tell them how you plan to get where you’re going. Provide enough context to help the big bosses understand the challenges you face.
Tell them where you need their help and intervention. “Boss, we have conflicting customer specifications. I need your guidance about setting priorities.” Mention your recommendations and seek agreement. “Here is our recommended approach to the problem. Do you concur?”

Books I Read in 2015 & Recommend

December 23, 2015 By Nagesh Belludi Leave a Comment

In addition to a number of Rick Steves’ and Lonely Planet books for my summer-long travels across Europe, here are a few books that I read in 2015 and recommend.

Biography / Business: Brad Stone’s The Everything Store: Jeff Bezos and the Age of Amazon is an engrossing chronicle of the obsessive hard-driving personality of its founder-CEO and the company that has played the pivotal role in the shift from brick-and-mortar retail to online retail.
Biography / Leadership: Starbucks founder Howard Schultz’s Onward: How Starbucks Fought for Its Life without Losing Its Soul is an interesting depiction of Starbucks’ turnaround after Schultz returned as CEO in 2008. Read Onward for a case study of the founder’s syndrome in action and a self-congratulatory portrait of a charismatic entrepreneur and brilliant corporate cheerleader. Read my summary.
Biography / Business: Ashlee Vance’s Elon Musk: Tesla, SpaceX, and the Quest for a Fantastic Future is a biography of America’s current most audacious entrepreneur and Silicon Valley’s most prominent innovator. While the book details Musk’s bold leadership decisions, it also serves as a great reminder of how an extreme personality and intense success are not without their costs. Read my comments.
Decision-Making: Phil Rosenzweig’s Left Brain Right Stuff delineates distinct but complementary skills required for making winning decisions: logical analysis and calculation (left brain skills) and as well as the willingness to take risks, push boundaries, and go beyond what has been done before (right brain skills.)
Biographies / Mental Models: Physicist and Nobel Laureate Richard Feynman’s scientific curiosity knew no bounds. His academic life, acuity, life-philosophy, and ability to communicate science are inspirational to anyone pursuing his/her own life’s fulfillment. The following biographies capture his many scientific achievements, playfulness, varied interests and hobbies, and—perhaps most notably—his many eccentricities.

Biography / Business: Sam Walton’s bestseller autobiography Made in America is very educational, insightful, and stimulating. Walton inspired legions of other entrepreneurs who thrive on managing costs and prices to gain competitive advantage. Read about an important lesson from this book about cost and price as a competitive advantage.
Decision-Making: Suzy Welch’s 10-10-10 Rule advocates considering the potential positive and negative consequences of all decisions in the immediate present, the near term, and the distant future: or in 10 minutes, 10 months, and 10 years. Read my summary.
Biography / Mental Models: Walter Isaacson’s A Benjamin Franklin Reader is an excellent collection of the writings of Benjamin Franklin, one of America’s most beloved founding fathers. Franklin was a polymath renowned for his lifelong quest for self-improvement.
Philosophy: Pico Iyer’s The Art of Stillness argues the importance of taking a timeout from busyness. Iyer contends, “In an age of speed … nothing could be more invigorating than going slow. In an age of distraction, nothing could feel more luxurious than paying attention.” Read my summary.
Biographies / Art / Philosophy: Steven Naifeh and Gregory Smith’s Van Gogh: The Life and Michael Howard’s Van Gogh: His Life & Works in 500 Images paint a vivid picture of the artistic genius and the troubled personal life of Vincent van Gogh. Ever Yours is an absorbing anthology of correspondence between Vincent and his brother Theo. Ever Yours sheds light on Vincent’s shifting moods, turbulent life, and philosophical evolution as an artist.
Management: Ken Blanchard and Spencer Johnson’s One Minute Manager is a best-selling introductory business book about goal-setting and giving feedback. Read my summary.
Biographies: Tenzing Norgay’s autobiography Man of Everest and Yves Malartic’s Tenzing of Everest portray the personal triumph of a poor and illiterate but ambitious, deeply religious explorer.

On a related note, read my article about reading hacks: How to Process that Pile of Books You Can’t Seem to Finish. Also see books I read in 2014 & recommend.

Creativity & Innovation: The Opportunities in Customer Pain Points

September 15, 2015 By Nagesh Belludi Leave a Comment

The Opportunities in Customer's Pain Points

Ellis Paul Torrance, the American psychologist who devoted his career to researching and teaching creativity, observed that “the process of sensing gaps or disturbing missing elements and formulating hypotheses” is pivotal to the creative process.

This is especially true of solving customer’s problems. Many innovative ideas are born of a reliable formula: prudent attention to and empathy with customers’ experiences, as well as applying resourceful imagination to solve customers’ pain points.

Many an innovator—either as a provider or as a consumer—develops deep empathy for customers’ pain points and sees an underexploited customer-need for convenience. The innovator contemplates, “This customer’s experience does not have to be expensive, protracted, hard, or inferior, as it is with the incumbent provider.” The innovator then uses his/her imagination to convert that understanding into a business idea with broad potential.

Consider the following cases of innovation that could be traced back to customer pain points:

Crispy Potato Chips. Legend has it that in the 1850s, Chef George Crum of New York’s Saratoga Springs created potato chips. A cranky customer at Moon’s Lake House frequently sent Crum’s fried potatoes back to the kitchen complaining that they were mushy and not crunchy enough. To appease the customer, Crum sliced the potatoes as thin as possible and deep-fried them. The customer loved them. Before long, “Saratoga Chips” became popular throughout New England.
Airtight Packaging for Potato Chips. When potato chips were first mass-produced for home consumption, they were packaged and distributed in metal containers, in which the chips would quickly go stale. During the 1920s in Monterey Park, California, Laura Scudder conceived of packaging potato chips in sealed bags. Scudder’s employees ironed wax paper into the form of bags and fill them up with potato chips. This airtight packaging not only kept the chips fresh and crisp longer, but also reduced crumbling. After the invention of the moisture-proof cellophane wrap by DuPont a few years later, chips were packaged in polymer bags. Then, nitrogen gas was blown in to prevent oxidation, extend shelf life, and prevent chips from being crushed as they were handled and distributed.

Netflix. At the video rental chain Blockbuster, customers who were paying the most in late fees were also the company’s most prolific renters. Even as they continued to patronize Blockbuster, these customers vented their frustration to Blockbuster’s employees, as well as to other existing and potential customers. In fact, in the ’90s, almost $300 million or 20% of Blockbuster’s pretax profit came from late fees. In 1997, Reed Hastings, one devoted Blockbuster customer, was charged $40 in late fees on a VHS tape of the movie Apollo 13. Frustrated by his fees, Hastings started Netflix, a mail-distribution movie-rental service. As soon as the business caught on, Hastings eliminated late fees. Netflix grew quickly, drove Blockbuster into bankruptcy in 2010, and is now valued at $50 billion.
Google News. After 9/11, Google engineer Krishna Bharat and his teammates repeatedly visited ten to 15 news sites looking for a wide range of news reports. Using Google’s legendary “20% Time” policy that allows employees to spend one day a week on side projects and collaborate beyond their immediate teams, Bharat wrote an artificial intelligence software to crawl thousands of news websites, cluster news articles based on topics and keywords, and aggregate a summary. Other engineers at Google loved Bharat’s prototype software and joined the effort to build Google News.
Corning’s Gorilla Glass for Smartphones. By 2007, cell phone makers and consumers were frustrated with the screens on their cell phones. The plastic screens broke too easily when the handsets were dropped, and keys and other objects left deep scratches. Sensing a business opportunity, some engineers at Corning dug into their corporate archives. They dredged up the formulation of a super-strong, flexible glass, Chemcor, which was unsuccessfully prototyped for automobile windshields during the 1960s. The engineers spent $300,000 to produce a trial run of Chemcor and discussed the results with cell phone manufacturers. The resulting cell phone glass was called Gorilla Glass and was widely adopted by Samsung, LG, Motorola, and other cell phone manufacturers. Gorilla’s thinness, strength, and resistance to scratches became the defining feature of touch-screen operation. Later Gorilla Glass became a core component on the iPhone, smartphones, tablets, and other portable devices. For Corning, Gorilla Glass has become a significant revenue stream.

Uber. In 2008, during a snowy night on a trip to attend a tech conference in Paris, American entrepreneurs Garrett Camp and Travis Kalanick had trouble getting a cab. Garrett purportedly said in frustration, “Why can’t we just tap a button and get a ride?” Before long, during a brainstorming session on ideas for new startups, Camp and Kalanick thought of starting a taxi company with a smartphone app to summon taxis. Instead, they built an app to hail taxi-rides on-demand and opened their app for use by established taxi companies as well as by casual autonomous drivers. In 2010, they launched UberCab in San Francisco. Uber is now worth $50 billion and operates in over 300 cities around the world.

Idea for Impact: Transform Customer Pain Points into Customer Delight

Customer pain points are a consistent pointer to potential opportunities not least because customers are usually willing to pay a premium to have their frustrations with a product or a service resolved.

Discover what opportunities may exist in your customers’ pain points. Examine product- and service-features that your customers find inadequate, more urgent, unpleasant, frustrating, or otherwise troubling. Consider how you could transform those product- and service-deficiencies into innovative features.

Don’t just satisfy customers; delight them by becoming more sensitive to their problems and reducing or eliminating their pain points.

Books I Read in 2014 & Recommend

January 12, 2015 By Nagesh Belludi Leave a Comment

Other than a number of Rick Steves’ books for my summer-long travels in Europe, here are a few books that I read in 2014 and recommend.

Even though I read few works of fiction, I read a number of Agatha Christie’s “Poirot” books, including the enthralling “Death on the Nile”. Christie describes her characters brilliantly with superb detail.

Books on Business, Operations, & Finance

Atul Gawande’s ‘The Checklist Manifesto’ on eliminating errors, improving safety, and increasing efficiency by adapting checklists, standard operating practices, and work instructions.
Steven Johnson’s ‘How We Got to Now: Six Innovations That Made the Modern World’ explores how seemingly simple inventions cause huge societal shifts through the unintended consequences of collaboration and context. For example, the chapter on “Glass” narrates how the Gutenberg printing press led to lens-making, which in turn led to eyeglasses, telescopes and space exploration, microscopes and biology, fiberglass and fiber-optic cables, mirrors, cameras and the present-day selfie obsession.
Eric Schmidt and Jonathan Rosenberg’s ‘How Google Works’ is a firsthand account of the distinctive ecosystem, culture, people, and decision-making inside one of the world’s most admired companies.
John Mihaljevic’s ‘The Manual of Ideas: The Proven Framework for Finding the Best Value Investments’ describes nine template-themes of value investing strategies along with case studies, checklists, and screening tools.
Cristiane Correa’s ‘DREAM BIG: How Jorge Paulo Lemann, Marcel Telles and Beto Sicupira Acquired Anheuser-Busch, Burger King and Heinz and Revolutionized Brazilian Capital’ discusses 3G Capital’s approach to buying companies (including Tim Hortons in 2014; Coca-Cola, Campbell Soup, or PepsiCo are rumored to be next) and then implementing an aggressive management template that’s obsessive about slashing operating costs and expanding organizational efficiency.

Books on Skills for Success

Susan Cain’s ‘Quiet: The Power of Introverts in a World That Can’t Stop Talking’ on how the world excessively and misguidedly admires extroverts, but should also encourage and celebrate the particular talents, abilities, and dispositions of introverts.
Jocelyn K. Glei’s ‘Manage Your Day-to-Day: Build Your Routine, Find Your Focus, and Sharpen Your Creative Mind’ is a compilation of essays on time management, organizing routines, and work-life balance from various authors.
Russ Roberts’s ‘How Adam Smith Can Change Your Life: An Unexpected Guide to Human Nature and Happiness’ is an interpretation of Adam Smith’s less known book, “Theory of Moral Sentiments”
B. H. Liddell Hart’s ‘Why Don’t We Learn from History?’ on the didactic value of history and on the significance of acting on principles deduced from learning from other people’s experience.
Gerd Gigerenzer’s ‘Risk Savvy: How to Make Good Decisions’ describes the many ways we characteristically misjudge risk and how we make bad decisions because we misunderstand risk.
Garth Sundem’s ‘Beyond IQ: Scientific Tools for Training Problem Solving, Intuition, Emotional Intelligence, Creativity, and More’ on how to develop brain power in competencies such as creativity, willpower emotional intelligence and intuition—skills that are not measured by standardized intelligence (e.g. IQ) tests.

Four Timeless Books I Re-Read Every Year

Benjamin Graham’s “Security Analysis”, Benjamin Graham’s “The Intelligent Investor”, and Phil Fisher’s “Common Stocks and Uncommon Profits” discuss two complementary schools of investment analysis. Graham’s quantitative approach to value investing comprises of buying stocks below what they are worth and then selling them once they are fully priced. In contrast, Fisher’s qualitative approach to growth investing considers the intangibles (products and services, management, competition, growth prospects, etc.) and paying a premium for growth. Graham’s and Fisher’s viewpoints are a significant part of Warren Buffett’s approach to investments. He’s described himself as “85% Graham, 15% Fisher” (I think Buffett is more “15% Graham, 85% Fisher.”)

Dale Carnegie’s “How to Win Friends and Influence People” is the granddaddy of all self-help books that spawned the self-improvement industry. I discovered that the 2011 update, “How to Win Friends and Influence People Digital Age”, references my blog article on the art of remembering names.

Looking for Important Skills to Develop?

November 26, 2014 By Nagesh Belludi Leave a Comment

Whether you need to take on a new challenge, prepare yourself to become promotable, or enhance your performance at work, undertaking learning and development can help. You must continually be on the lookout for new talents to add to the vast fund of knowledge you’ve accumulated over the years and add to the reservoir of experiences from which to draw.

Some skills are critical to your success throughout your career and life. Chris Anderson recently suggested a set of vital topics that must be taught in school. Anderson is the founder and curator of the Ideas-Worth-Spreading TED conferences.

TED’s Chris Anderson propunds a “Syllabus of the Future”

How to nurture your curiosity.

How to Google intelligently and skeptically.

How to manage your money.

How to manage your time.

How to present your ideas.

How to make a compelling online video.

The secret life of a girl.

The secret life of a boy.

How to build a healthy relationship.

How to listen.

How to calm an argument.

Who do you want to be?

How to train your brain to be what you want to be.

100 role models for the career you hadn’t thought of.

How to think like a scientist.

Why history matters.

Books that changed the world.

Why personal discipline is key to future success.

How your reflective self can manage your instinctual self.

How to defend the rights of people you care about.

10 hours with a kid on the other side of the world.

The keys to a healthy diet.

Why exercise matters.

How generosity creates happiness.

How immersion in nature eases stress.

What are the questions no one knows the answer to?

Use his “Syllabus of the Future” list to evaluate your needs in development and educate yourself in a few selected topics. Design a development plan involving regular discussions, reading articles and books, watching instructional videos, attending courses offered by a professional association, and observing and apprenticing with a mentor proficient in the skill you seek.

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