As the must-read classic on automation. In brief, it discusses how to create scalable businesses that are based on rules and not outstanding employees, and how to become an owner instead of constant micromanager.
Entrepreneurs need to have a definite idea about how scalable their business is. To quote, scalability is a company’s ability to grow without being hampered by its structure or available resources when faced with increased production. LMNAs has one such model. LMNAs focus on improving the profitability and efficiency of services even when its workload increases. The improvement of profitability and efficiency can only originate from the core of the business structure and workflow strategy. Scalability thus begins with developing a set of leaders who run the operations with the necessary technical know-how.
Drucker explains business effectiveness as a result of three core practices and suggests that effectiveness isn’t only something that can be learned, it must be developed. There are three takeaways from this book.
Find out where your time goes
As an executive, your time is most precious and most sought-after. Colleagues, subordinates, and superiors all these people will vie for your time using favours, proposals, requests, questions, clarifications, and advice. It’s up to you, therefore, to guard your time and allocate it selectively.
Focus on contribution
Speaking of output, effective executives know to focus on contribution. Instead of concentrating solely on efforts, they are occupied with.
Put first things first
Any top performer knows that there will always be more tasks to do than there is enough time to do it all. The question, therefore, is, “Which areas deserve concentration in order to generate outstanding results?”
Books help us in so many ways to succeed as an entrepreneur. They can be a source of inspiration, develop skills, and provide tips and business strategies. They can help us to become successful by providing the right knowledge, new ways of thinking, new insights and help us to develop necessary skills. Reading can also influence the way that we do business through personal development and leadership skills. We can get a lot of new ideas and tips allowing us to have multiple perspectives to join the dots and do things in a way that had never been done before.
By reading books we also develop cognitive skills which can benefit us in a multitude of ways by helping to improve our memory, develop literacy and verbal intelligence as well as increasing our strategic decision-making, boosting our brain power and reducing stress.
Not only can we learn from the successes of other entrepreneurs but we can also learn a huge amount from the failures of other entrepreneurs. It is very important to make sure that we learn about both perspectives.
The concept was coined by Cal Newport, a renowned author and computer science professor at Georgetown University, in a 2012 blog post and expanded upon in his 2016 bestselling book, Deep Work: Rules for Focused Success in a Distracted World. By Newport’s definition, deep work refers to:
“Professional activity performed in a state of distraction-free concentration that push your cognitive capabilities to their limit. These efforts create new value, improve your skill, and are hard to replicate.”
This likely isn’t the form of work that naturally fills your day. On the contrary, if you aren’t intentional about how you spend your time, your work hours slip away towards activities that Newport refers to as “shallow work”:
Which books have Changed your business? Tell us what should be adding to the reading pile–and why?
In the book, Getting Things Done, David Allen presents his productivity methodology that transforms the way you approach your personal and professional life. The Getting Things Done method helps you organize your calendar, tasks, and priorities such that your work is.
As a bottom-up method, the advantage of the Getting Things Done system is that you know what you are currently working on and what you plan on doing next. GTD helps you move thoughts out of your head and into your system to channel your mental brainpower into your work.
“Uncertainty is permanent, chaotic times are normal, change is accelerating, and instability will likely characterise the rest of our lives.”
Extreme, unstable forces by themselves do not undo a great company.
But undisciplined behaviour does.
Focus on the Wildly Important
Select the most important objective that won’t be achieved without special attention. This would help you drive it without hesitation.
Act on the Lead Measures
Measuring behaviours or actions that can influence and improve every day or week to track our success.
Keep a Compelling Scoreboard
Your team will execute more effectively if they can see a scoreboard.
Create a Cadence of Accountability
Each team member should ask themselves “What are the one or two most important things I can do this week that will have the biggest impact on the scoreboard?”