For Better Or For Work by Meg Cadoux Hirshberg - Book review

For Better or For Work

A Survival Guide for Entrepreneurs and Their Families

By: Meg Cadoux Hirshberg

Published: March 5, 2012
Format: Hardcover, 260 pages
ISBN-10: 0983934002
ISBN-13: 978-0983934004
Publisher: An Inc. Original













"When people start companies, they research the competition, market data, SBA loans, and the cost of office space. But they generally give little thought to how a business will affect their personal lives", writes spouse of the founder and current President and CEO of Stonyfield Yogurt, and Inc.com columnist Meg Cadoux Hirshberg, in her deeply personal and transformational book For Better or For Work: A Survival Guide for Entrepreneurs and Their Families. The author describes how her life, and that of her husband and family, were affected deeply when her husband Gary was drawn ever more heavily into business matters, and away from the family.

Meg Cadoux Hirshberg understands first hand about the constant business pressure that a start-up business venture has on both the entrepreneur and the family. Whether the business is conducted in the home, with its attendant loss of privacy, or in an office where the spouse is away from home, there is real stress on the entrepreneur's family relationships. Meg Cadoux Hirshberg delves into the murky waters of borrowing money from relatives, generational succession of the company management, and the possibility of marital breakdown. To address these, and other rarely discussed but very real entrepreneurial stress points, the author draws on her own personal experiences of living the start-up business life.



Meg Cadoux Hirshberg (photo left) presents an inside view of being part of an entrepreneurial family. The author shares her personal experiences, and fresh insights into the challenges that arise in a start-up company. She writes openly and frankly about the strains that the business demands placed on her marriage and on the family. The author provides an overview of the problems of company finances, and the stress created through the constant issues of cash flow, financing, and daily business operations. Writing from both the head and from the heart, Meg Cadoux Hirshberg shares an honest, and rare glimpse into the home life of an entrepreneurial family.

For me, the power of the book is how Meg Cadoux Hirshberg combines a powerful and moving personal story with real world tested advice for entrepreneurs and their spouses. The book is an intriguing blend of home and business life, and the stress placed on one by the other. The author's format reflects that constant pull in all directions that her life, as spouse and partner in Stonyfield Yogurt, made evident in her business life. The author demonstrates how she and her family triumphed in the end, and how life and business can mix; if blended in the proper proportions.

Meg Cadoux Hirshberg offers some very important, and rarely presented advice to entrepreneurs, spouses, and family members. For too long, these ideas and strategies for coping, have been taboo and off limits for discussion. Meg Cadoux Hirshberg pulls back the curtains, and writes frankly about what entrepreneurship is really like for families; from the inside. Each chapter addresses a crucial aspect of the start-up business life. Within each of these important sections, the author shares her hard learned lessons, with the goal of helping other families avoid the challenges and stress faced by her own family. The many photographs in the book provide an even more personal and human aspect to this fine book.

I highly recommend the insightful and inspirational book For Better or For Work: A Survival Guide for Entrepreneurs and Their Families by Meg Cadoux Hirshberg, to any families who are either involved in an entrepreneurial venture, or who are considering starting their own business. This book will help everyone involved, and it's indeed an entire family commitment, to overcome the challenges and obstacles that face marriages and families int he world of start-up businesses.

Tags: For Better or For Work: A Survival Guide for Entrepreneurs and Their Families, Meg Cadoux Hirshberg, challenges of entrepreneurship for families, business book reviews

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Taming Your Alpha Bitch by Rebecca Grado & Christy Whitman - Book review

Taming Your Alpha Bitch

How to be Fierce and Feminine (and Get Everything You Want!)

By: Rebecca Grado, Christy Whitman

Published: January 31, 2012
Format: Paperback, 224 pages
ISBN-10: 1936661152
ISBN-13: 978-1936661152
Publisher: BenBella Books













"Now more than any moment in history, we as women are discovering and expressing the full magnitude of our authentic, unabashed power", write CEO and founder of the Quantum Success Coaching Academy™, Christy Whitman; and licensed spiritual psychotherapist, Rebecca Grado, in their inspirational and empowering book Taming Your Alpha Bitch: How to be Fierce and Feminine (and Get Everything You Want!). The authors describe how women have gained more power and influence than ever before, but all too often believe mistakenly that they must be dominate and forceful to achieve their goals. The authors replace that behavior with a more balanced approach that is assertive, and is neither domineering or weak.



Rebecca Grad0 (photo left) and Christy Whitman recognize that for women of previous decades, success in a male dominated world almost required that women put aside their femininity, and assume a more dominate and force oriented approach. The authors point out that the strategy worked to a degree, but not entirely. Women have achieved huge strides in all walks of life, and in society as a whole, but that success has all often been gained at a tremendous personal cost. Women have experienced higher stress levels, have been feeling unable to cope with the increased demands on their time and energy, and have have been on edge more than ever before. The authors provide evidence that the misguided alpha behavior, while making some important gains, is also a very limiting factor to the overall success and personal well being of those same women.



Christy Whitman (photo left) and Rebecca Grado point out that the alpha woman lives by the motto of "the greater the effort, the better the outcome". While that credo may achieve huge results for males, the authors offer evidence that it's a detrimental outlook for women. That viewpoint increases stress loads, confrontations, and adversely affects the health of the women. The authors propose an alternative view of the world, based on the Law of Attraction. When women acknowledge that they began acting in an aggressive and dominating manner for a reason, they are able to let go of that behavior. Instead, they are able to make the transition from Alpha Bitch to Femininely Empowered Woman. Through becoming the alpha, women learned how to succeed. By changing to the empowered style, women are able to thrive.

For me, the power of the book is how Rebecca Grado and Christy Whitman combine their analysis of what they call the Alpha Bitch, with a road map to become a Femininely Empowered Woman. The authors describe the four basic types of alpha women as forceful, controlling, competitive, and disruptive in their behavior. Through this identification of types, women are able to identify their own actions, and begin the journey toward empowerment.

With alpha behavior being understood by the authors to be a dead end, the road is opened to an entirely new form of woman as leader. The authors guide women through the process of change, resulting in a more balanced and fulfilling life and career. To add to the book, the authors provide valuable self assessment guides; and also handy tips at the end of each chapter to further illustrate the overall concepts.

I highly recommend the hands on and transformational book Taming Your Alpha Bitch: How to be Fierce and Feminine (and Get Everything You Want!) by Christy Whitman and Rebecca Grado, to any women who are seeking a less stressful and more richly rewarding guide to success at home and in a career. This book will guide women toward a leadership model that is effective, sustainable, and life fulfilling.

Tags: Taming Your Alpha Bitch: How to be Fierce and Feminine (and Get Everything You Want!), Christy Whitman, Rebecca Grado, women in leadership roles, business book reviews

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Women Lead The Way by Linda Tarr- Whelan - Book review

Women Lead the Way

Your Guide to Stepping into Leadership-and Changing the World

By: Linda Tarr-Whelan

Published: February 14, 2011
Format: Paperback, 240 pages
ISBN-10: 1605098736
ISBN-13: 978-1605098739
Publisher: Berrett-Koehler Publishers











"To achieve sustainable long-term economic growth and well-being, leadership must become more balanced - and that means it must include more women", writes respected expert on women in leadership and Demos Distinguished Senior Fellow, Linda Tarr-Whelan, in her revolutionary and thought provoking book Women Lead the Way: Your Guide to Stepping into Leadership-and Changing the World. The author describes how leadership decision making would improve for organizations if they were to have thirty percent women in those leadership roles; and provides the road map for achieving what she terms The 30% Solution.

Linda Tarr-Whelan recognizes that there is crisis in leadership in both the corporate and public spheres. The author points out that women comprise only a small segment of the current leadership in organizations of all types. In order to build sustainable organizations and a workplace that is both balanced and productive, more women are needed in leadership roles. Linda Tarr-Whelan offers a solution to this current leadership malaise in the form of the 30% Percent Solution. The author provides solid evidence that when thirty percent of leaders are women, a tipping point is reached, and the organization undergoes a complete transformation in how it thinks and behaves.



Linda Tarr-Whelan (photo left) demonstrates that having more women in leadership positions, is not only the right thing to do, but is good business as well. Gender diversity brings fresh perspectives and new ideas to the boardroom, resulting in new and innovative ideas. Changing who makes the decisions, changes the decisions and the outcomes of those choices.

Woman also change the dynamic of how the workplace operates and functions on a daily basis. Linda Tarr-Whelan warns that having only token female representation in leadership has little effect on the overall decision making process, and on the workplace environment. As a result, the author emphasizes the importance of thirty percent women leaders as forming the essential critical mass for change.

Linda Tarr-Whelan understands that women bring different qualities, worldviews, and ways of doing things to the organization. As a result, women leaders are able to transform an organization through their values and vision. Some of the important and much needed qualities women bring to leadership roles include:

* Preference for collaboration
* Longer and winder time horizons
* Greater appreciation of the importance of relationships
* Focus on crisis prevention
* Fresh vision through more diverse points of view

For me, the power of the book is how Linda Tarr-Whelan presents a convincing case for the importance of The 30% Solution; and offering a practical blueprint for implementing that crucial proposal into any organization. With only 17% of Congressional seats and 14% of Fortune 500 board seats held by women, there is much work to be done. Indeed, the current level of women leaders must double to create the climate for real and sustainable change. When faced with the current and ongoing deadlock in Congress, and the failure of many of America's leading companies, the addition of women's vision and passion is vital for moving forward in both the public and private sectors.

The author provides strong evidence of the change potential that women leaders bring to the organizational decision making process. Linda Tarr-Whelan brings forward a combination of real world experience, her personal experience, and case studies to emphasize her main thesis of The 30% Solution as the road to a successful, more equitable, and more sustainable future. The author also provides a series of practical steps to guide women toward the role of transformational leader in any field of endeavor. Overall, this is a book that is destined to be a classic in the leadership literature.

I highly recommend the important and must read book Women Lead the Way: Your Guide to Stepping into Leadership-and Changing the World by Linda Tarr-Whelan, to anyone who is serious about making real change in all organizations, boosting performance, increasing collaboration levels, and improving the bottom line. Placing more women in leadership roles, with real decision making power, will transform even the most moribund company into a dynamic force for change and sustainable growth for the future.

Tags: Women Lead the Way: Your Guide to Stepping into Leadership-and Changing the World, Linda Tarr-Whelan, women in leadership roles, business book reviews

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Environmental Hazards and Disasters by Bimal Kanti Paul - Book review

Environmental Hazards and Disasters

Contexts, Perspectives and Management

By: Bimal Kanti Paul, Ph.D.

Published: January 11, 2012
Format: Paperback, 334 pages
ISBN-10: 0470660015
ISBN-13: 978-0470660010
Publisher: Wiley-Blackwell











"Research pertaining to the understanding of the human-environment synergism is a major emphasis of contemporary social science and other disciplines, including geography. In particular, global inquiry into human behavior in stressful situations such as natural hazards, has constituted a considerable portion of this research by scholars across disciplines", writes Professor of Geography at Kansas State University, Bimal Kanti Paul, Ph.D., in his comprehensive and multi-disciplinary book Environmental Hazards and Disasters: Contexts, Perspectives and Management. The author describes the interaction of hazards and disasters, and the human impact on them; as well as the vulnerability of people and societies in the face of a wide variety of natural events.

Bimal Kanti Paul recognizes that natural disasters and hazards have an effect on humans, but that people and society have both positive and negative impacts on the events as well. As a result, the author takes an inter-disciplinary approach to the subject matter that explains the interconnectedness of human activity and natural hazards and disasters. Bimal Kanti Paul approaches the topics through a combination of science, technology, economic, political, and social factors. The author provides a complete study of the management of the risk factors involved, the potential for mitigating that risk, the need for acceptance some risk, and for responding to the effects of disasters after they strike and cause their varying levels of devastation.



Bimal Kanti Paul (photo left) provides the scientific background to natural hazards and disasters, and distinguishes between the two concepts to enhance clarification. Along with the scientific and quantitative measurement of events and their aftermath, the author also considers the human element that either contributes to the level of disaster, or faces the destruction and damage that results from them. Bimal Kanti Paul points out that political and economic imperatives, including industrialization and urbanization contribute not only to the intensity of the events, but also cause increased loss of life and damage to property.

Bimal Kanti Paul covers all aspects of the field, through his multi-disciplinary approach, including the following:

* History and development of hazard studies in Geography
* Vulnerability, resiliency, and risk
* Disaster cycles: Mitigation and preparedness
* Disaster cycles: Response and recovery
* Disaster relief
* Hazards and disaster special topics

For me, the power of the book is how Bimal Kanti Paul combines many fields of study into a complete textbook on the topic of environmental hazards and disasters. The author does a fine job of placing the various types of disasters into a human and societal context, and the effects that each has upon the other. Indeed, the author makes a point of examining the overall human aspects of the events, of their causes, possible prevention, and of the actions taken when disaster happens on any scope or scale.

Bimal Kanti Paul understands that human activities can both increase the potential for disasters, and also work to reduce their impact and overall effects. The author also considers the importance of responses to disasters, and of relief of those affected by the tumultuous events, including the social and psychological impact felt by the people involved during and after the events take place. The extensive bibliography at the end of each chapter provides a tremendous resource for further study into the topics examined in each chapter as well.

I highly recommend the landmark and essential book Environmental Hazards and Disasters: Contexts, Perspectives and Management by Bimal Kanti Paul, Ph.D., to any undergraduate or graduates students in any of the related disciplines, business leaders, executives in risk management fields, emergency measures personnel, disaster relief agencies, and public policy makers seeking an authoritative and understandable book on both the human and physical aspects of environmental hazards and disasters. This book is an ideal introduction to the subject matter.

Tags: Environmental Hazards and Disasters: Contexts, Perspectives and Management, Bimal Kanti Paul, Ph.D., natural hazards and disasters, science book reviews.

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Shake The World by James Marshall Reilly - Book review

Shake the World

It's Not About Finding a Job, It's About Creating a Life

By: James Marshall Reilly

Published: December 29, 2011
Format: Hardcover, 288 pages
ISBN-10: 159184455X
ISBN-13: 978-1591844556
Publisher: Portfolio/Penguin












"It occurred to me that it would be quite valuable for someone to conduct empirical research by speaking directly with the young game changers of this generation, those who are at the absolute top of their respective fields, in order to find out how they found success", writes entrepreneur and founder of The GUILD Agency Speakers Bureau & Intellectual Talent Management, Inc., James Marshall Reilly in his inspirational and outlook transforming book Shake the World: It's Not About Finding a Job, It's About Creating a Life. The author describes how he sought to discover if there is a new blueprint for success that drives the young Millennial generation toward their goals, and how the current economic conditions are changing the way young people see the world.

James Marshall Reilly recognizes that a new form of success has emerged over the past few years. Young leaders are following their personal passion. This new success model is based on social justice and giving to others, creating not only work that holds real meaning, but also a meaningful personal life. For the young entrepreneurs profiled in the book, and for other members of the same generational cohort, the very definition of what constitutes success has changed completely. James Marshall Reilly presents a generation, coming of age in very troubled economic times, who are embracing a world view that values both work and personal success. Indeed, the two concepts of success are intertwined so tightly, as to be one and the same total success experience, for the young generation of leaders.



James Marshall Reilly (photo left) begins his mission to discover what traits and ideals that the new generation of leaders and entrepreneurs have in common. To make this discovery, the author interviewed some of the most important and diverse young leaders. The end result is an in depth examination of the worldview of Millennial leaders, and why they are so different in their vision than members of previous generations. That outlook includes not only building a better world, but also creating a better way to live and work within that new world.

The widely diverse group of young leaders, interviewed in the book, achieved the pinnacle of success within their own fields of endeavor. They created lives within their new world vision that created growth that was not only vertical, but horizontal in all directions as well. The author found the people he interviewed to have many traits in common. They all seemed to be humbled by their accomplishments, and achieved their goals by working very hard. The author also found the interviewees to be ordinary, everyday people who simply approached and engaged the world in new and interesting ways. In the end, James Marshall Reilly discovered that their blueprint for success was one that could be emulated by anyone.

For me, the power of the book is how James Marshall Reilly combines two important ideas in the book. The first concept is that a blueprint for success, from the Millennial generation perspective must contain three essential elements. One element is that a better world must be the outcome of any life. A second element is that work must be more than a job; as it must contain real meaning. The third element is how a person's life must also have meaning within the work selection and in the better new world.

The second important aspect of the book is the series of interviews, conducted by James Marshall Reilly, with successful young leaders in widely diverse walks of life. The author uncovered their common traits, the values, and their paths to success. The author found that the traits, shared by the interviewees, are readily applied to anyone's life. As a result, the book has much to teach, not only members of the Millennial generation, but of any other generation as well. As an added bonus, the book provides some valuable insights into the worldview of the Millennials, helping the reader gain a richer understanding of the views and values held by these amazing young people.

I highly recommend the idea filled and engaging book Shake the World: It's Not About Finding a Job, It's About Creating a Life by James Marshall Reilly, to anyone seeking a blueprint for success that goes beyond the standard success manuals. This book provides a foundation for building a wonderful new world, and for establishing a meaningful life of purpose within that new world as well.

Tags: Shake the World: It's Not About Finding a Job, It's About Creating a Life, James Marshall Reilly, blueprint for success, business book reviews

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Quick Brainstorming Activities For Busy Managers by Brian Cole Miller - Book review

Quick Brainstorming Activities for Busy Managers

50 Exercises to Spark Your Team's Creativity and Get Results Fast

By: Brian Cole Miller

Published: January 18, 2012
Format: Paperback, 192 pages
ISBN-10: 0814417922
ISBN-13: 978-0814417928
Publisher: AMACOM











"This book is for the busy manager who uses brainstorming as a tool to gather input and ideas from his or her staff", writes management trainer, consultant, and principal of Working Solutions, Inc., Brian Cole Miller, in his very hands on and resource packed book Quick Brainstorming Activities for Busy Managers: 50 Exercises to Spark Your Team's Creativity and Get Results Fast. The author describes how to put the power of brainstorming to work for any manager, and how to achieve results that are both creative and effective for solving the organization's problems.

Brian Cole Miller recognizes that most managers are familiar with the concept and value of brainstorming as a problem solving tool. The author also points out that while the concepts of brainstorming activities are well known, very often those brainstorming techniques are not applied in the right way. Brian Cole Miller shares proven techniques that make brainstorming sessions not only more effective in resolving problems, but much more fun for the participants as well. The author points out that brainstorming isn't as simple as some mangers are led to believe. On the other hand, it's a tactic that is not difficult either, as long as the manager practices the methods for overcoming roadblocks that may arise, and keeps the ideas flowing smoothly.




Brian Cole Miller (photo left) understands the immense, and almost magical value of brainstorming as an idea generating method. The author provides evidence that since brainstorming activities involve everyone as participants, employee morale is boosted and commitment to the final solution is strong, as there is a renewed sense of clarity and common purpose. Brainstorming avoids hierarchical decision making, massive egos dominating the proceedings, and the eternal problem of group-think and their adherence to stale and outworn ideas. Perhaps, as the author points out, the most important aspect of brainstorming is that it is fun for the participants, creating a refreshing change to a more enjoyable overall company culture.

To achieve success with brainstorming as a problem solving technique, Brian Cole Miller provides the four basic rules of successful and effective brainstorming. Those four principles are as follows:

* Focus on quantity rather than quality, which leads to quality later
* Withhold judgement on the ideas as presented, and let all ideas flow freely
* Encourage the most wild and outrageous ideas as this generates even more ideas
* Combine and build on the ideas presented, creating even more great ideas

For me, the power of the book is how Brian Cole Miller provides a solid foundation for utilizing the proven techniques of brainstorming in any organization. The author guides brainstorming session leaders through the entire process from the important step of formulating clearly the right question to ask, and solving the right problem. With this often overlooked clarity of purpose in place, Brian Cole Miller takes the group leader through the rest of the process, until the final solution is discovered and put into practice.

The author shares many ideas and exercises for boosting the creativity level of the group, and for transforming the session into an upbeat and positive force for renewal of the organizational culture. Overall, this is an excellent book for both novice and seasoned brainstorming session leaders, and for decision makers who are considering adding brainstorming to the organizational creative tool box.

I highly recommend the practical and results oriented book Quick Brainstorming Activities for Busy Managers: 50 Exercises to Spark Your Team's Creativity and Get Results Fast by Brian Cole Miller, to any business leaders and creative teams who are seeking a very engaging and idea filled book for developing an effective culture of creativity and innovation. This book will transform the ordinary and often unproductive brainstorming sessions that yield so little for many firms.into vibrant and creative sessions that will discover effective and innovation solutions.

Tags: Quick Brainstorming Activities for Busy Managers: 50 Exercises to Spark Your Team's Creativity and Get Results Fast, Brian Cole Miller, innovative business models, business book reviews

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Rich Horwath: Strategy For You - Blog Business Success Radio

Listen to Wayne Hurlbert on Blog Talk Radio



Strategist, speaker, CEO of the Strategic Thinking Institute and author of the inspirational and engaging book Strategy For You: Building a Bridge to the Life You Want, Rich Horwath, describes how over 80 percent of business executives have written strategy for their company, but only 20 percent have one for themselves. Rich Horwath points out that his extensive study demonstrated that executives understand the importance of strategy for reaching goals, but don't apply the same principles to themselves. Rich provides ideas for bringing strategy out of the C-level offices and into the individual's work and home life. Rich Horwath shows how to discover the purpose in your life, how to differentiate your unique strengths, how to decide how to best allocate your time and talent, how to design an action plan, and how to drive to ultimate success. Rich Horwath shares success stories of individuals as well, who utilized a personal strategy in their own lives.

Rich Horwath is my internet radio show guest on Blog Business Success; hosted live on BlogTalkRadio.

The show airs live on Thursday, March 8, at 8:00 pm Eastern Time; 5:00 pm Pacific Time.

Strategist, speaker, CEO of the Strategic Thinking Institute and author of the inspirational and engaging book Strategy For You: Building a Bridge to the Life You Want to the Life You Really Want, Rich Horwath, describes how over 80 percent of business executives have written strategy for their company, but only 20 percent have one for themselves. You will learn:

* Why so many successful executives fail to have a strategic life plan

* Why a strategic life plan is essential to achieve personal success

* How to devise, develop, and implement a strategic personal life plan

* How to apply the five steps to building a successful plan to your life



Rich Horwath (photo left) helps people live strategically--to get more out of their business and more out of their life. He is a New York Times and Wall Street Journal best selling author on strategy. As the CEO of the Strategic Thinking Institute, he leads executive teams through the strategy process and has helped more than 50,000 managers around the world develop their strategic thinking skills.

As a former chief strategy officer and professor of strategy, he brings both real-world experience and practical expertise to help groups build their strategy skills.

Rich's work has been profiled on CNBC, Investor's Business Daily, CBS, NBC and FOX TV. His most recent books include Deep Dive: The Proven Method for Building Strategy, Focusing Your Resources, and Taking Smart Action and Strategy For You: Building a Bridge to the Life You Want.

My book review of Strategy For You: Building a Bridge to the Life You Want by Rich Horwath.

My book review of Deep Dive: The Proven Method for Building Strategy, Focusing Your Resources, and Taking Smart Action by Rich Horwath.

Listen live on Thursday at 8:00 pm Eastern, 5:00 pm Pacific time.



If you miss this very informative show, it will be available for free download as a podcast for iPod, iTunes, and MP3 players; or play it right on your computer. To download this, or any other of my guest interviews, go to the Blog Business Success host page and click on Archived Segments. Once there, click on the podcast icon at the end of the episode description, to download the show free of charge for your listening enjoyment. You can also subscribe to the show feed.



To call in questions for my guest, the number is: (347) 996-5832

Let's talk with Strategist, speaker, CEO of the Strategic Thinking Institute and author of the inspirational and engaging book Strategy For You: Building a Bridge to the Life You Want, Rich Horwath, describes how over 80 percent of business executives have written strategy for their company, but only 20 percent have one for themselves. Rich Horwath points out that his extensive study demonstrated that executives understand the importance of strategy for reaching goals, but don't apply the same principles to themselves. Rich provides ideas for bringing strategy out of the C-level offices and into the individual's work and home life. Rich Horwath shows how to discover the purpose in your life, how to differentiate your unique strengths, how to decide how to best allocate your time and talent, how to design an action plan, and how to drive to ultimate success. Rich Horwath shares success stories of individuals as well, who utilized a personal strategy in their own lives on Blog Business Success Radio.

Tags: Strategy For You: Building a Bridge to the Life You Want, Rich Horwath, achieving personal goals, Blog Business Success, Blog Talk Radio.

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Strategy For You by Rich Horwath - Book review

Strategy For You

Building a Bridge to the Life You Want

By: Rich Horwath

Published: January 24, 2012
Format: Hardcover, 160 pages
ISBN-10: 1608322513
ISBN-13: 978-1608322510
Publisher: Greenleaf Book Group Press












"Whether it's in your work or your personal life, the opportunity to envision and create your greatest days is within your reach. You can begin the journey by asking yourself two questions: What would be the greatest day of my life? How would I get there?", writes CEO of the Strategic Thinking Institute, Rich Horwath in his inspirational and engaging book Strategy For You: Building a Bridge to the Life You Want. The author describes how people can change their lives by envisioning, creating, and living their own personal life strategy to achieve the greatest days of their lives.

Rich Horwath recognizes the value of developing a written strategy for both business and personal goals. The author also points to the importance of visualizing and establishing clear goals in both one's private and professional lives. Rich Horwath considers the strategy to be the bridge, to cover the gap, between the now and the goal on the other side. The author demonstrates how to utilize a strategic approach, and of using your personal resources of time, talent, and money to reach those goals. The author guides the reader along the journey of designing, building, traveling the strategy bridge to span the distance to achieve the desires goals of the greatest days of their lives.



Rich Horwath (photo left) understands the importance of strategy for business. The author cites a study that places the number one cause of business failure as having a bad strategy. Without a plan for success, a business is unlikely to succeed. Rich Horwath applies that same reasoning to the need for having a plan for one's own life. Without a plan, a person will be much less likely to achieve the future of their dreams; and much more apt to end up with a future that they do not want at all.

To develop, create, and execute an effective life plan, Rich Horwath presents his five step program for building that strategic bridge. The five principles are as follows:

* Discover the purpose for your life to select your bridge's location
* Differentiate your unique qualities to imagine your bridge's styles
* Decide where to place your time and talent to find your bridge's materials
* Design an effective plan to build your bridge
* Drive and execute your plan to cross your bridge

For me, the power of the book is how Rich Horwath makes the important connection between the necessity for building a successful business strategy, with the need for developing a successful life strategy. Through his analogy of building a bridge to cross the divide between where a person is now, to where they want to be in life, the author provides a powerful visualization tool for success. The author enhances his concepts with real world examples of individuals who utilized the personal strategy principle to achieve their own goals.

Rich Horwath presents a logical five step plan for planning, building, and executing the life plan, that is both practical and effective. The strategy development tools that the author shares are ones that are proven to work in the most successful and growing companies. The strategic techniques are scalable and practical for the individual in achieving personal goals as well.

I highly recommend the very hands on and results oriented book Strategy For You: Building a Bridge to the Life You Want by Rich Horwath, to anyone seeking a user friendly and insightful guide to developing their own personal life strategy to achieve the best days of your life. This book is a powerful road map to bridging the chasm, between where you are today today, and a fantastic tomorrow.

Tags: Strategy For You: Building a Bridge to the Life You Want, Rich Horwath, achieving personal goals, business book reviews

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Serial Innovators: Firms That Change the World by Claudio Feser - Book review

Serial Innovators

Firms That Change the World

By: Claudio Feser

Published: November 8, 2011
Format: Hardcover, 202 pages
ISBN-10: 1118149920
ISBN-13: 978-1118149928
Publisher: John Wiley & Sons, Inc.










"Sometimes, however, but only sometimes, firms resist the process of aging and rise above this. They adapt and thrive in dynamic markets, they continuously reinvent themselves, and they change their industries. They become serial innovators. Sometimes - by continuously reinventing new products and services that make life healthier, better, safer - they change the world", writes Director of McKinsey & Company, Claudio Feser, in his insightful and research based book Serial Innovators: Firms That Change the World. The author describes how companies have a life cycle, where they are born, grow, and age. Some companies also die, while others resist the effects of company aging, and continue to adapt and grow.

Claudio Feser provides the analogy of a the company life cycle to that of a living organism, with both possessing the same inherent stages of life. As with life in the wild, companies must adapt or be swept aside in the tide of ever changing markets and economic circumstances. Into this harsh reality, Claudio Feser proposes that some companies succumb to the aging process, and die. Other companies, however, do adapt and grow and continue to provide new products and services. Very often those same products and serve as catalysts for changing the way people live, work, and act. In other words, these adaptable and innovative companies change the world.



Claudio Feser (photo left) accepts the challenge to determine what factors in a company life cycle, cause a firm to die; while other companies in the very same industry grow and flourish for many years, and become iconic world changers in the process. To uncover the factors that caused a company to age and die; and also to determine the qualities that created a growing and innovative firm, the author utilized a study that crossed many disciplines and academic fields. The result was a deeper understanding that caused both personal and systemic rigidness within the failed companies. The study also found the important characteristics that led to innovation, growth, and a resistance to aging in the successful organizations.

The author outlines the causes of rigidity and decline in failed companies that aged and lost their vigor and innovative capabilities. The individual and organizational factors in that rigidity are as follows:

* Individual rigidity of biased and less rigorous thinking
* Individual rigidity of lack of personal self-efficacy
* Individual rigidity of lack of acceptance of the challenge presented by change
* Organizational rigidity of impenetrable hierarchies in the firm
* Organizational rigidity of a loss of purpose and sense of mission
* Organizational rigidity of company culture that prevents change
* Organizational rigidity of poorly designed incentives rewarding the wrong things
* Organizational rigidity of of a lack of capability to foster growth

For me, the power of the book is how Claudio Feser combines research based findings about the nature of rigidity in both individuals and organizations, with practical advice for building an innovative organization that is both nimble and passionate. The author demonstrates that the companies that make innovation an integral part of their culture become serial innovators, moving quickly from challenge to opportunity for renewal and growth.

Claudio Feser illustrates his concepts with a background story of a fictional organization as it puts the principles of serial innovation into practice. The story serves to enrich the understanding of the concepts, and places them in a realistic model for overcoming obstacles and creating fresh new innovative ideas to meet the constantly changing challenges of the marketplace. The end result is an organization, fueled by a passion for its mission, and a dedication that can even change the lives of people across the globe.

I highly recommend the organization transforming book Serial Innovators: Firms That Change the World by Claudio Feser, to any CEOs, business leaders, and potential innovators seeking a research based approach to solving the challenge of an aging company life cycle, and replacing it with a renewed sense of purpose and growth. This book will guide any company toward the passion and rebirth that leads to fresh and sustainable growth.

Tags: Serial Innovators: Firms That Change the World, Claudio Feser, innovative business models, business book reviews

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Phil Simon: The Age Of The Platform - Blog Business Success Radio

Listen to Wayne Hurlbert on Blog Talk Radio



Renowned technology expert, speaker, and author of the revolutionary and insightful book The Age of the Platform: How Amazon, Apple, Facebook, and Google Have Redefined Business, Phil Simon, describes how companies are rethinking their very approach to how they do business. Phil Simon points out that while technology is valuable, it's the reach of that technology that really matters. Companies are no longer building networks, but are creating entire ecosystems, moving their reach and impact in many more directions than ever before. Companies are harnessing the power of collaboration, rapid development, leading edge technologies, and innovation arriving from anywhere to build their new business models. Phil Simon provides rich insights into this new business model, and why it's critical to understand it in today's highly competitive marketplace.

Phil Simon is my internet radio show guest on Blog Business Success; hosted live on BlogTalkRadio.

The show airs live on Tuesday, March 6, at 8:00 pm Eastern Time; 5:00 pm Pacific Time.

Renowned technology expert, speaker, and author of the revolutionary and insightful book The Age of the Platform: How Amazon, Apple, Facebook, and Google Have Redefined Business, Phil Simon, describes how companies are rethinking their very approach to how they do business. You will learn:

* What having a business platform means in a changing Web 3.0 world

* How Amazon, Apple, Facebook, and Google leveraged the power of platforms

* How to create a powerful business platform

* What the future holds for platform based business ecosystems



Phil Simon (photo left) is s the author of four management books. His fourth, The Age of the Platform: How Amazon, Apple, Facebook, and Google Have Redefined Business, is his most ambitious yet. A recognized technology expert, he consults companies on how to optimize their use of technology. His contributions have been featured on NBC, CNBC, Huffington Post, The Globe and Mail, Fast Company, the American Express Open Forum, ComputerWorld, Technorati, ZDNet, abcnews.com, forbes.com, The New York Times, ReadWriteWeb, and many other sites.

While not consulting, Phil speaks about emerging trends and technologies. He also writes for a number of technology-oriented media outlets. He holds degrees from Carnegie Mellon University and Cornell University.

My book review of The Age of the Platform: How Amazon, Apple, Facebook, and Google Have Redefined Business by Phil Simon.

My book review of The New Small: How a New Breed of Small Businesses Is Harnessing the Power of Emerging Technologies by Phil Simon.

My book review of Why New Systems Fail: An Insider's Guide to Successful IT Projects by Phil Simon.

My written Q and A interview with Phil Simon about the origins of writing and financing The Age of the Platform: How Amazon, Apple, Facebook, and Google Have Redefined Business.

Listen live on Tuesday at 8:00 pm Eastern, 5:00 pm Pacific time.



If you miss this very informative show, it will be available for free download as a podcast for iPod, iTunes, and MP3 players; or play it right on your computer. To download this, or any other of my guest interviews, go to the Blog Business Success host page and click on Archived Segments. Once there, click on the podcast icon at the end of the episode description, to download the show free of charge for your listening enjoyment. You can also subscribe to the show feed.



To call in questions for my guest, the number is: (347) 996-5832

Let's talk with renowned technology expert, speaker, and author of the revolutionary and insightful book The Age of the Platform: How Amazon, Apple, Facebook, and Google Have Redefined Business, Phil Simon, as he describes how companies are rethinking their very approach to how they do business. Phil Simon points out that while technology is valuable, it's the reach of that technology that really matters. Companies are no longer building networks, but are creating entire ecosystems, moving their reach and impact in many more directions than ever before. Companies are harnessing the power of collaboration, rapid development, leading edge technologies, and innovation arriving from anywhere to build their new business models. Phil Simon provides rich insights into this new business model, and why it's critical to understand it in today's highly competitive marketplace on Blog Business Success Radio.

Tags: The Age of the Platform: How Amazon, Apple, Facebook, and Google Have Redefined Business, Phil Simon, emerging business models, Blog Business Success, Blog Talk Radio.

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The Age of the Platform by Phil Simon - Book review

The Age of the Platform

How Amazon, Apple, Facebook, and Google Have Redefined Business

By: Phil Simon

Published: October 22, 2011
Format: Paperback, 312 pages
ISBN-10: 0982930259
ISBN-13: 978-0982930250
Publisher: Motion Publishing












"Expenses aside for a moment, creating a robust platform does not just hinge on consistently developing great products or services. Rather, it requires a completely different mind-set. It must be at the core of a company's business model", write renowned technology expert and speaker Phil Simon in his revolutionary and insightful book The Age of the Platform: How Amazon, Apple, Facebook, and Google Have Redefined Business. The author describes why companies must embrace building a platform based business model, describes how a platform model works, and shares the experiences of the four leaders in using a platform based business ecosystem.

Phil Simon recognizes that both the internet as a whole and business in general are in a state of transition. The previous Web 2.0 based internet is now being transformed into Web 3.0, with major repercussions for any business leaders who fail to pay attention to the change. At the same time, business models are in a state of constant motion, whether the company leadership considers that change to be desirable or not. Phil Simon refers to this transformation of business reality as dynamic stability where companies must reevaluate the very fundamental underpinnings of their entire organization and its reason for existence. Phil Simon provides insights into the changes being made to business models, in real time, and what companies must do to survive and grow in the new platform based marketplace.



Phil Simon (photo left) demonstrates how the four leaders in platform based business models - Amazon, Apple, Facebook, and Google - redefined how business operates and introduced the platform model as the template for the twenty-first century. The author outlines how each of these successful companies created their unique platforms, each with its own planks, and their individual collaborative and widely based ecosystem. The author shows how these platforms were built, how they overcame their mistakes on the fly, and shares some predictions for the future of each company's platform.

Phil Simon shares the characteristics of the four highly successful platform based companies. He also presents a complete understanding of why the platform is not only powerful but is also essential to success in the new Web 3.0 business environment. Phil Simon points to the following important aspect of platforms:

* Platform components and characteristics
* The benefits of platforms
* The perils of platforms
* Tips for building a platform
* The emerging platforms and their potential
* The future of platforms and Web 3.0

For me, the power of the book is how Phil Simon demonstrates the importance of building a platform to achieve success in a Web 3.0 world. He describes why a platform is essential to create a business ecosystem were collaboration is a critical element. The author points out correctly that if business leaders fail to understand the concept of platforms, they will not be able to cope successfully with the radical transformation taking place on the internet and in the marketplace.

Phil Simon offers useful recommendations for developing a platform, and for avoiding the missteps that can derail a successful transition to a platform business model. Of real value in the book is how Phil Simon includes a crucial chapter on the perils of platforms and of the mistakes that await to snare the unwary. Phil Simon bolsters his case for platforms with the real world examples of successful platform builders Amazon, Apple, Facebook, and Google. Overall, this is an excellent guide to the emerging business trend to platform based business models.

I highly recommend the important and must read book The Age of the Platform: How Amazon, Apple, Facebook, and Google Have Redefined Business by Phil Simon, to any business leaders who are serious about understanding the powerful emerging force of platform based business ecosystems. A failure to understand and embrace this revolutionary change in the marketplace could spell serious problems for those companies unwilling to meet the challenge of dynamic stability. This book is your essential guide to navigating and succeeding in a platform based ecosystem.

Tags: The Age of the Platform: How Amazon, Apple, Facebook, and Google Have Redefined Business, Phil Simon, emerging business models, business book reviews

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Carbon Democracy: Political Power in the Age of Oil by Timothy Mitchell - Book review

Carbon Democracy

Political Power in the Age of Oil

By: Timothy Mitchell

Published: November 7, 2011
Format: Hardcover, 288 pages
ISBN-10: 1844677451
ISBN-13: 978-1844677450
Publisher: Verso












"Fossil fuels helped create both the possibility of modern democracy and its limits", writes Professor in theDepartment of Middle Eastern, South Asian, and African Studies at Columbia University. Timothy Mitchell, in his brilliant and landmark book Carbon Democracy: Political Power in the Age of Oil. The author describes how not only the production, distribution, and use of oil are as crucial to understanding democracy in developed countries, and the lack of democratic institutions in oil producing countries.

Timothy Mitchell recognizes the connection between oil production and democracy goes far beyond simply the flow of oil money. For the author, an understanding of how the very apparatus of oil production is vital to conceptualizing why democracy has failed to take hold in producing nations; and also why it endangers democracy in developed oil using countries as well. Timothy Mitchell examines the mistaken idea that democracy is instilled in very different countries, through the same ideals and processes. The author rejects this social engineering concept of democracy. For the author, the idea of democracy and the apparatus of oil production, distribution, and usage are linked very tightly together.



Timothy Mitchell (photo left) discovers the powerful insight that democracy is itself based on carbon. For the author, following the history of carbon production offers the reasons why democracy took hold in some countries, and failed entirely to become part of other states. Timothy Mitchell points out that thinking about only oil producing countries as oil states misses half the equation. Oil using nations are also oil states, as their economies are based on the transfer of energy from fossil fuels into every aspect of modern life. The author also provides evidence that not only are these oil based economies not sustainable, but also the democracy that arose along with the use of fossil fuels is in danger as well.

With the easy to extract oil in decline, and new discoveries not keeping pace with the drop off, the ability of oil to fuel the economy is ending. The next part of the fossil fuel problem involves the unsustainable filling of the environment and the atmosphere with carbon. The history of carbon based fuels in developed countries involved many interrelationships that gave rise to democratic institutions. The various methods of organizing the flow and concentration of oil either created opportunities for democratic institutions to flourish.

In other social and economic organizations of the oil apparatus, those institutions were limited or removed entirely. The control of energy domestically and abroad has also worked to limit or remove democratic movements. The economy and democracy, for Timothy Mitchell are interwoven with the production, movement, and end usage of fossil fuels. That inter-relationship is what the author calls carbon democracy; and the author considers that concept to be in decline.

For me, the power of the book is how Timothy Mitchell presents a powerful analysis of how the rise of democracy as we know it, paralleled the rise of the carbon economy based on fossil fuels. By the sheer focus on energy production, distribution, and use as the drivers of the economy, democracy either flourished, or was stifled before it took root with the population. That same emphasis on a democracy based on carbon also contains the innate danger of collapse along with the decline of fossil fuel based energy. The critical insight that democracy depends on the forces of a carbon based energy system is one that has not been given sufficient, if any consideration.

That fresh examination of the basis of modern democracy, as being one tied to carbon, is essential for a fundamental understanding of the future of democracy. With the end of cheap oil, and the degradation of the planet's environment, democracy may be as unsustainable as carbon based national and global oil economies. To understand democracy demands a recognition of the interplay between carbon and democracy. Timothy Mitchell provides that important analysis in this essential and must read book.

I highly recommend the insightful and thought provoking book Carbon Democracy: Political Power in the Age of Oil by Timothy Mitchell, to anyone seeking a deeper examination, as well as a fresh approach to understanding the very foundation of modern democracy. With that democracy being dependent upon carbon based energy, its very sustainability is called into question by the author. With this critical analysis in hand, perhaps democracy can transform itself to work with a different set of energy relationships, both nationally and globally.

Tags: Carbon Democracy: Political Power in the Age of Oil, Timothy Mitchell, future of democracy, economics book reviews

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Patrick Alain: The Leader Phrase Book - Author interview

Internationally known video game developer Patrick Alain, was kind enough to the the time to answer a few questions about his practical and very useful reference book The Leader Phrase Book: 3000+ Powerful Phrases That Put You In Command.

Patrick Alain shares why his over three thousand game changing phrases will boost your leadership effectiveness in any given situation, and with any size of listening audience from one to thousands.

Thanks to Patrick Alain for his time, and for his very comprehensive and informative responses to the questions. They are greatly appreciated.




What was the background to writing this book The Leader Phrase Book: 3000+ Powerful Phrases That Put You In Command?

Patrick Alain: When I came to the US in early 2000s, I realized that the overall communication level could be a lot more sophisticated in the corporate world. Business professionals want to learn how to communicate well, how to be powerful speakers and motivators, and most importantly, how to be great leaders. There simply was no book to help anyone get there quickly. Over the next ten years, I painstakingly wrote down the distinctive phrases that would help people speak more powerfully.

This passion of mine eventually became the basis for The Leader Phrase Book and I persevered in writing it because I really felt that this would be a major contribution to the corporate world. With The Leader Phrase Book, people can attain a charismatic presence and gain the respect of others. The Leader Phrase book is the easy to use, flexible solution for white collar workers.

We often hear that strong communication skills are essential for a leader. Just how critical are those skills to leadership success?

Patrick Alain: I cannot tell you how important communication skills are, and yet I will attempt to do so. Leaders must always try to answer the call. Consider, if you will, how effective General MacArthur would have been without “I shall return.” The effective leader in him knew that a powerful phrase, turned at exactly the right time, would inspire his troops to survive against all odds, but would also outlive him for decades, perhaps even centuries.

Joan of Arc was also taking on the mantle of leadership when she said to her army, “I am not afraid. I was born to do this.” In speaking plainly, she was true to her roots, but this simplicity of style inspired the soldiers to do great thinks and eventually to change the course of history. By practicing strong communication in your everyday life, and by staying true to your own roots, you can become such a leader as this.

How important is choosing and using the right phrase for a leader?

Patrick Alain: Selecting and delivering the right phrase is paramount for any leader because it is his or her ability to do so quickly, calmly, and without error that becomes the talk of the mail room, the water cooler, or even the board room. Nearly anyone can spout mundane prattle at any given time, but a leader understands the importance of the proper words. Knowing which phrase to use is incredibly invigorating, just as fumbling for the proper words can cause others to lose confidence. Consider former president Richard M. Nixon, an amazing diplomat, but one who will forever linked to the irksome phrase, “I am not a crook.”



Patrick Alain (photo left)

The phrases suggested for each situation range from Conciliatory to Argumentative. What is difference between those two extremes?

Patrick Alain: There are times that the leader must be a peace maker or a master of compromise. This demands a more conciliatory approach to speaking. At other times, the leader must wage war, for lack of a better term, with others in order to carry the day. It is up to the leader to sense what is best for any unique situation and to know enough about correct phraseology to strike the proper tone in his message. In The Leader Phrase Book, I propose a wide scope of phrases for a given context. The phrases are sorted between two extremes so that the reader can pick and choose according to the mood he wishes to convey.

Can even the slightest difference in the wording of the phrase have a deep impact on the results?

Patrick Alain: Absolutely. A slight difference in wording can have a dramatic impact. Nitpicking on words is a very efficient way to destabilize your interlocutor. Lawyers are the experts. The Leader Phrase Book is to often provide slightly different ways to say the same thing, leaving it up to the reader to decipher their subtle meaning an to adopt the phrases that either make the best impression at a particular time, or that suit the reader’s personality the best.

Do the phrases in the book work for people who are not yet in leadership positions but must still get things done?

Patrick Alain: Of course they do. Nearly everyone working in a non-leadership role dreams of the day when they will move into such a position. Often, they have no idea how to approach the transition and are unaware of just how significant a comprehensive grasp of the language of leadership can be to them. This book is aimed squarely to people who strive to rise above. It can serve as their jumping off point!

What is the first step a person should take toward improving their communication skills and using the right phrase?

Patrick Alain: The first step is to purchase a copy of The Leader Phrase Book. It contains 3,000 powerful phrases that put people in command of their life and career. The second step is to carry this book with you always so you can read it, absorb it, and even practice it. At first, it might feel more right to practice the phrases on other people in your peer group. That way you can share the book’s power with others and practice using the phrases together.

This kind of role playing makes it much easier to know which phrases to use when it is time to use them on others who you do not know. The third and last step is to encourage others to use the material in The Leader Phrase Book once you have demonstrated to them all the good it can do.

What is next for Patrick Alain?

Patrick Alain: In 2012, I am scheduled to coach numerous business executives and high profile managers from Fortune 500 companies. On the other hand, I aim to triple my company’s size by writing and publishing additional books. I have a feeling you’ll be interested in covering those books as soon as they hit the shelves.

*************

My book review of The Leader Phrase Book: 3000+ Powerful Phrases That Put You In Command by Patrick Alain.

Tags: The Leader Phrase Book: 3000+ Powerful Phrases That Put You In Command, Patrick Alain, leadership communication skills, business author interviews

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The Leader Phrase Book by Patrick Alain - Book review

The Leader Phrase Book

3000+ Powerful Phrases That Put You In Command

By: Patrick Alain

Published: November 27, 2011
Format: Paperback, 224 pages
ISBN-10: 1601632002
ISBN-13: 978-1601632005
Publisher: Career Press












"The fact is no matter how successful you are, chances are your speaking (and listening) skills could use some polishing and fine tuning", writes internationally known video game developer Patrick Alain, in his practical and useful reference book The Leader Phrase Book: 3000+ Powerful Phrases That Put You In Command. The author shares over three thousand game changing phrases to boost leadership effectiveness in any given situation, and with any size of listening audience from one to thousands.

Patrick Alain understands that the ability to speak boldly and persuasively is essential for achieving success as a leader. With communication skills being critical for expressing ideas, inspiring followers, and leading others, the author provides a veritable cornucopia of appropriate phrases for all leadership situations. By being in control of their words, effective leaders are seen as both more charismatic and more trustworthy. For Patrick Alain, using the right words and phrases, in any type or form of communication, leads to leadership success and a fulfillment of the leader's overall potential.



Patrick Alain (photo left) recognizes that utilizing the appropriate words and phrases is not restricted to the workplace. Strong and persuasive communication skills are necessary in all aspects and areas of one's life. The author presents effective phrases for use on any occasion.

The author provides appropriate phrases, ranging from less effective to more effective, for application at just the right time. The areas where the phrases prove useful are as follow:

* In general conversation
* In the workplace
* To resolve conflict and anger
* At times when diplomacy is required
* To assist in the art of negotiation
* To aid in problem solving
* To extend courtesy to others
* To survive and succeed in unpleasant encounters

For me, the power of the book is how Patrick Alain presents three thousand useful phrases in a concise and easy to reference format. The phrases are broken into very user friendly sections, each one covering a different situation where strong communication and leadership skills are necessary for reaching a successful result. The author also places the phrases on a an easy to understand continuum, where the best and most effective phrases are placed at one end of the spectrum, with the less useful and even counterproductive phrases at the other end of the ranking.

The book doesn't have to be read from front to back. It can be read from the inside out, back to front, or even in bits here and there. The author even recommends that the book be read in any order, and that the needed phrases be used as necessary. Overall, this excellent and handy reference book is like a thesaurus of effective leadership phrases for every situation and occasion that may arise in a leader's personal or professional life.

I highly recommend the very hands on and results oriented book The Leader Phrase Book: 3000+ Powerful Phrases That Put You In Command by Patrick Alain to anyone seeking to improve their leadership skills dramatically through more effective speaking and communication. This book will transform the average leader into an extraordinary and inspirational one, credited with both charisma and trust.

Tags: The Leader Phrase Book: 3000+ Powerful Phrases That Put You In Command, Patrick Alain, leadership communication skills, business book reviews

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Borrow: The American Way of Debt by Louis Hyman - Book review

Borrow

The American Way of Debt

By: Louis Hyman

Published: January 24, 2012
Format: Trade Paperback, 304 pages
ISBN-10: 0307741680
ISBN-13: 978-0307741684
Publisher: Vintage











"Understanding the history of debt gives us a sense of both debt's possibilities and its dangers. Rather than being an always evil bogeyman, credit has the capacity to enrich our lives and make our dreams come true. Misused and misunderstood, though, credit can just as easily become the stuff of nightmares", writes assistant professor in the Labor Relations, Law, and History department at the ILR school of Cornell University, Louis Hyman, in his very insightful and brilliant book Borrow: The American Way of Debt. The author describes the rise in consumer credit, and how it transformed both the economy and the culture of America.

Louis Hyman recognizes the importance that the role of credit played and continues to play in the consumer economy of America. The author also points out that while consumer credit added to the quality of life for many people, it caused great hardship to others. Like anything else, credit is a tool that can be beneficial if used wisely; and a danger if misunderstood or used incorrectly. The culture of America changed in the 1920s as agriculture began to be replaced by the new industrialization of the economy. As people became employees, who also held hopes of higher future incomes, those expected earnings replaced cash in hand as the reason for purchases. While credit without interest represented a danger to business in the nineteenth century, the commoditization of interest bearing credit offered a boon to business in the twentieth century.



Louis Hyman (photo left) outlines the benefits and calamities that resulted from this transition in credit and its role in the economy. The author applies solid historical research to develop his case credit is the story of both the borrower and of the lender. Both sides of the credit equation have experienced good times, when credit benefited both parties, and bad times, when credit failed one or the other signatories. The reliance on expected future earnings as the fuel to maintain the credit engine was effective in times of economic expansion.

During periods of economic recession and depression, credit not only destroyed borrowers, but many unwise lenders as well. As the current economic slowdown plays out, and credit is tighter than during the previous decade, the problems for creditors and debtors have been brought out into the open. As Louis Hyman points out, this is nothing new. These same credit based problems have arisen in the past; as Americans discover that everything old is new again when credit buying forms so much of the aggregate economic activity.

Louis Hyman guides the reader toward those periods of time when a credit based culture and economy collide with economic downturns and difficult repayment. Those periods of time also coincide with the selling of debt either welcomed gladly by investors or shunned as a terrible investment. With the commoditization of credit, the various historic and contemporary failure of debt based investment vehicles, to find an investor market, precedes and coincides with a credit and liquidity crunch.

For me, the power of the book is how Louis Hyman presents a fair and balanced historical appraisal of the role of credit in the American economy. The author does a fine job of demonstrating how, in the contemporary credit fueled bubbles, consumer credit for housing crowded out business credit. The impact of that crowding was an economy based on housing, rather than a sustainable, and more widely based economy. The housing credit bubble, along with the failure of the near worthless investment vehicles created to purchase the debt, crashed as it did during the Great Depression. The result was foreclosure for underwater home buyers, and insolvency for banks and investment houses.

Louis Hyman points out that generational memory, or lack thereof, plays a powerful role in the repetition of the credit cycle. Those generations who came of age in hard economic times either feared or showed caution with credit. The generations who came of age in good times assumed more credit risk, as they had not known the hard realities of credit and its failures. The author provides ample evidence that the story of credit in America is as much one of culture and of values, as it is of economics. When culture and economics clash, credit problems are created that damage both the culture and the economy.

I highly recommend the timely and well researched book Borrow: The American Way of Debt by Louis Hyman, to anyone seeking an engaging and well presented history of America's credit and how it almost bankrupted the country. This book is a must read for anyone who cares about the state of the economy, and the role that debt plays in both its growth and its economic depressions.

Tags: Borrow: The American Way of Debt, Louis Hyman, credit and borrowing in America, business book reviews

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