Summer Reading List: Top Five Business Books of All Time

  1. “The Lean Startup” by Eric Ries Core Concepts: This book introduces the concept of lean thinking for startups, emphasizing rapid prototyping, validated learning, and iterative product releases. It advocates for building a minimal viable product (MVP) and using customer feedback to pivot or persevere, ensuring resources are used efficiently and effectively.
  2. “Good to Great” by Jim Collins Core Concepts: Collins explores why some companies transition from being good to great, and others don’t. The book identifies key principles such as the Hedgehog Concept, Level 5 Leadership, and the importance of getting the right people on the bus to drive sustained excellence.
  3. “The Innovator’s Dilemma” by Clayton M. Christensen Core Concepts: Christensen’s seminal work discusses how successful companies can fail by doing everything right, due to disruptive innovations. He explains how smaller companies can disrupt the market with new technologies, forcing established firms to innovate or perish.
  4. “Thinking, Fast and Slow” by Daniel Kahneman Core Concepts: Nobel laureate Daniel Kahneman delves into the dual systems of thought—System 1 (fast, intuitive) and System 2 (slow, deliberate). Understanding these systems can help leaders make better decisions by recognizing and mitigating cognitive biases that affect judgment and decision-making.
  5. “The 7 Habits of Highly Effective People” by Stephen R. Covey Core Concepts: Covey’s classic focuses on personal and professional effectiveness through seven habits, including being proactive, beginning with the end in mind, and putting first things first. These habits promote a balanced approach to leadership and personal growth, fostering sustainable success.

Enjoy these insightful reads that can transform your approach to leadership and business strategy this summer!

standardJuly 26Tom SalonekBook Summary

Read Drive, Watch Cosmos, Stop Not Delegating

Here’s my reading, watching, and stopping for this week:

  • Stop not delegating.  Anytime I do a task, I ask whether or not someone else could tackle it.  From managing board meetings for the next year to setting up the weekly newsletter to approving requests for donations from our Foundation, I have my trusted team work the details.
standardOctober 20Tom SalonekBook Summary

Read The E-Myth, Watch Wampler’s Ascent, Stop Services No Longer Needed

Here’s what I’m reading, watching, and stopping:

  • Early in starting Intertech, I read The E-Myth.  It focused on the importance of consistent systems in running a business.  The author, Michael Gerber, shares how Mcdonald’s with systems built a business on getting kids to do in their stores that most can’t get them to do in homes.   
  • Watch Wampler’s Ascent, which is a documentary on a man who has severe EP but does a climb up “El Capitan.” It’s inspiring and reminding that all is achievable in life if we have the right attitude.
  • Stop services you may have been using but no longer need.  In reviewing credit card and other statements for myself and the firm, some services and charges are no longer required.  For example, for the local paper, I choose digital.  Yet, The Economist has more comprehensive, in-depth articles that I like to read in print.
standardOctober 11Tom SalonekBook Summary

The Art of Stopping Time

In The Art of Stopping Time, Pedram Shojai, the author, shares something we all know; our most treasured resource is time.  So how do we leverage it?  Stop it!

What we get out of time depends on mindfulness, energy, and how we focus and spend our time.  For all of us, time is the great equalizer—we all have the same amount of hours in a day.

The first step is to determine how we are spending our time to begin an assessment to maximize time.  Is time spent on something meaningful or pleasurable?  Next, consider energy to invest in worthwhile endeavors versus low-energy tasks like doom scrolling social media.  Last, Are we mindful?  Are we living in the moment?

The author reminds us to cut bait on goals or activities that are no longer relevant and deserve our time.  Then, use this newfound time in rewarding areas and produce results.

What’s your ROI on time?  In investing, there’s a return strategy.  What’s your time investment strategy?  When time pops up, say an appointment cancels, or a commute is faster than planned, there’s a decision on how to use this extra time.  Like investing, knowing how to “invest” this spare time is essential.

We have more power over our time than we may initially think.  While some obligations are required—say, paying taxes or feeding our pets—others are at our discretion.  These discretionary activities could include letting go of relationships or no longer relevant or essential activities.

For time, the “how” is as important as the “what.”  Are there ways to get two things done at once?  Say you want to exercise and spend time with your kid.  Could you have your kiddo join you for your run or bike ride?  Or, if you have a conference call and need to drop off your child for a playdate, could you drop your kid off while having your conference call?  Small decisions compounded make for big-time impacts.

Our mobile phones are a double-edged sword.  While they can be productive, it’s a quick way to be distracted or entertained.  The next time there’s a fleeting moment, resist the temptation to grab the phone and use it to think through a current problem or reconnect with a past friend.

Be mindful.  Be present.  Be thankful.  On vacation or at work, wherever you are, think “this is the last time I’m ever here.” If this was the case, how would you be present?  Being mindful lets us live in the moment and stop time. 

While no one can stop time, we can prioritize, organize and be mindful.

standardMay 3Tom SalonekBook Summary

13 Things Mentally Strong People Don’t Do: Take Back Your Power, Embrace Change, Face Your Fears, and Train Your Brain for Happiness and Success

In the book “13 Things Mentally Strong People Don’t Do: Take Back Your Power, Embrace Change, Face Your Fears, and Train Your Brain for Happiness and Success,” the author Amy Morin outlines core principles of success.  I recap the book in a minute or two; read below:

  1. Don’t feel sorry for yourself.  Instead, be thankful and remember it’s impossible to feel scared and grateful at the same time
  2. Keep your power.  Here are signs of losing power—others make you angry, guilty, or judged.  Control your emotions and set boundaries if there are people in your life—say a boss or in-law—who makes you feel your power is fleeting
  3. Lean into change.   When change is needed, make a plan and have small attainable goals.  As the saying goes, “by the yard, it’s hard.  By the inch, it’s a cinch.”
  4. Let go of things outside of your control.  If within your control, focus your sphere of influence
  5. Realize you can’t please everyone.  In Adam Grant’s book, he outlines helping others, and there are Givers, Takers, and Matchers.  Avoid Takers and meet Matchers in the middle
  6. Be an intelligent risk-taker.  Know the pros and cons, mitigate risks, and know when to walk away.  In looking at solutions, look for “and” answers instead of either-or solutions
  7. Let go of the past.  Forgive yourself, focus on the future, and remember, “you never can ‘should have’; otherwise, you’ll ‘should’ all over yourself.
  8. Learn from mistakes.  What were the failure points when planning a goal or project that didn’t work in the past?  How to mitigate the losses?  To achieve the goal, ask, “In what ways can I [fill in the blank]?”
  9. Support others’ success.  Envy is never good.  Life is not a zero-sum game.  Look for opportunities to collaborate instead of competing
  10. Know there will be setbacks and don’t give up.  Be kind to yourself.  Get knocked down?  Get back up
  11. Be O.K. being alone with your thoughts—journal, meditate, exercise
  12. Remember entitlement replaces the expectation of success with the actual work to achieve success
  13. Persevere with patience.  Read any book about success and know from the lightbulb’s invention to organizations that dominate the world today, know time is on your side and persistence beats resistance
standardMarch 22Tom SalonekBook Summary