Book Summary: Mind Your Own Business

Comments (12)


Book Summary: Mind Your Own Business

By: Regine P. Azurin

This article is based on the following book:


Mind Your Own Business


A Mavericks Guide to Business, Leadership and Life


Doubleday & Company, Inc., 2003


ISBN 0-385-50959-6


208 pages

A maverick is an independent person who will not go along with the other members of a group (Oxford ESL Dictionary). This book provides priceless stories and insights from a maverick of the business world; an exemplary business leader who prefers not to follow orthodox beliefs in business, nor be eaten by the hyped up ideas of the present. Instead, he chooses the course of action that is appropriate for the changing times.

The Mavericks Way: New Old Thing

What is effective? This is the question answered by the maverick. He reconciles the good things from both the Old and New times, and focuses on what is really effective in confronting the challenges of 21st century business dealings.

A maverick thinks outside of the bed, knows that it pays to be daring, does not allow technology to tyrannize, finds strength in diversity, maintains balance and harmony among people, sets leadership by example, has a strong ethical base, and values employees and customers. A maverick knows his customers and believes strongly in his products.

To a maverick, a company is a not just a big candy store. It is a living instrument with living human beings. It should have a HEART.

Keys to Leadership

The leader leads. He exercises critical judgment, which will have a great impact on his people.

The leader defines the company. The leaders responsibility is to explicitly present and advocate the companys purposes and goals.

The leader inspires. He gives sense and meaning to the job. He makes his people realize, that beyond profit there is an underlying meaning, value, and deeper reason for the work they do.

The leader should be the evangelist. He should be able to exercise his influence, to sell the values of ethical conduct.

The leader must see the company as a coherent whole. He should be aware of the diversity in the company and bring this together to promote the whole.

The leader must know that there is no better way to create a family in the workplace than to encourage the family at home. Harman International introduced the anti-domestic violence program in the company, which reinforces the idea that the company cares.

The leader should never underestimate the value of disciplined hard work.

The leader empowers subordinates to do their jobs. He should institute programs for the guidance and training of his people. He should always keep the lines of communication open.

The leader promotes closure. He should know the right time to get things done.

The leader knows what he doesnt know. The leader is not afraid to ask clarifications, if he does not understand a particular subject.

The leader knows the meaning of two minutes. He should respect the time of others and that of his own.

The leader teaches.

Above all, the leader develops others. As Lao Tzu advanced: the leader having accomplished great things, the people all feel they did it themselves

The very best leaders go beyond the mere setting of example. He should be able to cause a leap of imagination and faith in his people.

The leader recognizes that people are often at their very best the moment they have been let go. There are times when an employee doesnt like the work anymore, or he is unable to appreciate how the whole enterprise works- this is the time to set him free.

A Company Must Be Profitable

1. A solid financial base is fundamental.

2. Debt should not exceed equity. A debt to equity ratio of 1 to 1 or better should be the goal, so that a companys leader and key executives do not spend all their time on mere survival -paying bills, meeting the payroll, and keeping the banks happy- but moving forward and meeting bigger challenges and doing more visionary work.

3. There should be a regular process for annual strategic planning and budget-planning.

The Fundamentals of Profit and Loss

1. Manage expectations, not the profits. Keep the shareholders informed, to eliminate doubts of manipulating numbers.

2. The Chairman and CEO should be financially literate. They should know what the numbers really mean.

3. Good growth and profitability requires the exercise of critical judgment. The leader should make certain that the budget is one the company can live with.

4. In repurchasing the companys own stocks, make sure that it will add to the companys earnings.

5. Look into the availability of funds so that the balance sheet will not be compromised.

Make an Edge in the Business World

1. Writing. It is a unique and powerful skill you can use for clarity and persuasion.

2 Public Speaking and Story-telling. Speak directly, and without notes, to your audience. Individuals respond to a well-told story.

3. Thinking. People do not respect sloppy thinking in a leader. Thoughts should be carefully considered then expressed directly, crisply, and clearly.

About The Author

Summary By: Regine P. Azurin


http://www.bizsum.com


"A Lot Of Great Books....Too Little Time To Read"


Free Book Summaries Of Latest Bestsellers for Busy Executives and Entrepreneurs


Mailto:freearticle@bizsum.com


BusinessSummaries is a BusinessSummaries.com service.


(c) Copyright 2001-2002, BusinessSummaries.com - Wisdom In A Nutshell


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Comments

Sammuel M 22.11.2006. 22:41

Putting together a business plan and would like to know how to get investors? Putting to getter a businiss plan. Would like to discuss with like minded people and investors.

Sammuel M

Admin 22.11.2006. 22:41

According to the book ?The ABC's of Writing Winning Business Plans: How to Prepare a Business Plan That Others Will Want to Read -- and Invest In? http://www.amazon.com/exec/obidos/ASIN/0446694150/powerhomebizguid by Garrett Sutton, below are some tips to make a winning business plan that can get funding:

- Money follows management. Investors look first at the people involved in the company. If you are just starting out and don?t have relevant experience, investors expect to see that you have an experienced team of advisors and employees helping you in the business.

- Make sure you ?sell? the one reason your business will become profitable.

- State clearly the strategies you will employ to get the word out about your business. Your business plan must show how you will leverage the Internet, public relations, viral marketing, and other strategies to attract customers.

- Present realistic estimates of the time, energy and costs of building a successful business. Do not underestimate or overestimate revenues. While investors know your numbers are simply guesses, they want to see that your numbers are within the ?range of reality.? Be careful of your financial statements: this is one area where you can easily lose credibility if presented poorly.

- Benchmark similar companies to show that you?ve done your homework and researched the market.

- Your Executive Summary is your calling card. If it is not a winner, investors may not even read your entire plan. Emphasize your own as well as your team?s track record in the Executive Summary.

- Before sending your business plan to lenders and investors, send it out first to a few in order to get feedback. You?d want to correct your plan if someone tells you that you?re way off mark, rather than have a potential investor tell it to you and lose the chance to get the funding you need.

Admin

Gizelle 10.01.2008. 14:57

I am interested in starting my own spa, how do I go about doing that? I am intereseted in starting my own Spa Retreat. I enjoy going myself and I would like to offer that to people as well. I would like to offer nails, massages, facials. Anyone know how I can start>?

Gizelle

Admin 10.01.2008. 14:57

You will, probably, have a hard time financing this operation, so expect to need most or all the money to startup and run six months losing money.
1. research the competition-this means try to establish where the spa would have the best chance on success.
2. you must satisfy one of three requirements to successfully start up any business
a. have a unique business-you don't-whatever you may think-your's will not be unique-whatever you do will be different, but still competing with spas
b. have a demonstratabily superior product-you don't-the sound of your name does not, automatically, reqister superior-for example-you may not have ever drriven a rolls royce, but you recognize the quality-for this you can charge more-and the public will pay
c. have a comparible product, at a cheaper price.
your nitch will be to offer a spa where there is no spa presently, or a better price.
THEN THE BIGGIE!! you have to let the public know it's there. this can be anything from newspaper/word of mouth/flyers/arrangement with a health club/etc. an example: krispy kreme doughnuts. for about four months before they opened their locations in San Antonio, TX. they went around giving away free doughnuts to all businesses. the result-when they finally opened there was a two hour wait to buy doughnuts and it made the news-complete with video of the lines. one thing you can not do is depend on the phone book-one-it's really expensive-and 2. the phone book only comes out once yearly-either you time you opening to the new phone book (hard to do) or you make arangements to do your own advertisement-at least initially.
next-line up equipment-building-it will, probably, need to be redone to accomidate your needs-this will require an arrangement with the owner as to who pays-either you will-it will be split-or with a long enough lease the owner might.
next-employees-this is where you might consider partners-they have a vested interest-skills-and money-much less desireable,but an option, would be to lease out space to operators-nails-massage-etc. the down side is you lose the ability to control what is offered-the cost-availablity-etc. hard to do with a day spa (where there are packages)-expect some problems with the employee route (unless you can come up with an awesome advertiseing campaign-the employees will expect to have customers and will bail if there are none-partners will go in expecting a rough ride initially.
summary:
1. figure method of initail advertiseing
2. decide location
3. find building
4. buy equipment
5. two weeks prior to opening start advertising campaign-you can't start any sooner-cause you have nothing to offer (no samples) and the publics memory is really short-bombard them with, whatever, for two weeks-targeting area of advertisement/initial offering (specials)-method of advertiseing-one good idea would be to offer a package deal (really cheap) for several treatments-buy two get two free kind-this gets floor traffic-get people back-even offer that they can share-you're trying to get bodies in the door-the more you get the more people can talk about your wonderful service.
sorry about the spelling-my fingers and mind don't always work together, and it's too long for spell check

good luck

Admin

SA?MA 07.06.2010. 21:55

how do i write a book and get published? i have no formal training on being an author, but i have always been aable to write very well. i am interested in writing a book and publishing it, but i have no idea where to start. any suggestions? thanx. please no rude comments!

SA?MA

Admin 07.06.2010. 21:55

First you have to write the book. I assume since you said you are a good writer you won't need too much help with this part of it (although even the best authors still have things they can improve on). The main thing is to make sure you work on it regularly and get the whole thing finished. Then you should set it aside for a while before going back over it and editing it. You may have heard before that writing is rewriting, and that is very true. You will need to revise it a few times at least before it is in good enough shape for you to send it to an agent or publisher. You may also want to hang around some writing forums and see if you can get in a critique group. A good critique group is very important and very helpful. Not only can you help each other improve, you can also share experiences and learn about the industry together. Just make sure all the authors are open to having their work critiqued and take writing seriously.

Learn as much as you can about the industry. There is a lot to learn. Luckily you will have a lot of time to sort through it all. From what I've seen, other authors are helpful and open with this. Another reason writing forums are a good place to hang around. Again, make sure you are with people who take this as seriously as you do.

Once you have a finished manuscript that you feel confident having an agent or publisher read, you need to write a query letter. You can find many examples of query letters online. And sites like http://queryshark.blogspot.com/ can be very helpful.

You need this letter to be as perfect as possible, it's very important. This is what you send to agents and publishers to make them want to read either part of your manuscript or all of it. Sites like http://querytracker.net/ will help you find the right agents to send your query letter to. You have to make sure you send your letter (along with any other material they request, such as a summary or the first x amount of chapters) to agents who represent your type of story, who are taking on new clients, and who you feel you have a good fit with. Use the internet to find out as much as you can on every agent you query. A bad agent can be worse than no agent at all. But a good agent will make getting published and negotiating a contract much, much easier. Keep in mind that most of the big publishers won't even look at your stuff unless you have an agent. But remember that no real agent will EVER ask you to pay them. Agents get a percentage of the money they make for you, that's it. There are a lot of scam "agents" out there, so do your research!

If the agent likes what you've sent them they will request to read either a portion of your manuscript or the whole thing. Or they might just want to talk to you more about it. Most often they will give you a rejection. But that's okay, look for other agents who would be a good fit. Don't send your query to 100 people at once. Try small groups of 5-10 and give them some time to respond before sending out another round. Remember that most agents and editors in this industry know each other and you don't want to burn bridges with a bad attitude, by querying the wrong agents for your genre, or by querying everyone under the sun.

You can also attend writing conferences and meet agents and publishing editors that way, including editors from the bigger houses on occasion. These can get expensive, but it is one of very few ways to speak with an agent or editor directly without having to query them first. I have personally never done this, but I know there are people who have.

Once you get an agent (or publisher on your own, in which case I would still suggest trying to get an agent to at least negotiate your contract for you) you will have to edit and revise again and again and possibly again. Being ready to revise is one of the most important things in this business. Also, be aware that things move VERY slowly at times. It can be months from the time you get an offer to the time you get revision notes or a contract to sign. Be ready to wait and work hard and understand that you will probably get a lot of rejections along the way. Keep trying, keep finding ways to improve, don't let the rejections put you off. Eventually you will make it.

Admin

Brit 03.11.2008. 04:08

What's the best method to memorize with? I have to memorize the following excerpt from the Constitution:
We hold these truths to be self evident,
that all men are created equal,
that they are endowed by their Creator
with certain unalienable rights,
that among these rights are Life, Liberty and the pursuit of Happiness;
that, to secure these rights,
Governments are instituted among Men,
deriving their just powers
from the consent of the governed;
that whenever any Form of Government
becomes destructive of these ends,
it is the Right of the People
to alter or abolish it,
and to institute new Government,
laying its foundation on principles
and organizing its powers in such form,
as to them shall seem mostly likely to effect
their Safety and Happiness.

I have to memorize it with all the spelling, capitalization, punctuation and line breaks in tact. Then I have to write this all out, exactly as I just typed.
How can I memorize this as quickly as possible?

Much obliged.

Brit

Admin 03.11.2008. 04:08

STRATEGY #1
Underline or highlight your own lines. A lot of students do this, even after they have been shown a better way. This technique tends to produce a blocky delivery and if something goes wrong, people that use this style are usually lost.

STRATEGY #2
Read your lines out loud; put the script down try to repeat them. Work from the beginning to the end of the script. This technique is often paired with strategy #1. This tends to result in an unbalanced exposure to the script. The actor may become very familiar with the beginning of the play (almost bored) and have a much weaker grasp of their last scenes.

STRATEGY #3
Use a partner to read the other characters lines and to prompt you. This can be effective; however, you may not always have this person to help you. The difference in pacing and delivery between the partner(s) and the actors on stage may cause a problem.

STRATEGY #4
Use a tape recorder. Read the lines of each scene into the tape recorder. All the lines, not just yours. Say the lines in a flat, monotone voice. Try not to use any inflection at all. Record the other characters' lines in a normal speaking volume, but record your lines in a whisper which is loud enough to hear, but noticeably softer than the other characters' lines. Play the recorded scene over and over, bit by bit. As you hear your lines, try to speak them with the recording. Talking soft enough so you can hear the recording. As you start to remember your lines, say them louder and louder until you are speaking louder than the recording. If you are uncertain, simply get quieter again so you can hear the recording. This is one strategy which I recommend.

STRATEGY #5
Memorize the whole play. I?m not joking. This is my favorite technique and I think it is the easiest. Most of my students who have given it a fair chance agree. There is a plan for memorizing the whole play and you must follow it, if it is going to work for you. First you must memorize the whole play as a single sentence. E.g. Romeo and Juliet: They meet, fall in love and kill themselves. You then memorize each scene as a one sentence summary. Then flesh out each scene that you are in. Eventually you memorize the scene in a form something like this: The scene starts with Mother and Dad having a discussion about Frank then the priest comes in and they talk about the wedding plans. When they start talking about the signing of the book I come in form the kitchen and say, ?Good evening, Fr. O?Malley. Are you well tonight? I heard you had a bit of a cold.? He says he?s feeling a little better. Father says something about it?s going around. Mother says something about the season for bugs. I then say, ?Did any one see my music book? I was going to rehearse but I can?t find it.? When you finish, you have memorized the whole play in a form that helps you visualize the shape of the whole play and each individual scene. Actors that use this style can cope with changes and problems easily. You can also deal easily with any gaps that might develop in your memory because you know the shape of the scene. The reason that this technique is easier is simple: the human mind finds it very difficult to retain unrelated information, in this style all the information is connected to each other, that?s why it is easier to remember.

STRATEGY #6
Use flashcards with cues on them. It might work; however, I suspect that it would give you a very blocky delivery, with little shape.

STRATEGY #7
Got a long scene or play with a lot of repetition or similar lines? If so, you might find it useful to memorize the subtext, the stage business, and the blocking that goes with each version of the similar passages. I say ? ? under my breath at the window, then I say it a little more agitated when I?m seated in the chair, then I say it wistfully when I?m gazing into my cup etc. This is a difficult situation; use whatever works.

STRATEGY #8
Create associations between the cue and your line. For example, Charles in Blithe Spirit has a line after his wife sips from her martini and says, "Lovely, dry as a Bone." He then responds with a toast, "To the Unseen". A "bone" is "unseen"; this may be an association that might help you remember. It doesn?t matter how wacky the association is as long as you can remember it. This may be useful to some people in certain circumstances.

STRATEGY #9
Sing your lines. Use a simple tune that you know well and sing your lines to it. Some people find that music that is used to underscore a scene helps them remember. This would likely be most useful for lines that are divided up into small monologues.

STRATEGY #10
Visualize your script. Imagine what your page looks like, the blocks of text and where you are in that block. You might also consider picturing your script like a road with scenes that are played out at various stops on the way. There are an unlimited number of ways that you might visualize the text. The latest research shows that pe

Admin

john r 23.09.2011. 12:56

Why would anyone convert to Islam? Given the world problems plus one's own life difficulties, I wonder why anyone would want to add to them by converting to the most hated, vilified and irrelevant religions .Surely it is like putting one's head in a lion's mouth ? It is bad enough being born Muslim, but to willingly convert to this evil? Answers please.

john r

Admin 23.09.2011. 12:56

(Apologizing in advance for the long post)
Well, speaking as someone who converted to Islam, here's why I did it:

When I first started researching Islam, it was out of curiosity. I wanted to know a bit about this religion and this region in the world. Now, I had two options... I could either accept everything I came across, or I could take it at face value and do my own research. Since there were so many conflicting opinions, I went with research. I bought books, I read the Quran (not what websites pick apart and tell me it says, but the actual book), I read articles, I watched videos, I listened to stories from both sides. And one thing I realized is that there is a HUGE amount of ignorance in this world that can be cured with just a little education.

So I researched, and what drew me in (and this is the shortened version) is that
- the religion embraces ALL the believers. Muslims call each other sisters and brothers, abhorrs racism and classism, and encourages charity and almsgiving like no other, and teaches Muslims that it's better to give what you can than to be greedy and selfish.
- there is no middle man when it comes to you and your relationship with God. He's the All-Knowing, He knows what we conceal in our hearts and what we reveal to the world. He's Merciful, Forgiving and Just.
- praying five times a day is not meant to be a repetitive ritual, but is meant to connect with God throughout the day when we can easily get lost in the distractions of this life.
- Islam isn't some new religion that a man in the desert invented, but a continuation of the other two Abrahamic religions. Each prophet was sent for a reason, to help guide the believers and keep them from wavering, and each brought a message that complimented the previous messages. Muhammad as the last prophet was the summary to the Word.
- Women, contrary to what you've most likely heard, are jewels in Islam. We are not blamed for he sins of others or evil in general (each person is responsible for his/her own sins). We were given rights 1400 years ago that have just recently been integrated into western culture. We have the rights to education, to inheritance, dowry (it is given to the bride by the groom, not to the groom's family by the bride's family), to work if we want, to stay home if we don't, the right to own property and businesses, we even have the right to have maids and cooks if we need! And since our husbands/fathers are the breadwinners and responsible for all household expenses, even if we do work our income is 100% ours to do with as we like without interference or persuasion from our husbands or fathers. If we want part of it to go towards the home, great! And if we want to save it or invest or blow it all on shoes and handbags, that's our choice.
- Family is a huge deal in Islam. Your parents are your best friends, and you should always repect and honor them, even if they're not Muslim (like in my case). There's a verse in the Quran that says heaven lies at the feet of a mother. And there are Hadith that talk about parents too (particularly the mother).

Ok, I see this is getting long, and Y!A posters aren't well-known for having long attention spans, lol! So if you want more info on what convinced me, feel free to ask! And keep in mind that there is a HUGE difference between Islam and how Muslims act these days.

Admin

Fred 01.01.2012. 02:01

New years resolutions ideas for me and my girlfriend? Have a couple, anyone have any better?

Fred

Admin 01.01.2012. 02:01

? Make new friends
? Make a difference
? Love myself
? Lose weight
? Learn to trust
? Learn to dance
? Write a song
? Write a book
? Work smarter
? Volunteer to help others
? Visit distance family / friends
? Use time wisely
? Travel to new places
? Think positive
? Take an online class
? Take a Trip
? Study Scriptures
? Stop playing video games
? Stop getting angry
? Stay out of Trouble
? Start a hobby
? Start a business
? Start a blog
? Spend more time with family and friends
? Simplify my Life
? Show gratitude
? Scrap book
? Save money
? Run a marathon
? Replace a bad habit
? Repent
? Remember birthdays and anniversaries
? Relax
? Reduce stress
? Recycle and reuse
? Read more
? Reach my goals
? Quit smoking
? Prosper
? Pray daily
? Plant a garden
? Plan a family reunion
? Meditate more
? Mange time
? Make your own website
? Make new friends
? Make a difference
? Love myself
? Lose weight
? Learn to trust
? Learn to dance
? Learn a new language
? Lean to play musical instrument
? Lean something new
? Laugh more and be happy
? Know when to walk away
? Keep a diary or journal
? Increase income
? Improve talent
? Improve study habits
? Improve social skills
? Improve self image
? Improve relationship
? Improve memory
? Improve marriage
? Improve job skills
? Improve education
? Improve credit score
? Improve computer skills
? Improve communication skills
? Improve business performance
? Have family meals
? Go green
? Give service
? Get organized
? Get more sleep
? Get married
? Get involved in community
? Get Fit
? Forgive others
? Finish Projects
? Exercise regularly
? Eat Healthful Food
? Drink Less Alcohol
? Don't procrastinate
? Don't give up
? Don't be late
? Do genealogy
? Control Spending
? Control / eliminate Debt
? Consume less
? Change careers
? Buy a house
? Break an addiction
? Become financial independent / stable
? Be trustworthy
? Be responsible
? Be prepared
? Be open minded
? Be more frugal
? Be kind
? Be healthy
? Be confident
? Be a friend
? Be a better person / parent
? Balance work and family
? Balance my budget
? Attend kid's plays, sports, or other events
? Attend Church
? Acquire a better job
Schedule several ?Date Nights? for the first few months of the year.

Would you like to improve your communication skills?

Draw up your 2012 household budget together. Discuss spending priorities, including charitable donations.

Take turns selecting a favorite Scripture passage to pray about each week. Share your reflections with each other.

Resolve to read at least one book on how to strengthen your relationship.

Dust up your religious education. Read a brief summary of what the church believes about marriage. Why is marriage a sacrament, as well as a vocation? What is marital spirituality?

While it?s important to strengthen the marriage relationship, marriage is also a sacrament of service. It?s true that marriage benefits the couple, but it?s also good for their family, community, and the Church. Resolve to do at least one service activity this year, as a family or a couple. Perhaps it?s bringing canned goods to the local food pantry on a regular basis or helping out with a parish fundraising project.

Admin

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