Some business owners spend tens of thousands of dollars for executive coaching when they could accomplish the same thing with $229.50.
We are big fans of executive coaching, as we have been members of a coaching organization for years now. But as entrepreneurs, it can be tempting to write a large check to close gaps in our leadership teams when small checks will do. Here is one thing you can do today that will help you transform your leadership team. Ready?
Get them an Audible subscription.
Seriously, it's that simple. (And before you ask, no, we do not accept any referral bonuses or other compensation from Audible for this). For less than $230, you can fill your leader’s library with up to 24 amazing books that they can listen to on a commute, during the day, or on a walk around the office. That’s less than one book every two weeks in a year. And here's the kicker...
We've already curated the book list.
In fact, we have outlined specific learning outcomes of each title, So that you can decide which ones your leadership team should prioritize.
Don't want to prioritize them yourself? Great! We've put them in our recommended sequence based on the most ideal order to develop leaders.
Here's the list:
Essentialism: learn how to distinguish the vital few from the trivial many. Another title along these lines is Gary Keller's The One Thing, but I’ve read both, and I recommend Essentialism.
Checklist manifesto: learn how to reduce foolish human error by a simple checklist. Just don't make it too simple, or you’ll miss something big.3. Traction: Get your Vision, People, Process, Data, and Issues all moving in the same direction with the Entrepreneurial Operating System™.
E-Myth Revisited: learn the secrets of the franchise prototype, such that your systemization of your first business repeats itself and multiplies excellence on a large scale.
Seven habits of highly effective people: Master personal and interpersonal alignment for both personal and professional success.
American icon: Learn how an executive from Boeing saved America's automaker just in time to avoid the 2008 Great Recession.
Good to great: Read how disciplined people engaged in disciplined thought to carry out disciplined action. This also serves as a reminder to use technology to accelerate existing excellence, not as a replacement of human ingenuity.
Great by choice: see how great companies remained great by respecting the Trinity of Business Leadership: fanatic discipline, empirical creativity, and productive paranoia.
Scaling up: this is one of the best compilation of resources that we have ever seen, neatly summarized in four key sections: people, strategy, execution, and cash.
How the mighty fall: take caution from the five stages of capitulation that once-great companies tend to follow on their way to oblivion.
The psychology of money: When it comes to personal investments, this is the best book we have ever read, hands down. The applications to business are many, and we would also highly recommend the subsequent book by the same author, Same as Ever (Morgan Housel).
Who not how: whenever you are tempted to ask a HOW question (“how can we integrate this acquisition into our existing business?”) A better question is almost always WHO (“who could help us with this integration?”).
The road less stupid: read this one like the Book of Proverbs, minus the Divine inspiration: a little every day. Keith J. Cunningham gives bite sized mentorship to leaders wanting to learn both from their own mistakes as well as from the mistakes of others.
Outliers: Learn the application of the 10,000 hour rule to master anything, recognize hidden advantages, and be prepared for “good luck” events in your life and business.
One question: Ken Coleman asks a very good question of over 30 different public figures. This is a great way to Crowdsource and broaden your mentorship.
You might not use all of these books. You might see some that we missed, in which case we would love to get your recommendations. And oh, by the way, we only spent 15 of your 24 books above. You now have one of a business owner’s most precious commodities:
Margin.
That's it for today. We hope you've enjoyed this, and look forward to seeing you tomorrow.
Any opinions are those of Timothy Weddle and not necessarily those of Raymond James. The foregoing information has been obtained from sources considered to be reliable, but we do not guarantee that it is accurate or complete, it is not a statement of all available data necessary for making an investment decision, and it does not constitute a recommendation.
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