13 Jul 6 Books That Help You Make Successful Strategies For Business
Are you looking to scale that extra mile of growth by enhancing your knowledge about business? It’s not always innovation that can lead you to the path of success, strategy and its execution play a key role. Many times, the mantra of strategic business success is right in front of you, all you have to do is be aware of it.
Some of the world’s most successful people have already opened their business secrets to the world in the form of self-improvement books which can help you greatly in improving your business performance.
Here are 6 best business books that can help you create successful business strategies and boost performance.
1. Business Strategy: Opportunity Managing Uncertainty, and Enterprise by J.C. Spencer
Irrespective of the nature of your business, applying the right strategy is key. J.C. Spencer, in his book, develops a creative approach towards understanding the strategic aspects of business and makes it extremely easy for the reader to comprehend them.
In his book, Spencer derives ideas from various aspects of business – economics, entrepreneurship, philosophy, and more to stress on the significance of judging the strategy and its implications. He asserts that it is important for a visionary to design strategies, taking into account not only the business model, but also the uncertainties that come along with it. The book has been well-received even by critics and has been termed as a great read for business value creation through structured practice.
2. The Millionaire Next Door by Thomas J. Stanley
With an in-depth experience of interviewing the elite class of successful people for over 20 years, the authors of ‘The Millionaire Next Door’ came to the conclusion that lifestyle plays a huge role in turning a regular guy into a millionaire.
Whether it is about living frugally or choosing an occupation intelligently, they found that it’s not only the business acumen of a person, but the lifestyle too that makes a huge difference in making one successful. They advise that if we bring strategic changes in our lifestyle and in the way think and act, our business will automatically show its positive effects, further adding to success.
3. Tilt: Shifting Your Strategy from Products to Customers by Niraj Dawar
Having authored publications for names such as Harvard Business Review, the M.I.T. Sloan Management Review, and the Financial Times, Niraj Dawar brings us an apt book that focusses on customers of the business. The book beautifully illustrates the importance of designing business strategies around customers and gaining competitive edge through their effective execution.
The book asserts that while it is important to manufacture a good product for customers to buy, a good product is not the only thing that will bring them to you. To gain competitive edge, it is imperative to understand what your customers are looking for and develop a profound strategy around it. It may not be only the product, but also customer service, changing preferences, and more.
4. Fewer, Bigger, Bolder: From Mindless Expansion to Focused Growth by Mohanbir Sawhney and Sanjay Khosla
Across the various big and small companies that Sanjay Khosla and Mohanbir Sawhney worked in, they always felt that the firms needed to spend more mind and monetary resources for achieving sustainable profitable growth in the long-term. In their book, they prove that if showered with the right incentives, managers going by the program advised by them can produce overwhelming results in remarkably short timeframes.
If you’re assuming it’s all just theoretical and too good to be true, then think again. When working for Kraft Foods as President, Khosla increased the company revenue from $5 billion to $16 billion with a 50% increase in profitability in a short span of six years.
The book emphasizes on a 7-step program that authors refer to as Focus7, which can be used to create an autonomous virtuous cycle of growth while working within the usual boundaries of people, strategy, execution, and organization.
5. Different: Escaping the Competitive Herd by Youngme Moon
Achieving competitive edge and keeping a watchful eye on competition is great, but there’s a fine line between keeping an eye and being obsessed. In the race of being ahead of the competition, there comes a point when we stop focusing on innovation and creativity and center our world on beating others. The author, Youngme Moon, through his book Different asks readers to step down from the treadmill of competitive racing and be adventurous.
The book asserts that it is important to embrace what your product can and cannot do and then work to convert weaknesses into strengths. The tone of the book is extremely friendly and appeals even to readers who don’t particularly read business books.
6. The Plugged-In Manager: Get in Tune with Your People, Technology, and Organization to Thrive by Terri L Griffith
The book discusses the importance of recruiting, training, and effectively rewarding a manager with the best of technologies and tools in great detail. A well-equipped manager will create effective solutions for your business. The accomplished author of the book, Terri L. Griffith advocates relying on the latest technologies and organizational assets such as managers to accomplish tasks and goals.
According to Griffith’s book, a manager should be plugged-in with people of the organization to ensure that the company moves in the right direction at all times. The book is termed as a must-read by renowned authors to help make your organization successful in this technological era.
The world is full of examples where people have made fortunes with a simple idea, and also lost everything despite having the best resources. It all boils down to how effectively you strategize for your business and execute those ideas. If you’re unable to think of a solution, do read the books mentioned in the list along with several others. These books provide a great way to access your vision and offer proven answers to your dilemmas. So, go ahead, read all you can!