The World's Best Book Summaries
What is it like to work at Amazon? Is Jeff Bezos really as ruthless as his reputation indicates? Amazon’s work culture is unlike any other technology company. Jeff Bezos is relentless about being frugal and expects every employee to work tirelessly to help build his company. Learn what Amazon’s work culture is like below.
What is a commitment culture, and what difference can it make in your organization? How can you build one and foster its growth? In Smarter Faster Better, Charles Duhigg includes a culture of commitment on his list of ingredients for productivity. He explains what it is and discusses its benefits. Duhigg also outlines steps you can take to build a commitment culture and provides a real-world example so you can see it in action. Read on to learn more about commitment culture.
Do you have a rival whom you admire in some way? Is there a company that does at least one thing better than you do? How can you apply lessons from them to your own business? In his book The Infinite Game, Simon Sinek emphasizes the importance of learning from your “worthy rivals.” A worthy rival is a competitor who is better than you at certain things, and who can therefore reveal to you ways you can improve, enabling you to better survive in the infinite game. Here is how a worthy rival can inspire you to get better at
What is the origin of Wal-Mart? How did Wal-Mart go from a small five and dime in Arkansas to a multinational superstore? Sam Walton, the founder of what is now Wal-Mart, opened his first five and dime store in 1950. Within four years, he would open a second store and by 1962 he would own 16 stores. The Walton Five and Dime grew rapidly thanks to Walton’s superior pricing and business sense. Continue reading to learn more about the origin of Wal-Mart.
Are you bringing a new product into the market? What can you do to create a buzz around your product that won’t die off the moment you stop marketing it? Marketing isn’t the final goal of your new product. The final goal of your product is to be good enough to inspire word of mouth—without this, even with the biggest burst of marketing, your product will die. Think of all the failed products that launched to massive hype – a burst of PR/paid marketing clearly is not sufficient. Here are some tips on how to market a new product—and get
What does it mean to pivot in business? Can you think a fundamental change coming to your industry that could spur you to make such a move? According to Simon Sinek, the author of The Infinite Game, a business pivot is a purposeful, dramatic change that the business makes willingly in order to stay true to its Just Cause—the larger cause it exists to support. Further, it’s a move that you make when things are going well, but when you see that down the road, you’ll need to adjust. Here’s why you need to be always prepared to pivot your
What are Amazon’s management tactics? In what way does Bezos run Amazon differently than any other company? Some of Amazon’s management tactics have become well known, and for a good reason. Jeff Bezos has a unique way of running Amazon and some of his practices include writing presentations in prose, the two-pizza teams, a door-desk prize for embodying values, and more. Keep reading to learn about Amazon’s strange management practices.
Why does Wal-Mart have such a focus on putting the customer first? Where did this idea originate from? Wal-Mart’s founder Sam Walton believed in putting the customer first, no matter what. Walton believed that if you exceed the customer’s expectations, then they will always come back for more. Keep reading about Sam Walton’s “put the customer first” strategy and how it helped Wal-Mart dominate.
How did Sam Walton manage to grow Wal-Mart so quickly? What growth strategy did Walton use? In 1970, Sam Walton decided to take Wal-Mart public, which contributed to the growth of Wal-Mart. However, Sam Walton’s strategy of going into smaller towns with less than 5,000 people, keeping costs and prices low, and setting up distribution centers was the real reason for Wal-Mart’s success. Keep reading to learn more about the growth of Wal-Mart and Sam Walton’s business strategies.
Do you have a product idea in mind? What are some things you should consider before you embark on product development? According to Ryan Holiday, the author of Perennial Seller, creating a product that lasts is about creating an amazing product, not about hyping it up through marketing. To create enduring work, you have to love the process of creating a great product, not just focus on marketing and sales. Here are some tips on how to create a product that will stand the test of time.