BUSINESS library - What any self-respecting entrepreneur needs on his bookshelf
The Prince by Niccolo Machiavelli
Why do I need it?
On the surface, a book about politics but applicable to any power structure, including a business. In it, you'll learn how to maintain loyalty in disparate groups, useful whether you're considering company mergers and acquisitions or sengin an army in to a neighbouring country. The Prince gave rise to the author's own eponymous adjective - Machiavellian - meaning cunning, amoral or opportunist. You get the idea.
Who's the guy who wrote it?
Niccolo Machiavelli, born in 1486, was a diplomat in the Republic of Florence, an Italian political state that existed in a hiatus between two eras of rule by the all-powerful Medici family. In his travels, Machiavelli came into contact with many powerful leaders including Cesare Borgia, a prince of the Papal states, whose methods are extolled in The Prince. When the Medicis came back to power in 1513, he lost his cushy government job. To curry favour and win his job back, he wrote this pamphlet about the power of princes and their principalities and dedicated it to the Medicis. They didn't like it.
Key quote
"Among other evils caused by being disarmed, it renders you contemptible. It is not reasonable to suppose that one who is armed will obey willingly one who is unarmed; or that any unarmed man will remain safe among armed servants."
Funky Business, by Kjell Nordstrom and Jonas Ridderstrale
Why do I need it?
This book argues that what makes a successful company is not materials, people or ideas. Any business can buy materials. Any business can get people to do the work. If your business has a good idea, another company will steal it. The key is to find good people who can generate new ideas.
Who are the guys who wrote it?
The blurb on the back says it all: "They do gigs not seminars. These gigs sell out. They have shaved heads and wear black." They are two Swedish academics from the Stockholm School of Economics and they're sort of Men in Black for the business world and play loud dance and classical music and run psychedelic slide shows at their seminars.
Key quote
"Traditional roles, jobs, skills, ways of doing things, insights, strategies, aspirations, fears and expectations no longer count. In this environment we cannot have business as usual. We need business as unusual. We need different business. We need innovative business. We need unpredictable business. We need surprising business. We need funky business."
What they Don't Teach You at Harvard Business School by Mark McCormack
Why do I need it?
McCormack's key theme is that success doesn't stop when you reach the top - you're always learning new things. The book was first published in 1988 so the internet revolution hadn't happened yet so some of it seems dated but the principles remain the same. There's also a successful sequel What They Still Don't Teach You at Harvard Business School.
Who's the guy who wrote it?
Mark McCormack is founder and chairman of the hugely successful International Management Group (IMG) entertainment management company that looks after the interests of the likes of Tiger Woods and Venus and Serena Williams. The implication is that if you want to be as successful as these, you'd better take notice.
Key quote
"Business demands innovation. There is a constant need to feel around the fringes, to test the edges, but business schools, out of necessity, are condemned to teach the past."
The 7 Habits of Highly Effective People, by Stephen R Covey
Why do I need it?
This book's thread is that successful entrepreneurs need to realise that turbulent change is the business norm and that mergers, downsizing, low levels of trust and poor communication exact a heavy price on business performance. It aims to heighten the ability of businesses to cope with change, reduce staff turnover and misunderstandings and improve innovation. Covey highlights this with seven habits to nurture: being proactive, beginning with the end in mind, putting first things first, thinking win/win, understanding, synergising and sharpening the saw (making sure you're balanced physically, mentally, spiritually and socially).
Who's the guy who wrote it?
Another American book but no apologies, aren't they the most successful economy on the planet? Dr Covey has given advice to more than half of America's Fortune 500 companies over the last 25 years. The book has been on the New York Times bestseller list for more than five years.
Key quote
"Don't argue for other people's weaknesses.
Don't argue for your own. When you make a mistake, admit it, correct
it, and learn from it - immediately"
The Nichomachean Ethics by Aristotle
Why do I need it?
This book is really about ethics and moral philosophy and is a great source for anyone concerned about the effects of their business on society. Aristotle propounds the theory of the virtuous circle, in that to develop your character, you need to practise virtues and that trial and error is an important part of the learning process. He introduces the concept of role models and mentors, arguing that it is impossible to learn to be ethical simply by reading about it.
Who's the guy who wrote it?
Fourth century BC philosopher (born in Stagira, Macedonia) and founder of the Lyceum School. He was a student of Plato and, like his tutor, developed views on science, metaphysics, ethics and politics. Aristotle's father was Nichomacus, a physician to the king of Macedonia, hence the title.
Key quote
"Intellectual virtue in the main owes its
birth and growth to teaching...while moral virtue comes about as a
result of habit."