Execution - The discipline of getting things done - Larry Bossidy and Ram Charan

Had been reading things off my iPad recently, and I must say that it has been a great experience. Reading off the iPhone was slowly (but surely) killing my eyes.

I came across this book when reading the list of books that Jamie Dimon recommended for his interns. This was an extremely "nourishing" book for me. It came at a time when I was feeling a little sapped and less than inspired in finding ways to push through tasks that seemingly had no end to them. After reading it, now I feel like I can tackle anything :)

The book made a very important point - that often neglected is the importance and difficulty of execution. I read somewhere that often it is not the strategy that dooms a company, but its poor execution. Something I read from another place was that companies that fail were often "out-executed" by another one which might not have as brilliant a presentation piece on its strategy. It is true that we often glorify the process of coming up with slides and conceptualisation and look at implementation as if it is the simpler and more straightforward task. This book states otherwise and I fully agree.

Here are some of the key learning points:

1. Leaders have three key roles: (i) setting the strategic direction, (ii) picking other leaders and (iii) conducting operations. What I've seen in my workplace so far are people who are very good in (i), but not many in (ii) or (iiii). We are often promoted solely based on (i). Have decided to work harder on (ii) and (iii) from now on. In particular, think that I can do more in grooming people on the team.
2. Being actively involved in execution. The leader should not shun 'operations' work, but should immerse himself in them as it is inextricably linked to strategy. Jack Welch and Jamie Dimon appear to embrace this. Dimon encourages leaders to lunch with their frontline staff - the leaders will learn much more than reading reports.
3. Probing is key. To get to the heart of execution, leaders need to probe deeply and relentlessly. E.g. One should not be satisfied just looking at strategic plans that say "we need to roll out XX by YY". A leader should ask the hard questions - how are we going to do it, why is it going to work, what are we going to do if it doesn't, who is responsible for each step, etc. Many strategic plans are shallow because they simply state the whats without saying the hows, and people should not be allowed to get away with it.
   
4. In addition, a leader needs to be able to make fine judgments abt people so that they can be placed at steps of the execution plan where their contributions will be optimal. Coaching the next level of leaders is also exceptionally different. I'm starting to do it - for the last year, I think I as coached more than I coached :)
   
5. In both execution and people issues, the leader needs to foster open and candid dialogue. People need to be able to speak up and feel ok to disagree. Otherwise, the level of incisiveness and thought that goes into execution will not be sufficient. This includes being able to open up about weaknesses or intractable issues in an organisation. Informality is critical to such candor, and it is important to create this. We need to be able to say "let's listen to everybody and then
   
6. Doing all of the above certainly requires alot of discipline and courage. Many times I had put off intractable issues only to discover that dealing with them right at the beginning would hv been better. The book calls the secret ingredient "emotional fortitude", and it comes from self-mastery and self-awareness.
   
7. "We don't think ourselves into a new way of acting. We act ourselves into a new way of thinking". How awesome!
8. Differentiation is the key to building a performance culture. For this I still have some learning to do. I find many people excellent in what they do, and have difficulty using a ruthless ranking process.
   
9. Make use of platforms such as meetings, mgmt meetings to set the organisational tone, performance, professionalism and work ethic. The platforms are the hardware, but you need to imbue it with the software as a leader.
   
10. Learn how to get things done through others. Still learning about this - am tempted to do everything myself sometimes.
11. Follow-through is the cornerstone of execution. At the end of strategic reviews, write to everyone on what the follow-up should be.
    
12. Larry says that in interviews, he focuses on a candidate's energy, implementation and achievements, and he often calls the candidate directly rather than rely on HR.

There are many more gems within - would strongly suggest people read through this good book.

Investing in Real Estate - Gary W. Eldred

One other thing that I wanted to start learning about this year is real estate. Not sure what my objective right now is yet - for investing or simply for finding a place to stay. And not sure when I'd go in too - whether now or a couple of years later. Nonetheless, as the saying that luck favours the prepared mind, why not start now.

This is a rather straightforward book about the basics. The key idea behind investing in real estate, I feel, is that it allows you to leverage your initial capital many times over.

Not much that I can write here on the specific learning pts as there is a significant amount of calculations that are stated in the book that are not easy to reproduce. However, the key learning pt from these calculations is that there are many variables at play - interest rates, amount of loan, amount of capital, length of loan, etc that influences the eventual cash flow.

I think the next step is really to try to dive into the property market in Singapore and get a sense of the prices, what areas are good, whether the market still has room to grow and when is the right time to go in.

Confessions of a public speaker - Scott Berkun

Decided to take another step in improving my communications, or rather, public speaking, skills. Think it is a very useful skill to develop. This book is one of the first steps. It was one of the highest rated books on websites that I visited, and it seemed like a good bet!

Overall, it was a pretty entertaining book. Berkun writes in a very "approachable" manner and it certainly didn't read like a textbook. Many of these points that he highlighted are simple and commonsense, but I think that they are helpful for a noobie like me all the same. So here they are:

1. Everyone freaks out. I always get the butterflies before any situation where I'm required to speak. Even in meetings (those with senior ppl who I imagine are judging me all the time). It's good to know that many people get the same feeling too.
2. Practice is key. I don't think I've ever practiced much. Not for presentations. And not for just the sake of practicing. I think I look unhinged if I start speaking at home to myself. But I think I should start somewhere, and I need to find a place to practice everyday.
3. Preparation is key. Study your material inside out.
   
4. Working the room. Simple but important - there is a need to first get everyone to come to the front of the space that you are speaking in to focus and concentrate the energy.
5. Storyline. The storyline should be captivating and convincing. This is not so easy to do so in the typical presentations that are done in my workplace. People seem to expect slides that simply capture information in a snapshot but very detailed manner. Will keep the need for a storyline in mind.
   
6. Making presentations interactive. I'm seeing Tony Robbins do this really well. I think I have lots to learn in this area - most of my presentations are one-way. I'm simply downloading loads and loads of data onto people, even for those where I'm not doing to my supervisors and people are there to learn about something that I'm (supposed) to be good in. Will keep in mind to ask people more questions.
7. Know what's coming up on the next slide. Again, simple but really important. It allows you to connect your storyline.
8. Tension and release. This is not so easy. But silences play quite a useful role. Berkun suggests using questions or problems that you ask people to solve.
9. Always end early. That's a pretty good idea!
   

So here's the first step in my resolution to become an excellent public speaker. Now to find a place to practice!