Book: Financial Intelligence for Entrepreneurs, Karen Berman and Joe Knight

Review

A great book if you don’t have a background in economics/accounting or if you want to refresh the knowledge.

Buy on Amazon.com.

tl;dr

Separate out whatever is most important so that you can track it easily. Highlight what is changing, which numbers are where they are supposed to be, and which ones are not. Operating profit margin percentage (gross profit minus operating expenses) indicates how well you are running the entire business. Train your team on financial literacy. Open Book Management (OBM) at its best creates an environment where employees feel that they are part of the success – and are at risk for the failure – of the business.

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Book: The Pumpkin Plan, Mike Michalowicz

Review

Really good book and very fun to read. It reminded me again of the importance of systemizing work and focusing on your best customers. Highly recommended.

Buy on Amazon.com.

tl;dr

Find the top clients (/client type), treat them preferentially, fire all other clients (/client types). Ask the top clients about their frustrations and solve them. Don’t work, build systems for people and things to do the work.

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Book: The Year Without Pants, Scott Berkun

Review

Great look at one of the most interesting companies on the web, WordPress. While not everybody is as lucky to be able to focus only on product and leave everything (especially marketing) as a second thought, this book still has some great lessons and ideas, especially on managing employees. Definitely a recommended read.

Buy on Amazon.com.

tl;dr

Hire by trial. All employees participate in support. Scoreboard for the entire company. 5 people in team is best. 1. hire great people, 2. set good priorities, 3. remove distractions, 4. get out of the way. Always ask “how will this impact the user?”.

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