One of the most memorable books I read was a “business novella.” (am I the only one surprised at that genre?)
It’s the journey a plant manager takes to turnaround his failing plant (and his marriage) or risk losing both.
(side bar – if you like a glimpse of 80s style attitudes toward smoking at work, women secretaries, and using pay phones to check in, you will love this step back in time).
I read it freshman year at college, and got the nudge to read it again last year.
And it’s refined my work (and boosted client results) ever since.
The Book: The Goal, by Eliyahu M. Goldratt
There are only 2 key takeaways:
1 – The goal of the business is to make money. NOTHING ELSE.
2 – A business can only make money as fast as its weakest link.
Why is this book the best? It helps you figure out - and fix - the weakest link.
While the book is set in a widget-making factory, the concepts apply to coaching and consulting businesses.
Here’s my take:
Each activity or step (to making money and building your business) is a link in the chain. More importantly, each activity or step builds on the strength of the link before it.
The first link must be rock-solid before the second link will be effective (even if the second link – on its own – appears to be solid).
That’s why – despite your best efforts – some business-building strategies just can’t work for you.
Sometimes the weak link is mindset, sometimes it’s the offer. Other times your marketing or sales need tweaking (or overhauling). And the bigger the team, the more links you have.
Fix the weakest link, profits begin to increase (the faster the fix, the faster they increase).
Be careful though… Fixing the wrong link can be an expensive distraction.