We are rolling into the final days that mark the end of the first quarter for 2016. This makes it a good time for some reflection. For the Aussie’s, you’ve got one more quarter to bring it home and for the others … well I don’t know when your year end is but regardless, reflection pays.
It is also time to start planning the next quarter. If you need some tools or a refresher on creating your 90-day plan, check it out here
In this issue, we’ve chosen a topic that brings a variety of perspectives and opinions. I’m a huge fan of Open Book Management (OBM) as I believe it aligns a team and creates an environment of trust. That said, it is not perfect.
You’ll find this publication very pro OBM. We did search to include some articles and points of view that are against OBM … but could not find anything substantial. Interesting…
Some news from our HQ, you may have seen some new branding under the banner of SalesUp! We rolled out a soft launch of our new brand that we feel better reflects our niche and the value we bring.
Over the next few months we’ll be announcing some new products and offerings for those who want to grow and scale their businesses. These will range from free to premium level solutions so stay tuned!
The Reality of Open Book Management – An Interview From the Trenches
Norm Jefferies owns and manages Computer Merchants and has done so for over 20 yrs. Through his tenure they have adopted and continue to fine-tune the Open Book Management approach.
In this interview, Norm shares his learnings, strategies, tools and tips on how they use OBM. Check it out here
So if it cost a lot for a bad hire, how do you make a good one? Let’s ask Steve Jobs …
There are lots of methodologies out there (including my own … stay tuned for an upcoming long blog post) but a guy who did it pretty well was Steve Jobs. Here’s an article that talks about how he attracted his ‘A’ players – How Steve Jobs Attracted the A Player and Kept Them
The Great Game of Business
There are two books which I believe give the best outline and strategy on adopting OBM. The Great Game of Business by Jack Stack is one.
Jack Stack and his team have taken the concept of OBM beyond a strategy and turned it into a movement. They have annual conferences anyone can attend and are continually evolving the principles. Check it out here.
The history: In 1983 Jack and his team scraped together $100,000 and borrowed $9 Million to buy SRC holdings. The share price was about $0.10 per share. Over the next 30 yrs those shares became worth about $200 per share. The secret sauce … OBM.
His book goes into A LOT of detail and it can almost be overwhelming as you get through it. It also can be inspirational and exciting to see where you can take it by adapting those principles to your own business.
Ownership Thinking by Brad Hams
I was fortunate to see Brad present in Toronto, Canada some time ago. Since that presentation, I’ve advocated Brad’s methods to many clients.
Brad’s book is my starting point for anyone wanting to transition to OBM. His concepts are simple and powerful.
One final note: as the title suggests, a big part of Brad’s philosophy is to move employees away from an entitlement mentality. If you see this in your organization, Ownership Thinking will be a must read.
Ownership Thinking website can be found here
Opening the Book on Open Book Management
This short article will give you a taste of the major points and concerns around OBM. It does a great job without having to dive into a complete book.
It also gives some other book references (of which I have not read) so perhaps they are more resources to help you on your journey.
Mind you, if you plan on taking the OBM route, I would highly advocate reading the other two recommendations above.
Check out the article here.
Thought of the Month: