A real challenge of modern life is the paradox of choice. With so many gurus out there, it is easy to get lost.
Unfortunately, I do not necessarily have any shortcuts for you. Perhaps you have been paying attention to me for a while. If you like the way I think, I recommend sticking with me.
The way I resolved the paradox of choice was by reading everything I could get my hands on. Over time, I have been able to identify who keeps it real, and who is full of hot air.
This leads me to my first guru: Peter Drucker
If you make any real effort to study business, you will discover that all roads eventually lead to Mr. Drucker. And, if you are familiar with my blog, you know I talk a ton about Drucker.
Let me give you a little example. James O'Toole is a professor at the University of Denver Daniel's College of Business. And he once said, "It is frustratingly difficult to cite a significant modern management concept that was not first articulated, if not invented, by Drucker."
Not that the order matters, but, my second guru is Warren Buffett
Last week I talked about the original definition of the word entrepreneur. And, according to that definition, Buffett is the greatest entrepreneur of all time.
Think about it. To remind you, JB Say originally said, "The entrepreneur shifts economic resources out of an area of lower and into an area of higher productivity and yield."
On May 1, 1956 Warren started Buffett Associates, a limited partnership of seven people, who collectively invested just over $100,000. Buffett himself only invested $100.
From that rather humble beginning, Buffett would become the richest person in the world. And, he did it all by shifting economic resources out of areas of lower and into areas of higher productivity and yield.
I listen to everything the man has to say.
Last and possibly least: Neil Rackham
As Drucker would say, a business exists for one reason: to create a customer. Thus, the two main functions of business are innovation and marketing.
Business can be boiled down to simple basics. Business is, very simply, an exchange of value. Innovation is the value part. And marketing creates the exchange. Without getting into too deep of a discussion, I am going to say sales instead of marketing.
Back in the 1980's, Rackham permanently changed the sales landscape. He did a ton of research with the intent of finding out what made the best salespeople so good.
Ultimately, what Rackham did was he took sales and turned the focus onto the buyer and the buyer's decision-making journey. This might seem obvious. But, trust me when I say it is not.
Most salespeople (and all entrepreneurs are salespeople) have no idea how to increase their effectiveness. Their actions prove that they really do not know how buyers make decisions.
Rackham is best known for his book SPIN Selling. If you have yet to read it, you really need to. And, if you want to truly understand the genius of Rackham, read his book Rethinking the Sales Force.
