According to the November 2004 issue of Fast Company, "last year, 5,301 books claiming to be about business were published." This is about 14 books per day! This is overwhelming and no doubt that most of us cannot handle such a crowd. Let's assume nevertheless that, despite the sheer size of new publications, you have been able to identify a few books that meet your interests. Now the question is: How should you read them? This is indeed the question asked by Fast Company. They come up with three basic advices that can be found here.
These advices are well-taken. If you allow me, here is how I would rephrase their message of caution
1. Take a big grain of salt
Fast Company says that you should not read a business book literally. Business books are about generalizations. But, to me, this is precisely where the problem is: Corporations beg for uniqueness. They don't want to play karaoke. So here is the oxymoron: If this is true that corporations dream of creating their own monopoly (what Jonas Ridderstråle and Kjell A Nordström nickname moonwalking monopoly in tribute to Michael Jackson), how come you can coin (average) "best practices" and what is the value of the average (generalization) when what is at stake is about higher order moments (say deviation from the mean statistically speaking). No corporation wants to be average. It strives to be unique, deviant.
Moreover, never forget that a book is written by an author who has his or her own agenda: fame, consulting, speaker fees enhancement. So what's the best bet if you're an author (and don't want to one of the 5,301 crowd): Be (for a while) a "moonwalking monopoly ", that is deviating from the mainstream business literature while at the same time supporting your "moonwalking monopoly" concept with an extensive field study. In a nutshell, your best bet is to create "concept volatility." You don't have much to lose and a lot of potential upside if your newly minted concept rings the bell!
So, indeed, do not read literally: Averages are misleading and the business book author does not want to be "average" either.
2. Distill the central idea
Indeed, a book has a standard Gutenberg format which entails production constraints: say, for example, a minimum number of pages to justify the price (maybe the hardcover). Hence, fairly good chances, that the central idea will be repeated several times! But, beware, once you've found it, don't fall in love with it. On the contrary, challenge it right away. Be skeptical.
Why?
a/ In statistical hypothesis testing, we use data to make a decision about whether or not to reject a statistical hypothesis (usually stated as the "null hypothesis") in favor of an alternative hypothesis. Hence, you would discuss about the power of the statistical test (the tested proposition vs. the alternative proposition). How does this apply to a business book and its main recipe. Let's take an example: "Built To Last: Successful Habits of Visionary Companies" by Jim Collins and Jerry Porras (3,5 million worldwide sales). Collins says that the most important idea is in Chapter 4: "Preserve the core! And! Stimulate progress! To be built to last (for how long by the way? How long is long enough to be BTL compliant?), you have to be built for change!" Well, this is such a broad and general statement that even a sophisticated statistical test would have almost no power and would not help you deciding whether the "recipe" is worth it!
b/ Moreover, don't be fooled by randomness. Authors themselves are usually fooled by randomness: How many companies are there around? How many of these companies did they really look at. How can you be sure that the ones that were picked did well because they applied the recipe and not because they were lucky? How many autors are there around starting the "guru" publishing race and how many get it right? Are they skilled or lucky business writers?
Interestingly enough, business authors, when they are challenged because people realize that the select group of companies they cherry picked did not fare that well after all, claim this is because these firms did not continue enforcing the (say BTL) recipe!
3. Create your own toolbox
Read a lot and not only books. Read blogs etc... Moreover, don't forget that there are far more books that any Barnes and Noble can carry. Rationing is at work: You get to see what sells. It does not mean that what does not sell is bad. It is a mere reflection of a winner take all/zero sum game curse. Once something starts to sell, it evicts the rest (fight for bookstore/library display space) and it becomes a self-fulfilling prophecy. In a sense, (physical) capitalism has created its own way of rationing. This is weird when you think that socialism was blamed for rationing too. Hence the success of Amazon: Half of its book sales is outside the typical Barnes and Noble carry. Its customers show that they want more than what is stored on bookshelves!
Never forget the long tail (what is not on bookshelves). This is were gold nuggets are and, as you know, nuggets are never easy to find but worth the effort!
I totally agree with your recommendations on how to take all these business books "with a grain of salt." I recommend certain books to clients and caution them that they are just to get their brain cells working in a creative and receptive mode...and that their situation is unique and does not fit conveniently in the package that the gurus promote. These books are valuable in that they reflect a dialogue with our so-called best minds, but they don't replace common sense or the unique view of those at ground zero at their companies.
I also recommend blogs, local meetings of business groups, etc. as a mode to stimulate critical thinking and a more open orientation to change...ultimately, the "thought leaders" are talking about changing the way we see the world so we can solve our own problems by adapting the latest ideas on business. I recommend looking for local talent that may not be published or as well known but closer to the community they live in thus bringing another unique perspective on what is going on.
Great blog by the way. Thanks.
Posted by: Alain Jourdier | December 15, 2004 at 09:15 PM
b/ Moreover, don't be fooled by randomness. Authors themselves are usually fooled by randomness: How many companies are there around? How many of these companies did they really look at. How can you be sure that the ones that were picked did well because they applied the recipe and not because they were lucky? How many autors are there around starting the "guru" publishing race and how many get it right? Are they skilled or lucky business writers?
Interestingly enough, business authors, when they are challenged because people realize that the select group of companies they cherry picked did not fare that well after all, claim this is because these firms did not continue enforcing the (say BTL) recipe!
If you read what their criteria was for selecting companies, as well as criteria for Good to Great, that will answer your question.
Particularly in Good to Great, Jim and his team use stock prices as a constant to compare companies. Can't really argue with them.
Perhaps posts like this should be taken with a grain of salt.
Posted by: Blair Rorani | September 19, 2005 at 03:21 AM
14 books every day and of course one can't read this much books so stop writing writers and let the readers finish with the 5000 :O
Posted by: John | November 04, 2006 at 10:35 AM
Jenkins Group Launches 1st Annual AXIOM Business Book Awards
“Recognizing and promoting the world’s best business titles.”
Traverse City, MI – August 20, 2007 – Jenkins Group Inc. announces the launch of the first annual, 2008 Axiom Business Book Awards, designed to honor the year's best business books and their authors and publishers. The new book awards program will accept entries until November 30, 2007 for books with 2006 or 2007 copyrights or that were released in 2006 or 2007. The new contest is presented by Jenkins Group, a Michigan-based book publishing and marketing services company that has operated the popular Independent Publisher Book Awards contest since 1996.
The Axiom Business Book Awards are intended to bring increased recognition to exemplary business books and their creators, with the understanding that business people are a very well-read and informed segment of the population, eager to learn about great new books that will inspire and inform them, and help them improve their careers and businesses.
The new awards program will recognize books in a wide range of categories, 26 in all, from Salesmanship to Personal Finance and Entrepreneurship to Philanthropy. The list includes categories of books intended for professionals (International Business/Globalization); for general consumers (Retirement Planning); books about business people (Memoir/Biography); and books meant to motivate and entertain (Business Fable - Fiction).
“We’re impressed by the current explosion of new business titles onto the market from around the world,” says company founder Jerrold Jenkins. “There are many more offerings and more styles of books and topics covered, from international business to personal finance. We feel our new Axiom Awards will bring a very valuable list of winning book titles to readers looking for cutting-edge ideas and advice.”
“With so many large companies currently downsizing, there’s a more entrepreneurial climate in the business world today,” says Jenkins. “All kinds of new enterprises are being created by some very talented people, and they keep up on the latest trends and new ideas through reading. These awards are meant to bring great books and great business people together.”
To learn more about the Axiom Business Book Awards visit www.AxiomAwards.com or contact Jim Barnes, Awards Director: [email protected] ; 1.800.644.0133 x1011. To contact founder Jerrold R. Jenkins, email him at [email protected]
Jenkins Group Inc. has been involved in book packaging, marketing and distribution since 1988. Visit their website at www.BookPublishing.com.
Posted by: Allie Libby | September 05, 2007 at 07:35 PM
Wow! all great points. Winners are winners because they do not do average things? Fooled by randomness? Rationing in capitalism? Taking it with a grain of salt and building your own toolbox? and so much more..
But then, please improve the title which sounds like it's just another how-to guide on reading management books. Thanks!
Posted by: Sangram Takmoge | October 13, 2012 at 10:04 PM