The 10 Commandments for Business Failure by Don Keough

Summary

  1. Don Keough lays out some basic principles of things to avoid if you want to be successful in life and in business
Key Takeaways
  1. The greatest achievement of good executives is to get things done through other people, not themselves
  2. Businesses are the product and extension of the personal characteristics of its leaders
  3. Change of any kind is difficult – emphasize flexibility and adaptation
  4. The best leaders give all the credit and take all the blame
  5. Management is a craft, not a science
  6. The ultimate resource is people
  7. Enthusiasm = leadership
  8. A brand or brand name is the most powerful force in business
  9. 10 Commandments
    1. Quit Taking Risks – don’t let success lead to complacency
    2. Be inflexible – don’t allow yourself only one way of seeing / doing things
    3. Isolate yourself – it is so easy but don’t fall into this trap, value bad news more than good
    4. Assume infallibility – blame poor results on external forces or other people
    5. Play the game close to the foul line – reputation is priceless; be trusted, not feared, not loved. but trusted
    6. Don’t take time to think – often less is more; must ask the right questions and think about second and third order consequences
    7. Put all your faith in experts and outside consultants
    8. Love your bureaucracy – eliminate as much unnecessary bureaucracy as possible
    9. Send mixed messages
    10. Be afraid of the future – to stop taking risks is a serious risk
    11. Lose your passion for work, for life (bonus) – must strive to make an emotional connection with your “audience” whoever that may be
What I got out of it
  1. Great reminders of what not to do in order to be successful

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