Find a Writer that Speaks Your Language
Many of the best books that I have worked on over the years have had a ghost writer. There is absolutely nothing wrong with bringing on a professional writer to help you to repair or write your book from scratch. I have always believed that if you’re not a “natural” scribe, then bringing someone on board to help transform your idea into a reality makes perfect sense.
I am also of the school of thought that it is best to hire a writer at the beginning of the process—not in the middle or the end. I learned this lesson the hard way. Once a project goes off the wheels, it is a difficult task to get it back on track. Starting out with the correct writer gives you the best chance of success—and will help you to complete the job much faster than if you have to find a “book doctor” months down the road (I have worked on scores of books at all points of completion and have produced the best books when facing blank pages at the project’s birth).
Once you establish the point that you need a ghost writer, it is best to find someone who speaks in your tongue. An example: when I worked at Portfolio (Penguin), I signed an author who told me he decided to publish with us because I spoke the language of finance/investing. That worked out very well, as it allowed us to collaborate much more closely than would have been possible with the publisher he eschewed in favor of us. That book ultimately garnered incredible reviews and sold close to 100,000 copies.
History and experience are the keys to finding the right author. I have been investing in the stock market since I was 13, and held the title of Publisher of Investing and Finance unit when at McGraw-Hill. It was at McGraw that I worked with investment titans Jack Bogle, Jeremy Siegel and Charlie Ellis.
So if you are writing a management book, make sure that the writer speaks management, a finance book needs someone who knows investing, and so on. You may have to pay more for the right author, but this is not the place to be stingy. Good business authors are in very short supply; that is why they are expensive, and exceptional authors even more so. But remember, this is a book that has your good name on it—one that you will have to live with for many years to come.
When No Track Record is Better than Some Track Record
I talk to dozens of authors who have written one book without the benefit of an agent who realize the error of their ways, and search out an agent for book number two. That makes perfect sense. They tried doing everything themselves first time around, so they look for professional help for their next outing. However, in the majority of these cases, Book 1 did not sell well, and might have even been an outright bomb. That usually makes the next conversation with that author a difficult one.
But isn’t the mere experience of writing a book and getting it published something that editors like?
The answer is an unequivocal no—if that first book bombed.
In this difficult sales environment—or any sales environment—you are only as good as your last book. That’s why it is better to have zero track record, a clean slate, than to have a poor track record. And it does not matter why the first book failed. Publishers and booksellers don’t care why a book failed, just that it did. That’s why it is so important to make sure that you put your best foot forward in Book 1, and not “experiment” with a marginal idea. Here is where a good literary agent can really help. An experienced business book editor has a pretty good idea of what kind of business book has a reasonable chance of success. So the moral of the story: get a literary agent as early in your book writing career as possible. If a book writing career is important to you, securing an agent may save you years of heartache down the line.
Thanksgiving and Publishing
It used to be that nothing ever happened in the publishing business Thanksgiving week. For all the years I can remember this was a “dead” week. It was so quiet that we were lucky if half the editors showed up at their desks.
Well, times have changed.
Thanks to a continuing lackluster economy, editors and other publishing professionals simply cannot afford to take the week off. Most publishers are having a really tough year, and they need to show the brass that they understand the severity of the situation, and are doing everything in their power to make 2010 a much better year. But that is no simple task either, because the vast majority of books publishers acquire now will not make it in 2010—instead they will spill over into 2011. Also, there are fewer people left to do all the work at most publishing houses.
That is why editors are at their desks this week in record numbers. I know because I am doing a lot of business this week with a number of editors and publishers. And something tells me that next year will be no different. Now we have to wait and see if people show up between Christmas and New Year’s. That has always been the ”deadest” week of the year in all of publishing.
Here is wishing you and your families a very happy and healthy Thanksgiving. I know I have a great deal to be thankful for this year—and will be sure to take nothing for granted.
The 4E’s of Leadership: Still the Best Management Model
Long before The Unforced Error, there was one of the best management models I have ever learned. In fact, it was the subject of an entire book entitled JACK WELCH AND THE 4E’S OF LEADERSHIP and it turned out to be one of those quiet classics that still sells today—five years after its original publication.
That’s because this management model is timeless and works in any kind of organization, of any size. It’s also a simple model that anyone could grasp quickly (although the detail in my book helps to make this model operational in no time). First let’s define the 4E’s:
Energy: People with energy go 75-miles-per-hour in a 55-mile-per-hour world. People rich in this “E” jump out of bed in the morning ready to take on all challengers. They need no caffeine to operate at peak performance.
Energize: Energizers articulate a vision and then get others to turn that vision into a reality. They spark others to perform. They take the blame when things go wrong but give others the credit when things go well.
Edge: People with Edge know how to make tough decisions. They know when to say yes and when to say no. They avoid the maybes. These solid decision-makers are more valuable than ever due to the turbulent times in which we do business.
Execute: At first there were only the three “Es” above. But GE discovered that some managers who were rich in the E’s above still did not make their financial targets. That’s when the fourth “E” was added. Managers who possess this “E” get things done. They make all of their commitments and make their numbers.
Those are the E’s. If you are an employee or a manager, you should work toward improving your “E” quotient. If you are a hiring manager, look for people who have these traits. If you want to learn how to put them to work in your organization—and you will forgive the self-promotion—get your hands on the only book that explains how to implement this model step-by-step—Jack Welch and the 4E’s of Leadership.
Identify those Who Control Your Destiny
Who really controls your future? If you work in a large organization, can you really be sure that it is your boss? Maybe it isn’t. Maybe it’s your boss’s boss, or your boss’s boss’s boss? I have worked in large companies and learned only after several years that it was my boss’s boss that called all the shots. My boss would take every key decision to his boss, and she would make the final call. But because all of this was happening behind-the-scenes, I was in the dark for a very long time about what was really happening.
And sometimes the answer to “who controls my future?” cannot be found by searching straight up the corporate hierarchy. Perhaps your boss seeks out the opinions of your peers to learn about you and and “dirt” related to your performance. This is definitely unprofessional at best, and a bit sick at worst. As I describe in The Unforced Error, the most effective managers search out and build on his people’s strengths. The manager that does the opposite, by trying to sniff out anything negative about you, is insecure and immature and does not deserve the position that he has been entrusted with. If you learn that your boss is engaging in that type of activity, discreetly update your resume and try to find another job (perhape when the job market is stronger). Otherwise, you may get sucked up into a dysfunctional situation that leaves you hating your job.
Make Sure to See the Whole Court
Continuing with the tennis analogy employed in THE UNFORCED ERROR, as in tennis, people in business need to be sure they have a clear view of the court at all times.
When I say the whole court, I mean the entire playing field that serves as the backdrop to our jobs and careers. When I go out and speak to groups, I warn them about getting tunnel vision or “cubicle vision.” I tell them that it is not enough just to see what is going on in their own departments. They need to see what is going on with their unit, different parts of the company, competitors, the operating environment, etc. Only then can you get a clear picture of how well you and your company are doing, and more important, only then can you take meaningful steps to make things better. In these very tough times, with a national unemployment rate hovering at about ten percent, few of us can ill-afford to be caught off guard by a situation that we simply did not know about because we were too lazy to do our due diligence.
For example, say you work in the marketing department of a food and beverage company. You get good performance reviews, and morale in your department is fine. However, what you are not aware of is that parts of the sales department is in ruins. The company laid off 20 percent of the department because sales for the Eastern region fell off a cliff. As a result, the company is going to have to make job cuts across the board, which includes your department. Had you known, you might have stepped up your game knowing what was at stake; and you could have been better prepared to search for a new job knowing that yours was on the line. In this extreme scenario, you would have to be a real ostrich to get caught this much off guard. But this stuff happens every day in organizations.
Most other situations are a bit more subtle. For example, you may be a salesperson in that same company and not know that your biggest customer is in real trouble, endangering the business that you do with them. Their sales make up more than 15 percent of your [individual] total sales budget, so not knowing that they may shut down their doors could also cost you your job. That example isn’t all that subtle either, but you get the idea.
When things are as tough as they are now, with unemployment rates so high, you must constantly work without blinders. The risk for failing to do so is simply too high.
Protect Your Flanks
“Protect Your Flanks” is a chapter in my newly published THE UNFORCED ERROR. I gave it quite a lot of thought before I decided whether or not to feature it in the book, but in the end, felt it was too critical a topic to omit.
That’s because all organizations have some sort of office politics, no matter how much you (and I) might hate the thought. According to author and career expert Dr. Kathleen Reardon, people with “political savvy, agility in the use of power, and the ability to influence others will go further.”
That’s why it is so important to protect your flanks.
You need to use all of your contacts within the organization to be sure no one is bad mouthing you to your boss. I have seen this scenario play out countless times and it is never pretty. In fact, it’s downright unethical and even immoral. What right does one person have to play with your career and your livelihood? Yet it happens every day in almost all organizations of every size. You have to have enough contacts and be plugged in to the company grapevine or you risk having the rug pulled out from under you before you know that you’re standing on one. How do you do this?
Seek out people in the organization. If you do not make friends, at least make acquaintances. And don’t limit it to people in your own department or work area. It could be people in other departments that have the ear of your boss. Perhaps you made an enemy without even knowing it, or perhaps people are just jealous of your success. Regardless of the specific circumstances, you have to establish a friendly, informal network within the organization so that you are not the last to know that you are in the doghouse—and possibly on your way to the poorhouse if you get canned.
One other piece of advice is more straight forward. Talk to your boss on a regular basis. Ask her if there are things you can be doing to help her make her goals—and the goals of the division. And do not wait for a performance review to find out what things you can do to raise the level of your game. These informal conversations will provide ample opportunity for your boss to let you know if there is a problem or any other issue that may have a profound affect on your future.
Who You Fire Shapes the Team (Part of Series on Firing)
In recent postings I have discussed specifics of hiring and firing and making sure that you seek out strong subordinates. (If you missed any of those just scroll down).
While not firing under-performers soon enough is the most common unforced error relating to dismissing people there is another one: firing the wrong people. This happens all of the time, particularly in tough times with a near-ten percent unemployment rate. When budgets are tight, companies try to save money by trimming payrolls. When this happens, it is easy for the manager to surrender to the numbers and cut the most highly compensated employees. This can be a huge unforced error.
Circuit City provides a perfect example: In March of 2007, its CEO, Phil Schoonover fired 3,400 of its most seasoned and productive salespeople. The company was losing money and the CEO felt the best idea was to get his highest-paid salespeople off the payroll. That decision proved to be an unforced error of the worst kind. That’s because these were the company’s most talented and knowledgeable salespeople. Eighteen months later CEO Schoonover was out of a job and three months later Circuit City was in bankruptcy.
Building a first rate team is not just about choosing the right people to hire. It is also about choosing the right people to fire. And getting rid of the wrong people can be just as harmful as hiring the wrong ones. So when the time comes when someone has to go, do your due diligence and be sure to choose very carefully.
Seek Strong Subordinates
Many managers are afraid to hire people better than themselves. That’s a huge unforced error. As Jack Welch once said, “the smartest people in the world hire the smartest people in the world.”
If you hire weak perfomers, “Bs” and “Cs” rather than “A’s,” you are doing yourself and your organization a serious disservice. This is something that great business thinkers have understood for quite some time.
One of the most surprising things I learned about Peter Drucker was how he felt about Franklin Delano Roosevelt. While most historians and citizens from the era regarded FDR as a great leader, Drucker felt that our 32nd president was so insecure that he sought to “undercut” anyone he viewed as a threat. That convinced Drucker that FDR was a poor administrator and a weak leader in important areas.
Jim Collins, author of Good to Great, felt the same way about hiring. He said that management’s first priority is not coming up with the right strategy, but making sure that you have the right people “on the bus.” All else follows getting the right team on board first.
If you fear so much for your job that you would consider hiring a sub-par performer, then you have already lost. The most effective leaders know this in their bones, which is why they try to fill every position with strength. Focusing on strengths rather than weaknesses is a key theme in The Unforced Error. It is the responsibility of every manager to bring strength to his or her organization whether we are talking about products, ideas, or people—especially people.
101 Compelling Books to Ponder
Today I came across an interesting list that I think is worthy of at least a quick look. It can be found on an unusual site:
One of the most interesting things about the list of 101 books is that it includes both great classics as well as other lesser known books. On the classics side, they include—Adam Smith’s Wealth of Nations, Amy Shlaes’ The Forgotten Man: A New History of the Great Depression, and Peters and Waterman’s In Search of Excellence.
Lesser know titles include: Suzy Welch’s 10/10/10, Seth Godin’s Tribes and W.J. King’s The Unwritten Laws of Business.
Lastly, they divide the list for reader’s ease of use, under these nine sub-categories (which all have links to Amazon): The Top Twenty, Management Skills, Effective Communication, Smart Investing, Professional Writing, Personal Finance, Negotiation, Innovation and Entrepreneurship.
- What Business Book Publishers Look For in an Author
- What Business Book Publishing and the Stock Market Have in Common
- Literary Agents Level the Playing Field
- Ghostwriter Needed?
- BESTSELLER: How Many Copies Do You Have to Sell to Become a Bestseller?
- Literary Business Off to a Great Start
- A New Business Model and a New Bestseller?
- Business Book Editors at the Top of their Game
- My Publishing Outlook for 2010
- The Killer Book Proposal
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About Jeffrey
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As former Vice President and Publisher of McGraw-Hill's trade business books division, Jeffrey Krames has personally edited and published more than 275 business books, including many award-winning, best-selling titles on business luminaries that include Jack Welch, Michael Ovitz, Ross Perot, William Paley, Michael Dell, Bill Gates, Herb Kelleher and Lou Gerstner among others. Read more...
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