CEOs and business owners are always looking for the best talent to groom for the future. One way to determine who has the talent is by getting a feeling for the person’s level of understanding about how the world works, how business functions and current events. If the CEO walks up to you and asks: “How do you think the recent currency swings in the Yuan will impact our business?” you better have an intelligent answer. The best way to assure you have the required level of understanding is to be well read. Reading can literally make or break your next promotion.
Reading is not enough though, you have to read the right material. Ultimately you will want to seek out and read the same periodicals and books that CEOs and business owners read. As far as newspapers go, the two you want to read every day are the Wall Street Journal and one of your local papers, which will give you an excellent understanding of important local events and an above average understanding of business and economics and their potential global impact on your company.
As far as magazines, some of the most read magazines by executives are: Forbes, Fortune, Fast Company, Business Week, The Harvard Business Review and industry trade publications. Thus, if you were in the wireless industry you might read publications such as RCR News, Mobile Europe and Above Ground Level.
In regards to books, many C-level executives I speak with read a minimum of one non-fiction book per month. These will include best selling business books and books on politics, finance, marketing and strategy. Here is a list of my personal favorites that aspiring executives should plan on reading as time permits:
• “The Art of War” — Sun Tzu
• “The Wealth of Nations” — Adam Smith
• “How to Win Friends and Influence People — Dale Carnegie
• “Reengineering the Corporation” — Hammer & Champy
• “Managing Brand Equity” — David Aakers
• “Positioning: The Battle for Your Mind” — Jack Trout
• “Lean Thinking” — James Womak
• “The Toyota Way” — Jeffrey Liker
• “The Tipping Point” — Malcom Gladwell
• “Only the Paranoid Survive” — Andrew Grove
• “The Customer Driven Company” — Richard Whiteley
In regards to lean manufacturing, while I mentioned “Lean Thinking” and “The Toyota Way” there are several great books on lean. I would encourage anyone involved with manufacturing to read several. One of my all-time favorites is “Managing Brand Equity” by David Aakers. If you read this book carefully so that you understand the key points, you will find yourself entertained with all the branding mistakes you see companies make. There are reasons the great brands survive and it’s not by accident.
You also find that, for senior level positions, one of the interview questions that may be asked of you is: “What have you read lately?” or “What are some of your favorite business books you have read and why?” Being well read assures you will have a great response to these, or any similar questions. I’ve frequently asked these questions when conducting interviews. The responses are telling.
If you are not yet an executive, but want to be one, you need to think like one, which requires a steady diet of reading. Yes, some of you will want to read fiction or sports magazines or maybe not read at all, but if you want to be an executive, take the time to read like one. You will learn more than you ever imagined about business, management and the world and you will ultimately receive some well-deserved respect from those around you and above you.
Andy Singer is the president of Singer Executive Development, a professional training and development company that helps optimize business performance of employees and executives. He can be reached at andy.singer@singerexecutivedevelopment.com.
