The must-read summary of Bo Burlingham's book: "Small Giants: Companies that Choose to Be Great Instead of Big".This complete summary of the ideas from Bo Burlingham's book "Small Giants" shows how many people believe that success must be measured by growth. However, the vast majority of businesses are privately owned and can stay the same size and still generate excellent profits year after year. In his book, the author identifies seven keys to success for small business giants and how they can be implemented into any business. This summary is the perfect guide for any businessperson that wants their company to work for them and their lifestyle.Added-value of this summary:• Save time• Understand key concepts• Expand your knowledgeTo learn more, read "Small Giants" and discover how you can still be successful and generate profits without becoming a large, publicly owned business.
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Book Presentation:Small Giantsby Bo Burlingham
About the Author
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Summary ofSmall Giants(Bo Burlingham)
Not every company founder wants to grow big, go public and cash out to live happily ever after. A growing number of companies and founders are choosing a different business trajectory altogether. These companies retain a narrow focus and attempt to become great at what they’re doing rather than simply trying to get bigger all the time. They consciously and deliberately choose to stay private and closely held rather than face the scrutiny and demands of operating as a publicly listed company. And as such, these small companies or “small giants” are fast becoming an emerging force in the American business environment. They have their own distinctive soul or “mojo”.
In many ways, the business press is slanted towards public companies, which actually make up only a small percentage of the entire business population. Most if not all of the widely accepted business axioms – like the belief “companies must grow or die” or the concept of “continually striving to get to the next level in sales revenues” – actually apply only to public companies. A private company can stay at the same size and generate healthy profits for its owners ad infinitum without any problems. The owners of a private company can create a great place to work or a business which provides them with a superb lifestyle rather than getting on the never-ending treadmill of needing to grow revenues and profits at all costs.
Overall, the small giants of the corporate world add some much-needed vibrancy and variety. They illustrate what can be achieved when a business avoids the traps of getting too big, spreading out too much or growing too fast. Small giants prove the concept of “success in business” is not quite as one-dimensional as most people believe.
About the Author
BO BURLINGHAM is currently editor at large for Inc. magazine. He worked full-time for Inc. magazine from 1983 until 1990. Mr. Burlingham also writes for Esquire, Harper’s, Mother Jones and The Boston Globe. He is the co-author of The Great Game of Business and A Stake in the Outcome. Mr. Burlingham served on the board of directors of The Body Shop Inc. from 1992 until 1997. He is also a founder, along with Tom Peters, of PAC World.
The Web site for this book is atwww.smallgiantsbook.com.
Important Note About This Ebook
This is a summary and not a critique or a review of the book. It does not offer judgment or opinion on the content of the book. This summary may not be organized chapter-wise but is an overview of the main ideas, viewpoints and arguments from the book as a whole. This means that the organization of this summary is not a representation of the book.
1. Resist the clarion call to grow too big or too fast
Sooner or later, you will have to make a decision how far and how fast you want to grow. All your advisers will be encouraging you to grow as fast and as big as you can. Ignore their advice and make your own decision. It’s perfectly alright to choose a different path.
The press and the media make out like it’s normal for companies to eventually grow so big they have to go public. All your professional advisers – your banker, your lawyer, your accountant, your consultants – will constantly be encouraging you to grow as fast as you can to take your company as far as possible. The reason for that is the bigger your company ends up becoming, the better their advice looks and the greater the chances are you’ll do more business with them in the future.
Despite all this pressure, however, there are alternatives which can and should be considered. There is also a less publicized path which a business owner can take – to stay as a private, closely held company. This has some huge advantages over going down the public company route:You can choose and then build the lifestyle you want without having to justify yourself to any other shareholders.You can make business decisions by whatever rationale you choose, and you don’t have to defend those decisions to anyone except yourself.You can treat your employees well, like they were members of your own family if you so choose.You can decide how big you want to be, and if you choose to stay the same size rather than chase endless growth, that’s fine. It’s your call.You can build something unique which simply cannot be replicated, regardless of how much money is available.You can act impulsively or even decide to take outrageous chances if you want to.You have the freedom to do something you consider to be great rather than constantly running on the more and more sales revenue treadmill.
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