Your Next Five Moves: Master the Art of Business Strategy

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Did you get that last sentence? You must act like a great company (or a great entrepreneur/intrapreneur) long before you ever become one. Are you following? Let me explain. This can be just another book added to your list …or if your willing to dig deep and look at yourself it has the tools to take you where you want to go, whether that’s in business, relationships, or spiritually.

Your Next Five Moves by Patrick Bet-David: Summary and Notes Your Next Five Moves by Patrick Bet-David: Summary and Notes

It’s a lifelong practice. I hope the tools in this chapter will lead to some breakthroughs and get you onto the path to knowing who you truly want to be. I understand that not everyone knows who he or she wants to be. It’s normal not to have all the answers immediately. Remember that this question—and every move in this book—is a process. All the examples I give and stories I tell exist for you. They’re meant to get you to reflect and better understand yourself. If you don’t have a clear answer at this point in time, you’re in the majority. All I ask is that you keep an open mind and keep reading with the goal, in due time, of answering this question. Together, the people in this painting have become a personal assembly of mentors whom I turn to daily. Who do you have in your mentoring vault, whether dead or alive, that offers perspective and counsel? Finally, even when you’re growing steadily, always behave as though a threat could overthrow your business, counsels Bet-David. Stay alert in two ways: Way #1: Don’t Cede Control to Temptation or Your EgoShortform note: Another reason behemoth companies might lose agility is because they’ve fallen out of touch with the customer. Because they’ve been around a long time and have achieved sustained success, they might not be paying enough attention to changing customer needs and trends and can lose out to smaller, more customer-oriented companies.)

Your Next Five Moves: Master the Art of Business Strategy

I could sit here and tell you about the life that you may live one day. Talking about the cars, the jets, and the celebrities you meet all sounds wonderful, but first things first. You are going to have to endure more anguish than you can imagine to get there. Those who can tolerate pain the most—the ones with the most endurance—give themselves the highest chance of winning in business. Learn how to process issues rigorously. Bet-David shares the “Investment-Time-Return formula” you can use to optimize your resources, and how to take full responsibility for your desired outcomes.Shortform note: In The Oz Principle, Roger Connors and Tom Smith agree with Bet-David that employers should hold employees accountable for achieving goals and that employees should hold themselves accountable for achieving those goals. To encourage this kind of accountability, Connors and Smith suggest teaching employees that accountability doesn’t mean blaming themselves for everything that goes wrong. Rather, it means doing whatever is within your power to improve your odds of success.) Part 4: Build and Maintain Momentum The busier you are, the more organized you’ll need to be. There’s this notion that you can’t win at the highest level and also have a great family life. It won’t be easy, but you can find a way to make it work if it matters to you. It’s a choice only you can make. For me, being an example to my kids of fighting to fulfill my vision is more important than being home for dinner every night. My family understands this because we’ve planned for it. Plus, having more money gives you more choices. You may have to work on holidays. Having resources provides you with the flexibility to take your family with you and turn a work trip into a family vacation. As with everything, there are risks and rewards, costs and payoffs. The route you choose will depend on your answer to the question: Who do you want to be? In other words, I realized that for IBM to become a great company it would have to act like a great company long before it ever became one.

Your Next Five Moves Summary - Patrick Bet-David [PDF] Your Next Five Moves Summary - Patrick Bet-David

To grow as a business, you must build and maintain momentum, asserts Bet-David. Here are three methods for doing so without letting the momentum get out of control: I want to get my hands on every single strategy book out there to see the game from a broader point of view so I can learn how to minimize corporate bullying. Shortform note: Bet-David suggests that small companies grow incrementally to take down their large competitors, but he doesn’t specify what sort of growth companies should try to achieve. Small companies might grow competitively by committing to superior customer service. Their small size allows them to have more personal interactions with their customers, which boosts customer satisfaction and competitiveness.) Tactic #2: Tell Your Story Effectively Another thing that the author does is to practice what he preaches about making lists. The book is full of what-to-do lists, presumably built upon the authors experience both in his own business and reading the extraordinary books he professes to read. Interspersed amongst the various lists for various environments a business entrepreneur is likely to find himself are many fascinating stories given as examples of what to do and not do. Take the behemoth down gradually by committing to incremental growth, insists Bet-David. While you quietly strengthen your company, the behemoth will be resting on its laurels, unaware of your progress. This complacency allows you to emerge as a surprise competitor and conquer.We may even start to think, “Hey, what’s the point in saying I’m going to do something big if I’m not going to follow through? Better to just aim low and play it safe.”

Your Next Five Moves (Patrick Bet-David) Book Summary - Your Next Five Moves (Patrick Bet-David)

As the first step in my plan, I got a job at a local gym, hoping to be noticed as soon as possible. At the time, the biggest fitness chain in the area was Bally Total Fitness. With the help of my sister, I got an offer from a Bally in Culver City. It had to have been the smallest and most antiquated Bally location in the state of California. Before you enter a high-stakes meeting, prepare extensively by thinking about the other person’s expectations and needs, what they want to express to you, and how you’ll respond, insists Bet-David. When you’re prepared, you process negotiations more effectively in real time and avoid brash, deal-ending decisions or outbursts. Fast-forward ninety days. We were able to turn things around at the Chatsworth club, taking it from 40 percent of the monthly revenue goal to 115 percent. I was near the top of the leaderboard companywide, well ahead of Edwin. When I got a call from Robby to meet, I assumed that corporate must be pleased. My plans were coming together. I was going to meet the fitness legend Joe Weider, be spotted by a major Hollywood agent, get my acting career off the ground, and meet a Kennedy. I can vividly remember the anticipation I felt that afternoon before my meeting with Robby. Knowing your ideal path. Does entrepreneurship really suit you? Or are you better off striking out as an intrapreneur within your company? Choose a process. One of the best ways to identify a potential business is to find a flawed process that you can improve uponThough this is a risky move that’s not for every company, you can try to take on the behemoth competitor in your industry, writes Bet-David. This is possible because behemoths, once they’ve grown powerful and complacent, lose agility and the willingness to work hard and take risks.