Business-failure

As a long time sales trainer, I've had opportunity to teach over 300 salespeople. As a part of that training I regularly use this book. Every person I've ever recommended this book to has stated that it is without a doubt the finest sales book they've ever read.

Bettger's writing style makes the book an easy read, and the information contained in the book is practical and easy to apply. For anyone in the sales profession, or those considering a future career, this book should be a part of your library

Rather than simply giving you information, Bettger tells you his story and how he learned what he learned. He tells you what he did and how it worked. This book comes from an era before slick and hype. Bettger is straightforward, honest, and sincerely trying to help the reader, and if you're a salesman, I think this book should be part of your core library. Bettger doesn't worry about superficial techniques for closing the sale. As any really successful salesman knows, you have to be honest and sincere to be great at selling, and that's where this book comes from. You'll get deep principles rather than manipulative tricks. The principles in Bettger's book work, not just in selling, but in life. I regularly read pages daily to inspire and refresh. Bettger's book should be in every salesman's library.

Other Recommendations: "How to Win Friends and Influence People" by Dale Carnegie, "Power of Positive Thinking" by Norman Vincent Peale, "Lateral Thinking" by Edward DeBono and "Breakthrough Advertising" by Eugene Schwartz.

Frank's book is a timeless classic. I heard a lot of good things about this book in a mastermind group meeting in NYC with Mike Litman.

The book lived up to it recommendations.

There are many ideas in this book that anyone in any field can relate to. Even if you are not a salesman, there are many ideas in this book that are about "how to achieve success."

If you are interested in achieving success I highly recommend you reading this book and applying the principles within. Wishing you best of luck and much success,
Your devoted life coach,

Zev Saftlas, Author of Motivation That Works: How to Get Motivated and Stay Motivated

Failure among the ambitious, upwardly mobile, educated and intelligent of our modern, industrialized society often comes across as being more devastating, more defining, and more frightening than it actually is. What in actuality defines us is not the number of our failures, but how we deal with our failure, how we look upon it, and most importantly, how we either use our failure or allow our failures to define us.

Hyatt and Gottlieb have written an excellent text on professional/career failure. The authors start the book by imparting intrepid examples both personal and private, of the emotional processes associated with failure. They accurately describe (often in painful and excruciating detail) the feelings of fear, isolation, shame and remorse associated with losing a job, status, money or some combination of the three. One can not only relate to the loss of purpose, the punctured egos, and the declining sense of self of those who have failed professionally, but also can actually feel as if it is happening to him or her- for it at some point has happened to him or her. They emphatically stress that career failure is something that eventually touches every professional, in some cases sooner, and in others, later. In this way, they show that failure has no prejudices, and everyone is a card-carrying member of this club, whether they realize it or not. As such, in dealing with failure, it is extremely important for the individual to realize that he or she is not alone in the experience, even if our greater society compels us to put up a strong front and pretend that nothing is really wrong. In order to healthily deal with failure, the authors emphasize the importance of understanding the meaning of failure in both the personal and the societal context, and elaborate upon how the feelings associated with failure unfold in the individual. Many people define themselves based on their occupation, their professional affiliation, or their status in life, and it comes as no surprise that these are the people hardest hit by career failure. Those of us who have cultivated other sides of our personality, such as those of us who live for our weekend hobbies, or those of us that are family or community oriented, tend to handle career failure much better, and can even take it in stride. Although many readers and those who have experienced failure or are currently experiencing failure may not believe it, failure actually gives people options, which the authors not only demonstrate, but also help the reader identify and ultimately take advantage of in later chapters.

In the first part of the book, one chapter each is devoted to defining the characteristics of failure at the level of the individual and the society, dealing with the feelings, which occur in stages, associated with failure, how our career failures can affect those closest to us, and how men and women respond to career failure. The second part of the book focuses on taking failure in stride, and offers a comprehensive strategy for personal reinvention after suffering a career failure. Arguably the most important part of the book, this section devotes one comprehensive chapter to each of the following topics: discovering why one has failed, gleaning from the failure some positive knowledge by re-interpreting the events leading up to the failure, recognizing and casting off old and inappropriate labels and finding new ones, expanding one's career choices, and making the transition from the old professional to the new, centered and focused individual. The authors also include in this section of the book a bonus chapter that showcases two successfully reinvented individuals, and elaborates upon the nature of their failure, how they dealt with failure, and the process of their reinvention. Each chapter in the second part of the book provides the reader with powerful tactics to build a new, improved person from career failure, and allows one to rise triumphantly out of the ashes of failure, much like the proverbial phoenix. The third and final part of the book, entitled 'Towards Real Success', helps the reader to win the internal battle associated with failure. While the second part of the book helps to outwardly reinvent the individual for career success, the final section of the book helps the individual to cultivate a new perspective, a new outlook- on career failure. This part of the book encourages the reader to look upon failure as a learning experience, and as such, helps one to regard failure as a temporary setback that one can learn from.

The authors have written a truly empowering book, one that entrepreneurs and professionals must read and keep alongside all the other books on career and entrepreneurial success, as there inevitably will be one or more notable, spectacular and in some cases unfortunately public failures on the path to a successful career journey. In the end, I can only say that there is no shame in taking a risk, giving one's all, and failing, and I wholeheartedly believe that true shame results from failing to try, failing to risk, fearing change, and failing to grow. These, I truly believe, are the things that comprise the regrets in one's life.

I picked up this book after being let go from a F50 company late last year, and it has been a lifesaver as I've navigated unfamiliar territory. It lays out the stages most people experience when they've been fired, downsized, or eliminated -- shock, fear, anger & blame, shame, and despair. It addresses how failure changes the balance of power in a relationship, and how it affects men and women differently. It then moves to how we reinvent ourselves -- identifying the cause of failure, reinterpreting the event, relabeling yourself, and getting unstuck. There are numerous stories, including the authors' own, about failing and ultimately coming back better and stronger. One quote especially resonated with me: David Brown (he produced The Sting and Jaws, among other Hollywood blockbusters) was fired three times from top jobs. "Each time, [he] was stunned. And each time he never stopped to analyze what had caused him to be fired in the first place. Only after the third time did he begin to examine his working behavior. Why was he always running after corporate jobs...when in the end they held neither safety nor a degree of control over one's fate?" Whether you feel that corporate life is truly your calling, or you yearn for something different, this book can help you push past self-imposed limitations and re-invent your career in a unique and satisfying way.

If you are having problems confronting a business defeat (whether you were fired, lost your business, or "failed" in your career), this is the book for you.

If your setback is affecting your health, your marriage, your friendships, there is hope.

If you have been moping around the house for a year or more, read this book.

If you've tried and tried to "move past" your personal problems, buy this book now.

If you have been searching for an answer, this is it.

Read this book.

This book provides the reader with an excellent introduction into the various strategies and techniques that "special situation" investors apply when seeking to profit from distrssed companies.

The author engages the reader in a story book fashion with actual bankruptcy stories, the cast of characters, investment philosophies/strategies and lessons to be learned.

The author also sprinkles in bankruptcy laws and procedures for those who are not as conversant in the field.

Overall, I highly recommend this book to anyone who is interested in profiting from distressed companies.

The book covers the practice of investing in the securities of distressed/bankrupt companies. Topics include: investing in distressed debt; the reorganization process under Chapter 11; the contests for control between conflicting classes/interests in the reorganization process.

But, the book doesn't cover these topics in mere textbook fashion. Rather, it introduces us to some of the most famous vulture investors of all time and provides exciting narratives of their significant investment successes and failures. The cast of characters is fascinating. One ends up with a very good feel for the type of personality needed to work in this field: financial/legal wizard who combines the ferocity and tenacity of a wolverine with the haggling skills of a hat merchant from the garment district.

One of the most famous of the vulture investors is Marty Whitman, whose book "Value Investing: A Balanced Approach" forms an invaluable companion text to this book. "Value Investing" provides the theoretical underpinnings; "Vulture Investors" shows the theories in action.

I found this book to be exactly what I hoped for. I like to read business stories. The author's goal was to teach the reader about investing in bankrupt companies and the method used was with detailed narratives of past deals. This was perfect for what I wanted.

The book went into great detail about the hierarchy of security claims and how they work in bankruptcy. The examples showed how the investor classes work with and against each other in bankruptcy and the roles the b/k judge and attorneys played. With many different narratives the reader is able to see different outcomes and the extreme risks and rewards involved in this type investing.

The book's main focus was on the personalities involved in buying distressed debt and then trying to influence the b/k process mainly through the courts but sometimes in prepackaged b/ks.

In summary, I learned a lot and enjoyed the stories also. The only caveat I would have is that the book was originally written in the early 90s so there are not new examples although the author did give summary updates on the companies and investors up through 1998.

This volume may be the best one I have ever read on the subject of risk in the project arena. Kendrick has captured the best of current practical thinking on project risk and how to identify and manage it. And the author has carefully linked theory and practice to the Project Management Institute's "Project Mangement Body of Knowledge." In addition this book is exceedingly well written and very readable (a rarity in this genre).
Kendrick approaches risk identification from the perspective of the project manager in the areas of scope (project deliverables and product), resources (people, materials, and money), and schedule (time). He addresses each area in a separate chapter with practical advice on how to identify and document potential risks. An aspect of these three chapters I particularly appreciate is the depth of information that allows the reader to address each area of risk at different levels. Kendrick does this by providing an array of analytical tools. For example in Chapter 4, "Identifying Project Schedule Risks," the reader could use the list of common schedule risks and probably account for 80% of the schedule risks for their project, or move to a deeper analysis of risks associated with delays, dependencies, and errors in estimation. In the area of estimation the reader is presented with an array of estimating techniques that can be used as appropriate to detect potential risks in estimation.
Chapter seven on "Quantifying and Analyzing Activity Risk" appears just in time. After reading the first six chapters the reader may throw up their hands and declare "I can't manage all of this!" As an experienced project manager, Kendrick gives us tools to help select the risks to manage. All potential risks on a project are not manageable or worth the time and effort to manage. This chapter gives sage advice on how to select the vital few.
A key element in Kendrick's approach is distinguishing what he calls "activity risk" from "project risk." It is easy for the project manager to focus on risks associated with various activities and forget the larger picture. In fact there may be times when the risks associated with each activity seem minor but when the project is viewed as a whole the project is very risky. Kendrick provides tools for quantifying and analyzing risk at the project level as well as a chapter on managing project level risk.
I end this review with three overall comments. First, pages 17-24 should be required reading for all senior managers and anyone who sponsors a project and there should be a test at the end. The biggest risk for too many projects is unknowing, unthinking, or uncaring managers who are driven by near term profits and stock prices. Second, readers should not be put off by Kendrick's inclusion of statistical and mathematical information. Such information comprises less than 5% of this book and it would be a shame to miss the other 95% due to a fear and loathing of numbers. Finally, if you can't find any other reason to read this gem, read it for the intriguing history of the building of the Panama Canal. If Kendrick ever decides to stop managing projects, he has a bright future as a writer of interesting history.

This book is very useful - - the combination of practical examples and user-friendly tools make application of the concepts possible. I like the High-Level Risk Assessment tool and appreciate the real-life examples that help illustrate the key points. Mr. Kendrick's book is a must read for anyone serious about project managment.

Reviewed by Al DeLucia
Director
Project Management Division
GSA, Philadelphia

Anyone who - like me -- has struggled to relate the abstract discussion of Risk Management in the PMBOK to actual project management practice will welcome this down-to-earth presentation. This book shows how to incorporate risk management into the planning of your project along the way - the entire way -- of the project development sequence.

Mr. Kendrick had many years of practical project management experience with Hewlett- Packard and headed their in-house project management training and consulting program. Over a period of 10 years, he trained hundreds of project managers at HP, in other organizations world-wide, and at the University of California at Berkeley and systematically collected information about the most significant risks they had encountered in their projects. The result is a database called PERIL (Project Experience Risk Information Library), that contains 222 projects sorted into risk categories based on type and impact. In this book, these results are integrated with the PMBOK processes of project development in a way that shows what project management is really all about.

Anecdotes from the construction of the Panama Canal are interestingly presented at the ends of the chapters. These describe how the concepts of each chapter were applied - or not - first by the French in their failed attempt to build the canal, and then by the Americans in their successful endeavor under the sponsorship of Teddy Roosevelt.

This book contains sound advice for all managers, not just managers of distressed businesses. Knowing and understanding the danger signs of distress can help a manager stay out of trouble. Although this book was written over 20 years ago, the material is totally relevant today, especially in light of the recent IPO meltdown. It would be great reading for a CEO who must now live entirely within his own means.

I just reordered two more copies of Corporate Turnaround by Donald Bibeault.

I am an investment banker who, on occasion, has a client that gets into financial trouble. I find the book very helpful in both organizing a turnaround plan for the client as well as in coaching the client in taking corrective action.

When I first read Dr. Bibeault's book, I immediately recognized that this author knew exactly what happens to a troubled company and has mastered the tools of recovery from practical experience and not from some academic research. Bibeault's turnaround steps are simple and realistic and therefore can be applied in a variety of circumstances.

Each time that I encounter a turnaround situation, I offer my client a copy of Corporate Turnaround with relevant passages highlighted. As a first step, I always turn to Chapter 19 - "The Emergency Stage", and put emphasis on the section that covers Cash Flow Analysis and Control. Building a chart similar to the one showing a cash flow plan is an especially useful way to get started in the right direction.

I am delighted to see that this book is back in print because it's the best in its field. And in my case, its teachings have helped to save a number of companies from almost certain bankruptcy.

Jim Herrmann

For those who need an introduction to corporate turnarounds, look here! Tells you what they are about, and what are the keys to a good turnaround. However for those looking to turn around a failing company, you would still best be served looking for a professional consultant granted every case is unique.

Lessons From Leadership Failures: The Greenfields Approach by management consultant and business start-up expert Denis Orme is an amazing, superbly presented, informative and practical book offering case histories, anecdotal evidence, and cogent advice for making the most of one's business regardless of the produce or service being offered to the marketplace. From the crucial importance of watching one's budget to encouraging teamwork and most importantly, learning from the mistakes of others rather than making the same mistakes all over again, Lessons From Leadership Failures is an encouraging book and excellent guide for the novice entrepreneur or corporate executive wanting to lead their enterprise to an enduring commercial success.

Lessons From Leadership Failures-The Greenfields Approach is a strategy based on a productive agricultural setting. Imagine for a brief moment that you are a farmer, and when you look outside all you see for many miles are Green Fields. Imagine further that the land is fertile, and that there is an abundance of water. There are no rocks to clear, no trees to fell, just rich fertile land ready for planting of any crop you choose! By applying the Greenfields Approach to business, Denis Orme believes you can envision your potential business and personal opportunities in the same way, without constraint. By doing this, many new opportunities will arise and existing ones will appear different.

The Greenfields Approach is unique and based on a straightforward principle. Too much of the planning and thinking we do is incremental and becomes self-limiting. Too much energy is spent in piece meal planning, benchmarking and strategies. This leads to false assumptions and self-imposed constraints. Denis Orme defines the Greensfields Approach by asking two questions. "If you were starting the business or business unit tomorrow, would you do business the same way?" Secondly, "If you were embarking on a career as a recent graduate, would you launch or grow your career the same way?" He then replies, "If you would not do things the same way, then why are you doing it that way now?"

Lessons From Leadership Failures-The Greenfields Approach has seven chapters and 63 modules. It is a virtual handbook outlining actual leadership failures, the lessons to be learned from these failures and how the reader can do it differently. As Denis Orme candidly writes in the introduction, "This book is about leadership mistakes in each key area of business and the lessons learned from mistakes made by other senior executives and myself." For example, Chapter 5 is entitled Flavor of the Month. In this chapter, Orme cautions against consultants or technologies that attract the latest fad or buzzword to solve problems rather than cost-effective solutions.

Lessons From Leadership Failures-The Greenfields Approach is truly different in approach and purpose. It is not simply another text on leadership, but a serious analysis of past business failures, lessons to be learned and how to do it differently.

The book is very relevant, practical and one you should reflect on when faced with real business or career issues.

Hank has compiled a life time of insight and wisdom into one book. The book uses a bulleted format to provide answers and insights into many of todays burning business issues. Some ideas you will be familiar with. Others you will quote often in your own communications. Hank has a provided a valuable resource for any business executive.

Jack Welsh, while at GE, once said, "If the change on the outside is greater than change on the inside, the end is near." Hank Moore has written the Manager's lifeline in dealing with omnipresent, dynamic change. His book covers everything from strategy to the need for employee training. In each chapter, Mr. Moore gives the reader compelling reasons to take certain actions or attitudes in order to succeed in the difficult business world of today. And in most chapters, he offers simple-to-understand lists or snippets that make it easy to apply his concepts. His material on slogans, oxymorons, acronymns, and the proper usage of English and wording is extraordinary -- and much needed in business. His ideas on customers and advertising are tremendous. Mr. Moore is quite a visionary himself, a very successful consultant with five U.S. Presidents, and his extraordinary talents have led to an effective set of concepts captured in this book regarding vision, change, and success. He makes a strong case for taking action in those areas. Visionary thinkers are hard to find. Read the book, and become one! Every manager MUST read the book, own the book, and PRACTICE THE BOOK!!

Science has learned, recently, that we cannot understand the nature of the entire being by breaking it down into sub atomic particles and removing it from the natural environment.

Thanks to Hank Moore, we now have a credible Big Picture Thinker who has the life saving prescription for business of all sizes in these most dynamic of times. Take a step back, look up and all around and with the conviction of Corporate Responsibility, take an ethical look at the entire Business Tree from the roots to the leaves. Then, define the ethical vision required for the long term growth and prosperity of the business. Only this process will gain and maintain the trust and confidence of the stakeholders.

This seemed to be more of a self help book than anything. Some of the individuals described in the book hadn't overcome any exceptional adversity. I would go so far as to say some of the people were included in the book to merely to magnifiy their hardships in order to justify their affluence. However there were a handful of intriguing stories. The whole book is brimming with great insprirational quotes. Worth reading but don't expect it to top any best seller lists.

Great inspirational stories!
A great book! Perfect for gift giving. It was fascinating to read about the personal challenges and failures that even the most successful people experience. I really enjoyed the quotes that appear on each page. They are perfect for adding to your desktop to inspire you throughout the day. Treat yourself and others to this book. You won't be disappointed. :)

Great Failures Of The Extremely Successful by Steve Young (a man who failed college four times; discharged from the army after three months; divorced; fired from 23 jobs in the summer of 1968; failed businessman; losing contestant on both "The Dating Game" and "The Gong Show"; dropped from four literary agencies; and the recipient of a "gazillion" book, television and film rejections) is a collection of unique anecdotes about the stumbling blocks many famous and wealthy people encountered on the way to success, ranging from basketball star Bill Walton, to humorist Steve Allen, to advocate Erin Brockovich. Offering valuable life lessons, and most of all, emphasizing the importance of getting back on the metaphorical horse after being thrown, Great Failures Of The Extremely Successful is an enjoyable, enlightening, motivating, and highly recommended addition to any self-help, self-improvement reading list or library reference collection.

I have spent a year reading a host of turnaround books and this is the One. Fantastic Book. Easy to Read. Humorous with very clear direction after each chapter of real world implementation plans.

The book gives the precise focus and direction needed in the first 30 days of a turnaround or need to change any current business. Key chapters which focus on the basics of any good turnaround are:

Chapter 6 - Specialize or Die & Slash Costs ( Reduce Burn)
Chapter 11 - Crawl into your Customer's skin ( Customer focus)
Chapter 25 - Tighten the ship ( Profit enhancements)

Great stories and advice on Board management as well as the search for a New CEO.

Great for turnarounds, Start-ups and any exisiting business trying to improve profits.The benchmark for Turnaround Books.

This is a great book on business turnarounds. It is eminently practical, humorous in spots and filled with interesting stories that highlight the advice being given.

The author offers 69 small chapters of advice. There's everything from what to do first on a turnaround... to how to get the best price selling your company. Nearly every page is heavily underlined in my book.

The topics that I particularly found valuable were: "Find the margin, cut all other costs"; "Specialize, do it where the margin lives, stop everything else"; "franchising is more about real estate than the business";his chapter on "make what sells" and the importance of low cost and his abundant advice on how to cut costs; his recommendations on increasing price on certain product types; setting your debt levels at the "10 year flood plain" for your company; demoting IT because it operates with its own agenda; stopping the CFO from gambling; cutting down on consultants and moving them over to more of a performance basis... well the topics go on, but you get the idea.

There's lots of advice. It's blunt and somewhat in your face. The text is easy to read and interesting too. There are lots of small stories that illustrate the points.

Overall I recommend this book most highly, not only for business turnarounds, but for any CEO or CEO wanna-bee. It would make a great book to take on business travel and read on the airplane. It's easy to read with the small chapters, and many topics. This is easily a 5 star book.

John Dunbar

The first place you should turn when your business or personal finances are in trouble is this book. Next, follow the advice and stop the hemorrhaging. Gary Sutton is a hard nosed genius you will emulate if you want to save what's impotant to you.

Well, the answer depends on who you are and what you're bringing to the reading of this book.

Having gone to Oberlin College in the late 80's (the heyday of "political correctness" and ground zero for that movement, in fact) I am well-acquainted with "liberal" views on life, society and personal responsibility. Lots of noble notions, not much pragmatism or self-evaluation. If you're a die-hard student of the P.C. movement, this book will offend you, even freak you out. Kryptonite! Why? Because it reminds you that YOU are primarily (nay, entirely) responsible for your sense of happiness and direction in life. Which you'd think would be self-evident enough, but somehow isn't to people who are used to blaming others for their woes instead of examining their own premises first. Check your premises!

Political Correctness plays strip poker with this book and loses, ends up buck naked, an emperor with no clothes. BSAF is a superb antidote to P.C. because in a matter of a few short chapters, it very effectively strips away common illusions about what makes us miserable in life and who's responsible for this phenomenon, based on its roots (no finger-pointing allowed anymore). It's a challenging read! But if you're ready to move beyond demanding that others help you realize your best self, and ready to start demanding that growth of YOURSELF, you'll find this book is pure gold, a very effective tool for shifting your consciousness towards enhanced self-reliance.

I don't say that lightly, because I've read dozens of "self-help" books, been in therapy, even been prescribed anti-depressants. I wish I'd found this book first! It's a page-turner, a quick read, but very potent. It really truly did change my life. I read it again six months later and it had improved with age. If you suffer from bona fide clinical depression (for example) or some other truly severe challenge, keep your therapist around. If however you are among what the profession calls "the worried well," then wrap up your sessions, get off the Zoloft (or Prozac or whatever) and READ THIS BOOK. With a cheap paperback version in print, you have nothing to lose.

FYI...
1) The current edition graciously omits the somewhat noxious and outdated chapter on homosexuality that existed in the original version. Otherwise, though, the book has aged remarkably well. In fact, you could almost believe it was written in the mid-Nineties in response to P.C. rather than in the Sixties as it was. It still packs a wise, timeless punch.
2) The book is based heavily on Adlerian psychology, which is very much about the individual and self-reliance.
3) It's not a detailed "how-to" book (which is why I'm giving it 4 stars rather than 5)-- it's big on ideas, but a little short on practical solutions for self-improvement, and might leave you wondering "Now what?" In that case, you may find that books like "Feeling Good" by Burns or "Awaken The Giant Within" by Robbins (no, really) offer you more pragmatic advice.

Kryptonite or gold? It's up to you now.

A friend gave me this in the 80's and every so often I pull it out and re-read it. It focuses on the fundamentals of human behavior and emotion with a clarity that I have not seen elsewhere. For those who are willing, it enables you to look straight at your problems and shows you how all problems arise from a set of misconceptions. It is easy to start changing your thinking because the errors are so basic. The content of this book is profound.

I have not found a better book for getting focused and back on track when in emotional pain.

I have read and re-read this book since 1971. It was given to me by a friend in paperback form. The price of that paperback is laughable when compared to the content of the book. I would consider this book must reading for all adults seeking to become mature individuals. The book gives much food for thought on getting past the many little hurts in life, and helps one understand our own behavior patterns. I would say that this book requires the reader to have a fairly high awareness level. I was just happy to see that the book could be re-ordered since I've worn the cover off of the paperback.