Weekly Bookmarks –
130th Edition – August 1, 2021
Companies, communities, and countries all need a code that reflects their values if those entities, and those values, are to survive and thrive.Frank Figliuzzi – The FBI Way
1. Why Do You Want to Be a CFO?
Is it because you seek the rewards or the responsivities behind the title?
One of the most fascinating finance directors I’ve ever worked with is Jeff Aubuchon of Aubuchon Hardware. A family member once told him, “Don’t seek a title, seek the work behind the title.”
That’s the message in Patrick Lencioni’s, short and thought-provoking book, The Motive. The best-selling author says CEOs are either rewards-centric or centered on selfless responsibility. His message applies to all of us seeking to grow in our chose profession.
2. The Legacy of Milton Hershey
More than 10,000 mourners passed the casket of Milton Hershey when he died at the age of 88 in 1945.
Some twenty years earlier, Hershey stated, “I decided to make the orphan boys of the United States my heirs.” He then went on to turn his company stock in his chocolate business worth $60 million into a trust to benefit the orphan boys of the Hershey Industrial School.
Businesses come and go, but trusts can live forever. Even when Kraft acquired the Cadbury chocolate business, the Bournville Village Trust lives on.
While it’s a tedious and long read, you’ll like Chocolate Wars if you enjoy business history.
3. Tripling Revenue in Two Years
Seem impossible? There’s a website that captivated my attention so much, I just had to reach out to the founder of 2y3x. But that was before his book came out entitled Scale at Speed. Once it was released in June, I contacted the author again for an interview which was published yesterday.
If you like anything by Verne Harish, then you’ll like Felix Velarde’s book.
4. Revisiting Edwin Locke’s Goal Setting Theory
During my interview with Felix Velarde, I praised him for referencing Edwin Locke’s goal-setting theories.
While all of us understand the concept of SMART goals, there are two other elements that stand out from Locke’s research (Latham was a co-contributor in this research):
- the goal has to be difficult, but not impossible to achieve
- proximal vs. distal goals – proximal goals are achieved in a short period of time whereas distal goals take longer
Regarding distal goals, consider breaking them down into smaller chunks to achieve success or completion.
Here is a link for the original research paper if you are interested in reading more.
5. Keeper of the Code
The FBI’s official motto is, “Fidelity, Bravery, Integrity,” built on a code of conduct that reflects the core values of their organization. Frank Figliuzzi shares the FBI’s core values in the first chapter of The FBI Way:
- Rigorous obedience to the Constitution of the United States
- Respect for the dignity of all those we protect
- Uncompromising personal integrity and institutional integrity
- Accountability by accepting responsibility for our actions and decisions and the consequences of our actions and decisions
- Leadership, both personal and professional
I just started this book yesterday, and I had no idea what to expect. Already, I’m calling this a book for leaders. So far, my favorite line –
A team, a business, and especially a government can quickly disintegrate when its leader values only the win, not how the win is earned or whether people or values are trampled along the way.Frank Figliuzzi – The FBI Way
Deep from the Archives – When I think about the Olympics, I think about The Boys In The Boat, the true story that reads like fiction. Last year, I caught up with a top rowing coach in the United States to talk about the sport and a sports legend who may be a forgotten name.
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Always be learning and growing.