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The Book-“From Rags to Wishes”
The Naked Truth of How to Turn Failure into Fortune
From Rags to Wishes is my story of early success followed by lots of failures. And more failures. And more. In fact the challenges and setbacks never stopped coming. In each case, I worked through the difficult times and I learned from my mistakes and, eventually, I achieved greater success than anything I thought possible. In recounting my story as I have, in sharing both the good times and the bad, my message is that you too have the strength and ingenuity to turn a mediocre business into great one, the leadership to see beyond the current crisis and the vision prepare for the next quarter or the next year or the next decade. Apply some of the principles I outlined in this book and while you are at it apply your own. Write them down, test them, execute, and in doing so create your own success story. Go on and get started. If I can do it, so can you.
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Lay the groundwork for growth, starting with a few essentials:
- Principle #1: Flagrant Honesty
The word flagrant usually applies to errors, as in “a flagrant mistake,” but it equally applies to any burning and passionate action, like telling the truth. - Principle #2: Believing is Contagious
Belief is the habit of placing trust in yourself and in others. It’s more than attitude; it’s a conviction in the truth. The power of belief can be applied to many aspects of your business—your mission, strategy, products, services, customers, clients, and your ability to market and sell. - Principle #3: Cinnamon Toothpicks
Any good business can be simplified to two things: making a great product and telling people about it. - Principle #4: Don’t Throw Them off the Bus
What do you do when someone in your organization challenges your authority by being insubordinate, by ignoring policy, or by jeopardizing your product quality? My suggestion is to give him options. - Principle #5: Tie Your Shoelaces
As a leader, you must know everything that’s going on within the organization because what you don’t know makes you vulnerable. Make a habit of trusting others to take care of nagging details, to always make decisions in the best interest of the organization, and to care about your business as much as you do, and you are in for a rude awakening. - Principle #6: Keeping Up, Staying Ahead
It’s easy to forget just how fast the world is changing. Trying to keep pace can be daunting. The thing to keep in mind is that just when you think you’re the master of something, you’re probably outdated. - Principle #7: Crayons Won’t Save You
I would suggest that leadership is more than gathering the most current data and parsing out obvious advice based on perfect information. Genuine leadership is about taking responsibility for decisions even when grossly misinformed. - Principle #8: Out of Gas, Out of Sync
How can you impose structure on employees and not stifle creativity and personal drive? One way is to provide an environment where goals are clear and objectives and milestones are well defined. Equally important is understanding the power of limits and restrictions. Far more damaging than too much structure is no structure at all. - Principle #9: Pay Attention to the Tires
Leaders take action without being told, and at some point taking action becomes second nature. Before we become that leader, however, each of us must learn to do what we are told. - Principle #10: Hold ʼEm or Fold ʼEm?
Wisdom is understanding when to stick and when to quit. Are there employees, clients, processes, products and services that, if you quit them today, would help your company in the long term? If so, now is the time to take action.
