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When Growth Stalls is one of the top three business books that I’ve read in the past five years. I’ve placed it on my bookshelf right next to Good To Great by Jim Collins and Hug Your Customers by Jack Mitchell (the other two). This week’s Leadership Minute is a book review of When Growth Stalls. My advice, Read This Book!
“Flat or backwards. If that’s the case, your company has stalled. And when you are in the middle of it, it is extremely difficult to see. It’s never pretty. Small company or Fortune 500, it doesn’t matter, once the vicious cycle starts, it takes significant change to turn things around.“
These were the opening words Steve McKee, author of When Growth Stalls, offered at the Philadelphia MENG Chapter event, Monday, January 25, 2010. McKee discussed the book, fielded questions, and provided commentary on current business events demonstrating what he calls in the book, the seven factors of stalled growth.
Why you must read book.
- 15% of companies stall every year. That number jumps to 50% every decade.
- It’s research based. Like Collins’ Good To Great, McKee’s seven factors for stalled growth come from analysis of hundreds of stalled companies, including the exclusive Inc 500.
- McKee, the writer. This book flows with the grace of Seth Godin and the advice of Peter Drucker.
What you will learn.
- The Seven Factors Of Stalled Growth – Filled with examples from the research, McKee eloquently lays out three external factors (Economic Factors, Aggressive Competition, Changing Market Dynamics) and four internal factors (Lack of Consensus, Loss of Focus, Loss of Nerve, Marketing Inconsistency).
- The Marketing Equation. McKee offers one, overarching solution of looking at a company’s business proposition and provides a strategy framework to create lasting, sustainable growth.
- Understanding the above, a different lens with which to view your company and its current situation – stalled or not.
Favorite cover blurb.
“Don’t be fooled by the title-this book isn’t just for stalled companies. McKee covers important principles that all companies should be thinking about, especially new or fast-growing companies.”
-Tony Hsieh, CEO, Zappos.com
C’mon- you must have to have something critical to say.
Nope. Though, I will say that I may have utilized the research (including the Inc. 500) based nature of the book on the cover.
That’s it – if you read When Growth Stalls, chime in with your opinions and thoughts.
Disclosure: My relationship with Steve McKee (@WhenGrowthStall) is one of the many new business relationships that I have formed through Twitter. I have interviewed Steve for B2Bbloggers.com Twitter #B2Bbookclub. I purchased my copy of the book and would do it again.
