Crazy is a Compliment explains why to achieve your dreams, you need to be entrepreneurial and maybe a little bit crazy.
By combining this mindset with the expertise provided in this book, anyone can start the company of their dreams.
You may be wondering if you should read the book. This book summary will tell you what important lessons you can learn from this book so you can decide if it is worth your time.
At the end of this book summary, I’ll also tell you the best way to get rich by reading and writing.
Without further ado, let’s get started.
Crazy is a Compliment Summary
Lesson 1: Exchange ideas with successful business people who share your ambition and aspirations.
Entrepreneurs, like people, come in all shapes and sizes. There are many different types of entrepreneurs, and each has their own skills and weaknesses.
The four most basic of these are discussed here.
First and foremost are the visionaries, the diamonds that develop the truly monumental ideas that change the world. These diamonds shine brightly, but they also tend to be quite egotistical. These people include Steve Jobs (Apple), Mark Zuckerberg (Facebook), and Sergey Brin (Google).
Second, there are celebrities – charismatic leaders who can win the undying devotion of a broad and diverse fan base. Unfortunately, celebrities often work alone, and a “one-man show” is vulnerable to the whims of the star, even if it has the potential to quickly become a global success. Oprah Winfrey, Martha Stewart, and Jay-Z are all celebrities who fall into this category.
The third group consists of “transformers” who see themselves as catalysts of change, often working in stale industries with the goal of revitalizing their companies. The founder of McDonald’s, Ray Kroc, and the CEO of Starbucks, Howard Schultz, are two such examples.
Finally, there are the “rocket ships” or strategic thinkers who aim to increase efficiency and reduce costs across the board. Although they excel in areas such as math and science, entrepreneurs must also be skilled in other areas, such as customer service and management. Bill Gates of Microsoft and Jeff Bezos of Amazon are two famous people who fit this description.
Now that you know the different categories of entrepreneurs, it’s up to you to figure out which one best describes you. Knowing this will help you understand your entrepreneurial instincts and tendencies, and that will help you be more effective. You can learn from the successes and failures of other famous business people who match your personality type.
For example, if you are a Diamond, you could take a cue from Steve Jobs. His weakness was that he often took his employees’ ideas and passed them off as his own. Now that you know this can happen, you can take steps to avoid such mistakes in the future. By comparing yourself to other diamonds, you can discover skills you were not aware of before.
Lesson 2: You need to constantly try new things and get better if you want to succeed with your business.
You’ve just launched your business and now you’re faced with a problem that you cannot solve. What do we do now?
The author and her team have compiled this list of tips for startups based on their research into the most common problems entrepreneurs face.
First, put some locks on the doors. You can’t live without making decisions, and it’s impossible to keep all the doors open forever. You can finally quit your day job and devote all your time to growing your business.
Then you should lay off your mother-in-law. If you’re just starting out, you may have to rely on family and friends as employees because you can’t afford to pay someone else yet. But you need to put an end to that right away and start looking for the best candidates for the job.
It’s okay to “minnovate,” so to speak. Strive for continuous but incremental improvements, rather than spending months looking for a massive innovation in the way you do business.
Be open-minded, but don’t let innovation overwhelm you. Data shows that compared to startups that don’t pivot at all or pivot more than twice, those that pivot once or twice can raise 2.5 times as much capital.
In addition, it’s important to think big and start slow. Many entrepreneurs get caught up in grand plans for global conquest and forget the basics of starting their business.
It’s important to take things slowly and methodically, even if you’re eager to prove yourself and conquer the world. When faced with an overwhelming task, break it down into smaller, more manageable pieces.
Finally, it’s important to focus on the problem at hand rather than comparing it to others. Often, this is the key to finding solutions to stubborn problems.
One way to do this is to brainstorm to identify and catalogue all the potential problems that could arise during the implementation of the project. Each problem can be crossed off the list once it’s solved.
Take care of the first problem and forget about the others, such as if material costs are high, customer service is overworked, and the office was recently burglarized. If you keep meticulous records of your materials expenditures, you can more easily track down the source of the problem.
Lesson 3: Good mentors are essential for entrepreneurs who want to develop their leadership skills.
When starting a business, founders often mistakenly assume that running the day-to-day operations is a piece of cake.
In fact, this is completely wrong. Many first-time entrepreneurs lack the kind of leadership skills that are essential to keeping a business afloat.
Now the question becomes, “How do I start the journey to becoming a great leader?” Follow these basic rules of business leadership to help your business succeed.
To maintain organizational flexibility, form smaller, task-specific teams whose members meet daily to discuss their progress and try out new ideas.
Maintain open communication with all levels of your organization, from your closest business partners to your first-level employees. The President of the United States, Barack Obama, is also approachable on Reddit and Twitter. You can learn a lot about how to be a better leader by actively inviting and considering the opinions of those around you.
Take note of how other people view you as a leader and adjust your methods accordingly. It’s equally important to be honest about your own shortcomings from time to time so that you don’t lose sight of the danger they pose.
Try to be yourself; it’s okay to show your soft, human side as a leader from time to time. Exposing your weaknesses will make you more approachable and strengthen your relationships with others.
Finding a mentor or experienced leader to guide and advise you can help you become a better leader more quickly. Mentors are especially valuable because they usually never sugarcoat anything. For this reason, you should pay close attention to their concerns, because they may be the same ones that other employees don’t dare voice.
Because mentors are so important, you’ll likely need multiple mentors throughout your career to get the most benefit. It’s time to look for a new mentor when the one you’re working with loses interest or your knowledge and skills surpass theirs.
Lesson 4: Promote risk-taking and innovation by encouraging your employees to think like entrepreneurs.
You now know that strong leadership is essential for your business to thrive.
However, that alone is not enough. If you want your company to succeed, you need to instill in your employees a sense of ownership, an innate desire to take initiative that will keep them at the forefront of innovation and improvement.
So how can you instill such an attitude?
First of all, the problem is not financial. Most workers do not value their salaries as highly as they otherwise would, according to a study cited by author Dan Pink. Workers would rather be rewarded in ways that can not be measured monetarily, such as a job title they are proud of and the confidence that they can make their own decisions at work.
Second, it’s important to be a flexible employer because that gives you an edge in the marketplace. Cleaning products manufacturer Clorox has succeeded in attracting and retaining top female talent by offering flexible work schedules to accommodate personal and family commitments.
Third, turn your company into a “culture club” where every employee fits perfectly with the company’s ethos. This will strengthen the bond between employees.
Therefore, it is necessary to separate from those who do not belong. For example, Zappos strives for the fastest onboarding time. The company offers a new employee $4,000 if they quit after the first week. The reason is that those who feel they do not fit the company culture will most likely take the money and leave.
Finally, try to act like a normal employee yourself. Take a vacation and put photos of your kids on your desk just like everyone else. This will show your employees that you respect their time away from work.
Crazy is a Compliment Book Review
Crazy is a Compliment is a great book I’d like to recommend to anyone who is interested in entrepreneurship. If you spend some time digesting the ideas, it might make a positive impact on your life.
Keep calm and focus on smart risks to move your business forward, and when chaos erupts, seize opportunities as they arise. Try to take stock of your personal strengths and weaknesses, and work on developing your leadership skills to balance the former.
Many companies develop rigid hierarchies as they grow. Occasional hackathons, where cross-functional teams spend a day or two solving a difficult problem or working on a project of their choice, are a great way to stay creative and fresh, as they can produce new solutions in a relatively short period of time. For example, 100 Silicon Valley business people participated in a hackathon to develop new approaches to improving schooling; their ideas were developed during a transatlantic flight.
About the Author
Linda Rottenberg is the cofounder and CEO of the non-profit Endeavor.
She was named one of Time magazine’s “100 Innovators for the Twenty-First Century,” as well as one of US News’ “America’s Top Leaders.”
Buy The Book: Crazy is a Compliment
If you want to buy the book Crazy is a Compliment, you can get it from the following links:
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