CRUNCH POINT by famous author Brian Tracy (a Book Review) about Success in Business
The 21 Secrets to Succeeding when you arrive at a Crunch Point (with your Cereal, no, Business) and it Matters the most.
Topics: Definition, Handling, Responding, 21 Techniques, Example, staying Healthy, Quotes by Author, Brian Tracy.
Crunch Point Definition: a transition milestone in the evolution of a company where 1) what use to work, doesn’t any more, 2) new skills, methods are needed to take the company to a next phase, but are missing. Examples: Launch, Scaling, Fund Raising, new Customers, Markets or Countries.
Don’t be Surprised when you arrive at a Crunch Point and Things go Wrong. According to Author Brian Tracy (see Bio at the end of this Article), crisis is an inevitable part of life. In our lives, we can expect to face some form of crisis – personal, financial or health-related – every two to three months – that will have the potential to harm the well-being of your enterprise.
Is it possible to protect yourself and your Business from the inevitable? In Crunch Point, Tracy says that it is possible, but that the actions you take during these first crucial moments are what determine whether your business will be over-whelmed and/or eventually over-taken by these problems, or whether your business will emerge from each crisis not only intact, but stronger and more resilient than ever.
How to Address – and – Deal with – Crunch Points. Tracy likens survival in both the business world and personal matters to the “Challenge-Response Theory of History” that Arnold Toynbee outlined in his A Study of History. Toy-n-bee maintained that every great civilization, from Rome to the Mongols, began its existence as a small Tribe. What set these particular tribes on the path of greatness was their ability to effectively face challenges and hostility from the outside world & other tribes. Each challenge that the tribe dealt with successfully, made them stronger, bigger (as they attracted more members) & more resilient. A tribe that panicked in the face of crisis and, as a result, was unable to act effectively – did not survive.
Ability to Respond well. According to Tracy, it’s the same today as in those ancient tribes – particularly in business. A high level of good “response-ability” in moments of crisis is what determines its success, health & future growth of your company.
21 Techniques are presented for effectively addressing and dealing with “crunch points.” These strategies incorporate a wide range of potentially valuable courses of action, such as:
- staying calm when faced with an unexpected problem;
- asserting firm control and
- assuming the responsibility for the situation that should come with authority;
- cutting your losses quickly and definitively
- focusing on key result areas; &
- tapping into your creativity to find effective solutions – to generate cash flow for your enterprise.
A No-Nonsense approach in each of his techniques, does not allow room for the fear & anxiety that often prevent business leaders from dealing effectively with crisis situations.
Example: “Cut Your Losses,” Tracy advocates engaging in “zero-based thinking.” He advises his readers to look at their businesses objectively and to ask themselves the following question:
“Is there anything that I am doing [now] that, knowing what I now know, I wouldn’t get into again if I were starting it up today?”
If the answer to that question is yes, then Tracy advises his readers to discontinue whatever it is, and fast – whether it is a product line or service that is not performing well, an employee who is not doing an effective job for the company or a Customer who is more of a drain on the business’ resources and energy than they’re worth. Throughout the book, Tracy presents a clear case for meeting such problems head-on and for taking the necessary actions that will ensure the continued success & health of your enterprise.
Keeping yourself Healthy to keep your Business Healthy. In addition to detailing effective business practices to implement in times of crisis, Tracy stresses the importance of maintaining your own health & emotional well-being. A business is only as healthy and able to deal with crisis, as its leader is able to. He discusses techniques for maintaining well-being during Crunch Points, such as: 1) making sure to get enough sleep & exercise; 2) eating a high-protein, healthy diet; & 3) taking time to recharge.
Re-Charging, he says, means taking a weekend off from business matters & the crisis you are facing and doing something totally different. By doing so, you will return to your office and the issues with a fresh perspective and a greater capability for finding the necessary solutions to your problems.
Why we Like this Book. In Crunch Point, Tracy offers down-to-earth methods for dealing with crises that readers can implement in both their business practices & their personal lives. At the end of each chapter, Tracy distills his advice into two direct and sensible “Crunch Point Actions” that detail specific “actions” readers should use when dealing with a similar crisis. Then you can become a Captain of Crunch.
Author Brian Tracy (born 5 January 1944) is a Canadian-born American Motivational Speaker and self-development Author. He is the author of over 70 books that have been translated into dozens of languages. His popular books are: “Earn What You’re Really Worth, Eat That Frog, Achieve your Goals & The Psychology of Achievement”. As a highly successful Author, his books are in libraries worldwide.
Comments: What have been your results in putting some of these 21 Techniques into effect? Have you become a Captain of Crunch?
from Audible.com 3/17 enhanced by Peter/CXO Wiz4biz
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Quotes by Brian Tracy
“A clear vision, backed by definite plans, gives you a tremendous feeling of confidence and personal power.”-
“Move out of your comfort zone. You can only grow if you are willing to feel awkward & uncomfortable when you try something new.”
“All successful people are big dreamers. They imagine what their future could be, ideal in every respect, and then they work every day toward their distant vision, that goal or purpose.”
“The ability to discipline yourself to delay gratification in the short term in order to enjoy greater rewards in the long term, is the indispensable prerequisite for success.”
“Teamwork is so important that it is virtually impossible for you to reach the heights of your capabilities or make the money that you want without becoming very good at it.”
“It doesn’t matter where you are coming from. All that matters is where you are going.”
“Those people who develop the ability to continuously acquire new and better forms of knowledge that they can apply to their work and to their lives will be the movers & shakers in our society for the indefinite future.”