Book Review – Multipliers

So I have another book review, and honestly I’ve found myself traveling so there will be probably quite a few of these as I continue to have time to kill on a plane. The latest book I just finished was “Multipliers” by Liz Weisman and Greg McKeown.

Now I’ve read a book by Greg McKeown before, Essentialism, and found it to be really an excellent and thought provoking read. It caused me to re-examine a lot of the ways I’d approached things in my life. So I was very excited to finally get around to reading the book he wrote before with Lizi Weisman.

This book takes the position that their are two types of leaders in this world, Multipliers and Diminishers. The earlier being the type of leader that causes their teams to aspire to great heights, and to rise to meet an impossible challenge. The later being the type of leader who crushes the spirit of the people they lead, causing them to deliver less and less.

I found this book to be rather insightful and interesting, as it made me question the type of leader that I want to be. Now that being said, I do feel like to say that all leaders fall into one of two buckets, is a bit of a falsehood. I believe all leaders have elements of both diminishers and multipliers in their approach as no one is perfect.

But what I found in this book is that the examples are pretty dramatic, and in that regard its easy to say “I’m not that bad”. But I found it eye opening in that it made me re-evaluate how I approach leadership. I think the focus of the book is on a “binary” nature of these two types of leaders, and to be honest I don’t find that I totally agree with that assessment.

After reading this, I’m convinced, that in a way similar to the nature of introverted vs extroverted aren’t binary but a sliding scale, I believe the same can be said for multipliers and diminishers. Most of the leaders I’ve worked with are somewhere on that scale, but no one is perfect by any stretch of the imagination. But I don’t feel that comes across in the author’s description, and that could because of the reliance on dramatic examples.

The other element I found in this book, is that it does focus on what I call “Official leadership”, which is having an official title or position that puts you in a position of leadership. But in my experience, leadership includes people who are not in a position of authority but who act as leaders. In the beginning of the book it seems to exclusively focus on the earlier, and it is easy to say “this doesn’t apply to me” but I find that is not true.

Overall I found this to be pretty insightful book. Below is a talk from Liz Wiseman at a CEO summit about the content of the book.

Book Review – Everyday Millionaire

So for something a little different, I decided to check out a book on finance, because ultimately I do love my job, but I enjoy making money :). So the question obviously becomes how to you generate enough well to some day gain the financial freedom to enjoy it.

My wife and I a while back, took the Financial Peace University course, and found it to be really insightful, and since then by applying the teachings so that course we have been able to leverage the money we make to achieve more of our goals, and honestly its been a very liberating experience overall. Our entire financial outlook completely changed in a single year’s time.

Honestly, if the past few years time have taught me anything, its the change can happen every quickly, and with almost no time (or warning) at all. In the past 6 years, my entire life changed so much that if you honestly tried to tell my past self this was all going to happen, I would have absolutely laughed at you. I went from a married man, living in a small town home, and working as a developer and architect to my current position, father of 2, and currently in a new home.

So I decided to check out Chris Hogan’s book, Everyday Millionaire, and see sort of what I could gleam from his research and insights. For those who don’t recognize the name, Chris Hogan is a financial expert that is part of Dave Ramsay’s “Ramsay Solutions” organization, and has done several books on how to ensure you set yourself up for a successful retirement.

I have to say I enjoyed this book, as part of this book Chris Hogan interviewed and did a study of over 10,000 people who all have a net worth over $1 million dollars. And to be honest his findings pretty much lined up with a lot of the things that are talked about in Dave Ramsay’s books and course.

Now admittedly, that’s not surprising, because he talks about how they found these people was to put out an open call and interview the people who came back, and the people who would be listening to him are people who are already familiar with his work. So his results may be a little skewed, but that doesn’t make his findings any less relevant.

The general message of the book is that it is possible to attain millionaire status without doing so through any one of the many myths out there. The idea that the people who are rich has some “secret sauce” or some “unnatural advantage” is not at all true.

The simple message of this book is that if you work hard, and invest smart and safely you can achieve the financial independence you are looking for, and chasing that “1 big break” is what can ultimately lead to ruin.

Below is a video describing how this is possible.

Now there is one thing I fundamentally disagree with, and its not what he’s saying, but more how he says it. The one statement he repeats often is “If you work hard then …” and makes a reference to how attainable it is.

I don’t disagree with the sentiment, but I do disagree with the phrasing. The past few years have taught me a very valuable lesson, and that lesson is that of making sure you focus on “Impact OVER activity”. I don’t believe that working hard is enough to get anywhere in life, but rather working smarter and harder is the key.

Let me put this to an example…Take the following two scenarios, and I’m borrowing these from Greg McKeown. I’m going to keep the numbers small for my point.

If you have a job as a kid with a paper route, and you work every day of the week, and ultimately make $10 a week, you can make good money. That’s $40 / month, and that can do a lot for a kid who is say 12 years old.

Now, if you could instead take a job washing cars on the weekend, and you can charge $5 per car and do 5 cars in a saturday, and 5 cars in a sunday. That means you can make $50 a week, which is $200 / month.

Now I would argue, you can work hard at the paper route, but at the end of the day the impact it has on your goals is significantly lower. It would make more sense to take the job washing cars, and make more money, and then look for other things you can do during the week. It doesn’t matter how hard you work that doesn’t change the fact that the impact is different. If I work 10x as hard at the paper route, the end result is the same.

But if I increase my efforts on washing cars and can do 7 cars a day (only 2 more) that’s now $35 / day, which is $280 / month.

See my point, at the end of the day I feel like its important to work hard, but you have to take the time to make sure that what you are working on is moving you towards your end goals in life, sitting and grinding away at a job that you don’t enjoy and has no growth potential it may get you millionaire status some day, but the risk would be lower if I focus on careers where the level of effort has an impact on the return on the investment.

Ultimately we all have a finite amount amount of time and we invest it in our careers and skills so we should focus on items that have an acceptable level of risk and a reasonable return on that investment.

Overall I recommend the box, but would advise you to keep this in mind as you read it.