Finally, a business book worth reading
September 18, 2008
By Jake Sudderth
Business books come and go, providing tales of common sense or relying on interviews with successful executives genuflecting to the wisdom of even more powerful executives. They usually are heavy on basic advice (do not steal, make clear plans, stay organized) and light on interesting material.
Jim Hirshfield's first book, Fortune & Freedom: The Entrepreneur's Guide to Success, is a stunner because it wraps a human story (complete with lessons and tales of trials and tribulations) around tips and solid advice. Unlike most business books that preach self discipline, Hirshfield, who built, added to, and managed an extremely successful cable television enterprise, disseminates advice that business schools, parents, and grandparents are ill-equipped to provide.
For example, Hirshfield recommends business leaders work with their "silent partner," the government. He recommends volunteering for a campaign and watching politics up close before or at the outset of your entrepreneurial career. This sage advice is ignored by numerous business attorneys and small business owners who spend their waking hours treating government officials like they are anathema to success.
Rather than only view government as a money taking villain, Hirshfield plants examples of how watching the political process in action helps business owners understand how they can be partners with government officials. And this is no Mafia tale advising people to get closer to their enemies than friends, Hirshfield wishes to uncover what motivates government officials so business people can function well in their orbit.
Fortune and Freedom also describes the critical nature of obtaining and cultivating a skill rather than training for an occupation with no roadmap in sight. Reading the book makes popular plans like holding a good job and paying bills sound underwhelming.
"The desire for instant gratification can be a real barrier to freedom," writes the author on page 18, chapter 2. But his cautionary tale is not as obvious as it sounds. Hirshfield even pulls the curtain from generic middle class advice 101. He eschews simply trumpeting the usual ideal (which he does not criticize): a good college education leads to proper training for a sterling career, which will be realized with hard work and discipline. Instead Hirshfield focuses on opportunities that provide on the job training and definable skills.
After reading how selling vacuum cleaners or cable television packages door-to-door, serving as a volunteer accountant for a non-profit, or managing a shift at a fast food restaurant provide the necessary skills and confidence that an entrepreneur requires, something resonates.
The old tale about the purchasing manager or clerk that works his or her way into management sounds no longer like a fable; because individuals with skills that are important to organizations understand the operations of a firm better than the rest of us. Core skills like money management and selling are marketable anywhere; more so than glamorous occupations that are less transferable.
When a young person graduates from a technical school or college peer pressure and family influence dictate that selling cars on commission or managing a construction crew or a late night grocery shift is unimpressive. Yet after reading Hirshfield one concludes that such work might be better training than working as a marketing assistant at Safeco or Microsoft and learning a fairly narrow skill set. The author makes this observation effectively by telling a tale of two young people he meets in Denver on page 33.
One of the people “had graduated from a top Eastern college and was in her first month of working for the information systems department of a large hospital.” After asking what skills she thought might be useful moving forward and receiving no answer Hirshfield determined she lacked a career plan.
Conversely, "the young fellow next to her had graduated from a Western state university with a degree in information systems and was selling insurance." He was in Denver for a three-day seminar. Hirshfield was impressed. "I told him how impressed I was with his early career path. Not only did he have a background in a functional specialty for the twenty-first century — information systems — but he was now adding the functional skill of direct selling to his repertoire. He was off to a great start at age twenty-five.
As the book continues those of us who have focused on always finding the best job available realize we are more vulnerable to market conditions than individuals like the young man selling insurance. Rather than developing a plan for financial freedom by acquiring additional skills or establishing entrepreneurial roadmaps, most of us manage our personal assets and balances, worry about healthcare coverage, and hope everything works out for the best.
Instead of an entrepreneur's silent partner, government, people lacking plans are left with a very noisy partner, the company they work for, managed by people unlikely to view them as anything more than a critical, non-critical or unnecessary asset.
Fortune and Freedom identifies the necessity of understanding how to raise and manage money, and most importantly how to communicate with people that raise and dispense capital for a living. Leadership within business is addressed in a fascinating chapter with some humorous anecdotes, and Parts III and IV of the book are valuable for experienced entrepreneurs and business leaders because they identify when to and when not to build or buy. The final two sections also cover team building and problem solving within organizations. The author's actions while establishing and maintaining the culture of his organization will surprise you.
After finishing this very direct 145-page manuscript you will likely want to read it again. Hirshfield said he wanted to produce a book that someone could read during a flight and he has accomplished his goal.
Years ago, a successful entrepreneur told me that I should move to Olympia or Washington D.C. immediately to gain an understanding of government. I had mentioned an interest in politics and this advice struck me as borderline humorous. Why would I suddenly move before accomplishing something? It sounded like a recipe for failure to me.
After reading Fortune and Freedom, I am reminded the advice dispensed years ago for free was excellent.
Experienced entrepreneurs are well versed at identifying what skills and opportunities will provide the necessary groundwork for career development and financial freedom. Unfortunately, their advice is usually overwhelmed by nonsensical myths related to the self made man and the perpetual rejoinder that good grades will somehow lead to better opportunities, which will somehow lead to financial success.
Do yourself a favor. Ignore the conventional wisdom and read this book.
Fortune and Freedom is published by Millennium Ventures Press. The book is available at various book stores or you can order it directly at: www.fortuneandfreedom.biz.
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