The $10 Trillion Prize
Michael J. Silverstein, Abheek Singhi,
Carol Liao and David Michael
(Harvard Business School Press, $30)
While many American workers see China and India as countries that steal American jobs, companies in search of growth look at them as low-hanging fruits. Their billions of consumers have been exposed to American and European brands for decades in the media. Now they have access to them and the money to spend. Companies see billions in profit potential.
Oreos (with green tea-flavored filling in China,) Harley-Davidson, KFC (with shrimp burgers on the menu), Buick, Coach, J.Crew, Pizza Hut, McDonald’s (with not much beef on the menu in India) Whirlpool, Coke and Pepsi represent a fraction of the American brands with an established presence in China and India. Yum Brands (KFC and Pizza Hut) CEO David Novak expects that, “China will become our first billion-dollar profit business within the next couple years.”
The Europeans are there, too — many under their own names such as Mercedes-Benz, Gucci and Rolex, others under licensing agreements.
What’s driving these economies? Growing middle and upper classes. People are moving from the farms into the cities to find opportunity. Entrepreneurs are providing it. The authors see an “accelerator mind-set” in Chinese and Indian businesses. “The successful entrepreneur has little fear of mistakes, believing that any errors can be fixed with time or made palatable by the rising tide of demand.” Optimism, often helped along with greased palms and political favors, overcomes obstacles.
The accelerator mind-set lives in the people, too. Opportunity is their version of the American dream, and they work hard to achieve it.
Doug Lemov, Erica Woolway and Katie Yezzi (Jossey-Bass, $26.95)
If you don’t know how to master practice techniques, you’ll only become good at doing something the wrong way.
The rules for effective practice include:
“Analyze the game.” Look at people who excel in your field. What do they do that you don’t? Talk with them to find out. Do some research, too. What’s on the cutting edge? What’s beyond that edge? Practicing today’s skills won’t prepare you for tomorrow.
“Name it.” Name the skills and techniques you use each day. Which ones are building blocks for performance? With the 80/20 rule in mind, identify the 20 percent of the sources that produce 80 percent of the results. Naming provides focused reminders.
“Integrate the skills.” Practice skills in a gamelike environment and rate the results. Over time, you’ll find how to match the right techniques to the right moments.
“Make each minute matter.” Minimize time-wasters. Put a coach’s whistle in your head and blow it when you feel you’re drifting.
“Practice using feedback (not just getting it).” It’s about becoming coachable. While not all feedback is valuable, you should look for the learning opportunity. Just because you think it won’t work doesn’t mean it won’t.
Jim Pawlak reviews business books for The Dallas Morning News.