Technology consultant Richardson, in her debut, aims to create savvy business leaders by banishing guesswork and blind decision-making.
It takes more than talent, technical prowess and hard work to lead a successful business, writes Richardson. Executives must also have a comprehensive knowledge of the people, products and processes that affect profitability so that they can make better decisions. The author, a technology whiz who has worked as a corporate strategist for Fortune 500 companies, cleverly calls this knowledge “Executive IQ” —common-sensical, data-driven insight into a company’s customers, employees, products and sales. She argues that merely having a vague idea of which customers buy certain products, or how much is spent on marketing, is unacceptable. Shrewd executives, she asserts, probe deeper when making strategic decisions. By using cutting-edge software, they can answer such questions as “How long does it take from the initial inquiry to convert a sale?” or “How many promotions have been awarded internally in the last two to five years?” This may seem like analytical overkill, but Richardson contends that understanding such metrics can keep a business afloat during rocky times. The book urges readers to assess their current Executive IQ by taking a “balanced scorecard” quiz and provides three well-crafted chapters of advice on how to implement a customer relationship management program; executives can use a CRM and Executive IQ together to operate their firms more effectively, the author explains. Overall, this is a book for overachievers, penned in a witty, nimble style. Some assertions here will ruffle feathers; for example, Richardson believes that many executives and entrepreneurs make poor decisions due to ego, fear or ignorance. The author has founded two companies herself, and her words carry the authority of someone who’s fought in the trenches. A new approach will likely generate friction, Richardson notes, but she makes the case that change can pave the way for long-term success.
A starting point for smart leaders who want to build smarter companies.