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| WHAT BOOKS HAVE YOU READ LATELY THAT HAVE HELPED? |
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The Headache: Sometimes fresh ideas don't come out of your own brain when you need them. And sometimes reading about the victories--and even the mistakes--of others is less painful than learning in the first person. And today's challenges often call for skills new to many bankers. Our Question: What books have you read lately that helped you and your bank? Have you shared them with colleagues? What did you learn? Come see what other bankers are reading, and add your own finds * * * What business books have you been reading lately? As an industry, bankers rank highly among professionals who look to the printed word for guidance. Many banks formally sponsor reading groups among their management ranks. Conference sessions featuring name authors on common business challenges frequently draw maximum crowds. What have you been reading, on your own or with fellow bankers, that has helped you do a better job? Overcome an obstacle? Meet a challenge? Come up with fresh ideas? Polish your current approach? Chicago banker Dale Cleven has started the ball rolling below. Add your own recent picks. They needn't be new books, simply something you've read that has helped. And if you would like to join our regular list of "prescribers," to whom we send questions, please email This e-mail address is being protected from spam bots, you need JavaScript enabled to view it today. And don't forget to check out our banker-written book review column, featuring a wide selection of helpful books. Let's hear your book picks below! (Editorial Note: Contributions to Pass the Aspirin may also appear in our print edition. While we will ask for your e-mail address, this is only as an aid to verifying identity and will not be used for any marketing or promotional purpose. The e-mail address will not be published.) Set as favorite Bookmark
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Dale Cleven, chairman, president, and CEO, Community Savings Bank, Chicago, Ill.
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I read the book Steve Jobs by Walter Isaacson, which I thought was instructive. Though the industry Jobs was in is so different from ours, without the regulation, etc., I found it encouraging. Though it sounds trite, he really showed that thinking and acting "outside the box" can have real value. He showed that you can't get bogged down by convention, the so-called "best practices" that get piled on many industries, especially ours. He also showed that you have to be persistent in following what you think will be the best course of action for your company. Jobs also did a great job of protecting his unique products and intellectual property from being used by others. I think we as bankers can learn a great deal from his approach to business. Oh yes. It also doesn't hurt to have a few billion dollars of net worth. |
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E. T. OLeary
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| I read the book too and enjoyed it but Jobs also emerged in the telling as a bully and abusive and disrespectful of his employees and colleagues. Anyone who exhibits incredibly boorish behavior and then says, "That's just the way I am" is seriously disordered. His financial success amounts to little compared to his many behavioral failings in interpersonal relationships. | |
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Jim Marous
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Three books of distinction are very different in their content, but all very insightful for bankers as they try to move into a period of tremendous disruption, risk and opportunity. 'Bank 2.0' by Brett King (founder of Movenbank) is a must read for any banker wanting a very detailed and somewhat controversial look into the future of banking. In the book, King describes an environment in the not so distant future that will leverage the consumer's move to digital technology and the impact on branding, distribution, payments and communication. Even if you don't agree with all of his assumptions or predictions, the book opens your eyes to a banking environment that is very different than today. The second book is no less visionary even though it doesn't focus on the financial vertical. 'The End of Business as Usual' by Brian Solis looks at the impact social media and real time communication will have on every business. Exemplified by the events that surrounded the BofA and more recent Verizon implementation of (and reversal of) a fee that was caused in no small part by the outrage on social channels, this book is an important read for all bankers. In a world where good and bad experiences are shared in real time, it is important for bankers to understand the impact social media will have on marketing, delivery of services, product development and even operations. Finally, for a bit lighter (yet no less important read), I would suggest 'Snarketing 2.0', written by Ron Shevlin from Aite. While written in a very sarcastic tone at times, Ron provides a wealth of marketing insights that every bank marketer should follow. Many are common sense suggestions that we often ignore, while other insights could be considered a bit unorthodox, but no less insightful. These were my favorites for 2011. I am looking forward to new books that will broaden my perspective of what banking and business will become in the future. |
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Emily Dong
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I'm currently reading Blue Ocean Strategy. While it's not about banking, it does definitely give me a better idea of how businesses are run. The book discusses the competition between businesses, and how businesses often make the mistake of competing using the exact tactics as their opponents, which often results in bloody competition or "red waters." The book provides the strategy of differentiating the business against the competition by changing the business' overall perspective. The challenge is really finding out what the target audience needs, overcoming the traditional methods of marketing, and creating "blue oceans," which basically speaks of new, uncharted market territory. Although it's not specifically a banking book, it does provide a clear glimpse into business and it gives a good explanation of why certain businesses succeed and others fail. And for my guilty pleasure, I am also reading Hunger Games. |
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