Powerful Buchzusammenfassung - das Wichtigste aus Powerful

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Zusammenfassung von Powerful

Name: Powerful
Rating: 4.2 (52 reviews)
Author: Patty McCord

Patty McCord

Building a Culture of Freedom and Responsibility

4.2 (52 Bewertungen)

18 Min.

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Powerful by Patty McCord is a business book that offers insights on how to create a high-performance workplace culture. It emphasizes the importance of clear communication, feedback, and empowering employees to take ownership of their work.

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What’s in it for me? Learn how to navigate the market like Netflix.

Ask any businessperson, and they’ll tell you: today’s market is dynamic and ever-changing, requiring businesses to constantly up their game and adapt with unprecedented speed. But they don’t all agree on how to stay afloat in these lightning-paced times.

These blinks present entertainment giant Netflix’s survival techniques, which are driven by eight central management practices.

By adopting these practices, you may well give your company the edge that Netflix continues to enjoy, whether your business is just starting out or figuring out how to surge ahead of the competition.

You’ll also learn

why managers should listen to employees;
the downside of the annual review system; and
that working for Yahoo! won’t prepare you for life at Netflix.

Keep your business agile by giving teams the freedom to do their best.

If you’re a business manager, then you know that efficiency is key to success. And you probably have a set of procedures and policies that keep things efficient – a strict workflow that ensures relevant issues are brought to your attention as quickly as possible.

But what if you were to learn that rigid structuring and inflexible procedures, though supposedly making your business more efficient, were, in fact, making it less so?

In today’s fast-paced and ever-changing market, it’s best to make your business lean – that is, as procedure-free and structureless as possible.

The first step toward leanness is to jettison the traditional, top-down management that’s hog-tying most businesses. The goal is to be as agile as possible, and if employees must seek your approval or opinion whenever a decision needs to be made, your business will become stiff and sluggish – the opposite of what it should be.

Netflix is an excellent example of corporate nimbleness. With grace and speed, they adapted to the changing needs of viewers, transitioning from a by-mail DVD-rental company to a top-notch streaming service. This nimble adaptation would have been impossible had the company been mired in outmoded management protocols.

But perhaps your company relies on various fixed policies, such as rewards or bonuses, to incentivize employees, and you worry that removing this structure will damage their motivation.

Well, worry not. If workers feel that they’re part of a strong team and that their contributions truly matter, they’ll be more motivated than ever. And the best way to build driven teams is to give workers the freedom to solve problems and tackle projects in their own way.

Indeed, once you loosen the reins, your employees may start producing even better results, because making a real contribution to important projects is a reward in and of itself.

This certainly happened at Netflix.

In 2001, the company experienced major economic difficulties and was forced to lay off a third of its workers. The remaining employees, all of whom were highly talented, were forced to take on more responsibilities and work, which proved quite beneficial. Now that each person’s work made a major difference, everyone put in much more effort – and Netflix was soon on its way to recovery.

To ensure everyone understands the business, managers and employees must communicate.

Imagine you’re at the edge of a raging river. You want to get to the other side, but there’s only a wooden footbridge and, for all you know, the wood is rotten and will break the moment you put weight on it.

Well, if you don’t constantly communicate with employees and management, your business will be like that bridge – a potentially flimsy structure that might plunge you straight into the rapids of bankruptcy.

You must be honest and transparent – but don’t make it personal.

What if, unbeknownst to you, your breath reeked of garlic? Or what if, without really realizing it, you habitually picked your nose when deep in thought? Would you want your coworkers to politely ignore such pungent or unsightly details? Or would you rather have the tough news delivered to your face so that you could mend your ways?

Though potentially painful, radical honesty is extremely beneficial, because it creates an atmosphere of transparency that’s conducive to continuous learning and growth – an atmosphere that politer policies will never lead to.

Debate is fine, but opinions should be based on fact, not just data.

It’s often thought that debate is a sign of discord, and that debate within a business is a symptom of corporate disunity. But this isn’t the case at all. As long as people’s opinions are based in fact, debate is extremely generative and should be encouraged.

Constructive debate, far from causing corporate division, is the best way to enliven a company. It introduces new points of view and keeps workers from getting too fixed in their work habits. It should thus be heartily encouraged.

When putting together a team, look six months ahead.

We’ve all heard that we should enjoy the moment because the present is all we have. And while that might be sound personal advice, in the world of business, it would be foolhardy not to look toward the future.

More specifically, you should always hire the team you know you’ll want to work with in the future too.

Surround yourself with the best people and ensure that HR knows exactly how the business works.

More often than not, hiring goes hand in hand with firing. So what’s the most effective way to bring people on and let people go?

Well, here are some helpful pointers:

When calculating employee compensation, look beyond numbers and performance reviews.

Have you ever tried to resell anything? Maybe an old smartphone or laptop or car? It’s not so hard to calculate an asking price, right? All you have to do is go online, figure out how much that particular model is worth and – presto! – you’ve got a price tag.

People are a bit harder to put a price on. But here’s a tip to make the calculation of employee worth a little bit easier.

Frequently review employee performance and ask yourself whether people can improve or should be let go.

This morning, you gave the presentation of a lifetime – and you nailed it. The audience was utterly captivated, laughed at your jokes and shouted and applauded when you finished. Now it’s evening, and it suddenly hits you: they were laughing at you, and those shouts were taunting, that applause derisive.

Well, to avoid employees having such unpleasant and delayed realizations, you need to give employees feedback constantly.

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Worum geht es in Powerful?

Based on the work practices at Netflix, Powerful (2017) is a guide to building a work culture that can adapt to today’s fast-paced and ever-changing markets. It offers insights that are rooted in an unconventional way of managing people. You’ll discover eight practices of management that’ll help you create a successful work culture and business.

Bestes Zitat aus Powerful

. . . there is no better reward than making a significant contribution to meeting a challenge.

—Patty McCord

Wer Powerful lesen sollte

Leaders and managers
Entrepreneurs
Anyone interested in the stupendous rise of Netflix

Über den Autor

Patty McCord served for almost a decade-and-a-half with the Netflix executive team, experimenting with the company’s workflows and creating a high-performance work culture as a result. McCord is now a consultant serving big corporations and smaller start-ups alike. She is also a frequent public speaker and has contributed to publications such as the Harvard Business Review and NPR.

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