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Blink 3 of 8 - The 5 AM Club
by Robin Sharma
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Better and Faster summary
Jeremy Gutsche
The Proven Path to Unstoppable Ideas
15 mins
Brief summary
Better and Faster by Jeremy Gutsche is a business book that teaches how to spot and capitalize on emerging trends, using case studies and unique frameworks. It shows how to think creatively and disruptively, and stay ahead of the competition.
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Better and Faster
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Key idea 1 of 6
Three “Farmer Traps” – complacency, repetition and overprotectiveness – stand in the way of success.
Every business leader thinks they have what it takes to succeed. They’re smart enough to know what needs to be done and tenacious enough to overcome any obstacle that stands in their way.
Nonetheless, failure in business is as common as dirt. And that’s because the people at the top – especially those in fast-changing industries – frequently fall into one of the three so-called farmer traps.
Farmer trap #1 refers to complacency, which develops when people rest on the laurels earned from past successes.
As an example, look at typewriter manufacturer Smith Corona, a former industry giant who became complacent and failed to adapt to the changing marketplace. In 1990, the company pulled out of a joint venture with computer giant Acer, because they believed their business was too strong to be vulnerable to market change. Three years later, Smith Corona declared bankruptcy; they’d been crushed by the emerging computer sector.
Similarly, farmer trap #2 occurs when you repeat actions that brought success in the past and expect the same outcome in the present.
Blockbuster Video is the perfect example of a business that crumbled because it fell into the Farmer Trap of repetition: in 2009, the franchise boasted 9,000 locations and 60,000 employees. But just a year later, Blockbuster declared bankruptcy: the company had failed to adapt to the streaming market, continuing to direct almost all their resources into franchising and physical media.
Finally, farmer trap #3 describes a state of protectiveness. This occurs when companies set up barriers that protect the status quo and inhibit evolution.
For instance, film manufacturer Kodak missed some wonderful opportunities because they were overly protective of their elite status in the analog film market. But that was a big mistake: the company’s unwillingness to invest resources into digital innovation led them to declare bankruptcy in 2012.
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What is Better and Faster about?
Better and Faster (2015) outlines a specific set of tools and guidelines readers can use to outmaneuver their competition and attain success in the chaotic and unpredictable modern marketplace. Using countless real-life examples – both cautionary tales and inspiring success stories – Jeremy Gutsche lays out a path for finding opportunities and developing successful business ideas.
Better and Faster Review
Better and Faster (2015) by Jeremy Gutsche is a thought-provoking read that explores how to thrive in an ever-changing world. Here's why this book is worth your time:
- Packed with inspiring stories and case studies, it offers valuable insights into how to spot and seize opportunities.
- Gutsche's innovative framework provides a roadmap for creative thinking and encourages readers to challenge conventional wisdom.
- The book's emphasis on adaptability equips readers with the mindset and tools needed to stay ahead in the face of rapid change.
Who should read Better and Faster?
- Aspiring entrepreneurs
- Business leaders
- People trying to successfully navigate the modern business world
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Better and Faster FAQs
What is the main message of Better and Faster?
The main message of Better and Faster is to embrace change and innovate to stay ahead in today's fast-paced world.
How long does it take to read Better and Faster?
The reading time for Better and Faster varies, but it typically takes several hours. The Blinkist summary can be read in just 15 minutes.
Is Better and Faster a good book? Is it worth reading?
Better and Faster is a worthwhile read. It provides valuable insights and practical strategies for thriving in a rapidly changing environment.
Who is the author of Better and Faster?
Jeremy Gutsche is the author of Better and Faster.
What to read after Better and Faster?
If you're wondering what to read next after Better and Faster, here are some recommendations we suggest:
- Lateral Thinking by Edward de Bono
- Start Now. Get Perfect Later. by Rob Moore
- Either/Or by Soren Kierkegaard
- Blink by Malcolm Gladwell
- Walmart by Natalie Berg and Bryan Roberts
- The 7 Habits of Highly Effective People by Stephen R. Covey
- Life After Google by George Gilder
- MicroSkills by Adaira Landry & Resa E. Lewiss
- The Messy Middle by Scott Belsky
- The Founder's Mentality by Chris Zook & James Allen