The Execution Factor Book Summary - The Execution Factor Book explained in key points

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Name: The Execution Factor
Rating: 4.4 (61 reviews)
Author: Kim Perell

Kim Perell

The One Skill that Drives Success

4.4 (61 ratings)

29 mins

Brief summary

"The Execution Factor" by Kim Perell is a practical guide for entrepreneurs looking to take their business to the next level. It offers actionable steps to overcome obstacles and achieve success through focus, passion, and perseverance.

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Career Progress Success

Table of Contents

The Execution Factor
Summary of 11 key ideas

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Key idea 1 of 11

What’s in it for me? Learn how to develop the five traits that are crucial to success.

In 2001, at the age of 23, when she was broke and unemployed, the author identified three overarching goals that she wanted to achieve in her life: to have freedom, to be her own boss and to control her own destiny. Just seven years later, in 2008, she was a multimillionaire who had sold her first company for $30 million.

Having achieved her goals, she decided that she wanted to help other entrepreneurs achieve them as well. To that end, she became an angel investor – a person who provides investment capital to start-up companies. In the course of investing in more than 70 companies, she has observed that the crucial factor that turns entrepreneurial dreams into successful realities is the ability to execute – to carry out a plan of action.

This execution factor, in turn, depends on five traits, all of which can be developed by anyone willing to put in the work such development requires. These blinks explore the five traits of execution – taking each in turn, explaining some general principles to deepen your understanding of them and then discussing some specific, practical techniques for mastering them.

Along the way, you’ll learn

how to refine an idea into a vision;
how to take the first step toward pursuing that vision; and
how to become more resilient in your pursuit of that vision.

Having a vision provides you with guidance on your journey to success.

In 1961, at the height of the Cold War, the United States found itself falling behind the Soviet Union in the space race. The Soviet cosmonaut Yuri Gagarin had become the first human to reach outer space, beating the United States to that accomplishment. So to spur his country into action, President John F. Kennedy made a bold proclamation: by the end of the decade, the United States would land an American astronaut on the Moon.

In making this proclamation, Kennedy was articulating a vision – an ambitious, visualizable and inspiring aspiration for the future. Having a vision is the first trait of effective execution. In Kennedy’s case, it was a vision for an entire nation, but you, too, can have visions for yourself, your career or the company you’re working for or want to start.

Bringing our analogies back down to earth, while still keeping an eye on the heavens above, you can think of your vision as being akin to the North Star that once helped sailors navigate the seas. Like that celestial body, a vision provides you with a reference point that can help you navigate life’s choppy waters and unexpected waves.

Those “waves” are the events, setbacks and competing pressures that can distract you from pursuing your dreams. By keeping your mind’s eye fixed on your vision, you can stay focused on your life’s work and maintain your direction toward your desired destination, even during tough times.

That destination is the future you envision for yourself. It can take many forms. It could be a purpose you give to your life, such as having a positive impact on the environment. It could be a vocation, like cooking. Or it could be a personal goal, like purchasing a home, starting a business or completing a marathon.

Whatever your destination, you will likely find yourself taken in unexpected directions as you pursue your vision, especially if it involves a more general goal that can be achieved in various ways, such as financial freedom. For instance, the author’s first business was a digital-marketing company that sold a motley assortment of products – ranging from teeth whiteners to remote-control toys.

Was this the precise future she envisioned for herself when she was younger? Of course not – but it was part of the path that led her to achieve financial freedom.

You’ll never know exactly where your vision will take you until you get there!

To have an effective vision, you need to make sure it’s clear, compelling, meaningful and pertinent to you.

If you don’t already have one, how do you develop a vision for yourself? Well, most of us have ideas about things we might want to do or achieve some day. These ideas provide us with the raw material for a grand vision – but to turn those little sparks of imagination into a guiding North Star, we need to refine them. For starters, all visions have four qualities.

The first quality is clarity. You should be able to clearly articulate your vision in a single sentence, and, in your mind’s eye, you should be able to clearly see it coming to fruition. If you can’t do either of these things, then go back to the drawing board and refine your vision.

To confirm and pursue your vision, you should test it out, visualize it, remind yourself of it and prioritize it.

How do you avoid pursuing a vision that’s at odds with who you really are? How do you make sure your vision is really your vision, and not someone else’s vision for you?

One way is to test out your vision on a smaller scale, before you fully commit. For example, if you enjoy cooking for your friends and were thinking about starting a food truck, you could try participating in a cook-off contest. That way, you’d gain a relatively risk-free experience of cooking for strangers, which may feel very different than cooking for friends.

Passion provides you with the emotional energy you need to make the sacrifices that success requires.

By defining your vision, you’ve answered the question, “What do you want to execute?” Now the question becomes, “How do you execute it?” This brings us to the second trait of effective execution, which is passion.

When you hear that word, the first thing that probably comes to mind is a strong, enthusiastic emotion, as in the sentence, “John has a passion for marketing.” However, that’s only one sense of the term; there’s another sense that’s also relevant here. It goes back to the etymology of “passion,” which derives from the Latin word pati, meaning “to suffer or endure.”

You need to identify, feed and prioritize your passion to fully benefit from it.

To tap into the power of passion, you first have to know what you’re passionate about. If you don’t already have a clear conception of this, ask yourself the following: What do you love so much that you’d be willing to make significant sacrifices for it?

Maybe it’s a subject, such as fashion or animals. Maybe it’s a skill or activity, such as writing or painting. Or perhaps it’s a role, such as being a teacher or a caretaker.

When beginning to pursue your vision, the key is to act by taking a small first step.

Once you’ve found your vision and your passion, you’re like a driver with a destination in your mind and a full tank of gas in your car. You’re ready to head out – but you won’t actually go anywhere until you put your foot down on the accelerator pedal.

That’s the third trait of effective execution: action. Suffice it to say that no one ever accomplished anything without taking action, which, in this context, means doing something that takes you closer to following your passion and achieving your vision.

Progress toward achieving your vision requires forward movement coupled with a daily review process.

What comes after you take your first step of action toward following your passion and achieving your vision? Well, this might sound glib, but the answer is pretty simple: after your first step comes your second step – and then your third step, your fourth step and so forth!

Obvious as this may be, it does bring up a less obvious consideration that’s important to bear in mind: your first step may be a great success – but to keep moving toward your vision, you have to, well, keep moving. If you just keep taking the same step over and over again, you’re not going to get anywhere.

Resilience is the trait that can help you withstand and even benefit from challenges and setbacks.

The fourth trait of effective execution involves another word with two meanings: resilience.

Here’s the first meaning: if someone or something is resilient, that means that he, she or it can withstand the turbulent winds of fate. For instance, if a building can weather the literal winds of a hurricane, it would be labeled as resilient.

You can develop your resiliency by taking care of yourself emotionally and looking for opportunities to exercise it.

So how do you become more resilient? Well, you can think of your resiliency as a mental muscle – something that, just like a physical muscle, can be developed with exercise.

But first, it helps to stretch and relax the muscle. That means taking care of yourself emotionally, so you can alleviate your stress, anxiety and fear. This will allow you to be calmer in the face of adversity, which will help you make better decisions.

Expanding, deepening and maintaining relationships are the key to augmenting your abilities to execute.

The fifth and final trait that leads to effective execution is the most decisive one of all. You can have the clearest, most compelling vision in the world, and you can pursue it with relentless passion, action and resilience – but you’re not going to get very far if you try to do everything alone. You need the help of other people, and that’s what the final trait is all about: relationships.

As the old saying goes, no man (or woman) is an island. All of us have limited time, energy, skills and knowledge. But by pooling these precious resources together, we can expand the range of what we can accomplish.

Avoid negative relationships, while making reasonable exceptions to this rule.

The ideal relationship is one that’s win-win, where both parties mutually benefit from each other. Sadly, however, many relationships are win-lose or even lose-lose. What’s more, some relationships that were once win-win descend into negative territory.

In light of these facts, the author recommends conducting a periodic life audit of your relationships. Once a year, she sits down and reviews all of her relationships one-by-one, splitting them into two categories.

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What is The Execution Factor about?

The Execution Factor (2018) identifies five traits shared by people who know how to effectively accomplish their dreams and goals. By sharing general principles and specific tips on how to cultivate them, Kim Perell demonstrates how to transform yourself into just such a person.

The Execution Factor Review

The Execution Factor (2018) is a book that explores the key elements needed to turn ideas into reality and achieve success. Here's why this book is worth your time:

It offers practical strategies and actionable advice that can be implemented immediately, helping individuals overcome obstacles and take action towards their goals.
Drawing from real-life experiences and success stories, the book provides relatable examples that inspire readers and show that execution is attainable.
Through engaging storytelling and insightful anecdotes, the book keeps readers captivated, ensuring that the journey of execution is anything but boring.

Who should read The Execution Factor?

Professionals wanting to take their effectiveness to the next level
Quarter-life and mid-life crisis experiencers wanting to gain a sense of direction
Dreamers wanting to turn their ideas into realities

About the Author

Kim Perell is a highly successful entrepreneur, executive and angel investor who became a multimillionaire before the age of 30. She has been dubbed one of the Most Powerful Women in Mobile Advertising by Business Insider, a Marketing Technology Trailblazer by AdAge and an Entrepreneur of the Year by Ernst & Young. She is the CEO of Amobee, an innovative global-marketing technology company.

Categories with The Execution Factor

Personal Development Career & Success

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