If you run a business or are involved in one, there will always be times when the going gets tough, especially now given the lingering headwinds of COVID-19 and the recession. If you’re in charge, it can be a heavy weight on your shoulders, and sometimes navigating your problems seems impossible. What should you prioritize? How should you instruct and motivate your employees during social distancing, especially if your people are working from home? What if you need to break the news to customers that supply chain constraints will significantly delay their project?
If you find yourself in this situation, you’re certainly not alone, which is why you might benefit from reading Ben Horowitz’s The Hard Thing About Hard Things. Horowitz was a co-founder of LoudCloud, one of the first cloud service providers, but due to several misfortunes the business quickly hit the skids. He had to learn quickly, to say the least, and he has plenty of advice for others who find themselves struggling:
- Prioritizing the Three P’s in your office: “the people, the product and the profits – in that order.”
- Not attacking problems on your own and telling it like it is – be straightforward with your employees and encourage everyone to offer solutions.
- Running your company – hiring the right people, promoting good behavior and minimizing politics.
- Working on yourself and streamlining your vision.
- And if it comes to it, dealing with layoffs or firing employees.
Of course, avoiding dire straits would be ideal. However, if you find yourself in an unlucky spot at present, consider this book a survival guide you should have on your nightstand.
Here is the summary from Amazon:
“Ben Horowitz, cofounder of Andreessen Horowitz and one of Silicon Valley's most respected and experienced entrepreneurs, offers essential advice on building and running a startup—practical wisdom for managing the toughest problems business school doesn’t cover, based on his popular Ben’s Blog.
“While many people talk about how great it is to start a business, very few are honest about how difficult it is to run one. Ben Horowitz analyzes the problems that confront leaders every day, sharing the insights he’s gained developing, managing, selling, buying, investing in, and supervising technology companies. A lifelong rap fanatic, he amplifies business lessons with lyrics from his favorite songs, telling it straight about everything from firing friends to poaching competitors, from cultivating and sustaining a CEO mentality to knowing the right time to cash in.