Customer Reviews

New Ideas from Dead CEOs: Lasting Lessons from the Corner Office

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Actually, it was Bernard of Chartres, not Isaac Newton, who should be properly credited with first observing that "we are like dwarfs on the shoulders of giants, so that we can see more than they, and things at a greater distance, not by virtue of any sharpness on sight on our part, or any physical distinction, but because we are carried high and raised up by their giant size." I thought of that observation as I began to read Todd Buchholz's book about ten "giants" of the business world, each of whom introduced or refined "new" ideas that have, by now, been widely adopted.

The ideas on which Todd Buchholz focuses in this book were obviously "new" at one time but have by now become widely-adopted core concepts for achieving and then sustaining success in business. For example, almost all of the ideas about salesmanship that Thomas J. Watson, Sr. institutionalized so effectively at IBM and his son Thomas Jr. then refined were developed years earlier at National Cash Register when CEO John Patterson noted that his brother was outselling everyone else, examined how he achieved it, and established what is reputed to be the first corporate sales training program (in 1893) based on his brother's sales strategies and tactics. It is worth noting that Watson Sr. worked for IBM for several years and later acknowledged the value of what he learned about salesmanship from its branch manager in Buffalo, John J. Range.

In (of all places) the book's concluding chapter, Buchholz offers a challenge to his reader and makes a statement that indicates his approach top each of the ten "giants":

"I dare you. Search this book for the solitary secret that will guarantee riches while protecting you from being flung against the wall by competitors. You won't find it." Buchholz then continues, "Not because I have failed to divulge the lives and lessons f great CEOs, but because I tried to reveal the simple truth about making it big: It does not take a village, a Harvard MBA, or even a rich uncle. It takes passion, and obsession with turning a great idea into a sweeping revolution."

That is certainly true of A.P. Giannini who "invented modern banking" by establishing and then building his Bank of Italy (that eventually became Bank of America) with a customer base of "the little people" (e.g. immigrants) and small businesses ignored by other banks. It is also true of Estée Lauder who "recognized that by placing herself among the `power elites,' to borrow C. Wright Mills' phrase, she could more easily market her cosmetics to the strata just below them." One of her most important insights was that she could sell more perfume by avoiding the word "perfume." She was among the earliest (if not the earliest) of those who recognized how important it is to members of the lower and middle economic classes to have a "taste of luxury" even if and especially if, that is all they can afford. Mass affluence has become and remains among the most significant phenomena in contemporary marketing.

Of special interest to me is what Buchholz reveals about David Sarnoff `s life and career, and especially his impact on the communications media in the 20th century. He was hired by Guglielmo Marconi to work for the Marconi Wireless Telegraph Company as Marconi's personal assistant. He enrolled in and was among the few to complete an electrical engineering course at the Pratt Institute. He was on duty the night of April 14, 1912, when he received a message from H.M.S. Titanic that it was struck an iceberg and was rapidly sinking. Of course, there was nothing he could do except share this tragic news with his associates. But he began to think about an intriguing challenge: How to deliver sound to more people? Over the next several decades, he served as CEO of the Radio Corporation of America (RCA), heading an organization that delivered first sound, then pictures, and eventually colored pictures to people throughout the world. "David Sarnoff conquered radio and television because he had the brainpower and the willpower to understand both the science and the business."

Buchholz also has much of value to say about the lives and careers of Mary Kay Ash, Ray Kroc, Akio Morita, Walt Disney, and Sam Walton. With regard to Ash, in response to someone's suggestion that pink (actually mountain laurel) Cadillacs are "tacky," she inquired: "What color was the car your company gave you?" As a boy, Disney lived with his family on a small farm near Marceline, Missouri, for only a few years but later immortalized it as Main Street, USA, an especially popular area that welcomes visitors to both Disneyland and Walt Disney World. "In fact, along Main Street, Walt honored his father with a fictitious second-story shop, featuring the following window sign: Elias Disney - contractor - est. 1895." Some of the anecdotes that Buchholz shares about them and the other CEOs are well-known, some less so. However, in combination with a wealth of carefully selected historical material, they help to reveal the CEOs' "passion, and obsession with turning a great idea into a sweeping revolution."

Those who share my high regard for this book are urged to check out Richard Tedlow's Giants of Enterprise: Seven Business Innovators and the Empires They Built, Michael J. Silverstein and Neil Fiske's Trading Up: Why Consumers Want New Luxury Goods... And How Companies Create Them (Revised and Updated), and Paul Nunes and Brian Johnson's Mass Affluence: Seven New Rules of Marketing to Today's Consumer.

An insightful collection of essays and glimpses into the lives of some of the most successful CEO's of the 20th century. Passion, drive, talent, and luck are all certainly the characteristics evident in each life story. Todd Buchholz delivers a fair mix of trivia and insights into the evolution of each company and the CEO at the helm. One recurring theme: find an un-served market segment; a niche that is sneered at by the current market. For a similar read, make sure you take a look at `Founders at Work' by Jessica Livingston.

This book was entertaining and informative for someone with a limited background in economics. I'm so glad it was recommended to me. The individuals who were profiled especially the women made it most relevant.
The author is witty and his style keeps the reader interested from beginning to end. Anyone buying this book is in for a treat.

Unbelievable what this author has done! He has gone to the past and brought to life CEO's that I have heard of as I was growing up, and never really knew much about. His writing holds the interest of the reader from beginning to the end of the book. This is a book that shows impeccable knowledge and humor that should be in your library .

Any businessman seeking the keys to business success from CEO expertise will welcome NEW IDEAS FROM DEAD CEOS, which examines the professional and personal lives of corporate giants who succeeded where others failed. From Estee Lauder's ideas on selling high-priced cosmetics through a new market to Kroc's lessons from Krispy Kreme, discussions of inventions, business school and real world influences, and businessman influences and innovations make for enlightening, lively business history reading perfect for both business and public libraries alike.

You may have read the stories of these folks before . A.P.Giannini (Bank of America), David Sarnoff ( RCA) Tom Watson Sr & Jr., Akio Morita (Sony), Sam Walton, Estee' Lauder, Ray Kroc, Mary Kay Ash, Walt Disney. Buchholz gives us fresh insights into their very different backgrounds, shaping moments, relationships and ultimate contributions. Lessons learned for me. The Open Source movement is built on a major technology sharing forum, well Sarnoff did that and more with building TV technology in the US a long time ago. We see that same sharing culture displayed by major firms today such as Herman Miller. I did not know the angst that Thomas Watson Sr put Tommy (Jr) through, nor really how crazy John Patterson of NCR , who single handedly invented professional sales in America, was yet he shaped Tom Sr into one successful salesman. Quick, easy read written by an economist who writes well and clearly. Lots to learn here. Did you hear the one from Seth Godin, " I do no consulting. If I did, I would need to think I could help my clients. No one helps you change, change comes from within.' This book could help start the change from within.

If you want a small history lesson on CEOs I guess this is the book for you, but for business majors, most of these lessons are pretty common knowledge.

I picked this book up, as it was recommended from my mentor, and couldn't put it down. As a new entrepreneur I found this book to be truly inspiring. The strength and clarity of vision that all of these groundbreaking business leaders shared is an amazing thing to keep in mind for anyone just starting out. It also has so many examples of true inventiveness, passion and leadership that EVERYONE should read it! It is not just for the business world. The people that Buchholz so eloquently informs us about are all individuals who impacted the world in a huge way, so it is also good for any history buff, too. A must read!

This book is a must read for any goal oriented person. As a woman who is on the success track, I read everything I can get my hands on that might guide me further toward my goal. This writer's offerings are of such value to anyone who's objective is success. Mr. Buchholz' witty writing style is an added gift, making it one of those "easy reads". I will constantly be referring back to this book for continued inspiration!

Another great book from this author that succinctly captures business principles, and presents them in a understandable and straightforward fashion. Mr. Buchholz certainly offers great insight into some of our business leaders and what made them successful. This is the second book I have read from this author. In Bringing the Jobs Home, Mr. Buchholz offered to readers and very understandable explanation for the current problem of job outsourcing and how to fix it. His current work is another very good book on an important subject.