Book Review; 'Dead CEOs' shares relevant lessons

Sometimes when people want to improve themselves or their businesses, the impulse is to check out the latest and greatest training method or tout a catch phrase making the rounds and work at applying it. Think "take it to the next level" or "get the right people on the bus." And people are still talking in some circles about who "moved their cheese."

While there's still nothing wrong with considering recent discoveries and philosophies when working toward improvements - they obviously play an important role in advancement - author Todd G. Buchholz is carving a niche by tapping into some of the great minds that have gone before.

Buchholz followed his book, "New Ideas from Dead Economists," with "New Ideas from Dead CEOs: Lasting Lessons from the Corner Office."

It was the phrase "dead CEOs" that drew my interest initially. And while this book wasn't exactly what I'd call an easy read, Buchholz draws together an eclectic mix of now-deceased business leaders for a history lesson, bringing to light some insights that present-day businesspeople can draw on from their careers.

Buchholz's 10 chosen CEOs, in alphabetical order, are: Mary Kay Ash, Mary Kay Cosmetics; cartoonist Walt Disney; A.P. Giannini, Bank of America; Ray Kroc, McDonald's; cosmetics icon Esteé Lauder; Akio Morita, Sony; David Sarnoff, RCA; Sam Walton, Wal-Mart; and Thomas Watson Sr. and Jr.; IBM.

A common theme from this book is perseverance, but each of the businesspeople has unique stories that may inspire others. Here are a few tidbits:

An eye for opportunity

When she died in 2002, Mary Kay Ash had built a company with 750,000 independent beauty consultants. One reason she made it work, according to Buchholz, was that she understood very well the challenges of selling, having spent years prior to the launch of her cosmetics firm selling cookware, cleaning products and gifts via direct sales.

In fact, she stumbled on the formula that would eventually become her own brand, while on a home sales call in the early 1950s. A lesson to remember? Opportunity can come in surprising places. Another from Ash is that business leaders need to be unwavering in supporting their ventures.

In the early 1980s, the then-public company's sales hit a rough patch as more women entered the work force and were less available to join the direct sales team or to serve as hostesses.

Investors got nervous when the number of consultants dropped by more than half to 100,000 between 1983 and 1985. As investor confidence wavered, Ash and her family stepped in, borrowing $315 million to buy back the business. It's safe to say her investment paid off.

Equal-opportunity sales

Buchholz describes Esteé Lauder, a cosmetics guru who died in 2004 at an undetermined age - she was famously sketchy on the details - as "a marketing genius, a quality control freak and a social climber ... ." Evidence of her genius, he writes, is the fact that she virtually invented the idea of free samples, sending her product even to Princess Grace of Monaco, who later became a friend.

The idea that anyone is a potential customer, regardless of social status, is something that can be applicable today. She found her customers anywhere and everywhere - her first retail space was in the House of Ash Blondes, where she went each month to have her hair done. As other women were captive with the peroxide in their hair, she convinced them to try her products, until eventually the owner rented her a small sales space. And the rest, as they say, is history.

Well-rounded CEO pool

I was most drawn to the familiar names in this book - Disney's and Walton's chapters have plenty of good stuff. As a kid who grew up amid McDonald's march into small-town America, I also enjoyed Buchholz' inclusion of Kroc and the eatery's history.

But I also learned some interesting history about the CEOs who were less familiar to me.

I didn't know, for example, that Akio Morita's love of electronics and taking them apart to see how they worked began with an electronic phonograph.

It wasn't fostering a love of music that his father worried about, though - he was actually worried that his listening to the scratchy, hand-cranked Victrola would damage his son's hearing.

Sony would later unveil the Walkman, which debuted in 1979, and the first CD player, as well as some flops - Betamax, anyone? - but his journey from the Morita family's sake and soy dynasty to the helm at Sony is fascinating.

This book is a meaty - and sometimes, thick - read. For those willing to invest the time, though, it does bring some terrific perspectives to the table.[[In-content Ad]]