MilliOnAir Magazine July/August | Page 270

For those wanting to understand digital growth better, what 3 books would you recommend?

Personally, I find "How to Go Digital: Practical Wisdom to Help Drive Your Organizational Digital Transformation (The Digital Future of Management)" by MIT Sloan Management Review exciting. The book offers advice from management experts on how to drive your business into the digital future.

"Leading from Within: Conscious Social Change and Mindfulness for Social Innovation" by Gretchen Ki Steidle is also worth reading. Steidle describes how personal investment in self-esteem can shape leaders, inspire change in others, build stronger relationships, and design innovative and more sustainable solutions.

Last but not least, I recommend "Platform Revolution: How Networked Markets Are Transforming the Economy - and How to Make Them Work for You," a book by authors Geoffrey G. Parker, Marshall W. Van Alstyne, and Sangeet Paul Choudary. These three highly sought-after experts on platform businesses reveal the “what, how and why” of this revolution and provide the first "user manual" for building a successful platform business.

Brilliant recommendations! I’m sure a few people will be adding those to their reading list. What ad-hoc practical tips/advice can you give entrepreneurs who want to grow their business in the digital world?

This question cannot be answered in a simple blanket statement. It depends on many different factors, e.g. in which industry does the company operate and in which phase is the market? Most important, however, is the personality of the entrepreneur - if he or she is a hero, team player, patriarch, adventurer, or explorer.

My personal experience is:

I have always found it valuable to distance yourself from the business from time to time. I also find it useful to exchange with trusted people.

Often you are too personally involved in the topics in everyday business. This makes it hard to see beyond what is right in front of you, which makes it significantly harder to make informed decisions.

That's why I take one week off every quarter. I actually set an appointment with “myself”. During this week, I do things that have nothing to do with the business at all. For example, I go mountain hiking, try out new sports or just read a book on the beach.

No matter what I do, after this week, I return to work with a clear mind and rejuvenated gut instinct.

Wise words Mike. Some Entrepreneurs are on the go all the time and end up burning out. Taking time out is paramount, even if it’s just a few minutes per week.

As a trusted advisor, you work with many executives across the globe. What does good leadership mean?

I notice again and again in companies that leadership is understood as a method or "work instruction". I firmly believe that leadership is much more: an attitude based on a value system.

Above all, this requires a clear commitment from leaders and their teams. The core task is to build a trusting relationship based on mutual appreciation.

For the longest time, executives - and C-level executives, in particular - used to have the “last word” in many organizations. Decisions could be and, routinely were, made single-handedly by one individual in charge, even if their entire team disagreed.

This approach is nearing its well-deserved end. And it is about time: Authoritarian styles of leadership completely fail to meet modern business requirements.

Professionalism and a laid-back attitude are not mutually exclusive. Kindness does not equal weakness. And not only does enthusiasm for genuine cooperation lead to a very special team spirit, it also produces excellent results.