Plain Talk by Ken Iverson (June 2018)
Ken Iverson collects and distributes the wisdom he accumulated over decades as an executive with Nucor in this aptly named book. The title really does describe it all – everything Iverson shares with us budding Business Bros is written in clear and straightforward terms (1). There is no nonsense in Plain Talk, a welcome relief for those of us whose BS filters are breaking down from overuse in this day and age of constant business nonspeak.
In fact, the aspect of the book I enjoyed most was the way Iverson dismissed a lot of the business world’s accepted truisms with the air of a grade schooler saying ‘well, duh!’ For example, Iverson has no time for teaching business ethics – for him, most people would do just fine trusting their own intuition. He also rejects the concept of a rating scale being ‘objective’, pointing out that in most cases it only reflects the scorer’s subjective rating assessment of poorly defined skills such as ‘takes initiative’ or ‘works well with others’.
Not all of his commentary is immediately accessible to those with no experience in business. His insight into debt is a good example. He notes that many businesses fail to properly align their debt burden with the cyclical nature of their business. This sounds complex at first but is immediately relatable to anyone who has seen wild revenue variations from one accounting period to another. His comment that managers should keep their promises is also a good example of an observation that will instantly resonate with anyone who has worked for an inept manager.
The most significant truism Iverson rejects is that a business must plan for its successes. He adopts an experimental approach instead, suggesting that ideas worth doing must be worth doing poorly in order to encourage continuous trial and error. A culture of regular experimentation is sure to innovate in ways that planning committees or brainstorming meetings are likely to overlook. He also reminds managers that it is natural for them to become more risk averse as they age and to therefore be more mindful of their own increasing resistance to risk-taking as they progress in their careers.
Of course, succeeding in a career these days isn’t just a matter of stating it like it is and Iverson is no exception. In a few upcoming posts, we’ll take a look at some of the other skills and principles he used to become one of his industry’s most respected leaders.
Until then,
The Business Bro
Footnotes / origins of famous expressions
1. Don’t judge…
I had to wonder if Plain Talk was responsible for the expression “don’t judge a book by its cover.” Who in the world thought this cover would get readers excited for Ken Iverson’s work wisdom?!?
