Business Adventures Book Review

Hailed as a business classic by the likes of Bill Gates and Warren Buffett, Business Adventures is a must read.

Business Adventures remains the best business book I’ve ever read.

Bill Gates 

A couple of years ago, I read Bill Gates calling this his "best business book". I bought the paperback but found it onerous to read. This time, I tried it on my Kindle and succeeded.

This is a heavy, excruciatingly detailed book set in the time period that dates back to the 60's. It is an awesome book, but be prepared to spend 10 hours+ reading it.

Why does Bill Gates think it's the best business book? 'It's because the book is a framework of what business should, or not do!

Here is what I loved including quotes, and lessons:

• The story of Ford's fantastically failed car, The Edsel.

Lesson? Don't believe in market research beyond a point.

• One of the most persuasive and most frequently cited explanations of the Edsel’s failure is that it was a victim of the time lag between the decision to produce it and the act of putting it on the market.

• The awesome story of Xerox.

Lesson? If you have a great vision, go at it until you succeed.

• The story of G.E's price-fixing.

Lesson? The challenge of sticking to Principles & Ideals when business is down!

• The rise & fall of Piggly Wiggly Stores.

Lesson? Don't try cornering stock markets. Focus on building your business instead!

• All about stockholder activism (quite funny)!

"Evidence that people are selling stocks at a time when they ought to be eating lunch is always regarded as a serious matter."

• The incredible fight of secrecy over American Astronauts Suits.

Lesson? Confidentiality & non-compete are very hard concepts!

• The Pound's battles with speculators.

Lesson? What's weak will fail.

• "The road to Hell is paved with good intentions!”

• The cartoonist Jules Feiffer, contemplating the communication problem in a nonindustrial context, has said, “Actually, the breakdown is between the person and himself. If you’re not able to communicate successfully between yourself and yourself, how are you supposed to make it with the strangers outside?”

"I find that companies are inclined to be at their most interesting when they are undergoing a little misfortune."

• “All of us have ‘our method’ of doing a million things—our method of combing our hair, shining our shoes, mowing our lawn,” the court mused, and concluded that a trade secret must not only be unique and commercially helpful but also have inherent value."