Acres of Diamonds

Think Big Things and Then Do Them

This week’s book review is Acres of Diamonds by Russell Conwell.


Conwell was a war hero, lawyer, businessman, educator, orator, minister, and visionary who is probably most famous for founding Temple University and for his trademark lecture “Acres of Diamonds.” This book is a transcript of the lecture along with a biography of his life and a commentary of the impact he has made on the world before his death in 1925.

The central point of the Acres of Diamonds lecture is that we do not need to look in exotic places to find business opportunity. Business opportunities are all around us. All we need to do is change our focus to looking at the needs of society and the people around us . . . If we strive to serve their needs, business opportunity will present itself!

My takeaway from this book are these three statements from Conwell’s lecture:

What is the Recipe for Powerful and Effective Meetings?

According to a University of North Carolina cross-industry study cited by HBR in their Stop the Meeting Madness article, 71% of senior leaders said that meetings are unproductive and inefficient.

In addition to this, they said that meetings:

  • Keep them from completing their required work (65%)
  • Come at the expense of deep thinking (64%)
  • Miss opportunities to bring the team closer together (62%)

My Poll Results

How to Use Combat Lessons From Iraq To Improve Your Business

Many business leaders overlook leadership lessons from the military because we don’t think they cross the chasm between the harsh realities of war and the world of business.

I would argue that, regardless of the differences in operating environments, the same leadership principles do apply. In fact, the leadership principles tried and tested in the most extreme combat conditions must be applied in the world of business! If business leaders are not leveraging leadership lessons from the military then we are doing ourselves and our organizations a great disservice.

For example, how many times have we seen a power struggle between two mid-level business unit managers while the leader of these managers is too scared or preoccupied to take action to resolve the situation. When the lack of action by the leader allows the squabbling to continue, inevitably the whole business suffers. Morale drops, production and sales fall, customer relations are hurt and eventually the bottom line of the business feels the impact. The inability of a leader to take decisive action to resolve internal strife will damage your business.

This inaction and lack of decisiveness is not tolerated in military leadership. Lack of decisiveness costs lives in combat. Plain and simple.

It seems pretty easy to transfer this lesson from the military arena to the world of business but what about other leadership lessons?

Extreme Ownership

How U.S. Navy SEALs Lead and Win

This week’s book review is Extreme Ownership by Jocko Willink and Leif Babin.

Willink and Babin have earned their leadership stripes in some of the toughest environments known to mankind – as SEAL team leaders under combat conditions in Ramadi, Iraq. These guys definitely have what it takes and know what true leadership is all about. After leaving active service Willink and Babin started their own business consultancy called Echelon Front where they apply their leadership expertise into the business world. Extreme Ownership summarizes their leadership experience and knowledge and how it can be applied to the business world.

My takeaway from this book is the 12 Leadership Principles summarized briefly below:

How To Overcome Fear So It Doesn’t Destroy Your Business

The biggest obstacle standing between you and fulfilling the vision for your organization is fear!

I recently had a chance to listen to Gary Haugen speak at a conference and he was really clear about this point. Fear is the silent destroyer of dreams.

Leadership begins with a dream and fear fights hard to destroy it! Leaders must be vigilant and not give in to fears.

What would have happened if Winston Churchill would have given in to his fears and given up hope that Allies would prevail? What would have happened if Martin Luther Jr. would have given into his fears and not shown up for his “I Have a Dream” speech?