Swim With The Sharks Without Being Eaten Alive

By Harvey Mackay

Swim With The Sharks Without Being Eaten Alive is Harvey Mackay's classic business book and one of my personal favorites. Each business lesson is only about one and a half pages long, so you don't need a shark's appetite to gobble it down.

Some of my favorite Mackay lessons:

-- The most important clause in a contract isn't a clause. It's dealing with honest people.

-- Mackay's Dad's advice: "It doesn't matter how many pails of milk you spill, just so you don't lose the cow." (Mackay's from Minnesota where business advice is often phrased in terms of cows. Often entrepreneurs make mistakes that cost them money, but that's not as bad as making a mistake that destroys the company. Don't be afraid to be creative and test things to find out what works best. Non-Minnesotans can think goose and golden egg. Mackay says that for the first five years after purchasing a small, struggling envelope manufacturing company with a revenue of $200,000, he "...teetered between bankruptcy and insanity." But, he didn't lose the cow. Today, Mackay Envelope has a revenue of about $85 million, if I recall correctly.)

--Know something about your customer as well as your product. Mackay does an excellent job here. He develops the Mackay 66 which is a profile of your customers. It asks such things as: What are your customer's hobbies? Interests? Political and religious orientation? Knowing the customer is important in relating to him or her.

Mackay says the same principle is crucial to establishing contacts with influential people. Learn something about the person, so you have an idea of their hobbies, interest, values, etc. Then, you'll know what hot buttons interest them. And, what topics to avoid.

For example, many, many, many years ago, when Mackay met Fidel Castro, Mackay asked Fidel how he kept in great shape. Castro, who prided himself on his physical prowess, told Mackay he was an active bowler. (Note to bowlers: Take up jogging. Give up the cigars.) When, Mackay told Castro that he was a champion bowler in college, Castro became excited to have met someone who shared a similar interest.

--Believe in yourself. Mackay, an avid sports fan, discusses runners first achieving the four-minute mile. Many people believed that running a four-minute mile was impossible (for me, it is!), but after the first runner achieved it and showed it could be done, many other runners broke the four-minute mile, until doing so was necessary to be competitive.

--Never give a speech once. Practice it in front of a test audience. That way you'll find out what jokes bomb and can cut them. Mackay is considered one of the very best public speakers in the world, and he gives some advice about public speaking in this book.

Speaking and communication are valuable business skills. Mackay writes: "Learn to use the language. Written and spoken. Anyone who's a word dink has got it made." We word dinks like that! Although I'm not so sure it's fully true for everyone. But, at something over $20,000 per pop for a speech, with a nationally-syndicated small business column, and over eight million books sold, dinking around with words certainly hasn't hurt Mackay.

Mackay writes: "Like most salespeople, I've spent a lifetime trying to build a network of customers and friends... . There are two ways to do it: retail and wholesale. Retail means the one-at-a-time kind of contacts that are built up through participation in community and social activities. Wholesale means the recognition, and acceptance, extended by people who don't know you personally but who have heard about you as a speaker, read your articles, or read about your civic activities in the paper."

This is the sort of book I like to reread every few years. I highly recommend it to entrepreneurs and people interested in business. Salespeople, negotiators, and avid sports fans will enjoy it the most.