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Summary Of Patrick Bet-David’s Your Next Five Moves

Master the Art of Business Strategy

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Contents

Disclaimer
1. Introduction
2. Move One: Know Yourself
Chapter One: Who Do You Aspire to Become?
Chapter Two: Study “You”
Chapter Three: Are You An Intrapreneur or an Entrepreneur?
1. Move Two: Learn To Reason
Chapter Four: Processing Issues Is Your Superpower
Chapter Five: The Solve For X Method
1. Move Three: Build The Right Team
Chapter Six: You Won’t Stay Solo Forever
Chapter Seven: Build a Principles-Driven Company
Chapter Eight: The Power Of Trust
1. Move Four: Scale Your Business
Chapter Nine: How To Achieve Exponential Growth Through Scaling
Chapter Ten: Use Momentum The Right Way
Chapter Eleven: Design Systems To Keep Track Of Your Business
Chapter Twelve: Adopt An Urgency Mindset
1. Move Five: Beat Your Competition
Chapter Thirteen: How to Beat Business Giants Or Goliaths
Chapter Fourteen: Sell, Negotiate, and Influence Like Mobsters
Chapter Fifteen: How To Always Have The Upperhand

Disclaimer

This is a summary of Bet-David’s Book Your Next Five Moves: Master the Art of Business Strategy. This summary is not meant to replace in any capacity the original book, but to deepen the reader’s comprehension.

Introduction

The author compares successful entrepreneurs to chess masters, specifically focusing on the strategic thinking of Magnus Carlsen, a chess grandmaster, and Elon Musk, an entrepreneur. Both share the ability to think ahead, anticipate reactions, and prepare meticulously.

According to Bet-David, effective business strategy requires thinking beyond the initial move. The author believes that most people only think one or two moves ahead, which is not enough for success in business. By using examples from different fields, the author emphasizes the importance of strategic thinking, especially in anticipating reactions and implementing a series of moves that are difficult to counteract.

Bet-David firmly believes that anyone can achieve success in business by following his formula, no matter where they come from. His five moves offer valuable insights and essential skills necessary to thrive in the business world.

Let’s explain each of these moves in detail.

Move One: Know Yourself

Chapter One: Who Do You Aspire to Become?

Ask Deep Questions To Know What You Truly Want

Understanding yourself is incredibly important because without that self-awareness, nothing really holds much meaning. When CEOs or founders approach Bet-David for advice, he always starts by asking them individual questions to understand their aspirations before offering any advice, as he believes people are different and everyone has his own beliefs and goals and should be offered advice tailored to him or her only. That’s why it’s essential to know what motivates you and who you aspire to become. And don’t worry. It’s perfectly fine if you don’t have all the answers right away; self-discovery is a journey that takes time.

The fundamental question you need to ask yourself is: Who do you want to become? The purpose of asking yourself this question constantly is to help you identify your priorities and create a strategy that aligns with your passion and vision.

Take the time to clarify your story and vision, as this clarity will become your strength during challenging times in business. Those inevitable moments of difficulty require a strong sense of deep self-awareness to navigate through them successfully.

Pain Is Inevitable. Make It Your Fuel

In 1999, when he was just twenty years old and full of ambition, Bet-David had big plans for his future. Fresh out of the army, he wanted to become the next Mr. Olympia, marry into a famous family, pursue acting, and even govern California. To kickstart his plan, he landed a job at a local gym and worked tirelessly to climb the ranks. His goal was to secure a weekend manager position in Hollywood, but life had other plans for him.

After successfully turning around a struggling gym in Chatsworth, his supervisor, Robby, went back on his word and asked him to stay for another six months instead of promoting him to the promised position. Frustrated and angry, he made the difficult decision to quit on the spot. Many people thought he was crazy, but he knew he had to stay true to himself.

That night, as he lay in bed, he contemplated who he truly wanted to be and where he wanted to go in life. He made a list of his priorities, which included honoring his parents by making the name Bet-David meaningful, working with trustworthy leaders who keep their promises, having a clear path to success based on merit, building a reliable team with a shared vision, attaining financial independence, and learning strategies to navigate corporate challenges.

With these priorities in mind, he eventually found a sales job that aligned perfectly with his values. Looking back now at all those challenging times he went through, he realizes that true clarity comes from making decisions that align with your beliefs. It has been twenty years since then, and he confidently says that staying true to himself and making strategic moves has led him to success.

Use Your Haters And People Who Doubted You As Drive

Bet-David shared that story about being denied a promotion because he wants his readers to realize the incredible power of pain in driving yourself forward. Moments of feeling powerless, angry, or sad can uncover your deepest motivations. Elon Musk faced disapproval from his father when he left South Africa at seventeen, and Barbara Corcoran, a highly successful real estate mogul, transformed rejection into determination when her ex dumped her and doubted her abilities to succeed. She embraced her fury and used it as her greatest ally to build a thriving business.

Take a moment to reflect on those who have put you down—teachers, coaches, bosses—and harness that negativity as rocket fuel. Corcoran transformed rejection into triumph, and as an investor, she seeks out individuals who are driven by their own pain. Growing up in poverty is viewed as an advantage. Pain can either be your excuse or your powerful source of motivation. Even after retiring, Michael Jordan spoke about his critics and doubters in his Hall of Fame induction speech, using his pain as a driving force. Musk, Corcoran, and Jordan all transformed challenging moments into fuel, and you have the ability to do the same. Remember your toughest times, and use those experiences as your ultimate source of motivation.

Figure Out Your Role

There are plenty of roles to choose from in business. You just have to choose a role that allows you to showcase your strengths best. Do you want to be a founder, CEO, chief strategy officer, sales leader, or perhaps something else?

We often hear about the glamorous life of entrepreneurs in news headlines and wish we could have the same lifestyle, but there is more to entrepreneurship than just luxury holidays and supercars and it might not even be the right fit for you. Don’t worry, there are still plenty of ways for you to earn money and find fulfillment even if you are not an entrepreneur. We’ll get into these later. For now, start by figuring out what role truly suits your personality, goals and beliefs.

Being an entrepreneur can be risky, but it can also bring significant rewards both personally and financially. You may not always be home at dinner or be there for your kids and spouse all the time, but you’ll have plenty of money that you could invest in family vacations to make up for the time you spent away from them.

Live Your Future Truth

Bet-David has a phrase he lives by - Future Truth, which means living in the present as if your future has already become a reality. Let’s say you have just started a company and your goal is to make it successful. First, have a clear vision of what the company would look like once it became a success. Then, think about the actions the company needs to take to achieve that vision. Now start implementing those actions in the present moments. That’s how you embody your Future Truth before it even materializes, you align your present actions with your future vision.

Always ask yourself: do I truly know who I aspire to become? And does my present behavior align with my future truth?

What Would Your Role Model Do?

Everytime you face a challenging situation, pause for a moment and ask yourself, what would my role models do in this situation? Bet-David believes that asking yourself this question encourages introspection and thoughtful decision-making. It also challenges you to aim for greatness.

Bet-David has a painting he hangs up in his office, which he titled “Dead Mentors.” The painting features influential figures from various fields, such as Albert Einstein, John F. Kennedy, and Tupac Shakur. When he is in the office, he always turns to them for guidance on matters of economics, competition, strategy, politics, and personal growth. The painting serves as a constant reminder to embody heroic

Impressum

Verlag: BookRix GmbH & Co. KG

Tag der Veröffentlichung: 24.12.2023
ISBN: 978-3-7554-6473-0

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