​Brief Summary

What They Don’t Teach You at Harvard Business School emphasizes the human aspects of running a business. Mastering these aspects is more important to a successful business than the bean-counting.Mark McCormack should know — he founded sports management agency IMG in 1960, acquiring numerous subsidiaries before finally selling IMG to management giant William Morris and Silver Lake Partners in 2013.

Favorite Quote from ​Mark H. McCormack

​To illustrate his emphasis on human nature, McCormack recounts the partnership between Burger King and Pepsi Cola.

None of Pepsi​’s data convinced Burger King to end its exclusive arrangement with Coca Cola. To move the needle, Pepsi began pointing out that both companies were #2 in their respective industries, behind McDonald’s and Coca Cola. If they partnered, Pepsi executives insisted, they could form a united front against two industry giants.By changing the story, Pepsi got Burger King to switch to them. Drawing inspiration from this story, McCormack uses interpersonal psychology to describe alternate approaches to sales, product quality, and company growth.

​Being salesy and chasing your clients won’t get you the result you want

​McCormack applies several principles of psychology to the art of sales, recommending first and foremost that the salesman challenge preconceptions.He recounts stories of several clients he approached who expected an aggressive sales pitch like other managers had given them.Instead, McCormack took the pressure off, praising the potential client and casually describing the strengths of his services. By defying their expectations to be chased, McCormack found high-profile clients often chased him instead.A key factor in the success of this method is being both personable and personal.By referencing a potential customer’s family, or work, or hobbies in a tone of genuine interest, a salesperson can establish a sense of trust that leads to fruitful business relationships.McCormack also emphasizes the need to back off and regroup if a sales interaction is not working, rather than burning the contact by persisting in a bad rapport. By keeping it friendly, the salesman can always re-approach the prospect with the timing is better.In business, rejection is never personal, but feelings of rejection can be repurposed to motivate a salesman to do better in the next interaction.

​Look for the right moment and learn when to stay quiet

​Timing can be everything in business​, as well as a cultivated restraint.Even a good idea could fail at a bad time.McCormack recalls his attempts to arrange a professional golf tournament in South America. All the fundamentals were there, including demand and logistics.However, an ill-timed currency devaluation leads to skyrocketing costs, and the endeavor fell apart. The idea was not flawed; it fell victim to events outside of control. The right call was to regroup and try again.McCormack’s expertise at sales also relies on knowing when to talk and when to be silent.Many salespeople undercut their sales by explaining all the upsides and downsides of a product.While this may seem forthcoming and ethical, in most circumstances there is no reason to highlight negatives of a product.Every product or service has strengths and weaknesses; the more important question is whether or not the product meets a customer’s needs. Emphasize that, and ignore the drawbacks when possible.

​Focus on product quality over company growth

​​Many companies grow as fast as they possibly can, seizing momentum at the expense of quality control. ​And this is a recipe for problems.Crafting a top-notch product or service in a sustainable way is the recipe for long-term success. That way, the value will be undeniable when presented to a new audience.McCormack points out that IMG exclusively represented golfers in the first six years. They nurtured the potential of up-and-coming clients, becoming experts in that field and renowned for effectiveness.The company could have branched into other verticals sooner, but by focusing on quality pro golf management, they put themselves in a stronger position to grow in the future while remaining a leader in their original field.McCormack even extends this argument to the quality of the entrepreneur’s life.Peak performance in business requires nurturing of hobbies and interests, not tunnel vision. He describes his system of scheduling his simple pleasures into an already busy day, emphasizing the importance of sticking to that schedule even in the face of the unexpected.

​What They Don’t Teach You at Harvard Business School ​Review

​Business schools are not meant to teach you everything about succeeding in the real world. Personal interactions and self-discipline are more important than raw data and excel sheets.Therefore, understand not only the flaws of others but also your own. If you focus on excellence and efficiency, you are sure to make your way to success that much clearer.

​​What They Don’t Teach You at Harvard Business School Summary: ​Action Step

​​Start ​observing people around more and more. Get better at reading their personality cues. Look at how they’re dressing and walking.  All these elements ​will tell you a lot about someone and give you a hint of the best way to approach them.

Details: Paperback, 288 pages | 3.66 average rating on Good Reads

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