Those much wiser than me have often stated that a great leader must be an avid reader. My colleague and friend, Ken Stibler, reiterated this point during a talk to one of my Vistage groups last week, which prompted me to write this blog. I firmly believe in the importance of daily professional reading and consistently advise my clients to do the same. Dedicating just 30-45 minutes a day to reading might sound like a big ask with the crazy schedules we all keep, but it’s pretty doable when you think about it in the grand scheme of things. And it’s absolutely essential.
Being at the top means you must have a solid foundation of knowledge. The decisions you make and the actions you take are only as good as the information they’re based on. And with the world changing at such a rapid pace, staying informed about issues that could impact your business is no longer optional—it’s critical.
What Should You Be Reading?
So, what’s on the reading list for a CEO or business owner? Here are my top picks:
- Industry-Specific Publications: Whatever your industry, there’s likely a journal or magazine for it. Find it, subscribe, and make it part of your daily reading.
- The Wall Street Journal: It’s part of my morning ritual. The front page alone can give you a good sense of the bigger picture, and if something catches my eye, I’ll dive deeper into that section.
- Your Local Business News: Keeping tabs on the local business scene can give you invaluable insights and, sometimes, a competitive edge.
- Must-Have Subscriptions:
- Harvard Business Review: It’s akin to the Bible for business leadership and management. I strive to read it thoroughly before the next issue is released.
- MIT Sloan Management Review & McKinsey Quarterly: For the latest in innovation and strategic thinking, these are unbeatable.
- Vistage International’s Perspectives: Always full of useful insights for business leaders.
- Online Resources: Websites like Knowledge at Wharton and Kellogg Insight are part of my regular browsing for fresh perspectives and ideas.
- Specialty Publications/Resources: Depending on your expertise, subscribing to niche publications can keep you sharp in your specific field (e.g., HR Magazine – SHRM, CFO Magazine, Marketing Week, etc.)
Beyond Books and Articles
It’s also super helpful to set up Google Alerts for your main clients, partners, and even competitors, especially if they’re publicly listed. This keeps you on your toes, alert to what’s happening around you.
As you advance in your career, your role shifts from executing tasks to engaging in critical thinking and strategic planning. You can hire people to handle the day-to-day tasks, but who is responsible for understanding the broader business environment and making strategic decisions? That’s on you. And you can’t rely on past experiences or gut instinct for that. Being well-read and informed is non-negotiable if you want your business to thrive and stay ahead of the curve.
In short, reading daily is one of the best investments you can make in yourself and your company’s future.