July 2021 - Quarterly Market Letter
On behalf of the team at 5, I am pleased to forward our market letter for the second quarter of...
Shared experiences drive deep human connection in the workplace. 5’s book club is one of the most impactful ways that we orchestrate these meaningful moments for our team. When we gather to review, discuss, and debate each new book, we begin to form a unique vernacular and a deeper understanding of each other’s perspectives. Our conversations, about the book and subsequently about our business, create new avenues for organizational development and personal fulfillment.
Check out our list of suggested books and plan to join us for our ongoing book club discussions by scrolling to the bottom of the page.
Tribal Leadership – The unique name of our company, 5, comes directly from Tribal Leadership and our effort to create a Level 5 Tribe that transcends competition by competing instead with “what’s possible.” Our language and our relationships dictate where we are in the hierarchy of tribal development and thriving cultures should strive to move from a protective mindset to a place of partnership that promotes human flourishing.
Conscious Capitalism – This book is part of an important movement that promotes conscious leadership, a stakeholder orientation (rather than shareholder focus), and the belief in a higher purpose for our companies. 5 is proud to be corporate partners in the Conscious Capitalism Dallas Chapter and an active participant in supporting and promoting other purpose-driven companies that are elevating humanity through business.
Powerful – Defining culture can be difficult for most organizations but Patty McCord, former Chief Talent Officer at Netflix, provides a practical guide of the steps Netflix undertook to pivot, empower, grow, and succeed. Her definition of culture is our favorite – "Culture is the strategy of how you work."
The Speed of Trust – In order to build a culture of open and honest communication where safety and vulnerability meet to create innovation, trust needs to be present in every interaction. Unfortunately, many have been trained to create arbitrary hurdles to trust instead of filling the relationship bank with trust deposits every day.
It’s Your Ship – When Navy Captain Mike Abrashoff took over the USS Benfold, he slowly but surely turned the ship’s culture around by first meeting one-on-one with every sailor on board and asking for their suggestions to improve the ship. “It’s your ship” became the mantra and the reality for his crew as they were recognized as a standard for excellence and empowerment throughout the Pacific fleet.
Cowboy Ethics – James P. Owen could easily see that Wall Street has a lot to learn from the unwritten rules of the American cowboy. He compiled those rules, The Code of the West, to inspire businesses and organizations to talk less and say more, to be tough but fair, and to remember that some things are not for sale. Cowboy Ethics is 5’s employee handbook.
Delivering Happiness – Tony Hsieh, then acting CEO of Zappo’s, crafted this organizational culture-building classic in less than 3-weeks and the results are legendary. It is rare to see a person with such a successful track record share their own journey and views with such incredible vulnerability and lack of ego. Tony’s overview of profits, passion, and purpose has inspired our company and countless others to think differently about how the pieces fit together.
The One Thing – As co-founder of Keller Williams Realty, one of the most successful real estate companies in America, Gary Keller shares the surprisingly simple truth behind the extraordinary results his team achieved. Gary helps readers to ask the question “what’s the one thing I can do such that by doing it, everything else will be easier or unnecessary?” This concept can be a struggle for many and leads to some great team debates about the 80/20 rule, time blocking, and the need for balance.
Good to Great – The most classic business book on this list, Good to Great, is always the first book we suggest that a team reads together. When a company starts talking about hedgehogs, flywheels, and level 5 leadership, the team begins to grow in the same direction with newfound ownership and creativity.
Would you like to join our book club? Register for the upcoming discussion on the book Culture Code, scheduled for Thursday, August 19th, from 8:00AM - 9:00AM CST. Contact Us to receive your invitation and be sure to read or listen to the book in advance. High 5.