All right. So we are back. And this time we're taking a look at I'll make you an offer you can't refuse insider business tips from a former mob boss.
Now that is a title that definitely grabs your attention. It definitely does. Yeah.
I mean, who wouldn't be at least a little curious about what business lessons you could learn from a former mobster? Right. Especially one who made it onto Fortune magazine's list of the most powerful mafia bosses back in 86. That's right.
We're talking about Michael Franzese here. And it's pretty wild, his story. A former high ranking member of the Colombo crime family, deeply involved in a huge gasoline tax scam.
And then he just leaves it all behind in 94. Yeah. And it's pretty amazing what he did after he left the mob.
Motivational speaker and author. You're using what he learned in that life and applying it to, well, legitimate businesses. And this book is basically his take on how those experiences translate into advice for the rest of us.
And, you know, from what I've read, he really does try to bring those two worlds together, like comparing a Machiavellian approach with a more ethical Solomonic philosophy. Right. Exactly.
He's sort of trying to bridge the gap between the, let's say, unconventional tactics he used in the mob and the principles that guide ethical business practices. It's this interesting contrast, you know. Absolutely.
So I'm really curious to get your take on this. When you first picked up this book and saw it was from, you know, a former mob boss. What were your initial thoughts? Well, honestly, my first thought was is this a joke? I mean, can someone with that kind of background really offer legitimate business advice? But then as I started reading, I realized there were actually some really interesting insights buried in there.
OK. So what really stood out to you? Like, what were some of those aha moments? Well, one of the first things that grabbed me was his emphasis on having a clear business plan. He's very blunt about it.
He even says you can't hit a target you can't see. And, you know, that's something that resonates with anyone who's ever tried to build a business. Totally.
I mean, you need a road map, a strategy, or you're just wandering around in the dark. Yeah, exactly. But I think for Franzisi, coming from the world he did, it goes even deeper than that.
He's talking about a level of meticulous planning where every detail, every possible scenario is thought through in advance. Yeah. He's not just talking about jotting down a few ideas on a napkin.
He's talking about a really detailed almost military style plan. Right. And that might seem a little extreme for, say, someone opening a bakery or starting a small online business.
But the underlying principle is sound. You need to really think things through, anticipate challenges and have backup plans. You know, don't just hope for the best.
Be prepared for anything. And he doesn't stop there. He also talks about the importance of working incredibly hard, putting in those long hours, being totally dedicated.
Which, you know, these days we hear a lot about work life balance and all that. Right. Yeah.
And I don't think anyone's advocating for those 15, 18 hour days that he describes. I mean, that's not sustainable for most people. But what he's really getting at is the idea that success takes effort.
There are times when you need to buckle down and really put in the work, even if it means sacrificing some leisure time. Makes sense. It's about knowing when to push yourself and when to step back.
Right. Finding that balance. Exactly.
You can't be on all the time. But there are moments when that extra effort is what separates success from failure. He also talks about the idea of eliminating distractions and getting to what he calls the cash as efficiently as possible.
Right. Clear and easy path to the cash, I think, is how he puts it. And again, coming from his background, it might sound a bit ruthless.
Yeah. It sounds like, you know, cut out everything that isn't directly making money. Right.
Well, that's maybe simplifying it a bit. But the core idea is valid even in a legitimate business context. It's about focusing on your core objectives and cutting out anything that doesn't directly contribute to those goals.
So ruthless prioritization. It's about figuring out what's essential and what you can let go of. Right.
Absolutely. And that applies to everything. Tasks, projects, even relationships.
Interesting. Now, another thing that caught my attention was his advice on communication specifically. This idea of leading with your brain, not your mouth.
Right. He really emphasizes listening more than talking. He even quotes Proverbs saying even a fool is thought wise if he keeps silent and discerning if he holds his tongue.
And there's a lot of wisdom in that. You know, it really is. Because listening, truly listening, it gives you so much information.
Exactly. When you're really paying attention to what others are saying, you're not just waiting for your turn to talk. You're gathering information, understanding perspectives and figuring out how to respond in the most effective way.
And, you know, this goes hand in hand with another point he makes. The importance of controlling your ego. Yeah.
He talks about the strategic advantage of sometimes being underestimated, not always needing to be the loudest voice in the room. And I think there's a real power in that. It's almost like a form of stealth mode, isn't it? You can observe, analyze and then strike when the time is right.
Exactly. And sometimes just letting others think they have the upper hand can work to your advantage. Now, all of this really feeds into his discussion of what he calls the sit down, which is basically his term for negotiation.
And he's very clear. You need to be prepared. Go in with both gun barrels loaded, as he says.
Yeah. He stresses the importance of knowing your position inside and out, doing your research on the other party and having a clear understanding of your goals. So it's about having a strategy, knowing your limits and not being afraid to walk away if the deal isn't right.
Exactly. He even talks about the importance of sometimes accepting less to avoid a total loss, what he calls a tactical retreat. And that can be tough, especially if your ego is involved.
Yeah. But sometimes knowing when to cut your losses is the smartest move you can make. Absolutely.
It's about playing the long game, not just winning every single battle. Now, shifting gears a bit. Franzese also has some interesting things to say about gambling and its impact on business.
Right. And he's not talking about casinos or anything like that. He's talking about the dangers of gambling within a business itself, whether it's employees betting on sports or managers making risky financial decisions based on hunches.
And with online gambling so readily available now, I imagine that's a bigger concern than ever before. Oh, absolutely. It's incredibly easy for someone to get caught up in it.
And the consequences for a business can be severe. Lost productivity, financial problems, even legal issues. So what can businesses do to protect themselves? Well, for starters, they need to be aware of the risks, educate employees about responsible gambling, put clear policies in place and maybe even consider offering resources for those who might be struggling with a gambling problem.
Smart advice. It's about being proactive and recognizing the potential for harm. Exactly.
And that goes for so many aspects of running a business, right? You need to be aware of the risks, have a plan to mitigate them and be prepared to adjust course if necessary. Now, speaking of adjusting course, Franzese also talks about the importance of learning from failures. And he has this interesting take on it.
He actually says, if at first you don't succeed, quit. Don't be a damn fool about it. Right.
Which sounds a bit counterintuitive, doesn't it? But I think what he's really saying is that you need to know when to cut your losses. Failure can be a valuable learning experience. But only if you're willing to analyze it, identify the root causes and make changes based on what you've learned.
So it's not about giving up easily. It's about being smart about your efforts. Exactly.
Sometimes the smartest thing you can do is walk away from something that's not working and focus your energy on something that does. Now, one of the most surprising things about this book is that it emphasizes integrity, playing it straight, being honest in your dealings. And coming from a guy with his background, that's pretty unexpected, right? Yeah, it is.
He even quotes Proverbs again, saying, food gained by fraud tastes sweet to a man, but he ends up with a mouthful of gravel. And I think that speaks to a deeper understanding he's gained over time. He's seen the long term consequences of dishonesty.
And he knows that ultimately building a successful business requires trust and ethical behavior. So maybe it takes someone who's been on both sides of the law to truly appreciate the value of integrity. Perhaps.
And I think that's an important message for anyone in business, regardless of their background. Absolutely. You can't build a sustainable long term business on a foundation of lies and deceit.
Exactly. And this all ties into his discussion about choosing your business philosophy, whether you lean more towards a Machiavellian ends justify the means approach or a more ethical, Solomonic way of doing things. And he really stresses the importance of being consistent with whatever philosophy you choose.
Right. He's saying you can't just flip back and forth depending on what's convenient. You need to have a set of core values that guide your decisions and you need to stick to those values even when it's difficult.
Because ultimately, people can see through inconsistency, can't they? They can. And that can damage your reputation, your relationships and ultimately your success. Now, finally, he touches on something that I think is really important, especially in today's world.
The idea of redefining success beyond just profits. Right. He talks about the importance of personal fulfillment, positive impact and finding a sense of purpose in your work.
And he even quotes Proverbs one last time, saying he who pursues righteousness and love finds life, prosperity and honor. And, you know, that really resonates with me because at the end of the day, it's not just about how much money you make. It's about the legacy you leave behind.
Right. The impact you have on the world. Absolutely.
And more and more people are looking for that kind of fulfillment in their work. They want to feel like they're contributing to something bigger than themselves, something meaningful. So wrapping things up here.
What's your overall takeaway from I'll make you an offer you can't refuse? You know, I went into it with pretty low expectations, I have to admit. But I was actually really impressed by some of the insights he offers. It's a fascinating blend of hard nose tactics with a genuine appreciation for the importance of integrity, hard work and long term vision.
It's definitely not your typical business book, that's for sure. But it sounds like there's a lot to learn from it. I think so.
Yeah. It makes you think about things from a different perspective. And sometimes that's all it takes to spark a new idea or a different approach.
Well, I think that's a great place to leave it. Thanks for sharing your insights with us. My pleasure.
Always happy to dive into a good book, even if it comes from an unexpected source. And to everyone listening, if you enjoyed this Book Bites discussion, please remember to subscribe to our show so you don't miss out on future episodes. And if you really liked what you heard, please leave us a five star review.
It helps others find our show and join the conversation. Until next time. See you then.
