Those who religiously follow my column will know that over the last six years I've reviewed business books written by all sorts of people including billionaires, academics, economists, military leaders, politicians, TV presenters and sports stars; but never by the clergy; until now.
The "Business Secrets of the Trappist Monks" outlines how such an unlikely group have built a successful business empire, with minimal management oversight. The author, August Turak is a successful entrepreneur - who sold two software companies for $150 million - and attributes his success to working alongside the Trappist monks of Mepkin Abbey in the U.S. for seventeen years. These monastic entrepreneurs have developed an incredibly successful portfolio of booming businesses including 3,200 acres of land, a gift shop, library, conference center, with business interests in timber, fertilizer, mushrooms and eggs. It's literally a case of not keeping all your eggs in one basket!
August was impressed by their business-like approach with everything geared towards profitability and efficiency; two key lessons for any Bahamian business. The mantra of service and selflessness are at the heart of this millennium old monastic success and this ancient economic model is demonstrated using instructive case studies on how these ideas can be applied to any Caribbean business. The author shows how Trappist principles are successful, not despite the monks high religious principles, but because of them and key lessons include:
o Always honor your promises as customers will use these to gauge your reliability.
o Success correlates with your willpower and self-control which are virtues that are essential to any management discipline.
o Never under-commit and over-deliver. Only make promises that you know you will be able to keep or risk losing respect and credibility.
o Protect your personal image and always ask yourself, "How will this decision affect my personal brand?" In the long run, your reputation is your most valuable asset.
For those of you praying for a more ethical approach to management, this book provides an intriguing alternative, with the ethos being that good business in based on avoiding bad 'habits' - sorry about the pun.
o "Business Secrets of the Trappist Monks: One CEO's Quest for Meaning and Authenticity" by August Turk and published by Columbia University Press.
By Keith Appleton
Keith Appleton JP, BA (Hons), N.Dip.M, MInstLM has extensive experience within an academic, managerial and strategic leadership role. He is a member of the UK Institute of Leadership & Management and can be contacted at KeithAppleton@Hotmail.co.uk.
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