Know What Matters: Lessons from a Lifetime of Transformation
Ron Shaich
Harvard Business Review Press (October 2023)
“If everything matters, nothing matters.” Harris Johnson
I again remembered my Uncle Harry’s observation as I began to read this book. He realized that sufficient food, shelter, and clothing matter to all human beings as does sufficient oxygen. His point, obviously, is that it is important — for him, it was imperative– to establish priorities and then focus on what matters most.
That is one of Ron Shaich’s key points as he shares lessons he learned “from a lifetime of transformation.” For example, “When people ask me the secret of my success [founder and former Chairman and CEO of Panera Bread and of Au Bon Pain and is the current Chairman and lead investor in Cava, Tatte, Life Alive, and Level99, and father of the Fast Casual restaurant industry], I often say it comes down to three things I’ve been able to do: 1. Tell the truth, 2. Know what matters, and 3. Get the job done. To me, these three steps are the essence of transformation.”
Throughout his lively and eloquent narrative, Shaich strategically inserts sets of what what he characterizes as “Ron’s Rules” for Knowing Your Means, Ends, and By-products (Paged 18); Adult Management (82); Growth (92); Gaining and Maintaining Competitive Advantage (123);Dealing with Activist Investors (136); Identifying Key Initiatives (141); Creating a Master Calendar (144); Meaningful Metrics (145); Smart Cost Management (147); People Management (155); and Scheduling “Meaning-Making” Meetings (160).
As I worked my way through Know What Matters, I was again reminded of this portion of Don Schlitz’s lyrics for The Gambler, a song made famous by Kenny Rogers:
“You’ve got to know when to hold ’emKnow when to fold ’emKnow when to walk awayAnd know when to runYou never count your moneyWhen you’re sittin’ at the tableThere’ll be time enough for countin’When the dealin’s done.”
Let’s have Ron Shaich provide the concluding thoughts to this brief commentary of mine: “I’ve always said, I go to work to learn about life. The most important lessons I’ve learned and continue to learn are as much about life well lived as they are about doing business, because for me, the two are inextricable. They are always applicable to politics and civic society, and to any type of organization, large or small, that seeks to make a difference.”