End of An Era—Barrel Partners Book Club

Borrowed & Learned

I was in NYC on Thursday for another quarterly Barrel Holdings in-person session, which always begins with a Barrel-focused meeting among the partners. In preparation for these meetings, we read one, sometimes two, books and use our time in person to discuss the concepts and ideas outlined in the book, exploring how they relate to us personally and in our work at Barrel.

With me moving into the Barrel CEO role and Co-Founders Peter and Wook focusing on Barrel Holdings, Thursday's meeting marked the last of its kind—the end of an era for the Barrel partners. It was bittersweet. While the change signals the start of a new chapter of growth and learning, I'll miss the book club the Barrel partners and I have had together for the past seven years.

When individuals commit to regularly consuming and discussing the same material together, a special level of alignment forms within the group. We experienced this among the partners quarter after quarter. I've also seen the same effect when reading books with Dana, more recently in preparation for our new roles as parents.

I see it akin to making regular deposits in a high-yield savings account—the concepts and discussions from every book compound into the next gaining interest in the form of lessons and insights, leaving us with a growing bank of shared ideas and vocabulary to pull from in our experiences.

Our book club discussions often became quite intimate, going beyond the usual day-to-day conversations into everything from dynamics with family and friends to challenges we face in our various life roles, including at Barrel. While reading the same material helped create alignment in our mindset and language, these discussions helped us put everything out on the table and better get to know each other on a deeper level, creating a stronger sense of personal connection and understanding.

At the same time, reading books together didn't mean we always interpreted concepts the same way or agreed with the perspective. In many ways, it's as if we invited new people into our leadership team every quarter in the form of each book's author(s) to challenge us and expand our thinking. Like hiring a consultant, we'd spend hours with each author individually and then do a group session. I enjoyed the healthy tension of these debates, pushing us into new territories and topics.

As this chapter (no pun intended) closes, I’m considering how we can keep this kind of discourse alive in our team, especially among our leaders.

Outside our quarterly books, reading has become an essential part of my life and routine. Committing to the habit is probably the activity I credit most for my growth over the last several years—whether it’s being a partner to Dana, becoming a dad, or leading the team at Barrel. Ultimately, it's become integral to my journey to be better and realize my potential.

Part of my job at Barrel is to take the concepts I find applicable to the team and present them in a relevant and inspiring way. However, nothing beats having folks read the same material firsthand and bring their unique interpretations to the table — I find this leads to the best results and outcomes as a team and as people.

Here are the two books we read this quarter:

2x Is Easier Than 10x: How World-Class Entrepreneurs Achieve More by Doing Less by Benjamin Hardy and Dan Sullivan

The premise of this book is that most people aim for 2x growth, making the pursuit of 10x growth less competitive. Reading this left me reflecting on my life and the times when taking a "10x jump" propelled me into new territory, despite the discomfort and sometimes, fear. I found this book inspiring and motivating, realizing I’m currently in the midst of a 10x jump in many aspects of my life. The key, as Hardy describes, is leaving behind the 80% that holds us back and prioritizing the 20% required to level up.

"10x is committing to your ambitious vision and making that vision your standard. You do this by locking into the 20 percent that will get you there and letting go of the 80 percent that got you here. ... Because 10x is qualitative and transformational, it’s also non-competitive. It’s not about you doing or being better than anyone else. Rather, you’re being increasingly unique and different from what everyone else is doing. Your work is innovative and distinct from what the masses of 2x’ers are up to. 10x quality and transformation is how you race to the top."

Implementing Value Pricing: A Radical Business Model for Professional Firms by Ron Baker

The concept of value pricing is very familiar to me and the partners, but this book feels like the definitive guide. Given our current efforts to redefine what we offer to our clients and how we collaborate with them, this book couldn’t have come at a better time. It advocates for moving away from hourly billing in the services business, arguing that this model is not beneficial for any party. Before reading this book, I had reached a similar conclusion, but this has given me a new level of excitement as we move forward and shape our future.

"[A] firm does not exist to be efficient, control costs, perform cost accounting, or give people fancy titles and power over the lives of others. It exists to create results and value outside of itself. This profound lesson must not be forgotten. ... When you make hours important, then the customer is bound to focus on hours, rather than on value."

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Special thanks to Barrel co-founder Peter for curating the books over the past seven years and selecting discussion topics that sparked some unforgettable conversations. These sessions have left a lasting impact, providing invaluable insights and memories.

Thought

What activities might help build our collective knowledge and strengthen our sense of community within my team?