Looking for a way to ignite motivation, and take command of your finances? Use the concepts of Extreme Ownership to take control of your individual and family finances right now.
Struggling to muster enough sustained motivation to materially change your individual and family financial situation? This book is easy to read, motivating, and provides great examples of and when we can all utilize the concepts of extreme ownership.
Below, are some of my favorite points from the book. This is exactly what the doctor ordered! Take charge of your life and your finances!
An Overview of Extreme Ownership in your Personal Finance Journey.
Jocko Willink and Leif Babin do an outstanding job with their book, “Extreme Ownership: How U.S. Navy SEALs Lead and Win.” They are both former Navy SEALs, and the book recounts their personal leadership experiences from the combat theatre, specifically the intense Battle of Ramadi (Iraq War).
The first book of a two-part series wastes no time in getting started and drawing readers in. The book is detailed, direct, and is unapologetic in presenting readers with battle-tested leadership principles from their time with Seal Team 3, Task Unit Bruiser.
Looking to pick up a copy? Check out their website, Echelon Front, (link, here) to order an autographed copy. (Note, I do not earn commission nor do I draw benefit from this link).
Resource Richness and Readability.
There are plenty of battlefield examples and business scenarios, and I appreciate the inclusion of both. The authors do well to translate the chaos of the combat they endured and the advanced training the SEALs complete in a way that we can all learn from. I will say, for all the accomplishments and formal recognition this unit received, the message in the book is conveyed with humlity and honesty.
That said, I think some of the business scenarios could have been condensed a little more, but that is only my opinion and not a strong criticism. Otherwise, this book is quite an enjoyable read.
Quality of Content.
The 12 Leadership Principles are thoroughly presented and backed up by myriad examples and studies on the matter. I didn’t find myself wondering “what do the authors mean by their points?” Vivid examples abound.
There is also a lot of action-oriented content for the readers. The umbrella of leadership expands to any walks of life, and finances are no exception; there is something here for everyone! Your family’s finances, as well.
The book reads well; I liked the stories and how well they supported the leadership lessons. However, as I mentioned earlier, about halfway through, I felt like I’d rather read more about the SEALs and a little less about the business examples.
Adaptability and Application in your Finances (and Life).
My friend, this is absolutely applicable and adaptable to everyday family finances. As I read this book, I kept thinking about my family and how my wife and I set the tone and example for our finances. Individually, and together.
As the authors reiterate: don’t make excuses – take extreme ownership. Get control of your ego; don’t hide from the truth. Take ownership of the good and the bad. When you take extreme ownership, you own the results, too. Then, lead. Lead yourself, and your team to victory.
How to use Extreme Ownership in your Money Matters.
I really like how simple and straightforward this approach can be. In my experience, putting it into practice has been a challenge. The tendency to use an excuse, however subtle, can quickly get in the way.
However, I have found this book to promote a tremendous sense of freedom, encouragement, and empowerment. It is a unique perspective, and I love it!
Developing Mêtis: this book will help get you there!
Think about your own personal finance journey, and the hurdles, barriers, or challenges that you have (or will yet have) encountered. Did they derail you, slow you down, or otherwise impede your progress? I know I have been there.
It is easy to be blocked by your own self! Don’t let the situation dictate the outcome. Use the concepts in this book, and “own” your progress in accomplishing your financial goals.
Concepts of Extreme Ownership – What does it mean?
As you have probably gathered, this concept is a pillar throughout the whole of the book. As a leader in any capacity, do not accept nor make excuses for what happens in your command. Instead of blame or excuses, “the leader must own everything in his or her world. There is no one else to blame.” This is a great mentality to adopt when dealing with your finances. Instead of commanding SEALs, you are commanding finances.
Looking for a video presentation of this? Here is a link to a TEDx talk I thought was helpful. It is a little over 10 minutes and really hooks you into the book!
Favorite Leadership Principles.
Within the book, there are three major sections: “Winning the War Within,” the “Laws of Combat,” and “Sustaining Victory.” Within each section are the individual leadership principles from which we can all draw benefit.
Three leadership lessons and principles I especially enjoyed are:
Extreme Ownership (Chapter 1)
Get rid of the ego, and with boldness and humility remember that when leaders begin to “take ownership of everything in their lives, they are compelled to take action to solve their problems.”
What a simple powerful truth! And, easy to remember. Again, this concept shows up throughout the whole book, so I’m only just scratching the surface in this review. You can accomplish more than you think!
Prioritize and Execute (Chapter 7)
Ever felt overwhelmed by a particular financial decision? With all of the options on the table and the pressure to get something accomplished, it can be easy to feel that way.
For that reason, I liked this chapter. When the chaos hits (and we all know it can and will when we least expect it) the authors’ points about staying calm, looking at the picture strategically, prioritizing, and then executing resonated well with me.
Additionally, as true with the high-performance culture of the SEALs, take time to train and prepare for likely scenarios in life. The example of an emergency fund comes to mind right away.
Decisiveness amid Uncertainty (Chapter 11)
Another one of my favorites in the book, this chapter talks about dealing with the “incomplete picture principle.” The points of making logical choices and taking action in combat situations with the best information available were underscored by yet another engrossing SEAL story.
If you think about it, none of us have “the whole picture,” nor do we have the guarantee of a perfect solution when we act. I agree with the authors’ reminder that waiting for 100 percent of the answer is waiting too long and is effectively inaction.
In my interpretation and application of this principle: we must take action based on our financial education, knowledge of our situation, and logical approach to our goals. For this to work, we must eye proactive in cultivating Mêtis in our Money Matters.
I noticed I was highlighting a lot of content as I read through this book. So much of it was practical, it was easy to see the concepts, and I wanted to capture it for review in the future. I hope they make a desk calendar with some of these quotes! At least for now, they do have a link for the “Jocko quotes database” which includes a “Quote of the day” feature. Stay motivated! Stay committed to your financial battles.
Parting Thoughts on Extreme Ownership.
This is a great book, and I think everyone should read it at least once. It met me where I was at, fired me up, and will be there as a resource to reflect upon as needed. I like that these are SEALs, battle-tested, “legit” warriors, too. It adds a valuable, different perspective which I think enhances the reader’s experience.
Value for the Price?
For this review, I purchased an ebook for about $15.00. I generally like to read for free through the library, or using points/ rewards first. However, I had heard such great reviews from friends and colleagues at work that I decided to jump in and purchase upfront.
I think the value is certainly there. Pick up a copy from the library and check it out for yourself! If you really like it (and I’m sure you will), consider supporting the authors (SEALs themselves) with a purchase.
Looking for more?
Teamwork in your Money Matters!
I also want to make sure and point out how important a good team is (probably obvious given the context of the SEALs). Everyone knows their part, and everyone gets after the job and task at hand. At the same time, everyone is counting on the next person in the team to do their jobs well. Lives depend on it.
In a similar way, ask yourself what you and your family can do to divide and conquer. Are there strengths you could offer the family unit? What about empowering your spouse in their strengths? Regardless, take extreme ownership: together, you are much stronger.