Post on 02-Jan-2016
LONGLONG
Tom Peters’Tom Peters’
Re-ImagineRe-Imagine
EXCELLENCEEXCELLENCE!!e-town Festivale-town Festival
Edmonton Economic DevelopmentEdmonton Economic DevelopmentEdmonton/12 September 2014Edmonton/12 September 2014
(For more see tompeters.com and our fully annotated 23-part Master (For more see tompeters.com and our fully annotated 23-part Master Compendium [Mother of All Presentations] at excellencenow.com)Compendium [Mother of All Presentations] at excellencenow.com)
BE THE BEST.BE THE BEST. IT’S THE ONLY IT’S THE ONLY MARKET THAT’S MARKET THAT’S NOT CROWDED.NOT CROWDED.
-1/+1-1/+1
S&P 500S&P 500
+1/-1*+1/-1*
*Every …*Every … 22 weeksweeks!!Source: Richard Foster (via Rita McGrath/Source: Richard Foster (via Rita McGrath/HBRHBR/12.26.13/12.26.13
“I am often asked by I am often asked by would-be entrepreneurs would-be entrepreneurs seeking escape from life seeking escape from life within huge corporate within huge corporate structures, structures, ‘How do I build a small firm for myself?’ The answer The answer
seems obviousseems obvious … …
Source: Paul Ormerod, Why Most Things Fail: Evolution, Extinction and Economics
“I am often asked by would-be entrepreneurs seeking escape from life within huge corporate structures, ‘How
do I build a small firm for myself?’ The answer seems
obvious: BuBuyy a ver a veryy larlarggee
one and one and jjust ust waitwait.”.” —Paul Ormerod, Why Most Things
Fail: Evolution, Extinction and Economics
““Mr. Foster and his McKinsey colleagues Mr. Foster and his McKinsey colleagues collected detailed performance data stretching collected detailed performance data stretching
back back 4040 years for years for 1,0001,000 U.S. companies. U.S. companies. TheTheyy found that found that
NONENONE ofof
the lonthe longg-term survivors mana-term survivors managged ed to outto outpperform the market. Worse, erform the market. Worse, the lonthe longger comer comppanies had been in anies had been in
the database, the worse thethe database, the worse theyy did did.”.”
—Financial Times—Financial Times
THETHE RED RED CARPET CARPET STORESTORE
(Joel Resnick/Flemington NJ)(Joel Resnick/Flemington NJ)
1,6001,600 cheesescheeses
1,4001,400 varieties of hot saucevarieties of hot sauce
12,00012,000 wines priced fromwines priced from
$8 to $8,000 a bottle$8 to $8,000 a bottle
6,0006,000 Christmas ornamentsChristmas ornaments
50,00050,000 trims trims
PASSIONPASSION
RETAIL SUPERSTARS: INSIDE THE 25 BEST INDEPENDENT RETAIL SUPERSTARS: INSIDE THE 25 BEST INDEPENDENT STORES IN AMERICASTORES IN AMERICA—George Whalin—George Whalin
JUNGLE JIM’S INTERNATIONAL MARKET, FAIRFIELD, OH:JUNGLE JIM’S INTERNATIONAL MARKET, FAIRFIELD, OH: ““An adventure in ‘shoppertainment,’ begins in the parking lot and An adventure in ‘shoppertainment,’ begins in the parking lot and
goes on to goes on to 1,6001,600 cheeses and, yes, cheeses and, yes, 1,4001,400
varieties of hot sauce—not to mention 12,000 wines priced from varieties of hot sauce—not to mention 12,000 wines priced from
$8-$$8-$8,0008,000 a bottle; all this is brought to you a bottle; all this is brought to you
by by 4,0004,000 vendors. Customers come from every corner vendors. Customers come from every corner
of the globe.”of the globe.”
BRONNER’S CHRISTMAS WONDERLAND, FRANKENMUTH, MI, BRONNER’S CHRISTMAS WONDERLAND, FRANKENMUTH, MI,
POP 5,000POP 5,000:: 98,000-square-foot “shop” features 98,000-square-foot “shop” features 6,0006,000
Christmas ornaments, Christmas ornaments, 50,00050,000 trims, and anythingtrims, and anything
else you can name pertaining to Christmas.else you can name pertaining to Christmas.
Retail Superstars: Retail Superstars: Inside the 25 Best Inside the 25 Best
Independent StoresIndependent Storesin Americain America —by George Whalin—by George Whalin
Jim’s MowingJim’s MowingJim’s AntennasJim’s Antennas
Jim’s BookkeepingJim’s BookkeepingJim’s Building MaintenanceJim’s Building Maintenance
Jim’s Carpet CleaningJim’s Carpet CleaningJim’s Car CleaningJim’s Car Cleaning
Jim’s Computer ServicesJim’s Computer ServicesJim’s Dog WashJim’s Dog Wash
Jim’s Driving SchoolJim’s Driving SchoolJim’s FencingJim’s FencingJim’s FloorsJim’s Floors
Jim’s PaintingJim’s PaintingJim’s PavingJim’s Paving
Jim’s Pergolas [gazebos]Jim’s Pergolas [gazebos]Jim’s Pool CareJim’s Pool Care
Jim’s Pressure CleaningJim’s Pressure CleaningJim’s RoofingJim’s Roofing
Jim’s Security DoorsJim’s Security DoorsJim’s TreesJim’s Trees
Jim’s Window CleaningJim’s Window CleaningJim’s WindscreensJim’s Windscreens
Etc.*Etc.*
*1982/3,200+ franchises/$300M+/*1982/3,200+ franchises/$300M+/“world’s largest home services franchise business”“world’s largest home services franchise business”/ / Mooroolbark, VictoriaMooroolbark, Victoria
Sources: Jim Penman, What Will They Franchise Next? The Story of Jim’s Group; Management Today; Business Review WeeklyManagement Today; Business Review Weekly; etc.; etc.
The Magicians of The Magicians of MotuekaMotueka (PLUS) (PLUS)!!
W.A. Coppins Ltd.*W.A. Coppins Ltd.*(Coppins Sea Anchors/(Coppins Sea Anchors/PSA/para sea anchors)PSA/para sea anchors)
*Textiles, 1898; thrive on *Textiles, 1898; thrive on “wicked problems”“wicked problems”——e.g., e.g., U.S. NavyU.S. Navy STLVAST (Small To Large Vehicle At Sea STLVAST (Small To Large Vehicle At Sea
Transfer); custom fabric from Transfer); custom fabric from W. WiW. Wiggggins Ltdins Ltd./Wellington ./Wellington
(specialty nylon, “Dyneema,” from (specialty nylon, “Dyneema,” from DSMDSM/Netherlands)/Netherlands)
Going “Social”: Location and Size IndependentGoing “Social”: Location and Size Independent
““Today, despite the fact that we’re jToday, despite the fact that we’re just a little swimminust a little swimmingg ppool comool comppananyy in Vir in Virgginiainia, we have the most trafficked , we have the most trafficked swimming pool website in the world. Five years ago, if swimming pool website in the world. Five years ago, if you’d asked me and my business partners what we do, you’d asked me and my business partners what we do,
the answer would have been simple, ‘We build in-ground the answer would have been simple, ‘We build in-ground
fiberglass swimming pools.’ Now we say,fiberglass swimming pools.’ Now we say, ‘We ‘We are the best teachersare the best teachers … … in the worldin the world … on the … on the subject of fiberglass swimming subject of fiberglass swimming
pools, and we also happen to build pools, and we also happen to build them.’”them.’”
——Jay Baer, YJay Baer, Youtility: Why Smart Marketing Is About Help, Not Hypeoutility: Why Smart Marketing Is About Help, Not Hype
Small (Small (EntrepreneurialEntrepreneurial) BUSINESS:) BUSINESS:
Training Inc.Training Inc. , a 14- , a 14-person unit* in a 50-person person unit* in a 50-person HR department in a $200M HR department in a $200M
business unit in a $3B business unit in a $3B corporation—aiming for corporation—aiming for
Excellence & WOW!Excellence & WOW!
**PSFPSF// Professional Service Firm (See my … Professional Service Firm (See my …
Professional Service Firm 50: Fifty Ways to Transform Your Professional Service Firm 50: Fifty Ways to Transform Your “Department” Into A Professional Service Firm Whose “Department” Into A Professional Service Firm Whose
Trademarks Are Passion and Innovation.Trademarks Are Passion and Innovation.))
““BE THE BEST. BE THE BEST. IT’S THE ONLY IT’S THE ONLY
MARKET THAT’S MARKET THAT’S NOT CROWDED.”NOT CROWDED.”
From: From: Retail Superstars: Inside the 25 BestRetail Superstars: Inside the 25 Best Independent Stores in America,Independent Stores in America, George Whalin George Whalin
““INSANELY GREAT”INSANELY GREAT”STEVE JOBSSTEVE JOBS
“RADICALLY THRILLING” “RADICALLY THRILLING” BMW
I love …I love … Middle-Middle-sized Niche- sized Niche- Micro-niche Micro-niche
Dominators!Dominators!
"Own" a niche through EXCELLENCE"Own" a niche through EXCELLENCE!!(Writ large: Germany’s MITTELSTAND)(Writ large: Germany’s MITTELSTAND)
Hilton’s Hilton’s Law …Law …
CONRADCONRAD HILTONHILTON, at a gala celebrating, at a gala celebrating his career, was called to the podium and his career, was called to the podium and
asked,asked, “What were the most important
lessons you learned in your long and
distinguished career?” His answer …His answer …
““Remember Remember to tuck the to tuck the
shower curtain shower curtain inside the inside the bathtubbathtub.”.”
““EXECUTION EXECUTION ISIS STRATEGY.”STRATEGY.”
—Fred Malek—Fred Malek
““COSTCO FIGURED OUT COSTCO FIGURED OUT
THE THE BIGBIG,, SIMPLESIMPLE THINGS THINGS
AND AND EXECUTEDEXECUTED WITH TOTAL WITH TOTAL
FANATICISMFANATICISM.”.”
—Charles Munger, Berkshire Hathaway—Charles Munger, Berkshire Hathaway
ExcellenceExcellence!!
Excellence1982: The Bedrock “EiExcellence1982: The Bedrock “Eigght Basics”ht Basics”
1. A Bias for 1. A Bias for ActionAction2. Close to the 2. Close to the CustomerCustomer3. 3. AutonomAutonomyy and and EntreEntreppreneurshireneurshipp4. Productivity Through 4. Productivity Through PeoPeopplele5. 5. Hands OnHands On, , Value-DrivenValue-Driven6. 6. Stick toStick to the Knitting the Knitting7. 7. SimSimpplele Form, Form, LeanLean Staff Staff8. Simultaneous 8. Simultaneous Loose-TightLoose-Tight PropertiesProperties
““Breakthrough” 82*Breakthrough” 82*
People! People! Customers! Customers!
Action! Action! ValuesValues! !
**In Search of ExcellenceIn Search of Excellence
““It may sound radical, unconventional, and It may sound radical, unconventional, and bordering on being a crazy business idea. bordering on being a crazy business idea. However— as ridiculous as it sounds—joy is However— as ridiculous as it sounds—joy is
the core belief of our workplace. the core belief of our workplace.
JoyJoy is the reason my company, is the reason my company,
Menlo Innovations, a customer software Menlo Innovations, a customer software design and development firm in Ann Arbor, design and development firm in Ann Arbor,
exists. It defines what we do and how we do it. exists. It defines what we do and how we do it. It is the single shared belief of our entire It is the single shared belief of our entire
team.”team.”
——Richard Sheridan, Richard Sheridan, Joy, Inc.: Joy, Inc.: How We Built a Workplace People LoveHow We Built a Workplace People Love
WSJ/0910.13:WSJ/0910.13: “What matters most “What matters most to a company over time? to a company over time?
Strategy or culture? Strategy or culture?
Dominic Barton, MD, McKinsey & Co.:Dominic Barton, MD, McKinsey & Co.:
“Culture.“Culture.””
ORGANIZATIONS ORGANIZATIONS EXISTEXIST TO TO SERVESERVE. .
PERIOD.PERIOD.
LEADERS LEADERS LIVELIVE TO TO SERVESERVE. PERIOD.. PERIOD.
““Why in the Why in the World did youWorld did you
go to go to SiberiaSiberia?”?”
EnterpriseEnterprise* (*at its best):* (*at its best): An An emotionalemotional, , vitalvital, , innovativeinnovative, , jojoyyfulful, , creativecreative, , entreentreppreneurialreneurial endeavor that elicits endeavor that elicits maximum maximum
concerted humanconcerted human potential in thepotential in the wholehearted pursuit of wholehearted pursuit of EXCELLENCE inEXCELLENCE in serviceservice of others of others.**
**Employees, Customers, Suppliers, Communities, Owners, Temporary partners**Employees, Customers, Suppliers, Communities, Owners, Temporary partners
LEADERSHIPLEADERSHIP
25/50/5/4/125/50/5/4/1
““I’m always stopping by our I’m always stopping by our
stores— stores— at least at least 2525
a weeka week.. I’m also in other I’m also in other
places: Home Depot, Whole Foods, Crate places: Home Depot, Whole Foods, Crate & Barrel. I try to be& Barrel. I try to be
a sponge to pick up as much a sponge to pick up as much as I can.”as I can.” —Howard Schultz—Howard Schultz
Source: Source: FortuneFortune, “Secrets of Greatness”, “Secrets of Greatness”
MBWAMBWA
MManaginganaging
BBy y
WWanderingandering
AAroundround
5050Source: Dov FrohmanSource: Dov Frohman
““Most managers spend a great deal of time thinking about what they plan to do, but relatively little time thinking about Most managers spend a great deal of time thinking about what they plan to do, but relatively little time thinking about what they plan not to do. As a result, they become so caught up … in fighting the fires of the moment that they cannot what they plan not to do. As a result, they become so caught up … in fighting the fires of the moment that they cannot
really attend to the long-term threats and risks facing the organization. So the first soft skill of leadership the hard way is really attend to the long-term threats and risks facing the organization. So the first soft skill of leadership the hard way is
to cultivate the perspective of Marcus Aurelius: avoid busyness, free up your time, stay focused on what really matters.to cultivate the perspective of Marcus Aurelius: avoid busyness, free up your time, stay focused on what really matters.
Let me put it bluntly: every leader Let me put it bluntly: every leader should routinely keep a substantial should routinely keep a substantial
portion of his or her time—I would say portion of his or her time—I would say
as much asas much as 5050 percent—percent—
unscheduledunscheduled.. … Only when you have substantial ‘slop’ in your schedule—unscheduled time—will … Only when you have substantial ‘slop’ in your schedule—unscheduled time—will
you have the space to reflect on what you are doing, learn from experience, and recover from your inevitable mistakes. you have the space to reflect on what you are doing, learn from experience, and recover from your inevitable mistakes. Leaders without such free time end up tackling issues only when there is an immediate or visible problem. Managers’ Leaders without such free time end up tackling issues only when there is an immediate or visible problem. Managers’
typical response to my argument about free time is, ‘That’s all well and good, but there are things I have to do.’typical response to my argument about free time is, ‘That’s all well and good, but there are things I have to do.’ Yet Yet we waste so much time in unwe waste so much time in unpproductive activitroductive activity—y—it takes an it takes an
enormous effort on the enormous effort on the ppart of the leader to keeart of the leader to keepp free time for the free time for the trultrulyy im impportant thinortant thinggss.”.”
——Dov FrohmanDov Frohman (& Robert Howard (& Robert Howard), Leadership The Hard Way: Why Leadership Can’t Be Taught—), Leadership The Hard Way: Why Leadership Can’t Be Taught—
And How You Can Learn It Anyway (Chapter 5, “The Soft Skills Of Hard Leadership”)And How You Can Learn It Anyway (Chapter 5, “The Soft Skills Of Hard Leadership”)
EXCELLENCE is EXCELLENCE is notnot a “long- a “long-term” "aspiration.”term” "aspiration.”
EXCELLENCE is the ultimate EXCELLENCE is the ultimate short-term strategy. short-term strategy.
EXCELLENCE is … THEEXCELLENCE is … THE
NEXTNEXT 55 MINUTESMINUTES..**
(*Or NOT.)(*Or NOT.)
EXCELLENCE is not an "aspiration." EXCELLENCE is not an "aspiration." EXCELLENCE is … THE NEXT FIVE MINUTES.EXCELLENCE is … THE NEXT FIVE MINUTES.
EXCELLENCE is your next conversation.EXCELLENCE is your next conversation.Or not.EXCELLENCE is your next meeting.EXCELLENCE is your next meeting.Or not.EXCELLENCE is shutting up and listening—really listening.EXCELLENCE is shutting up and listening—really listening.Or not.EXCELLENCE is your next customer contact.EXCELLENCE is your next customer contact.Or not.EXCELLENCE is saying “Thank you” for something “small.”EXCELLENCE is saying “Thank you” for something “small.”Or not.EXCELLENCE is the next time you shoulder responsibility and apologize.EXCELLENCE is the next time you shoulder responsibility and apologize.Or not.EXCELLENCE is waaay over-reacting to a screw-up.EXCELLENCE is waaay over-reacting to a screw-up.Or not.EXCELLENCE is the flowers you brought to work today.EXCELLENCE is the flowers you brought to work today.Or not.EXCELLENCE is lending a hand to an “outsider” who’s fallen behind EXCELLENCE is lending a hand to an “outsider” who’s fallen behind schedule.schedule.Or not.EXCELLENCE is bothering to learn the way folks in finance (or IS or HR) EXCELLENCE is bothering to learn the way folks in finance (or IS or HR) think.think.Or not.EXCELLENCE is waaay “over”-preparing for a 3-minute presentation.EXCELLENCE is waaay “over”-preparing for a 3-minute presentation.Or not.EXCELLENCE is turning “insignificant” tasks into models of … EXCELLENCE. EXCELLENCE is turning “insignificant” tasks into models of … EXCELLENCE. Or not.
““The The 44 most most
important important wordswords in any in any
organization are …organization are …
THE FOUR MOST IMPORTANT WORDS IN ANY ORGANIZATIONTHE FOUR MOST IMPORTANT WORDS IN ANY ORGANIZATION
ARE …ARE … “WHAT “WHAT DO DO YOUYOU THINK?”THINK?”
Source: courtesy Dave Wheeler, posted at tompeters.com Source: courtesy Dave Wheeler, posted at tompeters.com
““Employees who Employees who don't feel significant don't feel significant
rarely make rarely make significant significant
contributions.”contributions.” —Mark Sanborn—Mark Sanborn
““If there is any If there is any ONEONE ‘secret’ ‘secret’
to effectiveness, it is concentration. to effectiveness, it is concentration. Effective executives do first things first Effective executives do first things first
… … and they do and they do
ONEONE thing at a thing at a time.”time.” —Peter Drucker—Peter Drucker
You = Your You = Your calendarcalendar**
*The calendar *The calendar NEVERNEVER lies.lies.
Meetings are Meetings are #1#1 thing thing
bosses bosses dodo. Therefore, . Therefore, 100%100%
of those meetings:of those meetings: EXCELLENCE. EXCELLENCE. ENTHUSIASM. ENTHUSIASM. ENGAGEMENT. ENGAGEMENT.
LEARNING. TEMPO. LEARNING. TEMPO. WORK-OF-ARTWORK-OF-ART.. DAMNDAMN ITIT..
#1#1 CEOCEO Failing?Failing?
““If I had toIf I had to pick one failing pick one failing
of CEOs, it’sof CEOs, it’s that …that …
——Co-founder of one of the largest investment services firms in the USA/worldCo-founder of one of the largest investment services firms in the USA/world
“If I had to pick one failing of
CEOs, it’s that … they don’t read enough.”
“In my whole life, I have known no In my whole life, I have known no wise people (over a broad subject wise people (over a broad subject matter area) who didn’t read all matter area) who didn’t read all
the time—none. the time—none.
Zero. You’d be You’d be
amazed at how much Warren amazed at how much Warren [Buffett] reads—and how much I [Buffett] reads—and how much I
read.”read.”—Charlie Munger (Berkshire Hathaway)—Charlie Munger (Berkshire Hathaway)
Leadership By the NumbersLeadership By the Numbers
1818
““The doctor The doctor interruptsinterrupts after …*after …*
*Source: Jerome Groopman, *Source: Jerome Groopman, How Doctors ThinkHow Doctors Think
18 …18 …
18 … 18 … secondsseconds!!
(An (An obsessionobsession with) Listening is ... the ultimate mark with) Listening is ... the ultimate mark
of of RespectRespect..
Listening is ... the heart and soul of Listening is ... the heart and soul of EngagementEngagement..Listening is ... the heart and soul of Listening is ... the heart and soul of KindnessKindness..Listening is ... the heart and soul of Listening is ... the heart and soul of ThoughtfulnessThoughtfulness..Listening is ... the basis for true Listening is ... the basis for true CollaborationCollaboration..Listening is ... the basis for true Listening is ... the basis for true PartnershipPartnership..Listening is ... a Listening is ... a Team SportTeam Sport..Listening is ... a Listening is ... a Developable Individual SkillDevelopable Individual Skill.* .* (*Though women (*Though women are are farfar better at it than men.) better at it than men.)
Listening is ... the basis forListening is ... the basis for CommunityCommunity..Listening is ... the bedrock of Listening is ... the bedrock of Joint Ventures that workJoint Ventures that work..Listening is ... the bedrock of Listening is ... the bedrock of Joint Ventures thatJoint Ventures that growgrow..Listening is ... the core of Listening is ... the core of effective Cross-functionaleffective Cross-functional.. CommunicationCommunication* * (*Which is in turn Attribute #1 of (*Which is in turn Attribute #1 of organization effectiveness.)organization effectiveness.)
[cont.][cont.]
*8 of 10 sales presentations fail*8 of 10 sales presentations fail
*50% failed sales *50% failed sales
presentations … presentations … talkingtalking “at” before “at” before listening! listening!—Susan Scott, “Let Silence Do the Heavy Lifting,” chapter title, —Susan Scott, “Let Silence Do the Heavy Lifting,” chapter title, Fierce Conversations: Achieving Success at Work and in Life,Fierce Conversations: Achieving Success at Work and in Life,One Conversation at a TimeOne Conversation at a Time
Suggested Suggested Core Value Core Value #1:#1: “We are Effective “We are Effective
Listeners—we treat Listening Listeners—we treat Listening EXCELLENCEEXCELLENCE as the as the Centerpiece of our Centerpiece of our
Commitment to Respect and Commitment to Respect and Engagement and Community Engagement and Community
and Growth.”and Growth.”
““I always writeI always write ‘LISTEN’‘LISTEN’ on on the back of my hand the back of my hand before a meeting.”before a meeting.”
Source: Tweet viewed @tom_petersSource: Tweet viewed @tom_peters
LISTEN = “PROFESSION” =
STUDY = PRACTICE = EVALUATION =
ENTERPRISE VALUE
Are you a full-fledged “professional” when it
comes to helping?
33
““I regardI regard aappoloologgizinizing g as the as the most magical, healing, most magical, healing,
restorative gesture human restorative gesture human beings can make. It is thebeings can make. It is the
centercenterppieceiece of my of my work with executives who work with executives who
want to get better.”want to get better.”
——Marshall GoldsmithMarshall Goldsmith, What Got You Here Won’t Get You There: , What Got You Here Won’t Get You There: How Successful People Become Even More Successful. How Successful People Become Even More Successful.
Relationships (of all varieties): THERE ONCE THERE ONCE WAS A TIME WHEN A WAS A TIME WHEN A
THREETHREE--MINUTEMINUTE PHONEPHONE CALLCALL WOULD WOULD
HAVE AVOIDED SETTING OFF THE HAVE AVOIDED SETTING OFF THE DOWNWARD SPIRAL THAT DOWNWARD SPIRAL THAT RESULTED IN A COMPLETE RESULTED IN A COMPLETE
RUPTURE.RUPTURE.**
*divorce, loss of a BILLION $$$ aircraft sale, etc., etc.*divorce, loss of a BILLION $$$ aircraft sale, etc., etc.
THE PROBLEM IS THE PROBLEM IS RARELY/RARELY/NEVERNEVER THE THE
PROBLEM. THEPROBLEM. THE
RESPONSERESPONSE TO THE TO THE PROBLEM INVARIABLY PROBLEM INVARIABLY ENDS UP BEING THE ENDS UP BEING THE
REAL PROBLEMREAL PROBLEM.***PERCEPTION IS ALL THERE IS!PERCEPTION IS ALL THERE IS!
PeoplePeoplePeoplePeople
PeoplePeople PeoplePeople
PeoplePeople
1/4,0961/4,096
““Business has to Business has to give people give people enriching, enriching,
rewarding lives …rewarding lives …
1/4,096: excellencenow.com1/4,096: excellencenow.com
““Business has to give people enriching, Business has to give people enriching,
rewarding lives … rewarding lives … or it's or it's simsimppllyy not not
worth worth doindoing.”g.”
——Richard BransonRichard Branson
““In a world where customers wake up In a world where customers wake up every morning asking, ‘What’s new, every morning asking, ‘What’s new, what’s different, what’s amazing?’ what’s different, what’s amazing?’
success desuccess deppends on a ends on a comcomppananyy’s abilit’s abilityy to unleash to unleash initiative, imainitiative, imaggination and ination and ppassion of emassion of empploloyyees at all ees at all
levelslevels —and this can only happen if all —and this can only happen if all those folks are connected heart and soul those folks are connected heart and soul
to their work [their ‘calling’], their to their work [their ‘calling’], their company and their mission.”company and their mission.” —John Mackey and —John Mackey and
Raj Sisoda,Raj Sisoda, Conscious Capitalism: Conscious Capitalism: Liberating the Heroic Spirit of BusinessLiberating the Heroic Spirit of Business
““Contrary to conventional Contrary to conventional corporate thinking, corporate thinking, treating retail workers treating retail workers much better may make much better may make everyone (including everyone (including their employers) much their employers) much richer.”richer.” * *** **
**DuhDuh!!**Cited in particular, “The Good Jobs Strategy,” by M.I.T. **Cited in particular, “The Good Jobs Strategy,” by M.I.T. professor Zeynep Ton.professor Zeynep Ton.
Wegmans Wegmans ((was #1 in USA)was #1 in USA)
Container Store Container Store (was #1 in USA)(was #1 in USA)
Whole FoodsWhole FoodsCostcoCostcoPublixPublix
Darden RestaurantsDarden RestaurantsBuild-A-Bear Build-A-Bear WorkshopsWorkshopsStarbucksStarbucks
““You have to You have to treat your treat your
employees like employees like customers.”customers.” —Herb —Herb
Kelleher, upon being asked his “secret to success”Kelleher, upon being asked his “secret to success”
Source: Joe Nocera, Source: Joe Nocera, NYTNYT, “Parting Words of an Airline Pioneer,” , “Parting Words of an Airline Pioneer,” on the occasion of Herb Kelleher’s retirement after 37 years at on the occasion of Herb Kelleher’s retirement after 37 years at
Southwest Airlines Southwest Airlines (SWA’s pilots union took out a full-page ad in (SWA’s pilots union took out a full-page ad in USA USA TodayToday
thanking HK for all he had done) thanking HK for all he had done) ; across the way in Dallas, American ; across the way in Dallas, American Airlines’ pilots were Airlines’ pilots were picketingpicketing AA’s Annual Meeting)AA’s Annual Meeting)
EMPLOYEES FIRST, CUSTOMERS SECOND:EMPLOYEES FIRST, CUSTOMERS SECOND:Turning Conventional Management Upside Turning Conventional Management Upside
DownDownVineet Nayar/CEO/HCL TechnologiesVineet Nayar/CEO/HCL Technologies
““hostmanship”/hostmanship”/““consideration consideration
renovation”renovation”
““The path to a The path to a hostmanshihostmanshipp culture paradoxically does not go culture paradoxically does not go through the guest. In fact it wouldn’t be totally wrong to say that the guest has through the guest. In fact it wouldn’t be totally wrong to say that the guest has nothing to do with it.nothing to do with it. True hostmanship leaders focus on their employees. What True hostmanship leaders focus on their employees. What drives exceptionalism is finding the right people and getting them to love their drives exceptionalism is finding the right people and getting them to love their work and see it as a passion. ... The guest comes into the picture only when you work and see it as a passion. ... The guest comes into the picture only when you are ready to ask, ‘are ready to ask, ‘Would you prefer to stay at a hotel where the staff love their Would you prefer to stay at a hotel where the staff love their
work or where management has made customers its highest priority?’”work or where management has made customers its highest priority?’” ““We We went throuwent througgh the hotel and made ah the hotel and made a ... ... ‘‘consideration renovation.consideration renovation.’’ Instead of Instead of redoinredoingg bathrooms, dinin bathrooms, dining g rooms, and rooms, and gguest rooms, we uest rooms, we ggave emave empploloyyees new ees new
uniforms, bouuniforms, bougght flowers and fruit, and ht flowers and fruit, and chanchangged colors.ed colors. Our focus was totallOur focus was totallyy on on the staff.the staff. TheTheyy were the ones we wanted were the ones we wanted to make hato make happy.ppy. We wanted them to wake up everWe wanted them to wake up everyy mornin morningg excited excited
about a new daabout a new dayy at work at work.” .” —Jan Gunnarsson and Olle Blohm, —Jan Gunnarsson and Olle Blohm, Hostmanship: Hostmanship: The Art of Making People Feel WelcomeThe Art of Making People Feel Welcome..
“ … “ … The guest comes into The guest comes into the picture only when you the picture only when you are ready to ask, are ready to ask, ‘‘Would Would you prefer to stay at a you prefer to stay at a
hotel where the staff love hotel where the staff love their work or where their work or where
management has made management has made customers its highest customers its highest
priority?’priority?’””
Rocket Science. Rocket Science. NOT.NOT.
““If you want staff to If you want staff to give great service, give great service, service, give great service, give great service to staff.” service to staff.”
——Ari Weinzweig, Zingerman’s Ari Weinzweig, Zingerman’s
Source: Source: Small Giants: Companies That Choose to Be Small Giants: Companies That Choose to Be Great Instead of Big, Great Instead of Big, Bo BurlinghamBo Burlingham
EXCELLENT EXCELLENT customer experiencecustomer experiencedepends … depends … entirely …entirely …
onon EXCELLENT EXCELLENT employee experience!employee experience!
If you want to WOW your If you want to WOW your
customers, customers, FIRSTFIRST you you must WOW those whomust WOW those who WOW the customers!WOW the customers!
““G-E-N-I-U-S”G-E-N-I-U-S”Getting more and more cantankerous (short tempered!)Getting more and more cantankerous (short tempered!)
about this:about this: Job #1Job #1 (& #2 & #3)(& #2 & #3) is to abet peoples' personal is to abet peoples' personal
growth. All other good things growth. All other good things flow there from.flow there from.My idea of a gen-u-ine "genius“My idea of a gen-u-ine "genius“
"breakthrough" idea:"breakthrough" idea: If you work your If you work your heart out to help people grow, heart out to help people grow,
they'll work their hearts outthey'll work their hearts out to give customers a great to give customers a great
experience.experience.
Oath of Office:Oath of Office: Managers/Servant Leaders Managers/Servant Leaders
Our goal is to serve our customers brilliantly and profitably overOur goal is to serve our customers brilliantly and profitably over the long haul.the long haul.Serving our customers brilliantly and profitably over the longServing our customers brilliantly and profitably over the long haul is a product of brilliantly serving, over the long haul, thehaul is a product of brilliantly serving, over the long haul, the people who serve the customer.people who serve the customer.
Hence, our job as leaders—the alpha and the omega andHence, our job as leaders—the alpha and the omega and everything in between—is abetting the sustained everything in between—is abetting the sustained growthgrowth and success and engagement and enthusiasm andand success and engagement and enthusiasm and commitment to Excellence of those, one at a time, commitment to Excellence of those, one at a time, whowho directly or indirectly serve the ultimate customer.directly or indirectly serve the ultimate customer.
We—leaders of every stripe—are in the “Human Growth andWe—leaders of every stripe—are in the “Human Growth and Development and Success and Aspiration to ExcellenceDevelopment and Success and Aspiration to Excellence business.”business.”““We” We” (leaders)(leaders) only grow when “they” only grow when “they” (each and every one of our colleagues)(each and every one of our colleagues) are are growing.growing.““We” (We” (leaders)leaders) only succeed when “they” only succeed when “they” (each and every one of our colleagues)(each and every one of our colleagues)
are succeeding.are succeeding.““We” We” (leaders)(leaders) only energetically march toward Excellence when only energetically march toward Excellence when “ “they” they” [each and every one of our colleagues][each and every one of our colleagues] are energetically marching are energetically marching toward Excellence.toward Excellence.Period.Period.
““The role of the Director is to The role of the Director is to create a space where the create a space where the
actors and actresses canactors and actresses can become more than become more than thetheyy’ve ever been ’ve ever been
before,before, more than themore than they’y’ve ve dreamed of beindreamed of being.”g.”
——Robert Altman, Oscar acceptance speechRobert Altman, Oscar acceptance speech
““The leaders of Great The leaders of Great
Groups … Groups … lovelove talent talent … and know where to find … and know where to find
it. They … it. They … revelrevel inin …… the talent of the talent of
others.”others.” —Warren Bennis & Patricia Ward —Warren Bennis & Patricia Ward
Biederman, Biederman, Organizing GeniusOrganizing Genius
Brand Brand = =
Talent.Talent.
Our Mission
TO DEVELOP AND MANAGE TALENT;TO DEVELOP AND MANAGE TALENT;TO APPLY THAT TALENT,TO APPLY THAT TALENT,
THROUGHOUT THE WORLD, THROUGHOUT THE WORLD, FOR THE BENEFIT OF CLIENTS;FOR THE BENEFIT OF CLIENTS;TO DO SO IN PARTNERSHIP; TO DO SO IN PARTNERSHIP;
TO DO SO WITH PROFIT.TO DO SO WITH PROFIT.
WPP
Les Wexner:Les Wexner: FROM FROM FASHION TRENDS FASHION TRENDS GURU TO PICKING GURU TO PICKING AND DEVELOPING AND DEVELOPING
PEOPLE!*PEOPLE!**Limited Brands founder Les Wexner queried on astounding longterm success:*Limited Brands founder Les Wexner queried on astounding longterm success:
It happened because “I got as excited about developing people”It happened because “I got as excited about developing people” as he had been about predicting fashion trends in his early yearsas he had been about predicting fashion trends in his early years
((PARC’s Bob Taylor: “CONNOISSEUR OF TALENT”“CONNOISSEUR OF TALENT” ) )
““The role of the Director is to The role of the Director is to create a space where the create a space where the
actors and actresses canactors and actresses can become more than become more than thetheyy’ve ever been ’ve ever been
before,before, more than themore than they’y’ve ve dreamed of beindreamed of being.”g.”
——Robert Altman, Oscar acceptance speechRobert Altman, Oscar acceptance speech
AndrewAndrew CarneCarneggieie’s Tombstone Inscription …’s Tombstone Inscription …
Here lies a manHere lies a manWho knew how to enlistWho knew how to enlist
In his serviceIn his serviceBetter men than himself.Better men than himself.
Source: Peter Drucker, Source: Peter Drucker, The Practice of ManagementThe Practice of Management
THE MORAL THE MORAL IMPERATIVEIMPERATIVE
CORPORATE MANDATE #1 2014:CORPORATE MANDATE #1 2014: Your Your principal moral obligation as a principal moral obligation as a
leader is to develop the skillset, leader is to develop the skillset, “soft” and “hard,” of every one “soft” and “hard,” of every one
of the people in your charge of the people in your charge (temporary as well as semi-(temporary as well as semi-permanent) to the maximum permanent) to the maximum
extent of your abilities. The good extent of your abilities. The good news: news: This is also theThis is also the
#1 mid- to lon#1 mid- to longg-term-term … … p profit maximization straterofit maximization strategy!gy!
In In Good BusinessGood Business, Mihaly Csikszentmihalyi argues , Mihaly Csikszentmihalyi argues persuasively that business has become the center of persuasively that business has become the center of
society. As such, an obligation to community is front & society. As such, an obligation to community is front & center. Business as societal bedrock, has the center. Business as societal bedrock, has the
RESPONSIBILITY to increase theRESPONSIBILITY to increase the ““SUMSUM OF OF HUMANHUMAN WELLWELL--BEINGBEING.”.”
Business is NOT "part of the community."Business is NOT "part of the community." In terms of In terms of how adults collectively spend their waking how adults collectively spend their waking
hours … hours … BUSINESSBUSINESS ISIS THETHE COMMUNITYCOMMUNITY.. And should act accordingly. And should act accordingly.
The (REALLY) good news:The (REALLY) good news: Community mindednessCommunity mindedness is a great way (THE best way?) to have is a great way (THE best way?) to have
spirited/committed/ customer-centric work spirited/committed/ customer-centric work force—and, ultimately, increase (maximize?) force—and, ultimately, increase (maximize?)
profitability!profitability!
The Memories That MatterThe Memories That Matter
The people you developed who went on toThe people you developed who went on to stellar accomplishments inside or outsidestellar accomplishments inside or outside the company.the company. The (no more than) two or three people you developed who went on The (no more than) two or three people you developed who went on toto create create stellar institutions of their own.stellar institutions of their own.The long shots (people with “a certain something”) you bet on whoThe long shots (people with “a certain something”) you bet on who surprised themselves—surprised themselves—andand your peers. your peers.
The people of all stripes who 2/5/10/20 yearsThe people of all stripes who 2/5/10/20 years later say later say “You made a difference in my “You made a difference in my life,”life,” “ “Your belief in me changed everything.”Your belief in me changed everything.”The sort of/character of people you hired in general. (The sort of/character of people you hired in general. (And And the bad the bad apples you chucked out despite some stellar traits.)apples you chucked out despite some stellar traits.)A handful of projects (a half dozen at most) you doggedly pursued A handful of projects (a half dozen at most) you doggedly pursued thatthat still make you smile and which fundamentally changed the waystill make you smile and which fundamentally changed the way things are done inside or outside the company/industry.things are done inside or outside the company/industry. The supercharged camaraderie of a handful of Great Teams aiming The supercharged camaraderie of a handful of Great Teams aiming toto “ “change the world.”change the world.”
Hiring*Hiring**Deconstructing leadership*Deconstructing leadership
““development can help great development can help great
people be even people be even better— better— but if but if I had a dollar to spend, I’d I had a dollar to spend, I’d
spendspend 7070 cents cents getting the right person getting the right person
in the door.”in the door.” ——Paul Russell, Director, Leadership and Paul Russell, Director, Leadership and
Development, GoogleDevelopment, Google
““In short, hiring is In short, hiring is the the most immost impportant ortant
asasppect of businessect of business
and yet remainsand yet remains woefully woefully misunderstoodmisunderstood..””
Source: Source: Wall Street JournalWall Street Journal, 10.29.08,, 10.29.08,
review of review of Who: The A Method for Hiring, Who: The A Method for Hiring, Geoff Smart and Randy StreetGeoff Smart and Randy Street
"When I hire "When I hire someone, that's someone, that's
when when I I ggo to o to work for work for
themthem.”.” —John DiJulius,—John DiJulius, "What's the Secret to "What's the Secret to
Providing a World-class Customer Experience"Providing a World-class Customer Experience"
"When I hire "When I hire someone, that's someone, that's
when when I I ggo to o to work for work for
themthem.”.” —John DiJulius,—John DiJulius, "What's the Secret to "What's the Secret to
Providing a World-class Customer Experience"Providing a World-class Customer Experience"
QuietQuiet
““We live with a value system that I call the Extrovert Ideal—the We live with a value system that I call the Extrovert Ideal—the omnipresent belief that the ideal self is gregarious, alpha, and omnipresent belief that the ideal self is gregarious, alpha, and
comfortable in the spotlight. The archetypal extrovert prefers action comfortable in the spotlight. The archetypal extrovert prefers action to contemplation, risk-taking to heed-taking, certainty to doubt. … We to contemplation, risk-taking to heed-taking, certainty to doubt. … We think that we value individuality, but all too often we admire one type think that we value individuality, but all too often we admire one type of individual … Introversion is now a second-class personality trait. … of individual … Introversion is now a second-class personality trait. …
The Extrovert Ideal has been documented in many The Extrovert Ideal has been documented in many studies. Talkative people, for example, are rated as studies. Talkative people, for example, are rated as smarter, better looking, more interesting, and more smarter, better looking, more interesting, and more
desirable as friends. Velocity of speech counts as well desirable as friends. Velocity of speech counts as well as volume: We rank fast talkers as more competent and as volume: We rank fast talkers as more competent and likeable than slow ones. But we make a grave mistake likeable than slow ones. But we make a grave mistake to embrace the Extrovert Ideal so unthinkingly.to embrace the Extrovert Ideal so unthinkingly. … As the … As the
science journalist Winifred Gallagher writes, ‘The glory of the science journalist Winifred Gallagher writes, ‘The glory of the disposition that stops to consider stimuli rather than rushing to disposition that stops to consider stimuli rather than rushing to
engage with them is its long association with intellectual and artistic engage with them is its long association with intellectual and artistic achievement. Neither E = mc squared or Paradise Lost was dashed off achievement. Neither E = mc squared or Paradise Lost was dashed off by a party animal.’ Even in less obviously introverted occupations, like by a party animal.’ Even in less obviously introverted occupations, like
finance, politics, and activism, some of the greatest leaps forward finance, politics, and activism, some of the greatest leaps forward were made by introverts … figures like Eleanor Roosevelt, Warren were made by introverts … figures like Eleanor Roosevelt, Warren
Buffett and Gandhi achieved what they did not in spite of but because Buffett and Gandhi achieved what they did not in spite of but because of their introversion.”of their introversion.” — —Susan Cain, Susan Cain,
Quiet: The Power of Introverts in a World That Can’t Stop TalkingQuiet: The Power of Introverts in a World That Can’t Stop Talking
2/Year = 2/Year = LegacyLegacy
Promotion DecisionsPromotion Decisions
“life and “life and death death
decisions”decisions”Source: Peter Drucker, Source: Peter Drucker, The Practice of ManagementThe Practice of Management
EvaluationEvaluation
EVALUATING EVALUATING
PEOPLE = PEOPLE = #1#1
DIFFERENTIATORDIFFERENTIATORSource: Jack Welch, now Jeff Immelt onSource: Jack Welch, now Jeff Immelt on
GE’s top strategic skill ( GE’s top strategic skill (!!!!!!!!))
SelfSelf--EvaluationEvaluation
““To develop To develop others, start others, start
with with yyourselfourself.”.”
—Marshall Goldsmith—Marshall Goldsmith
““How can a high-level leader like _____ How can a high-level leader like _____ be so out of touch with the truth about be so out of touch with the truth about
himself? It’s more common than you himself? It’s more common than you
would imagine. would imagine. In fact, the higher up the ladder a leader climbs, the less
accurate his self-assessment is likely to be.
The problem is an acute lack of The problem is an acute lack of feedback [especially on people issues].”feedback [especially on people issues].”
—Daniel Goleman (et al.), —Daniel Goleman (et al.), The New LeadersThe New Leaders
Training = Training = InvestmentInvestment
#1#1!!
6/2/36/2/3**
*It takes Jerry Seinfeld *It takes Jerry Seinfeld SIX SIX MONTHSMONTHS to develop to develop
TWO TWO oror THREE THREE MINUTESMINUTES of new material of new material (documentary: “Comedian”)(documentary: “Comedian”)
2X2X
In the Army, In the Army, 33--star star ggeneralsenerals worry about worry about
training. In most training. In most businesses, it's a “ho businesses, it's a “ho hum” mid-level staff hum” mid-level staff
function.function.
““training, training, TRAINING and TRAINING and
M-O-R-E M-O-R-E T-R-A-I-N-I-N-G”T-R-A-I-N-I-N-G” ——
——CINCPAC Nimitz to CNO KingCINCPAC Nimitz to CNO King/1943/1943(punctuation Nimitz’s)(punctuation Nimitz’s)
Training = InvestmentTraining = Investment
#1#1: : In the Army, In the Army,
33--star star ggeneralsenerals worry about worry about training. In most training. In most
businesses, the top training businesses, the top training post is a “ho-hum” mid-post is a “ho-hum” mid-
level staff slot.level staff slot.
Why is intensive-Why is intensive-extensive training extensive training
obvious for the army & obvious for the army & navy & sports teams & navy & sports teams &
performing arts performing arts
groups--but groups--but not for for
the average business?the average business?
Is your Is your CTOCTO/Chief /Chief Training Officer your top Training Officer your top paid “C-level” job (other paid “C-level” job (other
than CEO/COO)?than CEO/COO)?
Are your top trainers Are your top trainers paid/cherished as much paid/cherished as much as your top marketers/ as your top marketers/
engineers?engineers?
Is your CTO/Chief Training Officer your top paid “C-level” job (other than Is your CTO/Chief Training Officer your top paid “C-level” job (other than CEO/COO)?CEO/COO)?If not, why not?If not, why not?Are your top trainers paid as much as your top marketers and engineers?Are your top trainers paid as much as your top marketers and engineers?If not, why not?If not, why not?
Are your training courses so Are your training courses so good they make you giggle and good they make you giggle and tingle?tingle?If not, why not?If not, why not?Randomly stop an employee in the hall: Can she/he meticulously describe her/his Randomly stop an employee in the hall: Can she/he meticulously describe her/his development plan for the next 12 months?development plan for the next 12 months?If not, why not?If not, why not?Why is your world of business any different than the (competitive) world of Why is your world of business any different than the (competitive) world of rugby, football, opera, theater, rugby, football, opera, theater, the military?the military?If “people/talent first” and hyper-intense continuous training are laughably If “people/talent first” and hyper-intense continuous training are laughably obviously for them, why not you? obviously for them, why not you?
Is your CTO/Chief Training Officer your top paid “C-level” job (other than Is your CTO/Chief Training Officer your top paid “C-level” job (other than CEO/COO)?CEO/COO)?If not, why not?If not, why not?
Are your top trainers paid as much as your top marketers and engineers?Are your top trainers paid as much as your top marketers and engineers?If not, why not?If not, why not?
Are your traiAre your training courses so good they make you giggle and tingle?ning courses so good they make you giggle and tingle?If not, why not?If not, why not?
Randomly stop an employee in Randomly stop an employee in the hall: Can she/he the hall: Can she/he meticulously describe her/his meticulously describe her/his development plan for the next development plan for the next 12 months?12 months?If not, why not?If not, why not?
Why is your world of business any different than the (competitive) world of Why is your world of business any different than the (competitive) world of rugby, football, opera, theater, rugby, football, opera, theater, the military?the military?If “people/talent first” and hyper-intense continuous training are laughably If “people/talent first” and hyper-intense continuous training are laughably obviously for them, why not you? obviously for them, why not you?
Gamblin’ ManGamblin’ Man
Bet #1: Bet #1: >> 5 of 10 CEOs see >> 5 of 10 CEOs see training as expense rather training as expense rather than investment.than investment.Bet #2: Bet #2: >> 5 of 10 CEOs see >> 5 of 10 CEOs see training as defense rather training as defense rather than offense.than offense.Bet #3: Bet #3: >> 5 of 10 CEOs see >> 5 of 10 CEOs see training as “necessary evil” training as “necessary evil” rather than “strategic rather than “strategic opportunity.”opportunity.”
Bet #4:Bet #4: >> 8 of 10 >> 8 of 10 CEOs, in 45-min CEOs, in 45-min “tour d’horizon” “tour d’horizon” of their biz, would of their biz, would NOTNOT mention mention training.training.
What is the best reason to go What is the best reason to go bananas over training? bananas over training?
GREED.GREED. (It pays off.) (It pays off.)
(Training should be an official part of the (Training should be an official part of the
R&DR&D budget and a capital expense.) budget and a capital expense.)
Training #1: Bottom LineTraining #1: Bottom Line
NOBODYNOBODY gets off the gets off the
hook! “Training & Development hook! “Training & Development Maniac” applies as much to the Maniac” applies as much to the
leader of the leader of the 4-person 4-person businessbusiness as to the chief of as to the chief of the 44,444-person business.the 44,444-person business.
11stst-Line Bosses -Line Bosses (Cadre of) = (Cadre of) =
Productivity Asset Productivity Asset
#1#1!!
If the regimental commander lost most of his If the regimental commander lost most of his 2nd lieutenants and 1st lieutenants and 2nd lieutenants and 1st lieutenants and
captains and majors, it would be a tragedy. captains and majors, it would be a tragedy.
If he lost his If he lost his serserggeants it would eants it would be a catastrobe a catastropphehe. . The The
Army and the Navy are fully aware that Army and the Navy are fully aware that success on the battlefield is dependent to an success on the battlefield is dependent to an extraordinary degree on its Sergeants and extraordinary degree on its Sergeants and Chief Petty Officers. Does industry have the Chief Petty Officers. Does industry have the
same awareness?same awareness?
““People People leave leave
manamanaggersers not not companies.”companies.”
——Dave WheelerDave Wheeler
Is there Is there ONEONE “secret” “secret” to productivity and to productivity and
employee satisfaction?employee satisfaction?
YESYES!!
The Quality of your The Quality of your FULLFULL CADRECADRE of … of …1st-line Leaders.1st-line Leaders.
WOMEN RULEWOMEN RULE!!
““I speak to you with a feminine voice.I speak to you with a feminine voice. It’s the voice of democracy, of equality. It’s the voice of democracy, of equality.
I am certain, ladies and gentlemen,I am certain, ladies and gentlemen, that that this will be this will be
the woman’s the woman’s centurcentury.y. In the Portuguese language, In the Portuguese language,
words such as life, soul, and hope are of the feminine words such as life, soul, and hope are of the feminine
gender, as are other words like courage and sincerity.”gender, as are other words like courage and sincerity.”
——President Dilma Rousseff of BrazilPresident Dilma Rousseff of Brazil, 1st woman to, 1st woman to keynote the United Nations General Assembly (2011)keynote the United Nations General Assembly (2011)
““Research suggests Research suggests that to succeed, start that to succeed, start
by promoting by promoting women.”women.”
““McKinsey & Company found that the international companiesMcKinsey & Company found that the international companies with more women on their corporate boards with more women on their corporate boards far outperformedfar outperformed the the
average company in return on equity and other measures. average company in return on equity and other measures.
Operating profit wasOperating profit was 56%56% higher.”higher.”
Source: Nicholas Kristof, “Twitter, Women, and Power,” Source: Nicholas Kristof, “Twitter, Women, and Power,” NYTimesNYTimes, 1024.13, 1024.13
““AS AS LEADERS, LEADERS, WOMEN WOMEN
RULERULE:: New Studies find that New Studies find that
female managers outshine their male female managers outshine their male counterparts in almost every measure”counterparts in almost every measure”
TITLE/ Special Report/ TITLE/ Special Report/ BusinessWeekBusinessWeek
Women’s Strengths Match New Women’s Strengths Match New Economy ImperativesEconomy Imperatives:: Link [rather than Link [rather than
rank] workers; rank] workers; favor interactive-favor interactive-collaborative leadership style collaborative leadership style
[empowerment beats top-down decision [empowerment beats top-down decision making];making]; sustain fruitful collaborations; sustain fruitful collaborations;
comfortable with sharing information; comfortable with sharing information; see see redistribution of powerredistribution of power
as victory, not surrender as victory, not surrender; favor multi-; favor multi-dimensional feedback; dimensional feedback; value technical & value technical & interpersonal skills, individual & group interpersonal skills, individual & group contributions equally;contributions equally; readily accept readily accept
ambiguity; ambiguity; honor intuition as well as pure honor intuition as well as pure “rationality”;“rationality”; inherently flexible; inherently flexible; appreciate appreciate
cultural diversitycultural diversity..
Source: Source: Judy B. Rosener, Judy B. Rosener, America’s Competitive Secret: Women ManagersAmerica’s Competitive Secret: Women Managers
Women’s NeWomen’s Neggotiatinotiatingg Stren Strenggthsths
*Ability to put themselves in their *Ability to put themselves in their counterparties’ shoes counterparties’ shoes*Comprehensive, attentive and detailed*Comprehensive, attentive and detailed communication style communication style*Empathy that facilitates trust-building*Empathy that facilitates trust-building*Curious and attentive listening*Curious and attentive listening*Less competitive attitude*Less competitive attitude*Strong sense of fairness and ability to *Strong sense of fairness and ability to persuadepersuade*Proactive risk manager*Proactive risk manager*Collaborative decision-making*Collaborative decision-making
Source: Horacio Falcao, Cover story/May 2006, Source: Horacio Falcao, Cover story/May 2006, World BusinessWorld Business, “Say It , “Say It Like a Woman: Why the 21Like a Woman: Why the 21stst-century negotiator will need the female -century negotiator will need the female touch”touch”
Warren Buffett Warren Buffett Invests Like a Girl: Invests Like a Girl:
And Why YouAnd Why YouShould TooShould Too —Louann Lofton—Louann Lofton
Portrait of a Female InvestorPortrait of a Female Investor
1. Trade less than men do1. Trade less than men do2. Exhibit less overconfidence—more likely to know2. Exhibit less overconfidence—more likely to know what they don’t know what they don’t know3. Shun risk more than male investors do3. Shun risk more than male investors do4. Less optimistic, more realistic than their male4. Less optimistic, more realistic than their male counterparts counterparts5. Put in more time and effort researching possible5. Put in more time and effort researching possible investments—consider details and alternate points investments—consider details and alternate points of view of view6. More immune to peer pressure—tend to make6. More immune to peer pressure—tend to make decisions the same way regardless of who’s watching decisions the same way regardless of who’s watching7. Learn from their mistakes7. Learn from their mistakes8. Have less testosterone than men do, making them8. Have less testosterone than men do, making them less willing to take extreme risks, which, in turn, less willing to take extreme risks, which, in turn, could lead to less extreme market cycles could lead to less extreme market cycles
Source: Source: Warren Buffett Invests Like a Girl: And Warren Buffett Invests Like a Girl: And Why You Should TooWhy You Should Too, Louann Lofton, Chapter 2, “The Science Behind the , Louann Lofton, Chapter 2, “The Science Behind the Girl”Girl”
CONTEXTCONTEXT
EXPONENTIALEXPONENTIAL
““Just like other members of Just like other members of the board, the algorithm the board, the algorithm
gets to vote on whether the gets to vote on whether the firm makes an investment firm makes an investment in a specific company or in a specific company or
not. The program will be the not. The program will be the sixth member of DKV's sixth member of DKV's
board.”board.”
Source:Source: Business Insider, Business Insider, 13 May 2014: 13 May 2014: “A Hong Kong VC fund “A Hong Kong VC fund has just appointed an algorithm to its board.” has just appointed an algorithm to its board.”
PersadoPersado (vs. copywriter): emotion words, product (vs. copywriter): emotion words, product characteristics, “call to action,” position of text, characteristics, “call to action,” position of text,
imagesimages
Up To $250 To Spend On Up To $250 To Spend On All Ships In AllAll Ships In All
Destinations. 2 Days LeftDestinations. 2 Days Left
(1.3%)(1.3%)vs.vs.
No kidding! You QualifyNo kidding! You QualifyExperience An IncredibleExperience An Incredible
Vacation With Us :-)Vacation With Us :-)
(4.1) (4.1)
“A creative person is good but random. We’ve taken “A creative person is good but random. We’ve taken the randomness out by building an ontology of the randomness out by building an ontology of
language”language”——Lawrence Whittle, head of salesLawrence Whittle, head of sales
Source: Wall Street Journal/ Source: Wall Street Journal/ 0825.14/ “It’s Finally Time to Take AI Seriously”0825.14/ “It’s Finally Time to Take AI Seriously”
1,000,0001,000,000
China/Foxconn:China/Foxconn:
1,000,001,000,0000 robots/next 3 robots/next 3
yearsyears
Source:Source: Race AGAINST the Machine, Race AGAINST the Machine, Erik Brynjolfsson and Andrew McAfeeErik Brynjolfsson and Andrew McAfee
1/721: “The greatest “The greatest shortcoming of the shortcoming of the human race is our human race is our
inability to inability to understand the understand the
exponential exponential function.” function.” —Albert A. Bartlett—Albert A. Bartlett
““Meet Your Meet Your Next Surgeon: Next Surgeon:
Dr. Robot”Dr. Robot”Source: Feature/Source: Feature/FortuneFortune/15 JAN 2013/on Intuitive Surgical’s/15 JAN 2013/on Intuitive Surgical’s
da Vincida Vinci /multiple bypass heart-surgery /multiple bypass heart-surgery
robotrobot
PersadoPersado (vs. copywriter): emotion words, product (vs. copywriter): emotion words, product characteristics, “call to action,” position of text, characteristics, “call to action,” position of text,
imagesimages
Up To $250 To Spend On Up To $250 To Spend On All Ships In AllAll Ships In All
Destinations. 2 Days LeftDestinations. 2 Days Left
(1.3%)(1.3%)vs.vs.
No kidding! You QualifyNo kidding! You QualifyExperience An IncredibleExperience An Incredible
Vacation With Us :-)Vacation With Us :-)
(4.1) (4.1)
“A creative person is good but random. We’ve taken “A creative person is good but random. We’ve taken the randomness out by building an ontology of the randomness out by building an ontology of
language”language”——Lawrence Whittle, head of salesLawrence Whittle, head of sales
Source: Wall Street Journal/ Source: Wall Street Journal/ 0825.14/ “It’s Finally Time to Take AI Seriously”0825.14/ “It’s Finally Time to Take AI Seriously”
““Just like other members of Just like other members of the board, the algorithm the board, the algorithm
gets to vote on whether the gets to vote on whether the firm makes an investment firm makes an investment in a specific company or in a specific company or
not. The program will be the not. The program will be the sixth member of DKV's sixth member of DKV's
board.”board.”
Source:Source: Business Insider, Business Insider, 13 May 2014: 13 May 2014: “A Hong Kong VC fund “A Hong Kong VC fund has just appointed an algorithm to its board.” has just appointed an algorithm to its board.”
““Human level Human level capability has not capability has not turned out to be a turned out to be a special stopping special stopping
point from an point from an engineering engineering
perspective. ….”perspective. ….”
Source: Illah Reza Nourbakhsh, Professor of Robotics, Carnegie Mellon, Source: Illah Reza Nourbakhsh, Professor of Robotics, Carnegie Mellon, Robot Robot FuturesFutures
IoEIoE
IoT/The Internet of ThingsIoT/The Internet of Things IoE/The Internet of IoE/The Internet of EverythingEverything M2M/Machine-to-MachineM2M/Machine-to-Machine Ubiquitous computingUbiquitous computing Embedded computingEmbedded computing Pervasive computingPervasive computing Industrial InternetIndustrial Internet Etc.*Etc.* **** ******
*“*“More Than More Than 50 BILLION50 BILLION connected devices by 2020” —Ericsson connected devices by 2020” —Ericsson
**Estimated **Estimated 212 BILLION212 BILLION connected devices by 2020—IDC connected devices by 2020—IDC
***“By 2025 IoT could be applicable to ***“By 2025 IoT could be applicable to $82 TRILLION$82 TRILLION of output or of output or approximately one half the global economy”—GE (The WAGs to end all WAGs!)approximately one half the global economy”—GE (The WAGs to end all WAGs!)
““The root of our problem is notThe root of our problem is not that we’re in a Great Recessionthat we’re in a Great Recession
or a Great Stagnation, but ratheror a Great Stagnation, but rather that we are in the early that we are in the early
throes of a throes of a Great Restructuring. .
Our technologies are racing ahead,Our technologies are racing ahead, but our skills and organizationsbut our skills and organizations
are lagging behind.”are lagging behind.”
Source:Source: Race AGAINST the Machine, Race AGAINST the Machine, Erik Brynjolfsson and Andrew McAfeeErik Brynjolfsson and Andrew McAfee
““The median The median worker is losing worker is losing the race against the race against the machine.”the machine.”
—Erik Brynjolfsson and Andrew McAfee, Race Against The Machine
INNOVATION:INNOVATION:TWO TACTICSTWO TACTICS
11/48/48(No kidding)(No kidding)
Lesson48:Lesson48: WTTMSWTTMS
WW
WHOEVERWHOEVERTRIESTRIESTHETHEMOSTMOSTSTUFFSTUFFWINSWINS
Excellence82: The Bedrock “EiExcellence82: The Bedrock “Eigght Basics”ht Basics”
1. 1. A Bias for A Bias for ActionAction2. Close to the 2. Close to the CustomerCustomer3. 3. AutonomAutonomy and y and EntreEntreppreneurshireneurshipp4. Productivity Through 4. Productivity Through PeoPeopplele5. 5. Hands OnHands On, , Value-DrivenValue-Driven6. 6. Stick toStick to the Knitting the Knitting7. 7. SimSimpplele Form, Form, LeanLean Staff Staff8. Simultaneous 8. Simultaneous Loose-TightLoose-Tight PropertiesProperties
READY.READY.FIRE!FIRE!AIM.AIM.
H. Ross Perot (vs H. Ross Perot (vs ““Aim! Aim! Aim!”Aim! Aim! Aim!” /EDS vs GM/1985)/EDS vs GM/1985)
Screw it.Screw it.Just do it.Just do it.
——book title, Richard Bransonbook title, Richard Branson
““WE HAVE A WE HAVE A ‘STRATEGIC ‘STRATEGIC PLAN.’ IT’S PLAN.’ IT’S
CALLED CALLED DOING DOING THINGSTHINGS.”.” — Herb Kelleher
““EXPERIMENT EXPERIMENT FEARLESSLY”FEARLESSLY”
Source: BusinessWeek, “Type A Organization Strategies: How to Hit a Moving Target”—Tactic #1Tactic #1
“RELENTLESS TRIAL“RELENTLESS TRIAL AND ERROR” AND ERROR”
Source: Source: Wall Street JournalWall Street Journal, cornerstone of effective approach to “rebalancing” company, cornerstone of effective approach to “rebalancing” company portfolios in the face of changing and uncertain global economic conditions (11.08.10) portfolios in the face of changing and uncertain global economic conditions (11.08.10)
““We made mistakes, of course. Most of them were omissions We made mistakes, of course. Most of them were omissions
we didn’t think of when we initially wrote the software. we didn’t think of when we initially wrote the software. We We fixed them bfixed them byy doin doingg it over and over, it over and over, aaggain and aain and aggain.ain. We do the same today. While our We do the same today. While our
competitors are still suckingcompetitors are still sucking their thumbs trying to make the their thumbs trying to make the design perfect, we’re already on prototype versiondesign perfect, we’re already on prototype version
##55.. By the time our rivals are ready with wires By the time our rivals are ready with wires
and screws, we are on version and screws, we are on version ##1010.. It It
ggets back to ets back to pplanninlanningg versus actin versus acting: g: We We act from day oneact from day one; ; others others pplan how tolan how to pplanlan——for monthsfor months.”.” —Bloomberg by Bloomberg—Bloomberg by Bloomberg
““FAIL.FAIL. FORWARD. FORWARD.
FAST.”FAST.”High Tech CEO, Pennsylvania
““REWARDREWARD excellent failures. PUNISHPUNISH mediocre
successes.”—Phil Daniels, Sydney exec
Ideas Economy: Ideas Economy: CAN YOUR CAN YOUR
BUSINESS FAIL BUSINESS FAIL FAST ENOUGH TO FAST ENOUGH TO
SUCCEED?SUCCEED?Source: ad for Economist Conference/0328.13/Berkeley CA (caps are Source: ad for Economist Conference/0328.13/Berkeley CA (caps are EconomistEconomist))
““The secret of fast The secret of fast progress is progress is
inefficiency, fast , fast and furious and and furious and
numerous failures.”numerous failures.”—Kevin Kelly
1T1T
1T/4,0961T/4,096
“YOU MISS “YOU MISS
100100%% OF OF
THE SHOTS YOU THE SHOTS YOU NEVER TAKE.”NEVER TAKE.”
—Wayne—Wayne GretzkyGretzky
WTTMSWTTMSASTMSUTFASTMSUTFWW
WHOEVERWHOEVERTRIESTRIESTHETHEMOSTMOSTSTUFFSTUFFANDANDSCREWS SCREWS THE THE MOST MOST STUFF STUFF UPUP THETHEFASTESTFASTESTWINSWINS
Act fast.Act fast.Fail fast.Fail fast.
Correct fast.Correct fast.Make bigger and more Make bigger and more interesting mistakes.interesting mistakes.
All of life is an All of life is an experiment.experiment.
We Are We Are WhatWhat
We Eat We Eat
““You will become You will become like the five people like the five people you associate with you associate with the most—this can the most—this can
be either a blessing be either a blessing or a curse.”or a curse.” —Billy Cox—Billy Cox
The “We are what we eat”/ The “We are what we eat”/ “We are who we hang out with”“We are who we hang out with”
Axiom: Axiom: At its core, At its core, evereveryy (!!!) (!!!) relationship-partnership decision relationship-partnership decision
(employee, vendor, customer, etc., (employee, vendor, customer, etc., etc.) is a etc.) is a stratestrateggicic decision about: decision about:
“Innovate,“Innovate, ‘ ‘YesYes’ ’ oror ‘No’ ” ”
WEWE ARE ARE THE THE COMPANYCOMPANY WE KEEP!WE KEEP!
MANAGEMANAGE IT! IT!
““Who’s the most Who’s the most interesting person interesting person you’ve met in the you’ve met in the last 90 days? How last 90 days? How do I get in touch do I get in touch
with them?”with them?” —Fred Smith—Fred Smith
““The Billion-man The Billion-man Research Team: Research Team:
Companies offering Companies offering work to online work to online
communities are communities are reaping the benefits of reaping the benefits of
‘crowdsourcing.’”‘crowdsourcing.’” —Headline, —Headline, FTFT
InnovateInnovate or Die: or Die:
Measure It!Measure It!
Innovation IndexInnovation Index:: How many of your Top 5Top 5
Strategic Initiatives/Key Projects score 88 or or higherhigher [out of 10] on a
“Weird”“Weird”//“Profound”“Profound”/ / “Wow”“Wow”//“Game-“Game-
changer”changer” Scale? (At least 3???)
Innovation IndexInnovation Index:: Move Move
every project (definition) every project (definition) 22 notches up on the notches up on the
“WOWification “WOWification Scale”Scale” … … THIS THIS
WEEKWEEK. .
““WOWification”WOWification”
… … TOTALLY TOTALLY UNUN-related -related
to project sizeto project size!!
InnovateInnovate or Die: or Die:
UbiquitousUbiquitous
Iron Innovation Equality Law:Iron Innovation Equality Law: The quality and The quality and
quantity and quantity and imaginativenessimaginativeness
of innovation shall be of innovation shall be the same in all the same in all
functionsfunctions —e.g., in HR and —e.g., in HR and purchasing as much as in marketing or purchasing as much as in marketing or
product development.*product development.*
SOME SOME VALUE-ADDED VALUE-ADDED STRATEGIESSTRATEGIES
TGRs:TGRs:8/808/80
CustomersCustomers describing their service describing their service
experience as “superior”: experience as “superior”: 88%%ComComppaniesanies describing describing
the service experience they provide the service experience they provide asas
“ “superior”: superior”: 8080%%——Source: Bain & Company survey of 362 companies, reported in John DiJulius,Source: Bain & Company survey of 362 companies, reported in John DiJulius,
What's the Secret to Providing a World-class Customer Experience?What's the Secret to Providing a World-class Customer Experience?
Conveyance: Kingfisher Air Conveyance: Kingfisher Air Location: Approach to New DelhiLocation: Approach to New Delhi
““May I clean May I clean your glasses, your glasses,
sir?”sir?”
It It BEGINSBEGINS (and (and ENDSENDS) )
in the …in the …
PARKINGPARKING LOTLOT**
*Disney*Disney
<TG<TGWandand … …
>TG>TGRR(Things Gone (Things Gone WRONG-Things Gone -Things Gone RIGHTRIGHT))
““ExExpperienceseriences are as distinct are as distinct from servicesfrom services
as services are as services are from goods.”from goods.”
—Joe Pine & Jim Gilmore, —Joe Pine & Jim Gilmore, The Experience Economy: The Experience Economy: Work Is Theatre & Every Business a StageWork Is Theatre & Every Business a Stage
CCXXO*O**Chief e*Chief eXXperience Officerperience Officer
TGRTGRSS..MANAGEMANAGE ’EM. ’EM.
MEASUREMEASURE ’EM. ’EM.***I use “manage-measure” a lot. Translation: These are*I use “manage-measure” a lot. Translation: These are
not “soft” ideas; they are exceedingly important things not “soft” ideas; they are exceedingly important things that can be managed—AND measured. that can be managed—AND measured.
TGRs:TGRs:LBTsLBTs
LITTLE =LITTLE =
BIGBIG
Big carts =Big carts =
1.5X1.5XSource: Wal*MartSource: Wal*Mart
Bag sizes = New markets:Bag sizes = New markets:
$B$BSource: PepsiCoSource: PepsiCo
2X:2X: “When Friedman“When Friedman
slisligghtlhtly y curvedcurved the right angle of the right angle of
an entrance corridor to one property, an entrance corridor to one property, he was ‘amazed at the magnitude of he was ‘amazed at the magnitude of change in pedestrians’ behavior—the change in pedestrians’ behavior—the percentage who entered increased percentage who entered increased
from from oneone--thirdthird to nearly to nearly twotwo--thirdsthirds.”.”
——Natasha Dow Schull, Natasha Dow Schull, Addiction By Design: Machine Gambling in Las VegasAddiction By Design: Machine Gambling in Las Vegas
Social Business/ Social Business/ Customer Customer
EngagementEngagement
““Customer engagement is Customer engagement is moving from relatively isolated moving from relatively isolated market transactions to deeply market transactions to deeply connected and sustained social connected and sustained social relationships. relationships. This basic chanThis basic changge e in how we do business will make in how we do business will make
an iman imppact on act on jjust about ust about evereveryythinthingg we do we do.”.”
Social Business By Design: Transformative Social Media StrategiesSocial Business By Design: Transformative Social Media Strategies For the Connected CompanyFor the Connected Company —Dion Hinchcliffe & Peter Kim —Dion Hinchcliffe & Peter Kim
Biz 2014: Get Aboard the “S-Train”Biz 2014: Get Aboard the “S-Train”
SMSM//Social Media.Social Media.
SXSX//Social eXecutives.Social eXecutives.
SESE//Social Employees.Social Employees.
SOSO//Social Social Organization.Organization.
SBSB//Social Business.Social Business.
Seven Characteristics of the Social EmployeeSeven Characteristics of the Social Employee
1. 1. Engaged Engaged 2. 2. Expects Integration of the Expects Integration of the
Personal and ProfessionalPersonal and Professional3. 3. Buys Into the Brand’s StoryBuys Into the Brand’s Story4. 4. Born CollaboratorBorn Collaborator5. 5. ListensListens6. 6. Customer-CentricCustomer-Centric7. 7. Empowered Change AgentEmpowered Change Agent
Source: Cheryl Burgess & Mark Burgess, Source: Cheryl Burgess & Mark Burgess, The Social EmployeeThe Social Employee
Marbles, a Ball and Social Employees ay IBM Marbles, a Ball and Social Employees ay IBM
““Picture a ball and a bag of marbles side by side. The two Picture a ball and a bag of marbles side by side. The two items might have the same volume—that is, if you dropped items might have the same volume—that is, if you dropped them into a bucket, they would sisplace the same amount them into a bucket, they would sisplace the same amount of water. The difference, however, lies in the surface area, of water. The difference, however, lies in the surface area,
Because a baBecause a bagg of marbles is of marbles is comcompprised of several individual rised of several individual
ppieces, the combined surface area of ieces, the combined surface area of all the marbles far outstriall the marbles far outstripps the s the
surface area of a sinsurface area of a singgle ballle ball.. The expanded The expanded surface area represents a social brand’s increased surface area represents a social brand’s increased
diversity. These surfaces connect and interact with each diversity. These surfaces connect and interact with each other in unique ways, offering customers and employees other in unique ways, offering customers and employees alike a variety of paths toward a myriad of solutions. If alike a variety of paths toward a myriad of solutions. If
none of the paths prove to be suitable, social employees none of the paths prove to be suitable, social employees can carve out new paths on their own.”can carve out new paths on their own.” —Ethan McCarty, Director of —Ethan McCarty, Director of
Enterprise Social Strategy, IBM (from Cheryl Burgess & Mark Burgess, Enterprise Social Strategy, IBM (from Cheryl Burgess & Mark Burgess, The Social The Social EmployeeEmployee
““Amy HowellAmy Howell [social marketer extraordinaire, [social marketer extraordinaire,
founder of Howell Marketing]founder of Howell Marketing] ignites ignites epidemics. In a good way, epidemics. In a good way,
of course. Epidemics of of course. Epidemics of excitement. Epidemics of excitement. Epidemics of
business connections. business connections. Epidemics of influence.”Epidemics of influence.”
——Mark Schaeffer,Mark Schaeffer, ROI/Return on Influence: The Revolutionary ROI/Return on Influence: The Revolutionary Power of Klout, Social Scoring, and Influence MarketingPower of Klout, Social Scoring, and Influence Marketing
DESIGNDESIGN!!
Design Design RulesRules!!
APPLEAPPLE market cap market cap > Exxon Mobil’s* > Exxon Mobil’s*
*August 2011*August 2011
HHypypothesisothesis: Men : Men
CANNOTCANNOT design for women’s design for women’s
needsneeds!!??!!??
Women BUYWomen BUY!!
““Forget CHINA, Forget CHINA, INDIA and the INDIA and the
INTERNET: Economic INTERNET: Economic Growth Is Driven by Growth Is Driven by
WOMENWOMEN.”.”
Source: Headline, Economist
W W > > 2X2X (C + (C + I)*I)*
**“Women now drive the global economy. Globally, they control about “Women now drive the global economy. Globally, they control about $20 trillion in consumer spending, and that figure could climb as high as $20 trillion in consumer spending, and that figure could climb as high as
$28 trillion$28 trillion in the next five years. in the next five years.
Their $13 trillion in total yearly earnings could reach $18 trillion in the Their $13 trillion in total yearly earnings could reach $18 trillion in the same period.same period. In aggregate, women represent a growth market bigger than China and India combined—more In aggregate, women represent a growth market bigger than China and India combined—more than twice as big in fact. Given those numbers, it would be foolish to ignore or underestimate the female consumer. than twice as big in fact. Given those numbers, it would be foolish to ignore or underestimate the female consumer.
And yet many companies do just that—even ones that are confidant that they have a winning strategy when it And yet many companies do just that—even ones that are confidant that they have a winning strategy when it comes to women. Consider Dell’s …”comes to women. Consider Dell’s …”
Source: Michael Silverstein and Kate Sayre, “The Female Economy,” Source: Michael Silverstein and Kate Sayre, “The Female Economy,” HBRHBR, 09.09, 09.09
““Women areWomen are THETHE majority majority
market”market” —Fara Warner/—Fara Warner/The Power of the PurseThe Power of the Purse
The Perfect Answer
Jill and Jack buy slacks in black…
Sales/After-sales ProcessSales/After-sales Process
1. Kick-off – 1. Kick-off – WomenWomen2. Research – 2. Research – WomenWomen3. Purchase – 3. Purchase – Men4. Ownership – 4. Ownership – WomenWomen5. Word-of-mouth – 5. Word-of-mouth – WomenWomen
Source: Martha Barletta, Source: Martha Barletta, Marketing to Women: How to Increase Your Share of the World’s Largest MarketMarketing to Women: How to Increase Your Share of the World’s Largest Market
WeWe [old farts like me][old farts like me] Got Got
the the $$$$$$$$$$$$
1/8/201/8/20
!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!““PEOPLE TURNING 50 PEOPLE TURNING 50
TODAY HAVE TODAY HAVE MORE MORE THANTHAN HALFHALF OF OF
THEIR ADULT LIFE THEIR ADULT LIFE AHEAD OF THEM.”AHEAD OF THEM.” —BILL
NOVELLI, 50+: IGNITING A REVOLUTION TO REINVENT AMERICA
““In 2009, households headed by In 2009, households headed by adults ages 65 and older ... had adults ages 65 and older ... had
4747 timestimes as much as much
net wealth as the typical net wealth as the typical household headed by someone household headed by someone under 35 years of age. In 1984, under 35 years of age. In 1984, this had been a less lopsided this had been a less lopsided
10-to-1 ratio.”10-to-1 ratio.”
Source: Pew Research/10.11Source: Pew Research/10.11
44-6544-65:: “NEW “NEW CUSTOMER CUSTOMER MAJORITY”MAJORITY”
Source: Source: Ageless MarketingAgeless Marketing, David Wolfe & Robert Snyder, David Wolfe & Robert Snyder
““Marketers’ attempts at reaching Marketers’ attempts at reaching those over 50 have been miserably those over 50 have been miserably
unsuccessful.unsuccessful. No No market’s market’s
motivations andmotivations and needs are so needs are so
poorlpoorlyy understoodunderstood.”.”
——Peter Francese, founding publisher, Peter Francese, founding publisher, American DemographicsAmerican Demographics
The The [ENORMOUS??][ENORMOUS??]
Services Services OpportunityOpportunity
IBIBMMtoto
IIBBMM
$55B*$55B**IBM Global Services/*IBM Global Services/
“Systems integrator of choice”“Systems integrator of choice”
UUPPSS toto
UPUPSS
““Big Brown’s New Bag: UPS Aims Big Brown’s New Bag: UPS Aims to Be the Traffic Manager for to Be the Traffic Manager for Corporate America”Corporate America” —Headline/—Headline/BWBW
“UPS wants to take over the sweet “UPS wants to take over the sweet spot in the endless loop of goods, spot in the endless loop of goods,
information and capital that all the information and capital that all the packages packages [it moves][it moves] represent.” represent.” —ecompany.com —ecompany.com
“It’s all about “It’s all about solutionssolutions. We . We work with customers on creating work with customers on creating
and running better, stronger, and running better, stronger, cheaper supply chains.”cheaper supply chains.” —Bob Stoffel, UPS —Bob Stoffel, UPS
senior exec senior exec
““Rolls-RoyceRolls-Royce now now
earns earns moremore from tasks from tasks such as managing such as managing
clients’ overall clients’ overall procurement strategies procurement strategies
and maintaining and maintaining aerospace engines it aerospace engines it
sells than it does from sells than it does from making them.”making them.”
——EconomistEconomist
Era #1/Obvious ValueEra #1/Obvious Value: “Our ‘it’ works, : “Our ‘it’ works, is delivered on time” (“Close”)is delivered on time” (“Close”)
Era #2/Augmented ValueEra #2/Augmented Value: : “How our “How our ‘it’ can add value—a ‘useful it’ ” ‘it’ can add value—a ‘useful it’ ”
(“Solve”)(“Solve”)
Era #3/Complex Value NetworksEra #3/Complex Value Networks: : “How “How our ‘system’ can change you and our ‘system’ can change you and
deliver deliver ‘BUSINESS ADVANTAGE’‘BUSINESS ADVANTAGE’” ” (“Culture-Strategic change”)(“Culture-Strategic change”)
Source: Jeff Thull, Source: Jeff Thull, The Prime Solution: Close the Value Gap,The Prime Solution: Close the Value Gap, Increase Margins, and Win the Complex Sale Increase Margins, and Win the Complex Sale
!!
0/8000/800
Kevin Roberts’ CredoKevin Roberts’ Credo
11. Ready. Fire! Aim.. Ready. Fire! Aim.2. If it ain’t broke ... Break it!2. If it ain’t broke ... Break it!3. Hire crazies.3. Hire crazies.4. Ask dumb questions.4. Ask dumb questions.5. Pursue failure.5. Pursue failure.6. Lead, follow ... or get out of the way!6. Lead, follow ... or get out of the way!7. Spread confusion.7. Spread confusion.8. Ditch your office.8. Ditch your office.9. Read odd stuff.9. Read odd stuff.
10. AVOID MODERATIONAVOID MODERATION!!
““INSANELY GREAT”INSANELY GREAT”STEVE JOBSSTEVE JOBS
“RADICALLY THRILLING” “RADICALLY THRILLING” BMW
““Normal” =Normal” = “0 “0 forfor 800” 800”
*There are … *There are … ZEROZERO … “normal people” in the history books. … “normal people” in the history books.
““The reasonable man adapts The reasonable man adapts himself to the world; the himself to the world; the
unreasonable one persists in unreasonable one persists in trying to adapt the world to trying to adapt the world to
himself. Therefore all progress himself. Therefore all progress depends on the unreasonable depends on the unreasonable man.”man.” —G.B. Shaw,—G.B. Shaw, Man and Superman: The Revolutionist’s Man and Superman: The Revolutionist’s
HandbookHandbook
““Whenever anything is being Whenever anything is being accomplished, it is being done, I accomplished, it is being done, I have learned, by a monomaniac have learned, by a monomaniac
with a mission.”with a mission.” —Peter Drucker—Peter Drucker
!