Welcome to Tom Peters “PowerPoint World”! Welcome to Tom Peters “PowerPoint World”! Beyond the set of slides Beyond the set of slides here, you will find at here, you will find at tompeters.com tompeters.com the last eight years of the last eight years of presentations, a basketful of “Special Presentations,” and, above presentations, a basketful of “Special Presentations,” and, above all, Tom’s all, Tom’s constantly updated constantly updated Master Presentation Master Presentation —from which most of —from which most of the slides in this presentation are drawn. There are about 3,500 the slides in this presentation are drawn. There are about 3,500 slides in the 7-part “Master Presentation.” The first five slides in the 7-part “Master Presentation.” The first five “chapters” constitute the main argument: “chapters” constitute the main argument: Part I Part I is context. is context. Part II Part II is devoted entirely to innovation—the is devoted entirely to innovation—the sine qua non, as perhaps never before, of survival. In earlier sine qua non, as perhaps never before, of survival. In earlier incarnations of the “master,” “innovation” “stuff” was scattered incarnations of the “master,” “innovation” “stuff” was scattered throughout the presentation—now it is front and center and a stand- throughout the presentation—now it is front and center and a stand- alone. alone. Part III Part III is a variation on the innovation theme—but it is is a variation on the innovation theme—but it is organized to examine the imperative (for most everyone in the organized to examine the imperative (for most everyone in the developed-emerging world) of an ultra high value-added strategy. A developed-emerging world) of an ultra high value-added strategy. A “value-added ladder” (the “ladder” configuration lifted with “value-added ladder” (the “ladder” configuration lifted with gratitude from Joe Pine and Jim Gilmore’s gratitude from Joe Pine and Jim Gilmore’s Experience Economy Experience Economy ) lays out ) lays out a specific logic for necessarily leaving commodity-like goods and a specific logic for necessarily leaving commodity-like goods and services in the dust. services in the dust. Part IV Part IV argues that in this age of “micro- argues that in this age of “micro- marketing” there are two marketing” there are two macro macro -markets of astounding size that are -markets of astounding size that are dramatically under-attended by all but a few; namely women and dramatically under-attended by all but a few; namely women and boomers-geezers. boomers-geezers. Part V Part V underpins the overall argument with the underpins the overall argument with the necessary bedrock—Talent, with brief consideration of Education & necessary bedrock—Talent, with brief consideration of Education & Healthcare. Healthcare. Part VI Part VI examines Leadership for turbulent times from examines Leadership for turbulent times from several angles. several angles. Part VII Part VII is a collection of a dozen Lists—such as is a collection of a dozen Lists—such as Tom’s “Irreducible 209,” 209 “things I’ve learned along the way.” Tom’s “Irreducible 209,” 209 “things I’ve learned along the way.” Enjoy! Download! “Steal”—that’s the whole point! Enjoy! Download! “Steal”—that’s the whole point!
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Welcome to Tom Peters “PowerPoint World”!Welcome to Tom Peters “PowerPoint World”! Beyond the set of slides Beyond the set of slides here, you will find at here, you will find at tompeters.comtompeters.com the last eight years of the last eight years of presentations, a basketful of “Special Presentations,” and, above all, presentations, a basketful of “Special Presentations,” and, above all, Tom’s Tom’s constantly updatedconstantly updated Master PresentationMaster Presentation—from which most of the —from which most of the slides in this presentation are drawn. There are about 3,500 slides in slides in this presentation are drawn. There are about 3,500 slides in the 7-part “Master Presentation.” The first five “chapters” constitute the 7-part “Master Presentation.” The first five “chapters” constitute the main argument: the main argument: Part IPart I is context. is context. Part IIPart II is devoted entirely to innovation—the sine qua is devoted entirely to innovation—the sine qua non, as perhaps never before, of survival. In earlier incarnations of the non, as perhaps never before, of survival. In earlier incarnations of the “master,” “innovation” “stuff” was scattered throughout the “master,” “innovation” “stuff” was scattered throughout the presentation—now it is front and center and a stand-alone. presentation—now it is front and center and a stand-alone. Part IIIPart III is a is a variation on the innovation theme—but it is organized to examine the variation on the innovation theme—but it is organized to examine the imperative (for most everyone in the developed-emerging world) of an imperative (for most everyone in the developed-emerging world) of an ultra high value-added strategy. A “value-added ladder” (the “ladder” ultra high value-added strategy. A “value-added ladder” (the “ladder” configuration lifted with gratitude from Joe Pine and Jim Gilmore’s configuration lifted with gratitude from Joe Pine and Jim Gilmore’s Experience EconomyExperience Economy) lays out a specific logic for necessarily leaving ) lays out a specific logic for necessarily leaving commodity-like goods and services in the dust. commodity-like goods and services in the dust. Part IVPart IV argues that in argues that in this age of “micro-marketing” there are two this age of “micro-marketing” there are two macromacro-markets of -markets of astounding size that are dramatically under-attended by all but a few; astounding size that are dramatically under-attended by all but a few; namely women and boomers-geezers. namely women and boomers-geezers. Part VPart V underpins the overall underpins the overall argument with the necessary bedrock—Talent, with brief consideration argument with the necessary bedrock—Talent, with brief consideration of Education & Healthcare. of Education & Healthcare. Part VI Part VI examines Leadership for turbulent examines Leadership for turbulent times from several angles.times from several angles. Part VII Part VII is a collection of a dozen Lists— is a collection of a dozen Lists—such as Tom’s “Irreducible 209,” 209 “things I’ve learned along the such as Tom’s “Irreducible 209,” 209 “things I’ve learned along the way.”way.”
Enjoy! Download! “Steal”—that’s the whole point!Enjoy! Download! “Steal”—that’s the whole point!
NOTENOTE:: To appreciateTo appreciate this presentation this presentation [and ensure [and ensure
that it is not a that it is not a messmess],], you need you need Microsoft fonts:Microsoft fonts:
World Marketing and Innovation ForumWorld Marketing and Innovation ForumBarcelona/14 November 2007Barcelona/14 November 2007
**In Search of ExcellenceIn Search of Excellence 1982-2007 1982-2007
The “guru The “guru GaffeGaffess” “hall of ” “hall of
shame”: the shame”: the “Over-rated “Over-rated
Eight”!Eight”!
The “Over-rated Eight”:The “Over-rated Eight”:
Big companies!Public companies! “Cool” industries!
Stability!Famous CEOs!“Hard” stuff!“Success”!
Plans!
Over-rated:Over-rated:
Big companies
!Public companies! “Cool” industries!
Stability!Famous CEOs!“Hard” stuff!“Success”!
Plans!
“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: Buy a Buy a very large one very large one and just waitand just wait.”.”
—Paul Ormerod, Why Most Things Fail: Evolution, Extinction and Economics
Dick Kovacevich: You don’t You don’t get better by get better by being bigger. being bigger.
You get You get worse.”worse.”
““Despite a decade of Despite a decade of banking mergers, there is banking mergers, there is
no evidence that big banks that big banks are any more efficient or are any more efficient or
profitable than their smaller profitable than their smaller rivals.”rivals.” —Financial Times,—Financial Times, 0329.07, on 0329.07, on
possible Barclays-ABN Amro merger possible Barclays-ABN Amro merger (“When it (“When it comes to asking the stock market whether comes to asking the stock market whether
bigger banks are better, bigger banks are better, the current answer is a resounding ‘no.” —Citigroup analysis, 2006) —Citigroup analysis, 2006)
““The Bigger They The Bigger They Are: Toyota Takes Are: Toyota Takes
a Tumble on a Tumble on Quality”Quality” —headline, —headline, International International
HeraldHerald, 1103-4.07, 1103-4.07
““Hope For Hope For Breakup Breakup
Advocates”Advocates” —headline, FT, —headline, FT, 1105.07, re Citigroup1105.07, re Citigroup
““Jeff Bewkes, the Next Jeff Bewkes, the Next Boss of Time-Warner, Boss of Time-Warner, Is Likely to Break Up Is Likely to Break Up the Company”the Company” —headline, —headline,
EconomistEconomist, 1110.07, 1110.07
““Mr. Foster and his McKinsey Mr. Foster and his McKinsey colleagues collected detailed colleagues collected detailed
performance data stretching back performance data stretching back 4040 years for years for 1,0001,000 U.S. companies. U.S. companies. TheTheyy
found that found that none none of the of the lonlongg-term survivors mana-term survivors managged to ed to
outoutpperform the market. Worse, the erform the market. Worse, the lonlongger comer comppanies had been in the anies had been in the
database, the worse thedatabase, the worse theyy did did.” .” —Financial —Financial TimesTimes
#1 Exporter?#1 Exporter?
#4 Japan#4 Japan
#4 Japan#4 Japan#2T China#2T China#2T USA#2T USA
#4 Japan#4 Japan#2T china#2T china#2t USA#2t USA
#1 #1 GermanyGermany
Reason?Reason?
Daimler?Daimler?BASF?BASF?
Siemens?Siemens?Commerzbank?Commerzbank?
Reason!!!Reason!!!
MittelstandMittelstand
Or …Or … Goldmann Goldmann ProduktionProduktion
ss(11/50%/$5M/”dip and coat,” expensive (11/50%/$5M/”dip and coat,” expensive
pigments vs “through coloring,” fadesBekro pigments vs “through coloring,” fadesBekro Chemie)Chemie)
BavariaBavaria: Mittelstand within Mittelstand: Mittelstand within Mittelstand“Place to start over” post-WWII“Place to start over” post-WWII
13 million13 million66thth in EU if stand-alone in EU if stand-alone (CA #5)
4% unemployment4% unemploymentMunich government pro-businessMunich government pro-business
30 universities 30 universities (3 of 3 leading in R&D, with Baden-(3 of 3 leading in R&D, with Baden-Wuerttemberg)Wuerttemberg)
50% German patents 50% German patents (with Baden-Wuerttemberg)(with Baden-Wuerttemberg)SMEs & Big CosSMEs & Big Cos
“Hot” finance communities“Hot” finance communities“lion’s share” of German startups“lion’s share” of German startups
Media startups Media startups (SF: tech + media)
Source: Source: CNBC European BusinessCNBC European Business, November 2007, November 2007
““It suddenly It suddenly occurred to me …occurred to me …
““It suddenly occurred It suddenly occurred to me that in the to me that in the
space of two or three space of two or three hours he hours he nevernever
talked about cars.”talked about cars.” —Les —Les
WexnerWexner
Did one of ’em ever turn to the other and say: “Wow I “Wow I
wonder what wonder what unimaginable new unimaginable new
tools, tools, otherwise not otherwise not ppossibleossible, will be , will be
Family BusinessesFamily BusinessesTwo-thirds of total #sTwo-thirds of total #s of companies of companiesOne-half of biggest companiesOne-half of biggest companies>One-half GDP>One-half GDP>One-half employment>One-half employment6% more profitable6% more profitable7% better ROA7% better ROAHigher income growthHigher income growthHigher revenue growthHigher revenue growthSource: John Davis, HBSSource: John Davis, HBS
““The growth and The growth and success of women-success of women-
owned businesses is owned businesses is one of the most one of the most
profound changes profound changes takingtaking place in the place in the
business worldbusiness world today.”today.” —Margaret Heffernan, How She Does It
9494%% of loans to of loans to ……
womenwomen****MMicrolending; “Banker to the poor”; Grameen Bank; icrolending; “Banker to the poor”; Grameen Bank;
Muhammad Yunus; 2006 Nobel Peace Prize winnerMuhammad Yunus; 2006 Nobel Peace Prize winner
Note: Download, free, Jim Penman’s book: What Will They Franchise Next? The Story of Jim’s Group
etc.etc.
PRSX/Paragon PRSX/Paragon Railcar Railcar
Salvage*Salvage**Salvaged railcars into bridges, etc.*Salvaged railcars into bridges, etc.
**Lived in same town all adult lifeLived in same town all adult life*First generation that’s wealthy/*First generation that’s wealthy/ no parental support no parental support*“Don’t look like millionaires, don’t dress*“Don’t look like millionaires, don’t dress like millionaires, don’t eat like like millionaires, don’t eat like millionaires, don’t act like millionaires” millionaires, don’t act like millionaires”*“Many of the types of businesses [they]*“Many of the types of businesses [they] are in could be classified as ‘dull- are in could be classified as ‘dull- normal.’ normal.’ [They] are welding contractors, [They] are welding contractors, auctioneers, scrap-metal dealers, lessors of auctioneers, scrap-metal dealers, lessors of portable toilets, dry cleaners, re-builders of portable toilets, dry cleaners, re-builders of diesel engines, paving contractors …” diesel engines, paving contractors …”Source: Source: The Millionaire Next DoorThe Millionaire Next Door,, Thomas Stanley & William Danko Thomas Stanley & William Danko
The “Over-rated Eight”:The “Over-rated Eight”:
Big companies!Public companies!
“Cool” industries!
Stability!Famous CEOs!“Hard” stuff!“Success”!
Plans!
The The lastlast word: word: There There is is nono “last “last
word.”word.”
Headline, Wall Street Journal, 3 October 2007: “Wal*Mart Era Wanes
Amid Big Shifts In Retail: Rivals Find Strategies To Defeat Low Prices; World Has Changed”
Sentence #1: “The Wal*Mart Era, the retailer’s time of overwhelming business and social influence in America, is drawing to a close.”
Cover, Cover, NewsweekNewsweek, 05 November 2007:, 05 November 2007: “Takedown? ONCE HAILED AS “Takedown? ONCE HAILED AS
A WORLDBEATER, THE A WORLDBEATER, THE INTERNET COLOSSUS NOW INTERNET COLOSSUS NOW HAS REAL RIVALS ALL OVER HAS REAL RIVALS ALL OVER
THE WORLD.”THE WORLD.”
[text followed by a massive rendition of the Google logo][text followed by a massive rendition of the Google logo]
““Natural selection is death. ... Natural selection is death. ... Without huge amounts Without huge amounts of death, organisms do of death, organisms do not change over time.not change over time. ... ...
Death is the mother of Death is the mother of structure. ... It took four structure. ... It took four
billion years of death ... to billion years of death ... to invent the human mind ...”invent the human mind ...” — —
The Cobra EventThe Cobra Event
TP#1*:TP#1*:
NetscapeNetscape
!!*Where would you rather have worked for those 5 years, Netscape*Where would you rather have worked for those 5 years, Netscape
or IBM-HP-Microsoft-Oracle? (Where, 25 years from now, would you or IBM-HP-Microsoft-Oracle? (Where, 25 years from now, would you rather to be able to tell someone—e.g., grandchild—that you worked?) rather to be able to tell someone—e.g., grandchild—that you worked?)
**Lived in same town all adult lifeLived in same town all adult life**First generation that’s wealthy/First generation that’s wealthy/ no parental supportno parental support**“Don’t “Don’t looklook like millionaires, don’t like millionaires, don’t dressdress like millionaires, don’t like millionaires, don’t eateat like like millionaires, don’t millionaires, don’t actact like millionaires like millionaires””*“Many of the types of businesses [they] are in could be*“Many of the types of businesses [they] are in could be classified as ‘dull-normal.’ [They] are welding contractors, classified as ‘dull-normal.’ [They] are welding contractors, auctioneers, scrap-metal dealers, lessors of portable toilets, auctioneers, scrap-metal dealers, lessors of portable toilets, dry cleaners, re-builders of diesel engines, paving dry cleaners, re-builders of diesel engines, paving contractors …” contractors …”
Source: Source: The Millionaire Next DoorThe Millionaire Next Door,, Thomas Stanley & William Danko Thomas Stanley & William Danko
The “Over-rated Eight”:The “Over-rated Eight”:
Big companies!Public companies!
“Cool” industries!Stability!
Famous CEOs!
“Hard” stuff!
“Success”!Plans!
Hard Is SoftHard Is SoftSoft Is HardSoft Is Hard
Hard Is Hard Is SoftSoft (Plans, (Plans, ##ss))
Soft Is Soft Is HardHard (people, (people, customers, values, customers, values,
CDOs/Consolidated-CDOs/Consolidated-debt Obligationdebt Obligation (Value of(Value of
underlying asset??????) underlying asset??????) (Value of (Value of $64B “super-senior” [“super-safe”] $64B “super-senior” [“super-safe”]
CDOs at Citi???????)CDOs at Citi???????) Postscript: Bye, bye Stan/Merrill and Chuck/Citi. Postscript: Bye, bye Stan/Merrill and Chuck/Citi.
You’re gonna have to learn to live on $100 million You’re gonna have to learn to live on $100 million or so [Stan/$160M severance], I guess.or so [Stan/$160M severance], I guess.
Hard Is Hard Is SoftSoft (Plans, (Plans, ##ss))
Soft Is Soft Is HardHard (people, (people, customers, values, customers, values,
relationships))relationships))
“If I could have chosen not to tackle the IBM culture head-on, I probably wouldn’t have. My bias coming in was toward strategy, analysis and measurement. In comparison, changing the attitude and behaviors of hundreds of thousands of people is very, very hard. [Yet] I came to see in my time at IBM that culture
isn’t just one aspect of the game ——it is the it is the gamegame.”.” —Lou Gerstner,
Who Says Elephants Can’t Dance
Hard Is SoftHard Is SoftSoft Is HardSoft Is Hard
9595%%
95%:95%:
“Understanding “Understanding the mind’s eye of the mind’s eye of another person”another person”
““What I learned from my years What I learned from my years as a hostage3 negotiator is that as a hostage3 negotiator is that
we do not have to feel we do not have to feel powerless—and that powerless—and that
bondinbondingg is the antidote to is the antidote to the hostage situation.”the hostage situation.” —George —George
Kohlrieser, Kohlrieser, Hostage at the TableHostage at the Table
““You can make more You can make more friends in two months friends in two months bbyy becominbecomingg interested in interested in
other other ppeoeopple thanle than you can you can in two years by trying to in two years by trying to
get other people get other people interested in you.”interested in you.” —Dale
Carnegie
““It was much later that I realized It was much later that I realized Dad’s secret. He gained respect by Dad’s secret. He gained respect by giving it. He talked and listened to giving it. He talked and listened to
the fourth-grade kids in Spring Valley the fourth-grade kids in Spring Valley who shined shoes the same way he who shined shoes the same way he talked and listened to a bishop or a talked and listened to a bishop or a
college president. college president. He was He was seriously interested in seriously interested in
who you were and what who you were and what you had to sayyou had to say.”.”
Sara Lawrence-Lightfoot, Respect
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, World Business, “Say It Like a Woman: Why the 21st-century negotiator will need the female touch”
““The capacity to develop close and The capacity to develop close and enduring relationships is the mark of enduring relationships is the mark of a leader. Unfortunately, many leaders a leader. Unfortunately, many leaders of major companies believe their job of major companies believe their job is to create the strategy, organization is to create the strategy, organization
structure and organizational structure and organizational processes—processes—then thethen theyy jjust deleust deleggate ate
the work to be done, remaininthe work to be done, remainingg aloof aloof from the from the ppeoeopple doinle doingg
the workthe work.”.” —Bill George, —Bill George, Authentic LeadershipAuthentic Leadership
““Why is it that your average business person has such a Why is it that your average business person has such a hard time being human? I often wonder if the sole point hard time being human? I often wonder if the sole point of business language is to de-humanize those doing of business language is to de-humanize those doing business. I struggle to find another explanation.business. I struggle to find another explanation.
““To the rest of the world, emotion is a normal, everyday, To the rest of the world, emotion is a normal, everyday, important part of life... and people who don't get that important part of life... and people who don't get that are generally considered jerks. Only managers don't get are generally considered jerks. Only managers don't get this. this. ““I've found that the simplest (and most powerful) I've found that the simplest (and most powerful) competitive advantage comes from competitive advantage comes from CARINGCARING.. Genuinely Genuinely caring about people (customers and partners) covers a caring about people (customers and partners) covers a multitude of other shortcomings. multitude of other shortcomings. CARINGCARING about people about people is the best ‘marketing strategy’ and the best is the best ‘marketing strategy’ and the best ‘management method.’ …‘management method.’ …““The funny thing is that in such a soulless business The funny thing is that in such a soulless business climate, climate, CARINGCARING is that much more competitive—and is that much more competitive—and translates nicely to financial performance as well! It also translates nicely to financial performance as well! It also translates into a much fuller and happier life …”translates into a much fuller and happier life …”
Posted at tompeters.com by AJ Hoge at November 12, 2007 8:11 PMPosted at tompeters.com by AJ Hoge at November 12, 2007 8:11 PM
Hard Is SoftHard Is SoftSoft Is HardSoft Is Hard
TP: TP: “How to flush
$500,000 down
the toilet in one easy
lesson!!”
< CAPEX< CAPEX> People!> People!
WegmansWegmans
#1/10#1/1000
““Best Companies toBest Companies to Work for” Work for”//20052005
Hard Is SoftHard Is SoftSoft Is HardSoft Is Hard
“A man without A man without a smiling face a smiling face
must not open a must not open a shop.”shop.” —Chinese Proverb
““I can’t tell I can’t tell yyou how manou how manyy times we times we ppassed uassed upp hotshots hotshots
for for gguuyys we thous we thougght were better ht were better ppeoeopplele, and watched our guys do a lot better , and watched our guys do a lot better
than the big names, not just in the classroom, but on than the big names, not just in the classroom, but on the field—and, naturally, after they graduated, too. the field—and, naturally, after they graduated, too. Again and again, the blue chips faded out, and our Again and again, the blue chips faded out, and our
little up-and-comers clawed their way to all-little up-and-comers clawed their way to all-conference and All-America teams.”conference and All-America teams.” —Bo —Bo
Schembechler (and John Bacon), “Recruit for Schembechler (and John Bacon), “Recruit for Character,” Character,” Bo’s Lasting LessonsBo’s Lasting Lessons
““Character is more crucial now Character is more crucial now than ever, because in times of than ever, because in times of
great uncertainty past great uncertainty past performance is no indicator of performance is no indicator of
future performance. future performance. Experience falls away and all Experience falls away and all
you’re left with is character.” you’re left with is character.” ——David Rothkopf, founder of a firm that helps helps chief David Rothkopf, founder of a firm that helps helps chief
executives manage risksexecutives manage risks
Hard Is SoftHard Is SoftSoft Is HardSoft Is Hard
2255
MBWAMBWA
You = Your You = Your calendarcalendar***Calendars *Calendars nevernever lielie
Hard Is SoftHard Is SoftSoft Is HardSoft Is Hard
R.O.I.RR.O.I.R..
RReturn eturn OOn n IInvestment In nvestment In RRelationshipselationships
““TAKE THIS QUICK QUIZTAKE THIS QUICK QUIZ: Who manages more Who manages more things at once?things at once? Who puts more effort into their Who puts more effort into their appearance?appearance? Who usually takes care of the Who usually takes care of the
details?details? Who finds it easier to meet new Who finds it easier to meet new people?people? Who asks more questions in a Who asks more questions in a
conversation?conversation? Who is a better listener?Who is a better listener? Who Who has more interest in communication skills?has more interest in communication skills? Who is more inclined to get involved?Who is more inclined to get involved? Who Who encourages harmony and agreement?encourages harmony and agreement? Who Who
has better intuition?has better intuition? Who works with a longer Who works with a longer ‘to do’ list?‘to do’ list? Who enjoys a recap to the day’s Who enjoys a recap to the day’s events?events? Who is better at keeping in touchWho is better at keeping in touch
with others?”with others?”Source: Selling Is a Woman’s Game: 15 Powerful Reasons WhySelling Is a Woman’s Game: 15 Powerful Reasons Why
Women Can Outsell MenWomen Can Outsell Men, Nicki Joy & Susan Kane-Benson, Nicki Joy & Susan Kane-Benson
C(I) > C(I) > C(E)C(E)
““Courtesies of a small Courtesies of a small and trivial character are and trivial character are
the ones which strike the ones which strike deepest in the grateful deepest in the grateful
and appreciating heart.”and appreciating heart.”
—Henry Clay
The Manager’s The Manager’s Book of Book of DecenciesDecencies: :
How Small How Small /gestures Build /gestures Build
Great Companies.Great Companies. —Steve Harrison, Adecco
““The deepest The deepest human need is human need is the need to be the need to be appreciated.”appreciated.”
William JamesWilliam James
Relationships (of all varieties): THERE THERE ONCE WAS A TIME WHEN A ONCE WAS A TIME WHEN A
THREETHREE--MINUTEMINUTE PHONEPHONE CALLCALL WOULD HAVE AVOIDED WOULD HAVE AVOIDED
SETTING OFF THE DOWNWARD SETTING OFF THE DOWNWARD SPIRAL THAT RESULTED IN A SPIRAL THAT RESULTED IN A
COMPLETE RUPTURE.COMPLETE RUPTURE.
THE PROBLEM IS THE PROBLEM IS RARELY/NEVER THE RARELY/NEVER THE
PROBLEM.PROBLEM. THE THE RESPONSE TO THE RESPONSE TO THE
PROBLEM INVARIABLY PROBLEM INVARIABLY ENDS UP BEING THE ENDS UP BEING THE
REAL PROBLEMREAL PROBLEM.
““As you predicted …”As you predicted …”“My mind is like a sieve …”“My mind is like a sieve …”
“Well, looks like we blew it …” “Well, looks like we blew it …” [“No, no. Us!” “There’s blame [“No, no. Us!” “There’s blame
enough to go around.”]enough to go around.”]
“I’m really “I’m really sorry.”sorry.”
Hard Is SoftHard Is SoftSoft Is HardSoft Is Hard
““So why don’t we do this ‘obvious So why don’t we do this ‘obvious stuff’?”stuff’?”
Considered “soft.” Immediate priorities Considered “soft.” Immediate priorities get in the way. The B-school idea of get in the way. The B-school idea of
business pervades. Comfort hanging out business pervades. Comfort hanging out in our own confines. Easier. in our own confines. Easier.
Uncomfortable with the “relationship Uncomfortable with the “relationship stuff.” “Problem solvers,” not “listeners” stuff.” “Problem solvers,” not “listeners”
[“the 18-second Doc]; impatient, not [“the 18-second Doc]; impatient, not patient. Not the “sales type.” Like #s better patient. Not the “sales type.” Like #s better
than people. Damned hard work unless than people. Damned hard work unless you take to it instinctively. Etc.you take to it instinctively. Etc.
Answer/s?Answer/s?Formal “calendar discipline.” A new “to-Formal “calendar discipline.” A new “to-do list.” A “Life coach”/Formal mentor do list.” A “Life coach”/Formal mentor
(weekly, daily if you can afford it). (weekly, daily if you can afford it). Support group. If male, woman pal. Support group. If male, woman pal.
Training—incl. role play. Adopt Stephen Training—incl. role play. Adopt Stephen Covey or Marshall Goldsmith. Report Covey or Marshall Goldsmith. Report
card. Constant, informal as well as card. Constant, informal as well as formal “360 feedback.” A great “gotcha formal “360 feedback.” A great “gotcha pal”—eg monitors meetings, goes on pal”—eg monitors meetings, goes on
“sales” calls. Sales training!!!!! “sales” calls. Sales training!!!!! Volunteer community leadership work. Volunteer community leadership work.
Fundraising!Fundraising!
Hard Is SoftHard Is SoftSoft Is HardSoft Is Hard
“Design is treated like treated like a religiona religion at
**Minister for **Minister for DesignDesign***Deputy Prime Minister for ***Deputy Prime Minister for DesignDesign and and CreativityCreativity
Hard Is SoftHard Is SoftSoft Is HardSoft Is Hard
““The sun is setting on the Information Society—even The sun is setting on the Information Society—even before we have fully adjusted to its demands as before we have fully adjusted to its demands as
individuals and as companies. We have lived as hunters individuals and as companies. We have lived as hunters and as farmers, we have worked in factories and now we and as farmers, we have worked in factories and now we
live in an information-based society whose icon is the live in an information-based society whose icon is the
computer. computer. We stand facinWe stand facingg the fifth kind of societthe fifth kind of society: y: the Dream Societthe Dream Society.y. … Future … Future
products will have to appeal to our hearts, not to our products will have to appeal to our hearts, not to our heads. Now is the time to add emotional value to heads. Now is the time to add emotional value to
products and services.”products and services.” Rolf Jensen/ Rolf Jensen/The Dream Society:How the Coming Shift from The Dream Society:How the Coming Shift from
Information to Imagination Will Transform Your BusinessInformation to Imagination Will Transform Your Business
Excellence1982: The Bedrock “Eight Basics”Excellence1982: The Bedrock “Eight 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 Properties” Properties”
*Forbes/Excellence Index /Basket of 32 publicly traded stocks
EXCELLENCE. EXCELLENCE. ASPIRATION.ASPIRATION.
2006.2006.
Why in Why in the the World did World did youyou go to go to SiberiaSiberia??
EnterpriseEnterprise* ** (*at its best):* ** (*at its best): An An emotionalemotional, , vitalvital, , innovativeinnovative, , jojoyyfulful, , creativecreative, , entreentreppreneurialreneurial endeavor endeavor that elicits maximum that elicits maximum
concerted humanconcerted human potential in the potential in the wholeheartedwholehearted serviceservice of others of others.****Employees, Customers, Suppliers, Communities, Owners, Temporary partners**Employees, Customers, Suppliers, Communities, Owners, Temporary partners
““I have always I have always believed that the believed that the
purpose of the purpose of the corporation is to be a corporation is to be a
blessing to the blessing to the employees.”employees.” * * —Boyd Clarke—Boyd Clarke
*TP: An “organization” is, in fact and after all*TP: An “organization” is, in fact and after all is said and done, a/the “house” in which is said and done, a/the “house” in which
most of us “live” most of the time. most of us “live” most of the time.
Organizations exist to serve. Period.Organizations exist to serve. Period.Leaders live to serve. Period.Leaders live to serve. Period.
Passionate servant leaders, determined to create a Passionate servant leaders, determined to create a legacy of earthshaking transformation in their domainlegacy of earthshaking transformation in their domain create/must create/must necessarilynecessarily create organizations which create organizations which
are …are … no less than Cathedrals in no less than Cathedrals in which the full and awesome which the full and awesome
power of the Imagination and power of the Imagination and Spirit and native Spirit and native
Entrepreneurial flairEntrepreneurial flair of of diverse individualsdiverse individuals is is
unleashedunleashed … … In passionate pursuit of jointly In passionate pursuit of jointly perceived soaring purposeperceived soaring purpose and personal and and personal and
community and client service Excellence. community and client service Excellence.
““We are a We are a ‘Life ‘Life
Success’ Success’ Company.”Company.”
Dave Liniger, founder, RE/MAX
EXCELLENCEEXCELLENCE..
“the rules.”“the rules.”
CauseCause (worthy of commitment)(worthy of commitment)
service service (worthy of our clients’ & extended (worthy of our clients’ & extended family’s continuing custom) family’s continuing custom)
excellenceexcellence (period) (period)
servant servant leadership leadership
CauseCause
SpaceSpace
DecencyDecency
serviceserviceexcellenceexcellence
servant leadership servant leadership
If not If not “Excellence,“Excellence,
” what?” what?
The “Over-rated Eight”:The “Over-rated Eight”:
Big companies!Public companies!
“Cool” industries!Stability!
Famous CEOs!“Hard” stuff!“Success”!
Plans!
What makes What makes God laugh?God laugh?
PeoplePeople makingmaking plans!plans!
EXCELLENCEEXCELLENCE..
“one idea.” “one idea.”1966-2007.1966-2007.
try it. Try it. Try it. try it. Try it. Try it. Try it. Try it. Try it.Try it. Try it. Try it.
Try it. Try it. Try it. Try it. Screw it Screw it up.up. Try it. Try it. Try Try it. Try it. Try
it. Try it. Try it. Try it. it. Try it. Try it. Try it. Try it. Try it. Screw it up.Screw it up. it. it.
Try it. Try it. try it. Try it. Try it. try it. Try it.Try it. Screw it up.Screw it up. Try it. Try it. Try it. Try it. Try it. Try it.
drill.drill.
“This is so simple it sounds stupid, but it is amazing how few oil people really
understand that you only you only find oil if you find oil if you drill wellsdrill wells.. You may
think you’re finding it when you’re drawing maps and
studying logs, but you have to drill.”
Source: The Hunters, by John Masters, Canadian O & G wildcatter
try try things.things.
““We made mistakes, of course. Most of them were We made mistakes, of course. Most of them were omissions we didn’t think of when we initially wrote the omissions we didn’t think of when we initially wrote the
software. software. We fixed them by doing it over and over, We fixed them by doing it over and over, again and again.again and again. We do the same today. While our We do the same today. While our competitors are still sucking their thumbs trying to competitors are still sucking their thumbs trying to
make the design perfect, we’re already on prototype make the design perfect, we’re already on prototype
versionversion ##55.. By the time our rivals areBy the time our rivals are ready with wires and screws, we are on versionready with wires and screws, we are on version
##1010.. It gets back to It gets back to planning versus actingplanning versus acting: : We act We act from day onefrom day one; ; others plan how others plan how toto planplan——for monthsfor months.”.” —Bloomberg by —Bloomberg by
BloombergBloomberg
Culture of PrototypingCulture of Prototyping
“Effective prototyping may “Effective prototyping may be be thethe most most
valuablevaluable core core competencecompetence an an
innovative organization can innovative organization can hope to have.”hope to have.” —Michael Schrage—Michael Schrage
““RewardReward excellent failures.
PunishPunish mediocre
successes.”Phil Daniels, Sydney exec
““Learn not Learn not to be to be
careful.”careful.”
—Photographer Diane Arbus to her students (Careful = The sidelinesCareful = The sidelines, from
I proceeded by trial and error and instinct, I proceeded by trial and error and instinct, and each experiment led to/suggested and each experiment led to/suggested
another experiment (or 2 or 10) and to a another experiment (or 2 or 10) and to a greater understanding of potential—the greater understanding of potential—the
“plan,” though there was none, made itself. “plan,” though there was none, made itself. And it was far, far better (more ambitious, And it was far, far better (more ambitious, more interestinmore interestingg, more satisfyin, more satisfyingg) than I ) than I
would have imawould have imagginedined. In fact, the result to . In fact, the result to date bears little or no relationship to what I date bears little or no relationship to what I
was thinking about at the start—a trivial self-was thinking about at the start—a trivial self-designed chore may become the engine of my designed chore may become the engine of my
next decade; the “brushcutting project” is next decade; the “brushcutting project” is now leading Susan and I to view our now leading Susan and I to view our
entire property, and what it might become-entire property, and what it might become-represent, in a new light.represent, in a new light.
EXCELLENCEEXCELLENCE..
the the “Lessons.”“Lessons.”1966-2007.1966-2007.
4/404/40
DECENTRALIZATIONDECENTRALIZATION..
EXECUTION.EXECUTION.ACCOUTABILITY.ACCOUTABILITY.
66:15A.M. :15A.M.
Ex-e-Ex-e-cu-cu-
tion!tion!
““ExecutionExecution is is thethe jobjob of the of the
Charan/ Execution: The Discipline of Getting Things Done
Conrad Hilton, at a gala celebrating his life,Conrad Hilton, at a gala celebrating his life, was asked, “What was the most important lesson you’ve learned was asked, “What was the most important lesson you’ve learned
in your long and distinguished career?” in your long and distinguished career?”
His immediate answer: His immediate answer: ““remember remember to tuck the to tuck the
shower curtain shower curtain inside the inside the bathtubbathtub””
The “Over-rated Eight”:The “Over-rated Eight”:
Big companies!Public companies! “Cool” industries!
The “Nonsense Nine”:The “Nonsense Nine”:Big companies!
Public companies! “Cool” industries!
Stability!Famous CEOs!“Hard” stuff!“Success”!
Plans!
Men!
““THE NEW GENDER THE NEW GENDER GAP: From kinder-GAP: From kinder-
garten to grad garten to grad school, boys are school, boys are
becoming the becoming the second sex”second sex” —Cover story,
BusinessWeek
““Forget Forget ChinaChina, , IndiaIndia and the and the
InternetInternet: Economic : Economic Growth Is Driven Growth Is Driven
by by WomenWomen.”.” —Headline, Economist, April 15, 2006, Leader, page 14
““Women Women areare thethe
majority majority market”market”
—Fara Warner/—Fara Warner/The Power of the PurseThe Power of the Purse
Repeat:Repeat: “Goldman Sachs in Tokyo “Goldman Sachs in Tokyo has developed an index of 115 has developed an index of 115 companies poised to benefit companies poised to benefit
from women’s increased from women’s increased purchasing power; purchasing power; over the past over the past
decade the value of shares in decade the value of shares in Goldman’s basket has risen by Goldman’s basket has risen by
96%, against the Tokyo 96%, against the Tokyo stockmarket’s rise stockmarket’s rise
Bank Account … 89%Bank Account … 89%Household investment decisions … 67%Household investment decisions … 67%Small business loans/biz starts … 70%Small business loans/biz starts … 70%
Health Care … 80%Health Care … 80%
““The The most most significant variablesignificant variable inin everyevery sales situation is sales situation is thethe gendergender of the buyer, of the buyer, and more importantly, how and more importantly, how
the salesperson the salesperson communicates to the communicates to the
buyer’s gender.”buyer’s gender.” —Jeffery Tobias Halter, Selling to Men, Selling to Women
The Perfect AnswerJill and Jack buy
slacks in black…
Selling to men:Selling to men: The The TRANSACTIONTRANSACTION Model ModelSelling to Women:Selling to Women: The The RELATIONALRELATIONAL Model Model
Source: Source: Selling to Men, Selling to WomenSelling to Men, Selling to Women, Jeffery Tobias Halter, Jeffery Tobias Halter
Cases! Cases! Cases!Cases! Cases! Cases!McDonald’sMcDonald’s (“mom-centered” to “majority consumer”;
not via kids)
Home DepotHome Depot (“Do it [everything!] Herself”)
P&GP&G (more than “house cleaner”)
DeBeersDeBeers (“right-hand rings”/$4B)
AXA FinancialAXA FinancialKodakKodak (women = “emotional centers of the household”)
NikeNike (> jock endorsements; new def sports; majority consumer)
AvonAvonBratzBratz (young girls want “friends,” not a blond stereotype)
Source: Fara Warner/Fara Warner/The Power of the PurseThe Power of the Purse
“We simply had
stopped being
relevant to women.”
—Kay Napier, SVP Marketing (Fara Warner, The Power of the Purse, “From Minority to Majority: McDonald’s Discovers the
Woman Inside the Mom”)
“Mostly Moms”““Women were either ignored Women were either ignored in favor of focusing on men—in favor of focusing on men—
generally considered the generally considered the industry’s most frequent industry’s most frequent
users and therefore its most users and therefore its most important important consumers—or theconsumers—or theyy were cast in the role of moms were cast in the role of moms who were simplwho were simplyy conduits to conduits to
their childrentheir children.”.” —Fara Warner, The Power of the Purse, “From Minority to Majority: McDonald’s
Discovers the Woman Inside the Mom”
““McDonald’s shifted its strategy McDonald’s shifted its strategy toward women from one of toward women from one of
‘minority’ consumers who served ‘minority’ consumers who served as a conduit to the important as a conduit to the important
children’s market to one in which children’s market to one in which women are the company’s women are the company’s
majority consumers and the main majority consumers and the main driver behind menu and driver behind menu and
promotion innovationpromotion innovation.”.” —Fara Warner, The Power of the Purse, “From Minority to Majority: McDonald’s Discovers the Woman Inside the Mom”
““Since Since 19701970, , women have women have
held held twotwo out of out of every every threethree new new jobs created.”jobs created.” —FT,
10.03.2006
““ForForgget China, India and the et China, India and the Internet: Economic Growth Is Driven Internet: Economic Growth Is Driven
bbyy Women Women.”.” [Headline.] “Even today in the modern, developed world, surveys show that parents still prefer to have
a boy rather than a girl. One longstanding reason boys have been seen as a greater blessing has been that they are expected to become better economic providers for their
parents’ old age. Yet it is time for parents to think again. Girls Girls may now be a better investment.”may now be a better investment.” “Girls get better grades in
school than boys, and in most developed countries more women than men go to university. Women will thus be better equipped Women will thus be better equipped for the new jobs of the 21st century, in which brains count a lot for the new jobs of the 21st century, in which brains count a lot
more than brawnmore than brawn.. … And women are more likely to provide sound advice on investing their parents’ nest—e.g.: surveys
show that women consistently achieve higher financial returns than men do. Furthermore, the increase in female employment in the rich world has been the main driving force of growth in
the last couple of decades. Those women have contributed more Those women have contributed more to global GDP growth than have either new technology or theto global GDP growth than have either new technology or the
new giants, India and China.”new giants, India and China.” Source: EconomistEconomist, April 15, Leader, page 14
““AS AS LEADERS, LEADERS, WOMEN WOMEN
RULERULE:: New Studies find that female managers outshine their male
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 rank] Link [rather than rank]
making];making]; sustain fruitful collaborations; comfortable sustain fruitful collaborations; comfortable with sharing information; with sharing information; see redistribution of power see redistribution of power
as victory, not surrenderas victory, not surrender; favor multi-dimensional ; favor multi-dimensional feedback; feedback; value technical & interpersonal skills, value technical & interpersonal skills, individual & group contributions equally;individual & group contributions equally; readily readily
accept ambiguity; accept ambiguity; honor intuition as well ashonor intuition as well as pure “rationality”; pure “rationality”; inherently flexible; inherently flexible; appreciate appreciate
cultural diversitycultural diversity. —Judy B. Rosener, America’s Competitive Secret: Women Managers
““Guys want to put everybody Guys want to put everybody in their hierarchical place. in their hierarchical place. Like, should I have more Like, should I have more
respect for you, or are you respect for you, or are you somebody that’s south of somebody that’s south of
Women Leaders’ Time Has Come …Women Leaders’ Time Has Come …Project team (old):Project team (old): 23 people, all from our company 23 people, all from our company (More or less amenable to “orders”)(More or less amenable to “orders”)Project team (new):Project team (new): 43 people from 7 companies in 4 43 people from 7 companies in 4 countries on 3 continents (Moved only by effective countries on 3 continents (Moved only by effective persuasion and development of common commitment)persuasion and development of common commitment)
“Worker,” circa 1982:“Worker,” circa 1982: Rote work, incl. most white- Rote work, incl. most white-collar work (Amenable to “orders,” power exercised collar work (Amenable to “orders,” power exercised directly)directly)“Worker,” circa 2007:“Worker,” circa 2007: Project work, team work, mixed- Project work, team work, mixed-group work, creative work, co-creation with client—group work, creative work, co-creation with client—microprocessors do the “rote stuff” (Commitment is microprocessors do the “rote stuff” (Commitment is voluntary, leadership is by developing positive voluntary, leadership is by developing positive relationships, inducing “creatives” to stretch, power relationships, inducing “creatives” to stretch, power exercised indirectly)exercised indirectly)
““Catalyst just completed a study Catalyst just completed a study showing that companies with showing that companies with at at
least three women directorsleast three women directors performed significantly better performed significantly better
than average in terms of return on than average in terms of return on equity (16.7% better), return on equity (16.7% better), return on
sales (16.8%), and return on sales (16.8%), and return on invested capital (10%)invested capital (10%)
Source: Source: NewsweekNewsweek, 1015.07/16% of S&P500 board, 1015.07/16% of S&P500 board members are women; 9% (45) no women members are women; 9% (45) no women
10 UNASSAILABLE REASONS WOMEN RULE10 UNASSAILABLE REASONS WOMEN RULEWomenWomen make [all] the financial decisions.WomenWomen control [all] the wealth.WomenWomen [substantially] outlive men.WomenWomen start most of the new businesses.Women’sWomen’s work force participation rates have soared worldwide.WomenWomen are closing in on “same pay for same job.”WomenWomen are penetrating senior ranks rapidly [even if the pace is slow for the corner office per se].Women’sWomen’s leadership strengths are exceptionally well aligned with new organizational effectiveness imperatives.WomenWomen are better salespersons than men.WomenWomen buy [almost] everything—commercial as well as consumer goods.
So what exactly is the point of So what exactly is the point of menmen??
“One thing is certain: Women’s rise to power, which is linked to the increase in wealth per capita, is happening in all domains and at all
levels of society. Women are no longer content to provide efficient labor or to be consumers with rising budgets and more autonomy to spend. … This is just the beginning. The
phenomenon will only grow as girls prove to be more successful than boys in the school
system. For a number of observers, For a number of observers, we have already entered the age we have already entered the age of ‘womenomics,’ the economy as of ‘womenomics,’ the economy as
thought out and practiced by a thought out and practiced by a womanwoman.”.” —Aude Zieseniss de Thuin, Financial Times, 10.03.2006
“ ‘“ ‘Womenomics,’ Womenomics,’ the economy as the economy as thought out and thought out and practiced by a practiced by a
woman.”woman.” —Aude Zieseniss de Thuin, Financial Times, 10.03.2006
The “Nonsense Nine”:The “Nonsense Nine”:Big companies!
The The “nefarious “nefarious nine point nine point
five”!five”!
The “Nefarious Nine Point Five”:The “Nefarious Nine Point Five”:Big companies!
Public companies! “Cool” industries!
Stability!Famous CEOs!“Hard” stuff!“Success”!
Plans!Men!
Young!
!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!““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
7/17/133
Average # of cars purchased per
household, “lifetime”: 1313Average # of cars bought per household after the “head of household” reaches
age 50: 77Source: Marti Barletta, PrimeTime Women
2000-2010 Stats
18-44: -1%-1%55+: ++2121%%(55-64: ++4747%%)
We are the We are the Aussies & Kiwis &Aussies & Kiwis & Americans & Americans & CanadiansCanadians. We are the . We are the Western EuropeansWestern Europeans & & JapaneseJapanese. We are the . We are the fastest growingfastest growing, , the the biggestbiggest, the , the wealthiestwealthiest, the , the boldestboldest, ,
the most (yes) the most (yes) ambitiouambitious, the most s, the most experimental & exploratoryexperimental & exploratory, the most , the most
differentdifferent, the most , the most indulgentindulgent, the most , the most difficult &difficult & demandingdemanding, the most , the most service & service & experience obsessedexperience obsessed, the most , the most vigorousvigorous, ,
(the (the leastleast vigorous,) the most vigorous,) the most health health consciousconscious, the most , the most femalefemale, the most , the most
profoundly important commercial market in profoundly important commercial market in the history of the world—and we will be the the history of the world—and we will be the Center of your universe for the next Center of your universe for the next twenty-twenty-
fivefive yearsyears. We have arrived!. We have arrived!
“Fifty-four years of age has been the highest cutoff point for any marketing initiative I’ve ever been involved in. Which is pretty weird when you consider age 50 is right
about when people who have worked all their lives start to have some money to spend.”
—Marti Barletta, PrimeTime Women
““Marketers attempts at reaching Marketers attempts at reaching those over 50 have been miserably those over 50 have been miserably
unsuccessful.unsuccessful. No market’s No market’s motivations and motivations and
needs are so poorneeds are so poorlyly understoodunderstood.”.”
——Peter Francese, founding publisher, American Demographics
*time left/ *time left/ lotslots *Eclipse of males/*Eclipse of males/retireretire--diedie
BoomerBucks!BoomerBucks!Boomer turns 50: every 7 seconds. Boomer turns 50: every 7 seconds. 2009: majority of 2009: majority of U.S. households headed by someone over 50.U.S. households headed by someone over 50. 2006- 2006-2016: U.S. population up 22.9 million; 22.1 million in 2016: U.S. population up 22.9 million; 22.1 million in over-50 group. over-50 group. 2006: 1 in 5 adults is F, over 50.2006: 1 in 5 adults is F, over 50.
Women between 50-70 who are single: 35%. Women between 50-70 who are single: 35%. Age 45-Age 45-54: highest average income, $59, 021 (national 54: highest average income, $59, 021 (national
average is $42,209).average is $42,209). FASTEST GROWING INCOME FASTEST GROWING INCOME CATEGORY: WOMEN, 55-64CATEGORY: WOMEN, 55-64 (4X men in same category). (4X men in same category). Women, age 60-64: 50% still in workforce.Women, age 60-64: 50% still in workforce. Highest Highest net worth: families, 55-64 ($182,000). net worth: families, 55-64 ($182,000). People over People over
50: 70% to 79% of all financial assets; 80% of all 50: 70% to 79% of all financial assets; 80% of all savings accounts; 62% of all large Wall Street asset savings accounts; 62% of all large Wall Street asset accounts; 66% of $$ invested in the stock market.accounts; 66% of $$ invested in the stock market. Age 50+: 29% of population, 40% of total consumer Age 50+: 29% of population, 40% of total consumer spending, 50% of discretionary spending. spending, 50% of discretionary spending. Next 2 Next 2
decades: decades: BOOMERS WILL INHERIT $14 TRILLION-$25 BOOMERS WILL INHERIT $14 TRILLION-$25 TRILLIONTRILLION (“largest intergenerational transfer of (“largest intergenerational transfer of
wealth in history”). wealth in history”).
—Marti Barletta, —Marti Barletta, PrimeTime WomenPrimeTime Women
“cost cutting “cost cutting is a is a deathdeath spiralspiral.”.”
Source: Source: Fans! Not customers. How Commerce Bank Fans! Not customers. How Commerce Bank Created a Super-growth Business in a No-growth Created a Super-growth Business in a No-growth
IndustryIndustry, Vernon Hill & Bob Andelman, Vernon Hill & Bob Andelman
““Our whole Our whole story is story is growing growing
revenue.”revenue.” —Vernon Hill (Top-line driven; standard —Vernon Hill (Top-line driven; standard
is bottom-line driven by cost cutting)is bottom-line driven by cost cutting)
The Commerce Bank ModelThe Commerce Bank Model
““overover-invest in -invest in our people, our people, overover--
invest in our invest in our facilities.”facilities.”
Source: Source: Fans! Not customers. How Commerce Bank Fans! Not customers. How Commerce Bank Created a Super-growth Business in a No-growth Created a Super-growth Business in a No-growth
IndustryIndustry, Vernon Hill & Bob Andelman, Vernon Hill & Bob Andelman
““Experiences Experiences are as distinct are as distinct
from services as from services as services are from services are from goods.”goods.” —Joe Pine & Jim Gilmore, The Experience Economy: Work Is Theatre & Every Business a
Stage
Experience: “Rebel Lifestyle!”
“What we sell is the “What we sell is the ability for a 43-year-old ability for a 43-year-old accountant to dress in accountant to dress in
black leather, ride black leather, ride through small towns and through small towns and
have people be afraidhave people be afraid of him.” of him.”
HarleyHarley exec, quoted in Results-Based Leadership
Beyond the “Transaction”/ “Satisfaction” Mentality
vendor, customer, etc)vendor, customer, etc) is a is a stratestrateggicic decision decision
about: about: “Innovate,“Innovate,
‘Yes’ or ‘Yes’ or ‘No’‘No’ ” ”
Promise #1:Promise #1: “Never, ever “Never, ever again will I evaluate again will I evaluate
anyone using a anyone using a standardized instrument standardized instrument
devised bydevised by a “professional” in a “professional” in ininhuman Resources.”human Resources.”
53 = 53 = 5353
““Diverse groups of problem solvers—Diverse groups of problem solvers—groups of people with diverse tools—groups of people with diverse tools—
consistently outperformed groups of the consistently outperformed groups of the best and the brightest. If I formed two best and the brightest. If I formed two
groups, one random (and therefore groups, one random (and therefore diverse) and one consisting of the best diverse) and one consisting of the best individual performers, the first group individual performers, the first group
almost always did better. … almost always did better. …
DiversityDiversity trumped trumped abilityability.”.” —Scott Page, —Scott Page, The Difference: How The Difference: How
the Power of Diversity Creates Better Groups,the Power of Diversity Creates Better Groups, Firms, Schools, and Societies Diversity Firms, Schools, and Societies Diversity
WikiWorld:WikiWorld: “The “The Billion-man Research Billion-man Research
Team: Companies Team: Companies offering work to online offering work to online
communities are communities are reaping the benefits of reaping the benefits of
Source: DMI/Summer 2002/Research by Thomas Lockwood
“Deutsche Bank Moves Half of Its Back-office Jobs to India”/
headline/FT/0327 (500 (500 of 900 of 900
ResearchResearch))
BRAND BRAND YOU.YOU.NO NO
OPTION.OPTION.
New Work SurvivalKit.20071. MASTERY!MASTERY! (Best/Absurdly Good at Something!)2. “Manage” to Legacy“Manage” to Legacy (All Work = “Memorable”/“Braggable” WOW Projects!)3. A “USP”/UNIQUE SELLING PROPOSITIONA “USP”/UNIQUE SELLING PROPOSITION 4. Rolodex Rolodex ObsessionObsession (From vertical/hierarchy/“suck up” loyalty to horizontal/“colleague”/“mate” loyalty)5. ENTREPRENEURIAL INSTINCTENTREPRENEURIAL INSTINCT (A sleepless … Eye for Opportunity! 6.CEO/LEADER/BUSINESSPERSON/CLOSERCEO/LEADER/BUSINESSPERSON/CLOSER (CEO, Me Inc. 24/7!)7. Master of ImprovMaster of Improv (Play a dozen parts simultaneously, from Chief Strategist to Chief Toilet Scrubber)8. Sense of HumorSense of Humor (A willingness to Screw Up & Move On)9. Comfortable with Your SkinComfortable with Your Skin (Bring “interesting you” to work!)10. Intense Appetite for TechnologyIntense Appetite for Technology (E.g.: How Cool-Active is your Web site? Do you Blog?)11. EMBRACE “MARKETING”EMBRACE “MARKETING” (Your own CSO/Chief Storytelling Officer)12. PASSION FOR RENEWALPASSION FOR RENEWAL (Your own CLO/Chief Learning Officer) 13. EXECUTION EXCELLENCE!EXECUTION EXCELLENCE! (Show up on time! Leave last!)
Muhammad Yunus:Muhammad Yunus: ““All human All human beings are entrepreneursbeings are entrepreneurs..
When we were in the caves we were When we were in the caves we were all self-employed . . . finding our food, all self-employed . . . finding our food,
feeding ourselves. That’s where feeding ourselves. That’s where human history began . . . As human history began . . . As
civilization came we suppressed it. We civilization came we suppressed it. We became labor because they stamped became labor because they stamped us, ‘You are labor.’ We forgot that we us, ‘You are labor.’ We forgot that we
are entrepreneurs.”are entrepreneurs.” Source: Muhammad Yunus/2006 Nobel Peace prize winner, father of micro-lending /The News Hour—PBS/1122.2006
The “Despicable Dozen”:The “Despicable Dozen”:Big companies!
Public companies! “Cool” industries!
Stability!Famous CEOs!“Hard” stuff!
Plans!“Success”!
Men!Incrementalism-Kaizen
Minimization!
Uniformity!
The “Delectable Dozen”:The “Delectable Dozen”:SMEs!SMEs!
““The role of the Director is to The role of the Director is to create a space where the actors create a space where the actors and actresses canand actresses can become become more than they’ve ever more than they’ve ever been before, more than been before, more than
they’ve dreamed of they’ve dreamed of beingbeing.”.” —Robert Altman, Oscar acceptance speech—Robert Altman, Oscar acceptance speech
““I used to have a rule for myself that at any point in I used to have a rule for myself that at any point in time I wanted to have in mind time I wanted to have in mind — as it so happens, — as it so happens, also in writing, on a little card I carried around with also in writing, on a little card I carried around with me — the three big things I was trying to get done. me — the three big things I was trying to get done.
ThreeThree..
Not two. Not two. Not four. Not four. Not five.Not five.Not ten.Not ten.Three.”Three.”
— Richard Haass, — Richard Haass, The Power to PersuadeThe Power to Persuade
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.
The greatest dangerThe greatest dangerfor most of usfor most of us
is not that our aim isis not that our aim istoo hightoo high
and we miss it,and we miss it,but that it isbut that it is
too lowtoo lowand we reach it.and we reach it.
Michelangelo
““Excellence can be obtained if you:Excellence can be obtained if you: ... care more than others think... care more than others think is wise;is wise; ... risk more than others think ... risk more than others think is safe;is safe; ... dream more than others think ... dream more than others think is practical;is practical; ... expect more than others think ... expect more than others think is possible.”is possible.”
Source: Anon.Source: Anon. (Posted @ tompeters.com by (Posted @ tompeters.com by K.Sriram, November 27, 2006 1:17 AM)K.Sriram, November 27, 2006 1:17 AM)