rollercoaster days: learning to … rock & roll! pmmi/west palm beach 04.03.2001
TRANSCRIPT
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Rollercoaster Days: Learning to … Rock &
Roll!
PMMI/West Palm Beach04.03.2001
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“There will be more confusion in the business world in the next decade than in any decade in history.
And the current pace of change will only accelerate.”
Steve Case
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“In 25 years, you’ll probably be able to get the
sum total of all human knowledge on a personal
device.”Greg Blonder, VC [was Chief Technical
Adviser for Corporate Strategy @ AT&T] [Barron’s 11.13.2000]
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<1000A.D.: paradigm shift: 1000s of years1000: 100 years for paradigm shift
1800s: > prior 900 years1900s: 1st 20 years > 1800s
2000: 10 years for paradigm shift 21st century: 1000X tech change than 20th
century (“the ‘Singularity,’ a merger between humans and computers that is so rapid and profound it represents a rupture
in the fabric of human history”)
Ray Kurzweil, talk april2001
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“The corporation as we know it, which is now 120 years old, is
not likely to survive the next 25 years. Legally and
financially, yes, but not structurally and economically.”
Peter Drucker, Business 2.0 (08.00)
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“We are in a
brawl with no rules.”
Paul Allaire
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The Kotler Doctrine:
1965-1980: R.A.F.(Ready.Aim.Fire.)
1980-1995: R.F.A.(Ready.Fire!Aim.)
1995-????: F.F.F.(Fire!Fire!Fire!)
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John Roth’s “Rules” [Nortel]
1. Our strategies must be tied to leading-edge customers on the attack.
2. Time cannot be sacrificed for better quality, lower cost, or even better decisions.
3. It doesn’t matter whether you develop or acquire leading technology. Our job is to provide the technology
and products our customers need.4. Success is achieved by leading change,
not waiting for it.5. We are paranoid about our leadership – willing to cannibalize our own products to maintain our edge.
Source: Abridged from The Wall Street Journal (07.25.00)
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“It used to be that the big
ate the small. Now the fast eat the slow.”Geoff Yang, IVP/ (Institutional
Venture Partners)
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Read It Closely: “We don’t sell insurance
anymore. We sell speed.”
Peter Lewis, Progressive
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JY: Who do you fear most, big companies or start-ups?
JC: I have a list with a dozen little companies I’m tracking closely. Guys
who can start with a fresh sheet of paper have an enormous advantage technologically. We have to carefully
integrate new capabilities into our existing product line, they don’t.”
Source: Jeffrey Young, Cisco Unauthorized
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Structure
Part I: Brand InsidePart II: Brand Outside
Part III: Brand Leadership
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Part I: Brand InsidePart II: Brand Outside
Part III: Brand Leadership
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Forces @ Work I
The Destruction Imperative!
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Forget>“Learn”
“The problem is never how to get new, innovative
thoughts into your mind,
but how to get the old ones out.”
Dee Hock
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“Acquisitions are about buying market share.
Our challenge is to create markets. There is a big difference.”
Peter Job, CEO, Reuters
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“Our ideal acquisition is a small startup that has a great technology product on the drawing board that is going to come out in six to twelve months.
We buy the engineers and the next generation product. …”
John Chambers, Cisco
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The [New] Ge Way
DYB.com
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The Gales of Creative Destruction
+29M = -44M + 73M
+4M = +4M - 0M
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Brand Inside
Brand Org: Lean, Linked,
Electronic & Malleable
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White Collar Revolution!
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108 X 5vs.
8 X 1*
* 540 vs. 8 (-98.5%)
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RR on “Assetless” [J.B.] Sara Lee
“The most profitable businesses in the future will act as knowledge brokers, linking insights into what’s available
with insights into the customer’s individual needs
and preferences.”
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Cisco, Dell =
Brand-owning companies who sell Customer
Satisfaction
Source: David Schneider & Grady Means, MetaCapitalism [e.g.: Cisco owns 2 of 38
assembly plants]
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Brand Inside
Brand Work: The Professional Service
Firm Model, The WOW Project,
and The New Worker
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So what will be the Basic Building
Block of the New Org?
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Answer: PSF![Professional Service Firm]
Department Head
to …
Managing Partner, HR [IS, etc.] Inc.
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“P.S.F.”: Summary
H.V.A. Projects (100%)Pioneer Clients
WOW Work (see below)Hot “Talent” (see below)“Adventurous” “culture”
Proprietary Point of View (Methodology)W.W.P.F. (100%)/Outside Clients (25%)
When: Now!
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09.11.2000: HP bids
$18,000,000,000for
PricewaterhouseCoopersConsulting business!
(31K bods)
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[“These days, building the best server isn’t enough. That’s the
price of entry.”
Ann Livermore, Hewlett Packard]
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The Raw Material …
The WOW Project!
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“Reward excellent failures. Punish
mediocre successes.”
Phil Daniels, Sydney exec
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“If there is nothing very special about your work, no matter how hard you apply
yourself, you won’t get noticed, and that
increasingly means you won’t get paid much either.”
Michael Goldhaber, Wired
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Minimum New Work SurvivalSkillsKit2000
MasteryRolodex Obsession (vert. to horiz. “loyalty”)
Finishing SkillsEntrepreneurial Instinct
CEO/Leader/BusinesspersonMistress of Improv
Sense of HumorIntense Appetite for Technology
Groveling Before the YoungEmbracing “Marketing”
Passion for Renewal
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“Knowledge becomes obsolete incredibly fast. The
continuing professional education of adults is the
No. 1 industry in the next 30 years … mostly on line.”
Peter Drucker,Business 2.0 (22August2000)
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Invent. Reinvent. Repeat.
Source: HP banner ad
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Brand Inside
Brand Talent: The Great War for Talent
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“When land was the productive asset, nations
battled over it. The same is happening now for talented people.”
Stan Davis & Christopher Meyer, futureWEALTH
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“We have transitioned from an asset-based strategy
to a talent-based strategy.”
Jeff Skilling, COO, Enron
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From “1, 2 or you’re out” [JW] to …
“Best Talent in each industry segment to build
best proprietary intangibles” [EM]
Source: Ed Michaels, War for Talent (05.17.00)
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“We believe companies can increase their market cap 50 percent in 3 years. Steve
Macadam at Georgia Pacific changed 20 of his 40 box plant managers to put
more talented, higher paid managers in charge. He increased
profitability from $25 million to $80 million in 2 years.”
Ed Michaels, War for Talent (05.17.00)
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Message: Some people are better than other
people. Some people are a helluva lot better than other
people.
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“Top performing companies are two to four times more likely
than the rest to pay what it takes to prevent losing
top performers.”
Ed Michaels, War for Talent (05.17.00)
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So-so plant manager, $1M per year. Pay: $110,000 plus $60,000. Top plant manager,
$3-4M per year. Pay: $135,000 plus $90,000. Net:
$2-3M for $50K.
Source: Ed Michaels et al., The War for Talent, re Georgia Pacific
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What gets measured gets done. What gets
paid for gets done more. What gets paid
a lot for gets done a lot more.
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“Why focus on these late teens and twenty-somethings? Because they are the first
young who are both in a position to change the world , and are actually doing so. … For the first time in history, children are more comfortable, knowledgeable and literate than their parents about an innovation central to society. … The Internet has
triggered the first industrial revolution in history to be led by the young.”
The Economist [12/2000]
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“Talented people are less likely to wait their turn. We used to
view young people as trainees; now they are authorities. Arguably
this is the first time the older generation can – and must – leverage the younger generation very early in their careers.”
Ed Michaels, War for Talent (05.17.00)
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“Where do good new ideas come from? That’s simple! From
differences. Creativity comes from unlikely juxtapositions.
The best way to maximize differences is to mix ages, cultures and
disciplines.”
Nicholas Negroponte
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The Cracked Ones Let in the Light
“Our business needs a massive transfusion of talent, and talent, I believe, is most likely to be found
among non-conformists, dissenters and rebels.”
David Ogilvy
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“AS LEADERS, WOMEN RULE: New Studies find that female managers
outshine their male counterparts in almost
every measure”Title, Special Report, Business Week, 11.20.00
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Women and new-economy
management …
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The New Economy …
Shout goodbye to “command and control”!
Shout goodbye to hierarchy!
Shout goodbye to “knowing one’s place”!
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Women’s Stuff = New Economy Match
Improv skillsRelationship-centric
Less “rank consciousness”Self determinedTrust sensitive
IntuitiveNatural “empowerment freaks” [less
threatened by strong people]Intrinsic [motivation] > Extrinsic
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“TAKE THIS QUICK QUIZ: Who manages more things at once? Who puts more effort into their appearance? Who usually takes care of the details? Who finds it
easier to meet new people? Who asks more questions in a conversation? Who is a better
listener? Who has more interest in communication skills? Who is more inclined to get involved?
Who encourages harmony and agreement? Who has better intuition? Who works with a longer ‘to do’ list? Who enjoys a recap to the day’s events? Who is
better at keeping in touch with others?”
Source: Selling Is a Woman’s Game: 15 Powerful Reasons Why Women Can Outsell Men, Nicki Joy &
Susan Kane-Benson
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“Boys are trained in a way that will make
them irrelevant.”
Phil Slater
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Okay, you think I’ve gone tooooo far.
How about this: DO ANY OF YOU SUFFER
FROM TOO MUCH TALENT?
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MantraM3
Talent = Brand
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What’s your company’s …
EVP?Employee Value Proposition, per Ed Michaels et al., The War for Talent
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EVP = Challenge, professional growth, respect, satisfaction, opportunity, reward
[EVP = “The company’s fingerprint” = B.P.]
Source: Ed Michaels et al., The War for Talent
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Goal of the Year No. 1*: Find-Develop-Mentor
ONE Extraordinary Person.
*CEO, large financial advisory firm, April 2001
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Brand InsideReprise:
THINK WEIRD: The High Standard
Deviation Enterprise
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Saviors-in-Waiting
Disgruntled CustomersFringe CompetitorsRogue Employees
Edge SuppliersWayne Burkan, Wide Angle Vision: Beat the
Competition by Focusing on Fringe Competitors, Lost Customers, and Rogue
Employees
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Button-down Org H.S.D.E. .
• Acquire for market share• Suck up to biggest customers• Pursue “strategic vendors”• Bigger is better• Accept assignments as given• Hire 4.0s from “top schools”• Promote when they’ve “paid
their dues”• Appoint a “prestigious” board
• Hang out with my pals• R.A.F.• Be “professional” at all
times/Honor thine elders
• Acquire for innovation• Partner with cool customers• Seek out pioneering vendors• Break it up … to refresh• Reframe all tasks to innovate• Hire “intriguing,” wherever• Promote tomorrow if the work
product is weird and WOW• Appoint an interesting,
headstrong board• Take a freak to lunch today• F.F.F.• Stay loose, stay cool/The hell
with thine elders
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“But don’t we need some
grout between the tiles?”
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N.W.O.: Was Is Is
• Pine-paneled Office• Address: 1 Big Man Plaza• Secretary• Suit • Formal • Rank conscious• Pretense (“Failures are
for fools.”)• I love “Yes men”• Self-contained
• Seat 9B, UA233• Address: [email protected]• Typing: 60 WPM• Casual M-F• Approachable• We are a HOT Team • Screwing up is as normal
as breathing• I love Misfits!• I love partners
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Part I: Brand InsidePart II: Brand Outside
Part III: Brand Leadership
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Forces @ Work II
The Commodity Trap
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Quality Not Enough!
“While everything may be better, it is also increasingly the
same.”Paul Goldberger on retail, “The Sameness
of Things,” The New York Times
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“We make over three new product announcements a
day. Can you remember them?
Our customers can’t!”Carly Fiorina
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“The ‘surplus society’ has a surplus of
similar companies, employing
similar people, with similar educational backgrounds, working in
similar jobs, coming up with similar
ideas, producing similar things, with
similar prices and similar quality.”
Kjell Nordstrom and Jonas Ridderstrale, Funky Business
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“Companies have defined so much ‘best practice’
that they are now more or less identical.”
Jesper Kunde, A Unique Moment
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Brand Outside
Strategy 1:
Lead the Customer!
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“If you worship at the throne of the voice of the customer, you’ll get only
incremental advances.”Joseph Morone, President,
Bentley College
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“Our strategies must be tied to leading edge
customers on the attack. If we focus on the defensive
customers, we will also become defensive.”
John Roth, CEO, Nortel
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Brand Outside
Strategy 2:Use E-Commerce to
Re-invent Everything!
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Tomorrow Today: Cisco!
90% of $20B (=$50M/day)75% mfg. outsourced; 50% of orders routed to supplier who ships direct
Gross margin: 65%; Net margin: 28%
Annual savings in service and support from customer
self-management: $550M
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Enron eWorld: “Price a structured trade,” per John Arnold, 26: Early
1999: 30 times a day. Late 2000: 30 times per … minute.
Long-term gas contract. 1989: 9 months, 400+ deals. Late 90s:
2 weeks, 2 per week. Late 2000: 5 such deals per day
Source: ecompany.com (1-2/2001)
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“This is the first meter of a 10-kilometer race.
Eventually, all markets will come to resemble today’s foreign exchange market.”
Hamid Biglari, Head of Corporate Strategy, Citigroup, in “GIGATRENDS,” Wired 04.01
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Tomorrow Today: Cisco!
90% of $20B; save $550M
C.Sat e >> C.Sat H
Customer Engineer Chat Rooms/Collaborative
Design ($1B “free” consulting) (45,000 customer problems a week solved via
customer collaboration)
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Welcome to
D.I.Y. Nation!“Changes in business processes will emphasize self service. Your costs as
a business go down and
perceived service goes up because customers are conducting it
themselves.” Ray Lane, Oracle
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“One cannot be tentative about this. Excuses like ‘channel
conflict’ or ‘marketing and sales aren’t ready’ cannot be allowed. Delay and you risk being cut out of your own market, perhaps not by traditional competitors but by companies you
never heard of 24 months ago.”
Jack Welch [07.00/Forbes.com]
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“We’ve put the word out to all of our suppliers: by the end of the year [2000] we’ll only do purchasing
over the Internet.”John Paterson, C.P.O., IBM
[$50B from 18,000 suppliers]
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WebWorld = Everything
Web as a way to run your business’s innardsWeb as connector for your entire supply-demand chain Web as “spider’s web” which re-conceives the industry
Web/B2B as ultimate wake-up call to “commodity producers”
Web as the scourge of slack, inefficiency, sloth, bureaucracy, poor customer data
Web as an Encompassing Way of LifeWeb = Everything (P.D. to after-sales)
Web forces you to focus on what you do bestWeb as entrée, at any size, to World’s Best at Everything
as next door neighbor
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“Ebusiness is about rebuilding the organization from the
ground up. Most companies today are not built to exploit the Internet.
Their business processes, their approvals, their hierarchies, the
number of people they employ … all of that is wrong for running an
ebusiness.”
Ray Lane, Kleiner Perkins
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“There is no use trying,” said Alice. “One can’t believe impossible things.”
“I daresay you haven’t had much practice,” said the Queen. “When I was
your age, I always did it for half an hour a day. Why, sometimes I’ve
believed as many as six impossible things before breakfast.”
Lewis Carroll
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I’net …
… allows you to dream dreams you could never have imagined before!
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Brand Outside
Strategy 3:
Design Matters!
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All Equal Except …
“At Sony we assume that all products of our competitors have basically the same
technology, price, performance and
features. Design is the only thing that differentiates one product from another in the
marketplace.”Norio Ohga
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“We don’t have a good language to talk about this kind of thing. In most people’s
vocabularies, design means veneer. … But to me, nothing could be further from the
meaning of design. Design is the fundamental soul
of a man-made creation.”Steve Jobs
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Design “is” … WHAT & WHY I LOVE.
LOVE.
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I LOVE my ZYLISS Garlic Peeler!
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Design “is” … WHY I
GET MAD. MAD.
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Wanted: Dead [preferably] or Alive: THE DESIGNER OF MY RADIO SHACK
PHONE. Major Reward!
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Design is never neutral.
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Hypothesis: DESIGN is the principal difference
between love and hate!
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THE BASE CASE: I am a design fanatic. Personally, though not “artistic,” I’m a cool-stuff guy. I love what
I love and I hate what I hate. [Openly.] But it goes [much] further, far beyond the personal. Design has
become a professional obsession. I - SIMPLY – BELIEVE THAT DESIGN PER SE IS
THE PRINCIPAL REASON FOR EMOTIONAL ATTACHMENT [or detachment] RELATIVE TO A
PRODUCT OR SERVICE OR EXPERIENCE. Design, as I see it, is arguably the #1 determinant of
whether a product-service-experience stands out … or doesn’t. Furthermore, it’s “one of those things” …
that damn few companies put – consistently – on the front burner.
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Design-Minded Company: CredoDesign matters! Everywhere!
The Brand Promise rules! Everywhere!All can answer: WHO ARE WE? HOW ARE
WE DISTINCT?Words such as beauty & grace & emotion
& connection & Wow & adventure are okay ’twixt 9 and 5.
Non-Wow doesn’t cut it. Anywhere!We aim to attract Best-In-Planet TALENT; non-traditional hiring, with an emphasis
on the arts, is part of this. Diversity-R-Us!
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Design-Minded Company: Operating Philosophy
All work is the product of Hot Teams of peers.Hierarchy is minimal, and usually a distraction.
We understand that “disrespect” is the ultimate in respect in crazy times.The Work Matters! Wow … or bust!
All work reflects design-mindfulness & the brand promise.
Promotion comes immediately if the work is Wow.NO BULLSHIT. We keep our word to our teammates and other partners.
Integrity = No.1 outcropping of design-mindfulness.We are a business. Results matter!
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Design Rules! [Literally]
Palm Beach County’s U.C.B.* [*Utterly Confusing Ballot]
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Brand Outside
Strategy 4:
Women Rule!
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?????????
Home Furnishings … 94%Vacations … 92%
Houses … 91%Consumer Electronics … 51%
Cars … 60% (90%)All consumer purchases … 83%
Bank Account … 89%Health Care … 80%
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????
80+%
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Riding Lawnmowers
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48% working wives > 50%80% checks
61% bills53% stock (mutual fund boom)
43% > $500K95% financial decisions/
29% single handed
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$4.8T > Japan
9M/27.5M/$3.6T > Germany
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Yeow!
1970 … 1%
2002 … 50%
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Read This Book …
EVEolution: The Eight Truths of Marketing to Women
Faith Popcorn & Lys Marigold
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“Men and women don’t think the same way, don’t communicate the same way,
don’t buy for the same reasons.”
“He simply wants the transaction to take place. She’s interested in creating a relationship. Every place women go,
they make connections.”
Faith Popcorn
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EVEolution: Truth No. 1
Connecting Your Female Consumers to Each
Other Connects Them to Your Brand
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“The ‘Connection Proclivity’ in women starts early. When asked,
‘How was school today?’ a girl usually tells her mother every
detail of what happened, while a boy might grunt, ‘Fine.’ ”
EVEolution
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“Women speak and hear a language of connection and intimacy, and men
speak and hear a language of status and independence. Men communicate to obtain information,establish their
status, and show independence. Women communicate to create
relationships, encourage interaction, and exchange feelings.”
Judy Rosener, America’s Competitive Secret
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What If …
“What if ExxonMobil or Shell dipped into their credit card database to help commuting women
interview and make a choice of car pool partners?”
“What if American Express made a concerted effort to connect up female empty-nesters
through on-line and off-line programs, geared to help women re-enter the workforce with today’s
skills?”
EVEolution
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STATEMENT OF PHILOSOPHY: I am a businessperson. An analyst. A pragmatist. The enormous social good of increased women’s
power is clear to me; but it is not my bailiwick. My “game” is haranguing business leaders
about my fact-based conviction that women’s increasing power – leadership skills
and purchasing power – is the strongest and most dynamic force at work in the American
economy today. Dare I say it as a long-time Palo Altan … THIS IS EVEN BIGGER THAN THE
INTERNET!
Tom Peters
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Brand Outside
Strategy 5:
Welcome to “Old World”!
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“ ‘Age Power’ will rule the 21st century.
We are woefully unprepared.”
Ken Dychtwald, Age Power: How the 21st Century Will Be Ruled by the New Old
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Subject: Marketers & Stupidity
It’s 18-44, stupid!*
*18-24: XFL
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Subject: Marketers & Stupidity
Or is it: “18-44 is stupid,
stupid!”
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2000-2010 Stats
18-44: -1%
55+: +21%(55-64: +47%)
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Aging/“Elderly”
$$$$$$$$$$$$“I’m in charge!”
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50+
$7T wealth (70%)/$2T annual income50% all discretionary spending
79% own homes40M credit card users
41% new cars/48% luxury/5M auto loans$610B healthcare spending
74% prescription drugs
5% of advertising targets
Ken Dychtwald, Age Power: How the 21st Century Will Be Ruled by the New Old
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Priorities: Aging/“Elderly”
Experiences … Convenience … Comfort
… Access … Respect!
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[Trends #1, #2 – or #2 & #1,#3:
Women, Aging,
Greening]
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Protect the environment: 52%Develop more energy: 36%
Equal: 6%No opinion or Other: 6%:
Source: Gallup 3-5 March 2001
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Brand Outside
Strategy 6:
BRAND POWER!
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“WHO ARE YOU [these days] ?”
TP to Client
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“We are in the twilight of a society based on data. As information and intelligence become the domain of computers, society will place more value on the one human ability that cannot be automated: emotion.
Imagination, myth, ritual - the language of emotion - will affect everything from our purchasing decisions
to how we work with others. Companies will thrive on the basis of their stories and myths. Companies will need to understand
that their products are less important than their stories.”
Rolf Jensen, Copenhagen Institute for Future Studies
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“Most companies tend to equate branding with the company’s marketing. Design a new marketing
campaign and, voila, you’re on course. They are wrong. The task is much bigger. It is about fulfilling our potential … not about a new logo, no matter how
clever. WHAT IS MY MISSION IN LIFE? WHAT DO I WANT TO CONVEY TO PEOPLE? HOW DO
I MAKE SURE THAT WHAT I HAVE TO OFFER THE WORLD IS ACTUALLY UNIQUE? The brand has to give of itself, the company has to give of itself, the management has to give of itself. To
put it bluntly, it is a matter of whether – or not – you want to be … UNIQUE … NOW.”
Jesper Kunde, A Unique Moment
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“Brand Promise” Exercise: (1) Who Are WE? (1 page, then 25 words.) (2) List
three ways in which we are UNIQUE … to our Clients. (3) Who are THEY (competitors)? (ID, 25 words.)
(4) List 3 distinct “us”/“them” differences. (5) Try “results” on your teammates. (6) Try ’em on a friendly Client. (7) Big Enchilada:
Try ’em on a skeptical Client!
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“WHO ARE WE?”
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“WHO AM I ?”
[“Me and the Brand Promise, a Passionate Saga” – We hope!]
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Edgartown MA: A&P Fun in the Sun Store
DO THE EMPLOYEES
BUY THIS ACT?
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“EXACTLY HOW AM I/
ARE WE DIFFERENT?”
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“ WHY DOES IT MATTER TO
THE CLIENT?”
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“EXACTLY HOW DO I CONVEY
THAT DIFFERENCE TO
THE CLIENT ”
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Message: REAL Branding is personal. REAL Branding is integrity. REAL
Branding is consistency & freshness. REAL Branding is the answer to WHO
ARE WE? WHY ARE WE HERE? REAL Branding is why I/you/we [all] get out of bed in the morning. REAL Branding can’t be faked. REAL Branding is a systemic, 24/7, all departments,
all hands affair.
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[Tell the
TRUTHP-l-e-a-s-e ]
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Part I: Brand InsidePart II: Brand Outside
Part III: Brand Leadership
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Brand Leadership
Passion Rules!
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“Leadership is a performance. You have to be
conscious of your behavior, because everybody else is.”
Carly Fiorina
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“You must be the change you
wish to see in the world.”
Gandhi
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“Leaders achieve their
effectiveness chiefly through
the stories they relate. In addition to communicating stories, leaders embody those
stories.”Howard Gardner, Leading Minds:
An Anatomy of Leadership
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“Create a Cause, not a ‘business.’
”Gary Hamel, Fortune (06.00), on re-inventing a
company (Exemplar #1: Charles Schwab)
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Brand Leadership: ENTHUSIASM RULES!
Ben Zander: “I am a dispenser of
enthusiasm.”
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Message: Leadership is all about love! [Passion, Enthusiasms, Appetite for Life,
Engagement, Commitment, Great Causes & Determination to Make a
Damn Difference, Shared Adventures, Bizarre Failures, Growth, Insatiable
Appetite for Change.] [Otherwise, why bother? Just read Dilbert. TP’s final words: CYNICISM SUCKS.]
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“Let’s make a dent in the universe.”
Steve Jobs