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Tom Peters Seminar2000 Distinct or … Extinct Linkage San Francisco 05Novem ber2000.

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1 Tom Peters Seminar2000 Distinct or … Extinct Linkage San Francisco 05Novem ber2000

2 When Mike Charles gets lonely, who does he talk to …

3 Mike Charles. Stanford history prof. Whirlpool fridge. Out of 2% milk. Tap keypad on door. Webvan.com delivers in hours. Next, he sends his washer an email … Source: Business Week (09.00)

4 Pentium III 800MHz: $42,893.00/# Hermes Scarf: $1,964.29 Saving Private Ryan on DVD: $874.75 Mercedes-Benz: $18.98 Hot-rolled steel: $0.19 Source: Fortune (3.20.00)

5 NOW THAT’S B-I-G! “The period 2000-2002 will bring the single greatest change in worldwide economic and business conditions since we came down from the trees.” David Schneider & Grady Means, MetaCapitalism

6 “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)

7 “We are in a brawl with no rules.” Paul Allaire

8 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)

9 “It used to be that the big ate the small. Now the fast eat the slow.” Geoff Yang, IVP/ (Institutional Venture Partners)

10 Progressive “We don’t sell insurance anymore. We sell speed.” – Peter Lewis Digital cameras, wireless Net links, etc.: SOME CLAIMS PAID WITHIN 20 MINUTES! Source: Business Week (09.00)

11 Part I: Brand Inside Part II: Brand Outside Part III: Brand Leadership

12 Forces @ Work I The Destruction Imperative!

13 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

14 The [New] G e Way DYB.com

15 The Gales of Creative Destruction +29M = -44M + 73M +4M = +4M - 0M

16 Brand Inside Brand Org: Lean, Linked, Electronic & Malleable

17 Headline: “Bank of America to Cut … 10,000 Jobs” “Middle-level and senior managers are expected to be the principal targets of the job cutbacks.” Source: The New York Times (07.29.2000)

18 White Collar Revolution!

19 The Pincer 5 “Destructive” entrepreneurs/ Global Competition “White Collar Robots” THE INTERNET! [E.g.: GM + Ford + DaimlerChrysler] Global Outsourcing [E.g.: India, Mexico] Speed!!

20 “Assetless Company” John Bryan, CEO, on selling all Sara Lee’s manufacturing

21 “We have transitioned from an asset-based strategy to a talent-based strategy.” Jeff Skilling, COO, Enron

22 Cisco, Dell = Brand-owning companies who sell Customer Satisfaction Source: David Schneider & Grady Means, MetaCapitalism

23 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.”

24 Advance Paradigm Data on 165,000,000 prescriptions per year; docs and insurers have access to records Reduces med errors; saves $2.88 per scrip [prescribing errors]; docs save $14,000 per year in review time Rev in ’99: $2B; $477M in ’98 Source: Business Week (09.00)

25 Brand Inside Brand Work: The WOW Project

26 “Reward excellent failures. Punish mediocre successes.” Phil Daniels, Sydney exec

27 Measures –WOW! –Beauty! –Raving Fans! –Impact!

28 Brand Inside Brand You: Distinct … or Extinct

29 2010 “Demographics”: By 2010, full-time workers will be in the minority Source: MIT study (28August2000)

30 New World of Work < 1 in 10 F500 #1: Manpower Inc. Freelancers/I.C.: 16M-25M Temps: 3M (incl. CEOs & lawyers) Microbusinesses: 12M-27M Total: 31M-55M Source: Daniel Pink, Free Agent Nation

31 “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

32 Minimum New Work SurvivalSkillsKit2000 Mastery Rolodex Obsession (vert. to horiz. “loyalty”) Finishing Skills Entrepreneurial Instinct CEO/Leader/Businessperson Mistress of Improv Sense of Humor Intense Appetite for Technology Groveling Before the Young Embracing “Marketing” Passion for Renewal

33 Invent. Reinvent. Repeat. Source: HP banner ad

34 Brand Inside Brand Talent: The Great War for Talent

35 The Case

36 “When land was the scarce resource, nations battled over it. The same is happening now for talented people.” Stan Davis & Christopher Meyer, futureWEALTH

37 The Talent Ten

38 Home Depot: 7 new growth initiatives ($20B to $100B in 5-7 years) Arthur Blank: BEST PERSON IN THE WORLD TO HEAD EACH INITIATIVE E.g.: COO of IKEA to head international expansion Ed Michaels, War for Talent (05.17.00)

39 “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)

40 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

41 “The Rise of the Teen Guru” “They’re brilliant, ambitious, and almost intuitively gifted at technology. A new generation of whiz kids are gaining unprecedented power and authority.” Source: Cover story, Brill’s Content, 7-8/00

42 “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)

43 “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

44 “Diversity defines the health and wealth of nations in a new century. Mighty is the mongrel. … The hybrid is hip. The impure, the mélange, the adulterated, the blemished, the rough, the black-and-blue, the mix-and-match – these people are inheriting the earth. Mixing is the new norm. Mixing trumps isolation. It spawns creativity, nourishes the human spirit, spurs economic growth and empowers nations.” G. Pascal Zachary, The Global Me: New Cosmopolitans and the Competitive Edge

45 Women and new- economy management …

46 The New Economy … Shout goodbye to “command and control”! Shout goodbye to hierarchy! Shout goodbye to “knowing one’s place”!

47 Women’s Stuff = New Economy Match Improv skills Relationship-centric Less “rank consciousness” Self determined Trust sensitive Intuitive Natural “empowerment freaks” [less threatened by strong people] Intrinsic [motivation] > Extrinsic

48 “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

49 “Boys are trained in a way that will make them irrelevant.” Phil Slater

50 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

51 Axiom: Never hire anyone without an aberration in their background!

52 Mantra2000 Talent = Brand

53 What’s your company’s … EVP? Employee Value Proposition, per Ed Michaels et al., The War for Talent

54 EVP = Challenge, professional growth, respect, satisfaction, opportunity, reward [EVP = “The company’s fingerprint” = B.I.] Source: Ed Michaels et al., The War for Talent

55 Brand Inside Brand Action: Getting Started … a Personal Perspective

56 Topic: Boss-free Implementation of STM /Stuff That MATTERS!

57 “This is all I ‘know’ in the world!” Tom Peters

58 I. THE IDEA “4Fs”: F ind a F ellow F reak F araway

59 Heart of the Matter F2F!* *Freak to Freak … or K2K [Kook to Kook]

60 World’s Biggest Waste … Selling “Up”

61 III. THE SOFT STUFF Connect!

62 Message: It’s Community Organizing, stupid! See: Saul Alinsky’s Rules for Radicals

63 IV. BOTTOM LINE The Enemy!

64 Epitaph from Hell … Joe T. Jones 1942 – 2000 HE WOULDA DONE SOME REALLY COOL STUFF BUT … HIS BOSS WOULDN’T LET HIM!

65 Characteristics of the “Also rans”* “Minimize risk” “Respect the chain of command” “Support the boss” “Make budget” *Fortune, article on “Most Admired Global Corporations”

66 The greatest danger for most of us is not that our aim is too high and we miss it, but that it is too low and we reach it. Michelangelo

67 New Economy: Was-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: Rick@Corp.com 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

68 Part I: Brand Inside Part II: Brand Outside Part III: Brand Leadership

69 Forces @ Work II The Commodity Trap

70 “We make over three new product announcements a day. Can you remember them? Our customers can’t!” Carly Fiorina

71 “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

72 Brand Outside The Death Knell for Ordinary: Pursuing Difference!

73 Brand Outside Strategy 1 : Lead the Customer!

74 “If you worship at the throne of the voice of the customer, you’ll get only incremental advances.” Joseph Morone, President, Bentley College

75 “These days, you can’t succeed as a company if you’re consumer led – because in a world so full of so much constant change, consumers can’t anticipate the next big thing. Companies should be idea- led and consumer- informed.” Doug Atkin, partner, Merkley Newman Harty

76 “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

77 Brand Outside Strategy 2 : Use E-Commerce to Re-invent Everything!

78 OVERVIEW

79 www.cyveillance.com 08.30.2000/1221AM: 2,461,940,629

80 www.cyveillance.com 10.26.2000/0544AM: 2,877,822,236

81 57 days, 5 hours, 23 minutes … +415,881,607

82 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% Savings in service and support from customer self-management: $500M

83 W.W. Grainger* 2X phone/fax *$220B “MRO” market (per Business 2.0/02-00)

84 COMMUNITY SERVICES!/ CUSTOMER CONTROL!

85 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)

86 Anne Busquet/ American Express Not: “Age of the Internet” Is: “Age of Customer Control”

87 “The Web enables total transparency. People with access to relevant information are beginning to challenge any type of authority. The stupid, loyal and humble customer, employee, patient or citizen is dead.” Kjell Nordstrom and Jonas Ridderstrale, Funky Business

88 RADICAL STRATEGIES REQUIRED

89 “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]Forbes.com

90 SUMMARY: REINVENT EVERYTHING

91 WebWorld = Everything Web as a way to run your business’ innards Web 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 Life Web = Everything (P.D. to after-sales) Web forces you to focus on what you do best Web as entrée, at any size, to World’s Best at Everything as next door neighbor

92 Message: eCommerce is not a technology play! It is a relationship, partnership, organizational and communications play, made possible by new technologies.

93 Message: There is no such thing as an effective B2B or Internet-supply chain strategy in a low-trust, bottlenecked- communication, six-layer organization.

94 A DREAMER’S MEDIUM!

95 “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

96 I’net … … allows you to dream dreams you could never have imagined before!

97 “Banking is necessary. Banks are not.” Dick Kovacevich, Wells Fargo

98 Brand Outside Strategy 3 : Fighting Back via Systems Integration!

99 THE CASE

100 B2B 1999 – 2004: 50X 2004: $7.4 T Source: GartnerGroup (per Reuters 1-26-00)

101 GM/Ford/DaimlerChrysler (02-27) Covisint $240B (+$500B) I.P.O.

102 Goal? Drive profits to zero!* *Remember AMR and “dynamic pricing.”

103 “Net Nips Real Estate Sales Fees” Headline, p.1B, USAToday 07.05.00* *Homebytes.com, eHomes.com, YourHomeDirect.com, etc.

104 Message: “BOX” SELLERS LOSE!

105 THE RESPONSE

106 Message: Racing up the V.A. Ladder. Doing More & More … & More & More & More … for/with the Customer and the Supply-Demand Chain!

107 “We want to be the air traffic controllers of electrons.” Bob Nardelli, GE Power Systems

108 09.11.2000: HP bids $18,000,000,000 for PricewaterhouseCoopers Consulting bus! (31,000 bods)

109 “These days, building the best server isn’t enough. That’s the price of entry.” Ann Livermore, Hewlett Packard

110 Brand Outside Strategy 4 : It’s the Experience!

111 “ Experiences are as distinct from services as services are from goods.” Joseph Pine & James Gilmore, The Experience Economy: Work Is Theatre & Every Business a Stage

112 “The [Starbucks] Fix” Is on … “We have identified a ‘third place.’ And I really believe that sets us apart. The third place is that place that’s not work or home. It’s the place our customers come for refuge.” Nancy Orsolini, District Manager

113 Experience: “Rebel Lifestyle!” “What we sell is the ability for a 43-year-old accountant to dress in black leather, ride through small towns and have people be afraid of him.” Harley exec, quoted in Results-based Leadership

114 “Car designers need to create a story. Every car provides an opportunity to create an adventure. … “The Prowler makes you smile. Why? Because it’s focused. It has a plot, a reason for being, a passion.” Freeman Thomas, co-designer VW Beetle; designer Audi TT

115 Hmmmm(?): “Only” Words … Story Adventure Smile Focus Plot Passion

116 Plot Williams Sonoma = 5 [was 10] Crate & Barrel = 8 Sharper Image = 9+ Smith & Hawken = 8+ Garnet Hill = 9 L.L. Bean = 4 [was 9+] Colonial Williamsburg = ?

117 The “Experience Ladder” Experiences Services Goods Raw Materials

118 1940: Cake from flour, sugar (raw materials economy): $1.00 1955: Cake from Cake mix (goods economy): $2.00 1970: Bakery-made cake (service economy): $10.00 1985: Party @ Chuck E. Cheese (experience economy) $100.00

119 LAN Installation Co. to Geek Squad (2% to 30%/Minn.)

120 Extraction & Goods: Male dominance Services & Experiences: Female dominance

121 Brand Outside Strategy 5 : Women Rule!

122 ????????? Home Furnishings … 94% Vacations … 92% Houses … 91% Bank Account … 89% Health Care … 80% Consumer Electronics … 51% Cars … 50%+/80% Etc.

123 48% working wives > 50% 80% checks 61% bills 53% stock (mutual fund boom) 43% > $500K 95% financial decisions/ 29% single handed

124 Women … 50+% (!!!) of Web users; 6 of 10 new users; 83% of wired women are primary decision makers for family healthcare, finances, education. Source: Business Week; Jupiter Communications

125 $4.8T > Japan 9M/27.5M/$3.6T > Germany

126 OPPORTUNITY NO. 1!* [* No shit!]

127 FemaleThink/ Popcorn “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.”

128 Women and Financial Advisors Women want … a plan, to be listened to, to be taken seriously, to read about it, to think about it. Women do not want … an in-your-face sales pitch Source: Kathleen Boyle, Wheat Boyle Butcher Singer

129 “Women Beat Men at Art of Investing” Source: Miami Herald, reporting on a study by Profs. Terrance Odean and Brad Barber, UC Davis (Cause: Guys are “in and out” of stocks more often; women choose carefully and hold on for the long term)

130 Marketing to Women: Help Them Save Time! 80% … work 86% … cook 58% … run errands with kids 38% … take child to school 21% … go to the gym 21% … take outside classes

131 How Many Gigs You Got, Man? “Hard to believe … Different criteria” “Every research study we’ve done indicates that women really care about the relationship with their vendor.” Robin Sternbergh/ IBM

132 Read This Book … EVEolution: The Eight Truths of Marketing to Women Faith Popcorn & Lys Marigold

133 EVEolution: Truth No. 1 Connecting Your Female Consumers to Each Other Connects Them to Your Brand

134 “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

135 Weight Watchers International “Model” “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

136 “Women don’t buy brands. They join them.” Faith Popcorn, EVEolution Faith Popcorn

137 Not!! “Year of the Woman”

138 Enterprise Reinvention! Recruiting Hiring/Rewarding/ Promoting Structure Processes Measurement Strategy Culture Vision Leadership THE BRAND ITSELF!

139 “What kind of car does Mommy want?”

140 “Honey, are you sure you have the kind of money it takes to be looking at a car like this?”

141 THIS JUST MIGHT BE THE BIGGEST “THING” IN THIS SEMINAR. [PLEASE: THINK ABOUT IT!]

142 Psssst! Wanna see my “porn” collection?

143 27 March 2000: email to TP from Shelley Rae Norbeck “I make 1/3 rd more money than my husband does. I have as much financial ‘pull’ in the relationship as he does. I’d say this is also true of most of my women friends. Someone should wake up, smell the coffee and kiss our asses long enough to sell us something! We have money to spend and nobody wants it!”

144 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

145 Speaking of Enormous [Missed] [Huge] Opportunities...

146 Subject: Marketers & Stupidity It’s 18-44, stupid!

147 Subject: Marketers & Stupidity Or is it: 18-44 is stupid, stupid!

148 2000-2010 Stats 18-44: -1% 55+: +21% (55-64: +47%)

149 Aging/“Elderly” $$$$$$$$$$$$ “I’m in charge!”

150 Brand Outside Strategy 6 : BRAND POWER!

151 Brand It! Now, More Than Ever! “The increasing difficulty in differentiating between products and the speed with which competitors take up innovations will assist in the rise and rise of the brand.” Gillian Law and Nick Grant, Management [New Zealand]

152 “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

153 Brand = You Must Care! “Success means never letting the competition define you. Instead you have to define yourself based on a point of view you care deeply about.” Tom Chappell, Tom’s of Maine

154 “In the funky village, real competition no longer revolves around marketshare. We are competing for attention – mindshare and heartshare.” Kjell Nordstrom and Jonas Ridderstrale, Funky Business

155 Brand = Special = Passion = Plot = Compelling Mythology = Cause = Connection = Heart = Integrity & Trust

156 Rules of “Radical Marketing” Love + Respect Your Customers! Hire only Passionate Missionaries! Create a Community of Customers! Celebrate Craziness! Be insanely True to the Brand! Sam Hill & Glenn Rifkin, Radical Marketing (e.g., Harley, Virgin, The Dead, HBS, NBA)

157 T.T.D./Calling the Corporate Shrink! “Organizational Psychotherapy”/ WHO WE ARE!

158 Part I: Brand Inside Part II: Brand Outside Part III: Brand Leadership

159 Brand Leadership Passion Rules!

160 “Leadership is a performance. You have to be conscious of your behavior, because everybody else is.” Carly Fiorina

161 “You must be the change you want to bring about.” Gandhi

162 Brand Leadership! “A key – perhaps the key – to leadership is the effective communication of a story.” Howard Gardner Leading Minds: An Anatomy of Leadership

163 “Create a Cause, not a ‘business.’ ” Gary Hamel, Fortune (06.00), on re- inventing a company (Exemplar #1: Charles Schwab)

164 “A leader is a dealer in hope.” Napoleon

165 Brand Leadership: ENTHUSIASM RULES! “I am a dispenser of enthusiasm.”/ Ben Zander

166 “If things seem under control, you’re just not going fast enough.” Mario Andretti

167 Have you changed civilization today? Source: HP banner ad


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