Transcript New Zealand 2007 Ho hum: 2+ weeks in New Zealand … Pfizer Ford Gap Chrysler Yahoo microsoft wal*mart ??? ???

New Zealand 2007
Ho hum: 2+ weeks in New Zealand …
Pfizer
Ford
Gap
Chrysler
Yahoo
microsoft
wal*mart
???
???
“It is not the
strongest of the
species that survives,
nor the most
intelligent, but the
one most responsive
to change.”
—Charles Darwin
Punchline …
The last
word:
There is
no “last
word.”
Punchline …
The last
word:
There is
a “last
word(s).”
Tom Peters’ X25*
EXCELLENCE.
ALWAYS.
ESPN/Chatham/02 May 2007
*In Search of Excellence 1982-2007
Slides at …
tompeters.com
EXCELLENCE????
“I am often asked by would-be entrepreneurs
seeking escape from life within huge corporate
structures, ‘How do I build a small firm for
Buy
a very large one
and just wait.”
myself?’ The answer seems obvious:
—Paul Ormerod, Why Most Things Fail:
Evolution, Extinction and Economics
You don’t
get better
by being
bigger. You
Dick Kovacevich:
“It is generally much easier to
organization
kill an
than change it
substantially.”
—Kevin Kelly, Out of Control
EXCELLENCE.
CIRCA 1982.
Excellence1982: The Bedrock “Eight Basics”
1.
2.
3.
4.
5.
6.
7.
8.
A Bias for Action
Close to the Customer
Autonomy and Entrepreneurship
Productivity Through People
Hands On, Value-Driven
Stick to the Knitting
Simple Form, Lean Staff
Simultaneous Loose-Tight
Properties”
EXCELLENCE.
ASPIRATION.
Why in the
World did you
go to Siberia?
Enthusiasm.
Emotion. Excellence. Energy.
Excitement. Service. Growth.
Creativity. Imagination. Vitality.
Joy. Surprise. Independence.
Spirit. Community. Limitless
human potential. Diversity.
Profit. Innovation. Design.
Quality. Entrepreneurialism.
The Peters Principles:
Wow!
“BUSINESS
IS ABOUT
POWER.”
—Joanne
Lipman, on
Portfolio
“Business
is about …
experiences that are
concocted and executed by
committed, energetic, nervy
[Loose screws = Many] people [Talent] and
surprise-amaze [“giggly”/“insanely great”]
and stick in other people’s
[customers’] minds.” —Tom Peters
[that lasts]
*Apple, Whole Foods, Cirque du Soleil, Virgin, ESPN, Apple,
Commerce Bank, Google, Basement Systems Inc., Apple,
Ford (circa 1917), IBM (circa 1970), CNN (circa 1980),
Wannamaker’s (circa 1880)
Basement
Systems inc/
seymour ct
*Basement Systems Inc.
*Larry Janesky
*Dry Basement Science (115,000!)
*1993: $0; 2003: $12M;
2006:
$50,000,000+
EXCELLENCE.
INNOVATE.
OR.
DIE.
The Mess
Is The
Message!
Period!
What makes
God laugh?
People
making
plans!
EXCELLENCE.
INNOVATE.
OR.
DIE.
More than $$$$
R&D
spending, last 25 years?
Characteristics of the “Also rans”*
“Minimize risk”
“Respect the chain of
command”
“Support the boss”
“Make budget”
*Fortune, article on “Most Admired Global Corporations”
EXCELLENCE.
INNOVATE.
TACTICS.
We become
who we hang
out with 1
“To grow, companies need
to break out of a vicious
cycle of competitive
benchmarking and
imitation.”
—W. Chan Kim & Renée Mauborgne,
“Think for Yourself —Stop Copying a Rival,” Financial Times
Why Do I love Freaks?
(1) Because when Anything Interesting happens … it was
a freak who did it. (Period.)
(2) Freaks are fun. (Freaks are also a pain.) (Freaks are
never boring.)
(3) We need freaks. Especially in freaky times. (Hint:
These are freaky times, for you & me & the CIA & the
Army & Avon.)
(4) A critical mass of freaks-in-our-midst
automatically make us-who-are-not-so-freaky at least
somewhat more freaky. (Which is a Good Thing in freaky
times—see immediately above.)
(5) Freaks are the only (ONLY) ones who succeed—as in,
make it into the history books.
(6) Freaks keep us from falling into ruts. (If we listen to
them.) (We seldom listen to them.) (Which is why most
organizations are in ruts. Make that chasms.)
“Normal” =
“o for 800”
Try it. Try it. Try it
ry it. Try it. Screw
up. Try it. Try it. Try
t. Try it. Try it. Try
t. Try it. Screw it up
t. Try it. Try it. try
“We have a
‘strategic plan.’
It’s called doing
things.”
— Herb Kelleher
“This is so simple it sounds stupid, but it is amazing
how few oil people really understand that
you only find
oil if you drill
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
“We made mistakes, of course. Most of them were
omissions we didn’t think of when we initially wrote the
software. We fixed them by doing it over and over, again
and again. We do the same today. While our competitors
are still sucking their thumbs trying to make the design
perfect, we’re already on prototype version
#5.
By the time our rivals are
ready with wires and screws, we are on version
#10. It gets back to planning
versus acting: We act from day
one; others plan how to plan—
for months.” —Bloomberg by Bloomberg
Screw.
things.
“Fail .
Forward.
Fast.”
High Tech CEO, Pennsylvania
“Fail faster.
Succeed Sooner.”
David Kelley/IDEO
“FAIL, FAIL
AGAIN. FAIL
BETTER.”
—Samuel Beckett
Sam’s
Secret
#1!
“Reward
excellent failures.
Punish mediocre
successes.”
Phil Daniels, Sydney exec
try.
Miss.
READY.
FIRE!
“Learn not to
be careful.”
—Photographer Diane Arbus
to her students (Careful = The sidelines, from
Harriet Rubin in The Princessa)
No try.
No deal.
“You miss
100% of the
shots you
never take.”
—Wayne Gretzky
“Intelligent people
can always come up
with intelligent
reasons to do
nothing.”
—Scott Simon
Speed/
Tempo/
o.o.d.a.
loops
He who has the
quickest “O.O.D.A.
Loops”* wins!
*Observe. Orient. Decide. Act. /Col. John Boyd
“Blitzkrieg is far more than lightning thrusts that most
people think of when they hear the term; rather it was all
about high operational tempo and the rapid
exploitation of opportunity.” —Robert Coram, Boyd
“Re-arrange the
mind of the
enemy”
—T.E. Lawrence
BOYD: The Fighter Pilot Who Changed
the Art of War (Robert Coram)
Concoct a
Parallel
universe!
“Parallel
Universe” …
China!!!!!!!
“NEW”
MARKETS.
E-nor-mous
Stra-te-gic
opp-or-tun
women.
BOOMERS.
GEEZERS.
women
BOOMERS
“Forget China,
India and the
Internet: Economic
Growth Is Driven
by
Women.”
—Headline,
Economist, April 15, 2006, Leader, page 14
Women’s Trifecta+
*Buy
*Wealth
*Lead
+ECLIPSE
OF MALES
(Old/Retire; Young/Poorly educated)
“Women are
the majority
market”
—Fara Warner/The Power of the Purse
Not Just America …
“Boys Falling
Seven Years
Behind Girls
at GCSE Level”
—headline, Weekly Telegraph, UK, 10.25.06
“Girls are
the new
boys.”
Source: The Daily Mail, 0425.2007,
“Why today’s women want a girl”
The Perfect Answer
Jill and Jack buy
slacks in black…
1. Men and women are different.
2. Very different.
3. VERY, VERY DIFFERENT.
4. Women & Men have a-b-s-o-l-u-t-e-l-y
nothing in common.
5. Women buy lotsa stuff.
6. WOMEN BUY A-L-L THE STUFF.
7. Women’s Market = Opportunity No. 1.
8. Men are (STILL) in charge.
9. MEN ARE … TOTALLY, HOPELESSLY
CLUELESS ABOUT WOMEN.
10. Women’s
Market =
Opportunity
No. 1.
Cases! Cases! Cases!
McDonald’s (“mom-centered” to “majority consumer”; not
via kids)
Home Depot (“Do it [everything!] Herself”)
P&G (more than “house cleaner”)
DeBeers (“right-hand rings”/$4B)
AXA Financial
Kodak (women = “emotional centers of the household”)
Nike (> jock endorsements; new def sports; majority consumer)
Avon
Bratz (young girls want “friends,” not a blond stereotype)
Source: Fara Warner/The Power of the Purse
10 UNASSAILABLE REASONS WOMEN RULE
Women make [all] the financial decisions.
Women control [all] the wealth.
Women [substantially] outlive men.
Women start most of the new businesses.
Women’s work force participation rates have
soared worldwide.
Women are closing in on “same pay for same
job.”
Women are penetrating senior ranks rapidly
[even if the pace is slow for the corner
office per se].
Women’s leadership strengths are exceptionally well
aligned with new organizational effectiveness &
value-added imperatives.
Women are better salespersons than men.
Women buy [almost] everything—commercial
as well as consumer goods.
So what exactly is … the point of men?
“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
For a number of observers, we
have already entered the age of
‘womenomics,’ the economy as
thought out and practiced by a
woman.” —Aude Zieseniss de Thuin, Financial Times, 10.03.2006
system.
women
BOOMERS
GEEZERS
!!!!!!!!!!!!!!!!!
“People turning 50
more
than half of
today have
their adult life
ahead of them.”
—Bill Novelli,
50+: Igniting a Revolution to Reinvent America
Average # of cars purchased per
household, “lifetime”:
13
Average # of cars bought per household
after the “head of household” reaches age
50:
7
Source: Marti Barletta, PrimeTime Women
BOOMERS.
GEEZERS.
MONEY.
ALL.
NOW.
Subject: Marketers & Stupidity
“It’s 18-44,
stupid!”
Subject: Marketers & Stupidity
Or is it:
“18-44
is stupid,
stupid!”
2000-2010 Stats
18-44: -1%
55+: +21%
(55-64:
+47%)
Boomers’-Geezers’-Women’s Trifecta+
*Buy/all
*Wealth/all
*time left/ lots
*Eclipse of males/retire-die
We are the Aussies & Kiwis & canadians &
americans. We are the Western Europeans
& Japanese. We are the fastest growing,
the biggest, the wealthiest, the boldest,
the most (yes) ambitious, the most
experimental & exploratory, the most
different, the most indulgent, the most
difficult & demanding, the most service &
experience obsessed, the most vigorous,
(the least vigorous,) the most health
conscious, the most female, the most
profoundly important commercial market
in the history of the world—and we will
be the Center of your universe for the
See me.
Watch me.
respect me.
Suck up to me.
Serve me.
Love me.
Love my longevity.
Love my m-o-n-e-y.
Elizabeth Cady Stanton
(more or less) (circa 0331.2007)
See “her.”
Watch her.
respect her.
Be obsequious to her.
Serve her.
Love her.
Love her long longevity.
Love her m-o-n-e-y.
(which is damn near a-l-l
the mon-$$$$$$.)
women
BOOMERS
GEEZERS
Median Household Net Worth
<35: $7K
35-44: $44K
45-54: $83K
55-64: $112K
65-69: $114K
70-74: $120K
>74: $100K
Source: U.S. Census
BoomerBucks!
Boomer turns 50: every 7 seconds. 2009: majority of
U.S. households headed by someone over 50. 20062016: U.S. population up 22.9 million; 22.1 million in
over-50 group. 2006: 1 in 5 adults is F, over 50.
Women between 50-70 who are single: 35%. Age
45-54: highest average income, $59, 021 (national
average is $42,209). FASTEST GROWING INCOME
CATEGORY: WOMEN, 55-64 (4X men in same
category). Women, age 60-64: 50% still in
workforce. Highest net worth: families, 55-64
($182,000). People over 50: 70% to 79% of all
financial assets; 80% of all savings accounts; 62% of
all large Wall Street asset accounts; 66% of $$
invested in the stock market. Age 50+: 29% of
population, 40% of total consumer spending, 50% of
discretionary spending. Next 2 decades: BOOMERS
WILL INHERIT $14 TRILLION-$25 TRILLION (“largest
intergenerational transfer of wealth in history”).
—Marti Barletta, PrimeTime Women
55-64 vs 25-34
E.g.: New cars & trucks: 20% more
spending. Meals at full-service
restaurants: +29%. Airfare: +38%.
Sports equipment: +58%. Motorized
recreational vehicles: +103%. Wine:
113%. Maintenance, repairs and
home insurance: +127%. Vacation
homes: +258%. Housekeeping &
yard services: +250% to +500%.
Source: Marti Barletta, PrimeTime Women
Subject: Marketers & Stupidity
Or is it:
“18-44 is
stupid, stupid!”
“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
Beer: National Boh to Bud to Anchor Steam to Zilch
Car: Chevrolet (1942-1962) to misc to Subaru
Biz Clothes: Various warehouses to Brooks to Nordstrom to Milan
Biz: Big (U.S. Navy, McKinsey) to Small (de facto self-employed)
Sports clothes: Misc-cheap to Northface
Spouse: “Sexy broad” (wife #1) to Best friend/Brainy (+sexy)
School: Cornell to Stanford to RISD (Go Nads!)
Pens: Cross to Bic
Food: Safeway to Whole Foods
Music: Beatles to Queen
Home Furnishings: With-it to Comfortable
Home: SF Bay Area to West Tinmouth VT
Favorite sport: Lacrosse-Crew to Speed Walking-Trekking-Rowing
Favorite MLB, NFL: Orioles-Baltimore Colts to A’s-Raiders (Warriors!)
Favorite magazine: Life to Wired
Favorite media: Print-Radio to Web-Radio
Favorite airline: TWA to American to Lufthansa
Home: East to West
Vacations: USA to New Zealand
Price: Cheap to Varied (Wal*Mart to Milan)
Hotel: Ramada/Holiday Inns to Four Seasons/Leading Hotels
Restaurants: McDonald’s to Hole in the wall
Stores: Misc/Big to Little shops
Loyalty: Serial monogamy (just as loyal now as then; “love ’em, then leave ’em”)
“While Fox’s overall ratings are down about 6% from last year, the network
has moved from fourth place into first among viewers from ages 18 to 49,
define as the only
competition that counts.” —NYT/11.01.04*
which all the networks other than CBS
dumb/
ignorant/
stupid/
all three
*Translation …
EXCELLENCE.
BEDROCK.
LEADERSHIP.
“12 Ps.”
Tom Peters/04.18.2007
st
“21 -century
Leadership” =
Bunkum
PURPOSE.
PASSION.
Potential.
Presence.
Personal.
pissed off.
Playful.
PERSISTENCE.
PEOPLE.
Peculiar.
Potent.
Positive.
PURPOSE.
PASSION.
Potential.
Presence.
Personal.
pissed off.
Playful.
PERSISTENCE.
PEOPLE.
Peculiar.
Potent.
Positive.
“Management has a lot to do with
answers. Leadership is a function of
questions. And the first question for a
‘Who do
we intend to
be?’ Not ‘What are we going to
leader always is:
do?’ but ‘Who do we intend to be?’”
—Max De Pree, Herman Miller
Leader Job One
Paint
Portraits of
Excellence!
PURPOSE.
PASSION.
Potential.
Presence.
Personal.
pissed off.
Playful.
PERSISTENCE.
PEOPLE.
Peculiar.
Potent.
Positive.
“Nothing is so
contagious as
enthusiasm.”
—Samuel Taylor Coleridge
PURPOSE.
PASSION.
Potential.
Presence.
Personal.
pissed off.
Playful.
PERSISTENCE.
PEOPLE.
Peculiar.
Potent.
Positive.
“The role of the Director is to create a
space where the actors and
become more
than they’ve ever been
before, more than
they’ve dreamed of
being.”
actresses can
—Robert Altman, Oscar acceptance speech
PURPOSE.
PASSION.
Potential.
Presence.
Personal.
pissed off.
Playful.
PERSISTENCE.
PEOPLE.
Potent.
Positive.
PURPOSE.
PASSION.
Potential.
Presence.
Personal.
pissed off.
Playful.
PERSISTENCE.
PEOPLE.
Peculiar.
Potent.
Positive.
“You must
be
the change you
wish to see in the
world.”
Gandhi
“Courtesies of a small and
trivial character are the
ones which strike
deepest in the grateful
and appreciating heart.”
—Henry Clay
Questions: What do others think of you? [Are you sure?] What
do you think of you? [Are you sure?] What is your impact on
others? [Are you sure?] What is your impact on others? [Are
you sure?] What is your impact on others? [Are you sure?]
What are the “little things” you (perhaps unconsciously) do that
cause people to shrivel—or blossom? [Are you sure?] What do
you want? [Are you sure?] Are you aware of your changing
moods? [Are you sure?] How fragile is your ego? [Are you sure?]
Do you have a true confidant? [Are you sure?] Do you perform brief
or not-so-brief self-assessments? Do you talk too much? [Are you
sure?] Do you know how to listen? [Are you sure?] Do you
listen? [Are you sure?] What is your style of “hashing things
out”? Are you perceived as (a) arrogant, (b) abrasive (c) attentive,
(d) genuinely interested in people, (e) etc? [Are you sure?] Are
you flexible? Have you changed your mind about anything important
in a while? Are you comfortable-uncomfortable with folks on the
front line? Do you think you’re “in touch with the pulse of
things around here”? [Are You Sure?] Are you too
emotional/intuitive? Are you too unemotional/rational? Do you
spend much time with people who are new to you? [Do you think
questions like this are “so much BS”?]
PURPOSE.
PASSION.
Potential.
Presence.
Personal.
pissed off.
Playful.
PERSISTENCE.
PEOPLE.
Peculiar.
Potent.
Positive.
Pissed Off* **
*As in “I’m pissed off and I’m not gonna take it any more …”
**Innovation Stems from Irritation
(Re-imagining Results from Rage)
PURPOSE.
PASSION.
Potential.
Presence.
Personal.
pissed off.
Playful.
PERSISTENCE.
PEOPLE.
Peculiar.
Potent.
Positive.
“You can’t be a serious
innovator unless and until
you are ready, willing and
able to seriously play.
‘Serious play’ is not an
oxymoron; it is the essence
of innovation.”
—Michael Schrage, Serious Play
READY.
FIRE!
PURPOSE.
PASSION.
Potential.
Presence.
Personal.
pissed off.
Playful.
PERSISTENCE.
PEOPLE.
Peculiar.
Potent.
Positive.
Relentless: “One of
my superstitions had always been
when I started to go anywhere or
not to
turn back , or stop,
to do anything,
until the thing intended was
accomplished.” —Grant
PURPOSE.
PASSION.
Potential.
Presence.
Personal.
pissed off.
Playful.
PERSISTENCE.
PEOPLE.
Peculiar.
Potent.
Positive.
‘do’
“Leaders
people.
Period.”
—Anon.
“Leaders
‘SERVE’
people.
Period.”
—Anon.
PURPOSE.
PASSION.
Potential.
Presence.
Personal.
pissed off.
Playful.
PERSISTENCE.
PEOPLE.
Peculiar.
Potent.
Positive.
“Normal” =
“o for 800”
The “Hang Out Axiom”: At
its core, every (!!!)
relationship-partnership
decision (employee,
vendor, customer, etc)
is a strategic decision
about:
“Innovate,
‘Yes’ or ‘No’ ”
PURPOSE.
PASSION.
Potential.
Presence.
Personal.
pissed off.
Playful.
PERSISTENCE.
PEOPLE.
Peculiar.
Potent.
Positive.
Kevin Roberts’ Credo
1. Ready. Fire! Aim.
2. If it ain’t broke ... Break it!
3. Hire crazies.
4. Ask dumb questions.
5. Pursue failure.
6. Lead, follow ... or get out of the way!
7. Spread confusion.
8. Ditch your office.
9. Read odd stuff.
10.
Avoid moderation!
“Never doubt that a small
group of committed
people can change the
world. Indeed it is
the only thing that
ever has.” —Margaret Mead
eliot + 7
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
PURPOSE.
PASSION.
Potential.
Presence.
Personal.
pissed off.
Playful.
PERSISTENCE.
PEOPLE.
Peculiar.
Potent.
Positive.
“[other]
admirals more
frightened of
losing than
anxious to win”
On NELSON:
PURPOSE.
PASSION.
Potential.
Presence.
Personal.
pissed off.
Playful.
PERSISTENCE.
PEOPLE.
Peculiar.
Potent.
Positive.
“Excellence can be obtained if you:
... care more than others think is wise;
... risk more than others think is safe;
... dream more than others think
is practical;
... expect more than others think
is possible.”
Source: Anon. (Posted @ tompeters.com by
K.Sriram, November 27, 2006 1:17 AM)
"Life is not a journey to the
grave with the intention of
arriving safely in one pretty
and well preserved piece, but
to skid across the line
broadside, thoroughly used
up, worn out, leaking oil,
shouting ‘GERONIMO!’ ”
—Bill McKenna, professional motorcycle racer
(Cycle magazine 02.1982)
Geron-imo!