Tom Peters’ EXCELLENCE. ALWAYS. Version.234 Women-Boomers-Geezers 03 November 2006 Thank You! FLOWER POWER “Courtesies of a small and trivial character are the ones which strike deepest in the grateful and appreciating.
Download ReportTranscript Tom Peters’ EXCELLENCE. ALWAYS. Version.234 Women-Boomers-Geezers 03 November 2006 Thank You! FLOWER POWER “Courtesies of a small and trivial character are the ones which strike deepest in the grateful and appreciating.
Tom Peters’
EXCELLENCE. ALWAYS.
Version.234
Women-Boomers-Geezers 03 November 2006
Thank You!
F L O W E R P O W E R
“Courtesies of a small and trivial character are the ones which strike deepest in the grateful and appreciating heart.”
—Henry Clay
The …
Jim Jeffords oversight!
THE PROBLEM IS RARELY/NEVER THE PROBLEM. THE RESPONSE TO THE PROBLEM INVARIABLY ENDS UP BEING THE REAL PROBLEM.
* ** *Watergate, M Stewart, BR **And: PERCEPTION IS ALL THERE IS!
Relationships (of all varieties) :
THERE ONCE WAS A TIME WHEN A THREE-MINUTE PHONE CALL WOULD HAVE AVOIDED SETTING OFF THE DOWNWARD SPIRAL THAT RESULTED IN A COMPLETE RUPTURE.
“WHY NOT JUST TELL THE TRUTH?”
—Raymond Carver
“If God spoke to me by saying, ‘Mark, you’re down to your last three words: What would you want to say to your fellow humans that would make the most positive impact?’ It would be a close call between Love Thy Neighbor and
Wash Your Hands .”
—Mark Pettus, M.D., The Savvy Patient “The most important thing you can do to keep from getting sick is to
wash your hands .”
— CDC /National Center for Infectious Diseases
The older I get the less boring the “basics” become!
A store is a store is a store is a store
…
The last word: There is no last word.
Flat as a Pancake (Or Worse)
Wal*Mart … Dell … Intel … Home Depot … Microsoft … GE
Tom Peters’
EXCELLENCE. ALWAYS.
Discover Network Merchant Advisory Council Chicago/02 November 2006
HA. HA. HA. HA. HA. HA. HA. HA. HA. HA. HA. HA. HA. HA. HA.
“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 very large one and just wait
.” —Paul Ormerod, Why Most Things Fail: Evolution, Extinction and Economics
“Forbes100” from 1917 to 1987 : 39 members of the Class of ’17 were alive in ’87; 18 in ’87 F100; 18 F100 “survivors” significantly underperformed the market; just 2 (2%),
GE
&
Kodak
, outperformed the market from 1917 to 1987.
Source: Dick Foster & Sarah Kaplan, Creative Destruction: Why Companies That Are Built to Last Underperform the Market
“
Ford, GM and Chrysler do not just make cars expensively … they make bad cars expensively.”
—Investec analyst, International Herald , 0805.06
Flat as a Pancake (Or Worse)
Wal*Mart … Dell … Intel … Home Depot … Microsoft … GE
HA. HA. HA. HA. HA. HA. HA. HA. HA. HA. HA. HA. HA. HA. HA.
“It is generally much easier to
kill an organization
than change it substantially.”
—Kevin Kelly, Out of Control
Message/Implication:
go for it!
C.E.O.
to
C.D.O.
EXCELLENCE. ALL . YOU. NEED. TO. KNOW.
“20-minute rule”
—Craig Johnson/30 yrs
EXCELLENCE. ALL . YOU. NEED. TO. KNOW.
“
A man without a smiling face must not open a shop.”
—Chinese Proverb
“The [Union senior] officers rode past the Confederates smugly without any sign of recognition except by one. ‘When
General Grant
reached the line of ragged, filthy, bloody, despairing prisoners strung out on each side of the bridge, he lifted his hat and held it over his head until he passed the last man of that living funeral cortege. He was the only officer in that whole train who recognized us as being on the face of the earth.’*”
*quote from the diary of a Confederate soldier
EXCELLENCE.
ALL. YOU. NEED.
TO. KNOW.
ANYWHERE.
ANY MARKET.
ANY TIME.
7X.
730A 800P.
F12A
.
*
* ’93-’03/10 yr annual return: CB: 29%; WM: 17%; HD: 16%. Mkt Cap: 48% p.a.
#1/100
“ Best Companies to / 2005 Work for”
EXCELLENCE.
ALL. YOU. NEED.
TO. KNOW.
ANYWHERE.
ANY MARKET.
ANY TIME.
Jim’s Group
EXCELLENCE. SIBERIA.
“Why in the world did you go to Siberia?”
Raging Success = P-SQUARED. C. E-CUBED.
People.
Product.
Customers.
Execution.
Enthusiasm.
Excellence.
Excellence1982: The Bedrock “Eight Basics” 1. A Bias for
Action
2. Close to the
Customer
3. Autonomy and Entrepreneurship 4. Productivity Through
People
5.
Hands On
, Value-Driven 6. Stick to the Knitting 7.
Simple
Form,
Lean
Staff 8. Simultaneous Loose-Tight Properties”
“Why in the world did you go to Siberia?”
Business* ** (*at its best):
An emotional, vital, innovative, joyful, creative, entrepreneurial endeavor that elicits maximum concerted human potential in the wholehearted service of others
.
*** ** Excellence. Always.
***Employees, Customers, Suppliers, Communities, Owners, Temporary partners
“To me business isn’t about wearing suits or pleasing stockholders. It’s about being true to yourself, your ideas and focusing on the essentials.”
—Richard Branson
“Pierson’s entire focus was
making airplanes
. Forgeard’s focus was
blurred by ambition
of EADS.”
— Newswee
. He wanted to move up and become co-chairman
k, 1023.06
EXCELLENCE. INNOVATE. OR. DIE.
“ It is not the strongest of the species that survives, nor the most intelligent, but the one most responsive to change.”
—Charles Darwin
EXCELLENCE. INNOVATE. ALL. WRONG.
More Than $$$$ R&D spending, last 25 years/USA?
“ I don’t believe in economies of scale.
You don’t get better by being bigger. You get worse
.”
—Dick Kovacevich/Wells Fargo
Flat as a Pancake (Or Worse)
Wal*Mart … Dell … Intel … Home Depot … Microsoft … GE
“When asked to name just one big merger that had lived up to expectations, Leon Cooperman, former cochairman of Goldman Sachs’ Investment Policy Committee, answered:
I’m sure there are success stories out there, but at this moment I draw a blank.”
—Mark Sirower, The Synergy Trap
EXCELLENCE. INNOVATE. AXIOMATIC.
The Mess Is the Message!
Period!
“We are in a brawl with no rules.”
—Paul Allaire
S.A.V.
EXCELLENCE. INNOVATE. TACTICS.
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. try it. Try it. Try it. try it. Try it.
Try it.
Try it. Try it. Try it.
“ 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
“Experiment fearlessly”
Source: BW 0821.06, Type A Organization Strategies/ “How to Hit a Moving Target”—
Tactic #1
“We made mistakes, of course. Most of them were omissions we didn’t think of when we initially wrote the software.
and again.
We fixed them by doing it over and over, 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
READY.
FIRE!
AIM.
Ross Perot (vs “ Aim! Aim! Aim!” /EDS vs GM/1985)
Excellence1982: The Bedrock “Eight Basics” 1.
A Bias for Action
2. Close to the Customer 3. Autonomy and Entrepreneurship 4. Productivity Through People 5. Hands On, Value-Driven 6. Stick to the Knitting 7. Simple Form, Lean Staff 8. Simultaneous Loose-Tight Properties”
Axiom:
“We are in a brawl with no rules.”
(PA) Implication:
“The world will not be kind to those who ‘play by the rules’.” *
(TP) Strategy:
S.A.V./R.F.A.
(RP/TP+) *Axiom: The microprocessor plays by the rules.
tolerate [encourage?] failure
Sam’s Secret
#1!
“Reward
excellent failures.
Punish
mediocre successes.”
Phil Daniels, Sydney exec
Bonus
Think!
vs.
do!
Tom peters 27 October 2006
Speed/ Tempo
“the
Fed
Ex
Economy”
—headline/ New York Times/ 10.08.05
“Any3”:
Anything/ Anywhere/ Anytime
re-imagine the “value added” equation
Up, Up, Up, Up
the Value-added Ladder.
The [NEW] “Value-added Ladder”
Gamechanging Solutions/ Implemented Customer success
Services/Transactions Manufactured Goods/Things Extracted Raw Materials
Department Head to …
Managing Partner, IS Inc.
[HR, R&D, etc.]
HCare CIO : “Technology Executive” (workin’ in a hospital) Or/to: Full-scale, Accountable (life or death) Member-Partner of XYZ Hosp ital’s Healing-Services Team Senior (who happens to be a techie)
UniCredit Group/ UniCredito Italiano* ** —3 rd party measurement —Customer-initiated measurement —Primary $$$$ incentives —“Factories” —Primary Corporate Initiative —Etc *#13 **TP/#1
“Experiences are as distinct from services as services are from goods.”
—Joe Pine & Jim Gilmore, The Experience Economy: Work Is Theatre & Every Business a Stage
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
The [NEW] “Value-added Ladder”
spellbinding Experiences Gamechanging Solutions
Services Goods Raw Materials
Furniture vs. Dreams “We do not sell ‘furniture’ at Domain.
We sell dreams
.
This is accomplished by addressing the half-formed needs in our customers’ heads. By uncovering these needs, we, in essence, fill in the blanks.
We convert ‘needs’ into ‘dreams.’ Sales are the inevitable result.”
— Judy George, Domain Home Fashions
Up, Up, Up, Up
the Value-added Ladder.
The [NEW] “Value-added Ladder”
dreams come true spellbinding Experiences Gamechanging Solutions
Services Goods Raw Materials
Dream Merchant: IBM
[totally] re-imagine the business around the two staggering “new” opportunities
women.
BOOMERS.
GEEZERS.
women.
BOOMERS.
GEEZERS.
The Copenhagen (Self) Pact re “This Topic”:
*Early!
*Loud!
*Repetitive!
*Aggressive!
*Unfriendly!/rude!/ insulting!
women
“Forget
China
,
India
and the
Internet
: Economic Growth Is Driven by
Women
.” Economist , April 15, 2006, Leader, page 14 —Headline,
Women’s Trifecta+
*
Buy
*
Wealth
*
Lead
+
ECLIPSE OF MALES
(Old/Retire; Young/Poorly educated)
Women’s Trifecta+
*Buy/
all
*Wealth/
all
*Lead/
better +Eclipse of males/ whoops
(Retire-old/Poorly educated-young)
1.
Women’s CONSUMER GOODS purchases . 2.
Women’s COMMERCIAL GOODS purchases .
3.
WOMEN ARE THE MARKET. Not an “initiative.” 4. Women-owned BUSINESSES (absolute #s, acceleration, relative growth).
5.
Women’s “brand” of LEADERSHIP SKILLS.
6.
women’s strengths match needs of the new “value-added ladder.” 7.
Women’s DRAMATICALLY INCREASING-commanding WEALTH —absolute, relative. (Jobs. Longevity.
Education. Entrepreneurial. Decline of BOYS. Retirement of MEN/Senior MEN.) 8. DEMOGRAPHIC TSUNAMI . WOMEN. Women as solo HEADs-OF-HOUSEHOLD. THE WOMaN BOOMER-GEEZER. LOoooNG-TERM PHENOMENON. Global phenomenon.
9. SPEED of “change.” mother of all “megatrends.”
1.
Participation
30 years.
rate/2 of 3 new jobs, last 2. Male workforce
departures
/SENIOR male workforce departures.
3.
Shrinking
pay gap/same jobs.
4. More senior positions. Greater decision making/expenditure/org design
authority
.
More line jobs.
5. Female
solo
head-of-household growing.
6.
Longevity
.
7.
Education
.
8. More effective
money management
.
Not. Yet. Done.*
Loyalty programs: M F “Difference” = Yawning gap (173+ degrees) Forced to do it: e.g., a division aimed at Boomer Women … Exclusively.
Just say no to “trickle up”: Why have the 5% chase the 95%?) Men think they’re doing their share (helping, sure, but the buck stops with her); busy, busy, busy —think Jim’s Group) New forms of living together, playing together as aging proceeds (“commune”, Beacon Hill Assn, telemedicine, etc, etc, etc.) “Grab ’em early & keep ’em”: Total Unmitigated Crap (TP: 100% brand switch. 100%.) “They didn’t take it seriously” —German bank exec, Bonn, F This is not a $%^&ing “program.” This is “NEW Life 101.” This is Soooo Big it Staggers the Imagination. (Will be paramount “trend” for 20 years.) *The Copenhagen Pact
“Women are
the
majority market”
—Fara Warner/ The Power of the Purse
“Idiot”
is too kind a word.
“That’s a very diverse* team.”
—Patrick Cescau, CEO, Unilever** * 1 of 14 Board of Directors members is a woman (not an exec); 2 of 7 Exec Team members are … Indians.
(Source: FT/24-25 June.) 85% ** Approximately of Unilever’s products are purchased by … women.
“That’s a
VERY
diverse team.”
—Patrick Cescau, CEO, Unilever * ** * 1 of 14 Board of Directors members is a woman (not an exec); 2 of 7 Exec Team members are … Indians.
(Source: FT/24-25 June.) ** Approximately 85% of Unilever’s products are purchased by … women.
“That’s a
VERY
man.” sick
—Tom Peters
Good Thinking, Guys!
“Kodak Sharpens Digital Focus On Its Best Customers:
Women”
—Page 1 Headline/ WSJ / 0705
EXCELLENCE. FOUND.
DUH.
“
To be a leader in consumer products, it’s critical to have leaders who represent the population we serve.”
—Steve Reinemund/PepsiCo
“Women are
the
majority market”
—Fara Warner/ The Power of the Purse
The Perfect Answer Jill and Jack buy slacks in black…
“
She knows more
about the [Volvo] than the sales slightly has
no right
his time
man
who greets her at the door. But how is she treated? As if she has a
hard of hearing low IQ
, and really to be buying a luxury car; and if she brought a male friend with her, odds are 10:1 that the clueless salesperson spent most of
speaking to him
.” , is
—Selling to Men, Selling to Women , Jeffery Tobias Halter
“Women don’t buy brands.
They join them.”
EVEolution
Selling to men:
The TRANSACTION Model
Selling to Women:
RELATIONAL The Model
Source:
Selling to Men, Selling to Women , Jeffery Tobias Halter
“Women come out better on almost every count as investors
… They are less likely to hold a losing investment too long, and less likely to wait too long to sell a winner; they’re also less likely to put too much money into a single investment or to buy a reputedly hot stock without doing sufficient research.”
Source: The Merrill report: “When It Comes to Investing, Gender A Strong Influence on Behavior.”/ Atlantic
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.
“Goldman Sachs in Tokyo has developed an
index of 115 companies poised to benefit from women’s increased purchasing power
over the past decade the value of ; shares in Goldman’s basket has
risen by 96% , against the Tokyo stockmarket’s rise of 13% .”
—Economist , 15 April 2006
P-l-e-a-s-e Read …
Fara Warner
:
The Power of the Purse
Cases! Cases! Cases!
McDonald’s (“mom-centered” to “majority consumer”; not Home Depot via kids) (“Do it [everything!] Herself”) P&G (more than “house cleaner”) DeBeers (“right-hand rings”/$4B) AXA Financial Kodak Nike Bratz (women = “emotional centers of the household”) (> jock endorsements; new def sports; majority consumer) Avon (young girls want “friends,” not a blond stereotype) Source: Fara Warner/ The Power of the Purse
12.2002: $-344M *International *Build *Men & Children Source: 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 in favor of focusing on men— generally considered the industry’s most frequent users and therefore its most important consumers—or they were cast in the role of moms who were simply conduits to their children.”
—Fara Warner, The Power of the Purse , “From Minority to Majority: McDonald’s Discovers the Woman Inside the Mom”
“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”)
“Women
[in women-only focus groups]
told us that all moms are women, but not all women are moms—so why weren’t we trying to reach all women? We realized we should be finding the woman inside the mom.”
—Carol Koepke, marketing director (Fara Warner, The Power of the Purse “From Minority to Majority: McDonald’s Discovers the Woman Inside the Mom”) ,
“McDonald’s shifted its strategy toward women from one of ‘minority’ consumers who served as a conduit to the important children’s market to one in which women are the company’s majority consumers and the main driver behind menu and promotion innovation.”
—Fara Warner, The Power of the Purse , “From Minority to Majority: McDonald’s Discovers the Woman Inside the Mom”
New! New! New! New! New!
Women’s magazines
McDonald’s had rarely used”] [“a medium that Source: Fara Warner, The Power of the Purse “From Minority to Majority: McDonald’s Discovers the Woman Inside the Mom” ,
“Forget
China
,
India
and the
Internet
: Economic Growth Is Driven by
Women
.
” —Headline, Economist , April 15, 2006, Leader, page 14
“The growth and success of women owned businesses is one of the most profound changes taking place in the business world today.”
— Margaret Heffernan, How She Does It
U.S. firms owned or controlled by Women: 10.6 million (48% of all firms) Growth rate of Women-owned firms vs all firms: 3X Rate of jobs created by Women-owned firms vs all firms: 2X Ratio of total payroll of Women-owned firms vs total for Fortune500 firms: >1.0
Ratio of likelihood of Women-owned firms staying in business vs all firms: >1.0
Growth rate of Women-owned companies with revenues of >$1,000,000 and >100 employees vs all firms: 2X Source: Margaret Heffernan, How She Does It
94% of loans to …
women*
* M
icrolending; “Banker to the poor”; Grameen Bank; Muhammad Yunus; 2006 Nobel Peace Prize winner
“Economic Growth Is Driven by …
Women
.” —Headline, Economist , April 15, 2006, Leader, page 14
Impact! Add It Up!
Primary markets/Everything (“Men buy things that other men will buy for women. I buy things that women want.”— successful jeweler/F. “Women are the majority market” —Fara Warner/The Power of the Purse. Women as Purchasing Officers, CIOs, etc.) Greater global workforce participation rate Higher wages (“bigger contributor to GDP growth than technology, China, India”—Economist) (more seniority, promotions —even if not to CEO; greater pay equity —even if not equal) Business “decision makers” seniority, promotions —even if not to CEO) Women-owned businesses (more (answer to the Glass Ceiling —10.6M in USA; recipients of “micro-lending”—developing world)
10 UNASSAILABLE REASONS WOMEN RULE Women Women Women Women make [all] the financial decisions.
control [all] the wealth.
[substantially] outlive men.
start most of the new businesses.
Women’s Women work force participation rates have soared worldwide.
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 system.
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
“Since 1970, women have held two out of every three new jobs created.”
— FT , 10.03.2006
1.
Participation
30 years.
rate/2 of 3 new jobs, last 2. Male workforce
departures
/SENIOR male workforce departures.
3.
Shrinking
pay gap/same jobs.
4. More senior positions. Greater decision making/expenditure/organization design
authority
. More line jobs.
5. Female
solo
6.
Longevity
.
head-of-household growing.
7.
Education
.
8. More effective
money management
.
“AS LEADERS, WOMEN RULE:
New Studies find that female managers outshine their male counterparts in almost every measure” Title , Special Report/ BusinessWeek
Women’s Strengths Match New Economy Imperatives: Link [rather than rank] workers; favor interactive-collaborative leadership
style [empowerment beats top-down decision
making]; sustain fruitful collaborations; comfortable with sharing information; see redistribution of power as victory, not surrender; favor multi-dimensional feedback; value technical & interpersonal skills, individual & group contributions equally; readily accept ambiguity; honor intuition as well as pure “rationality”; inherently flexible; appreciate
cultural diversity
.
—Judy B. Rosener, America’s Competitive Secret: Women Managers
Women’s Negotiating Strengths *Ability to put themselves in their counterparties’ shoes *Comprehensive, attentive and detailed communication style *Empathy that facilitates trust-building *Curious and attentive listening *Less competitive attitude *Strong sense of fairness and ability to persuade *Proactive risk manager *Collaborative decision-making Source: Horacio Falcao, Cover story/May 2006, World Business , “Say It Like a Woman: Why the 21 st -century negotiator will need the female touch”
New (4 of 7) Value-added “Ladder”: Plays to Women’s Inherent Strengths!
Lovemark/
F
Dreams Come True/
F
Spellbinding Experiences/
F
Gamechanging Solutions/
F
Services/
F
Goods/
M
Raw Materials/
M
“TAKE THIS QUICK QUIZ:
at once?
appearance?
Who manages more things
Who puts more effort into their
Who usually takes care of the details?
people?
do’ list?
events?
Who finds it easier to meet new
conversation?
Who asks more questions in a
Who is a better listener?
Who has more interest in communication skills?
Who is more inclined to get involved?
Who encourages harmony and agreement?
better intuition?
Who has
Who works with a longer ‘to
Who enjoys a recap to the day’s
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
boomers geezers
Subject: Marketers & Stupidity “
It’s 18-44, stupid!”
Subject: Marketers & Stupidity Or is it:
“
18-44 is stupid, stupid!”
“One particularly puzzling category of youth obsession is the highly coveted target of men 18-34, and it’s always referred to as ‘highly coveted category.’ Marketers have been distracted by men age 18-34 because they are getting harder to reach. So what? Who wants to reach them?
Beyond fast food and beer, they don’t buy much of anything. … The theory is that if you ‘get them while they’re young, they’re yours for life.’
What nonsense!” —
Marti Barletta, PrimeTime Women
2000-2010 Stats
18-44:
-1%
55+:
+21%
(55-64:
+47%
)
!!!!!!!!!!!!!!!!!
“People turning 50 today have more than half of their adult life ahead of them.”
—Bill Novelli, 50+: Igniting a Revolution to Reinvent America
BoomerBucks!
Boomer turns 50: every 7 seconds. over-50 group. average is $42,209).
category). 2009: majority of U.S. households headed by someone over 50.
2006 2016: U.S. population up 22.9 million; 22.1 million in 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 FASTEST GROWING INCOME CATEGORY: WOMEN, 55-64 (4X men in same 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.
discretionary spending. Age 50+: 29% of population, 40% of total consumer spending, 50% of Next 2 decades: BOOMERS WILL INHERIT $14 TRILLION-$25 TRILLION (“largest intergenerational transfer of wealth in history”). —Marti Barletta, PrimeTime Women
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
3Q/2006.
$312M. (+18%.) $1.6B. (+14%.) Source: BusinessWeek , 1106.06, “Harley Just Keeps on Cruisin’: Aging customers? Sure. Nostalgia brand? Definitely. So why is the stock at a record high?”
“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
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
44-65:
“New Customer Majority”
* *45% larger than 18-43; 60% larger by 2010 Source: Ageless Marketing , David Wolfe & Robert Snyder
“The New Customer Majority is the only adult market with realistic prospects for significant sales growth in dozens of product lines for thousands of companies.”
—David Wolfe & Robert Snyder, Ageless Marketing
“Baby-boomer Women
Marketers” : The Sweetest of Sweet Spots for
—David Wolfe and Robert Snyder, Ageless Marketing
Magazine of the Year*:
More
Source: Advertising Age , 1023.
2006 , “‘More’ Taps Power of 40-plus to Draw Advertisers in Droves”
(“More is breaking through advertisers’ irrational obsession with 20-somethings …”)
Boomers’-Geezers’-Women’s Trifecta+
*Buy/
all
*Wealth/
all
*time left/
lots *Eclipse of males/ retire-die
BONUS.
EXCELLENCE. OPPORTUNITY.
ENORMOUS.
GENERIC DEMOGRAPHIC TSUNAMI. (UNPRECEDENTED IN HISTORY.)
Demographic Upheaval!
1/1/2008: 60% of the Prime Work Force (“boomers”), mostly white males, will be able to retire—at a rate of 10,000 per day .
As of 2005: 75% of people entering the workforce are women and minorities. As of 2008, they will “flood the management ranks” as the PWF retires.
Programs for recruiting women and minorities with the necessary intensity: mostly AWOL.
Selling to Men, Selling to Women , Jeffery Tobias Halter
We become who we spend time with!
Measure “Strangeness”/Portfolio Quality Staff Consultants Vendors Out-sourcing Partners Competitors Customers Product Portfolio IS/IT Projects HQ Location Lunch Mates Language (#, Quality) Innovation Alliance Partners (who we “benchmark” against) Strategic Initiatives (LineEx v. Leap) Board
“ The Bottleneck Is at the Top of the Bottle”
“Where are you likely to find people with the least diversity of experience, the largest investment in the past, and the greatest reverence for industry dogma:
At the top!”
— Gary Hamel/ Harvard Business Review
EXCELLENCE.
1966. 2006.
De-centralization execution accountability 6:15a.m.
De-centralization execution accountability 6:15a.m.
“‘Decentralization’ is not a piece of paper. It’s not me. It’s either in your heart, or not.” — Brian Joffe/BIDvest
“If if feels painful and scary —that’s real delegation”
—Caspian Woods, small biz owner
De-centralization execution accountability 6:15a.m.
“
Execution is the job of the business leader
.”
—Larry Bossidy & Ram Charan/ Execution: The Discipline of Getting Things Done
“ Execution is a
systematic process
of rigorously discussing hows and whats, tenaciously following through, and ensuring accountability.” —Larry Bossidy & Ram Charan/ The Discipline Execution: of Getting Things Done
De-centralization execution accountability 6:15a.m.
“GE has set a standard of candor. … There is no puffery. …
There isn’t an ounce of denial in the place.”
—Kevin Sharer, CEO Amgen, on the “GE mystique” (Fortune)
De-centralization execution accountability 6:15a.m.
De-centralization execution accountability 6:15a.m.
EXCELLENCE. BEDROCK.
TALENT.
Hire very good people!
“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
INVITE THEM TO JOIN US IN A JOURNEY TO EXCELLENCE!
“In the end, management doesn’t change culture. Management
invites
the workforce itself to change the culture.” —Lou Gerstner
“The role of the Director is to create a space where the actor or actress can
become more than they’ve ever been before, more than they’ve dreamed of being.”
—Robert Altman, Oscar acceptance
EMPHASIZE THE “SOFT SKILLS.”
A Few “Talent Lessons” from the Arts
Each hired and developed and inspired and evaluated in unique ways
(23 contributors = 23 unique contributions = 23 pathways = 23 distinct personalities = 23 sets of motivators)
Attitude/Enthusiasm/Energy paramount!
Re-lent-less!!!!!!!!!!!
“Peculiar” = requisite
(Each expected to make unique/“peculiar” contribution)
“Practice is cool”
(Practice stars = Performance stars. See George Leonard’s Mastery; Twyla Tharp’s The Creative Habit)
Team and Individual equally cherished Aspire to EXCELLENCE = Obvious
(Excellence = Cool))
Ex-e-cu-tion Talent = Brand = Duh “The Project” rules Emotional language Okay “Bit players”? No!
(All = Vital)
Standard = B.I.W
. (Best. In. World.)
Different events = Different rosters
(Duh.)
PUT HR AT THE HEAD OF THE HEAD TABLE.
DD $21M
A review of Jack and Suzy Welch’s
Winning
claims there are but two key differentiators that set GE “culture” apart from the herd:
First:
Separating financial forecasting and performance measurement.
Performance measurement based, as it usually is, on budgeting leads to an epidemic of gaming the system. GE’s performance measurement is divorced from budgeting —and instead reflects how you do relative to your past performance and relative to competitors’ performance; i.e., it’s about how you actually do in the context of what happened in the real world, not as compared to a gamed-abstract plan developed last year.
Second: Putting HR a par with finance and marketing.
on
LIVE FOR TALENT!
Our Mission
To develop and manage talent; to apply that talent, throughout the world, for the benefit of clients; to do so in partnership; to do so with profit.
WPP
SO YOU’RE A “PEOPLE PERSON”? PROVE IT.
PARC’s Bob Taylor:
“Connoisseur of Talent”
Brand = Talent.
EXCELLENCE. BEDROCK.
LEADERSHIP.
“People want to be part of something larger than themselves.
They want to be part of something they’re really proud of, that they’ll fight for , trust.” sacrifice for , —
Howard Schultz, Starbucks (IBD/09.05)
“I never, ever thought of myself as a businessman. I was interested in creating things I would be proud of.”
— Richard Branson
“
Nothing is so contagious as enthusiasm.”
—Samuel Taylor Coleridge
“Most important, he
upped the energy level
Motorola.”
— Fortune on Ed Zander/08.05
at
“
You must
be
the change you wish to see in the world.”
Gandhi
“The First step in a ‘dramatic’ ‘organizational change program’ is obvious— dramatic personal change!”
—RG
Relentless:
“One of my superstitions had always been when I started to go anywhere or to do anything,
not to turn back
, or stop, until the thing intended was accomplished.”
—Grant
“ Success seems to be largely a matter of
hanging on
after others have let go.”
—William Feather, author
“Leaders
‘do’
people. Period.”
—Anon.
PURPOSE.
PASSION.
Presence.
Personal.
PERSISTENCE.
PEOPLE.
“No leader sets out to be a leader per se,
but rather to express him- or herself freely and fully .
That is, leaders have no interest in proving themselves, but an abiding interest in expressing themselves.”
— Warren Bennis, On Becoming a Leader
You only find oil if you drill wells .
—The
Hunters , by John Masters, Canadian O & G wildcatter
EX
CELLE ALW
AYS
.
Bonus
Think!
vs.
do!
Tom peters 27 October 2006
Think!
vs.
do!
“Never forget implementation , boys. In our work, it’s what I call the ‘last 98 percent’ of the client puzzle.”
—Al McDonald, former Managing Director, McKinsey & Co, to a project team that included TP
The (Strange) Case of Peter Drucker & Michael Porter vs. The “Non-linearists”
HERBERT SIMON.
(Administrative Behavior.)
JAMES MARCH. KARL WEICK.
(The Social Psychology of Organizing.)
EUGENE WEBB. Henry MINTZBERG.
(The Rise and Fall of Strategic Planning.)
JAMES UTTERBACK. THOMAS KUHN.
(The Structure of Scientific Revolutions.)
CHARLES LINDBLOM. Daniel goleman. INNOVATION BIOGRAPHERS.*
(*Transcontinental Railroad, Electrification, Radio, Television, Containerization, DNA, Computers, Military History, Etc.)
MOST POLITICAL SCIENTISTS. SILICON VALLEY. Etc.
“Linearist”:
Plan it!
“Non-linearist”:
Try it!
“Linearist”:
think!
“Non-linearist”:
do!
“Linearist”:
hypothesize!
“Non-linearist”:
experiment!
“Linearist”:
failure = unnecessary
“Non-linearist”:
failure = life
“Linearist”:
a>b*
“Non-linearist”:
b>a**
*Attitude shapes behavior **Behavior shapes attitude
“Linearist”:
deliberate!*
“Non-linearist”:
relentless!**
* “Do it right the first time” (Hero: Phil Crosby) **Never retreat (Hero: U.S. Grant)
“Linearist”:
logical!
“Non-linearist”:
passionate!
“Linearist”:
give me genius!
“Non-linearist”:
give me luck!
“Linearist”:
spotless academic record!
“Non-linearist”:
a.d.d.
“Linearist”:
measured pace!
“Non-linearist”:
Tempo! Tempo! Tempo!
“Linearist”:
think! Plan! (r.
a.
f.*)
“Non-linearist”:
Try it! Screw it up! Fix it! Try it again! (r.
f.
a.**) *Ready. Aim.
Fire.
**ready. Fire.
Aim. (Or, circa 2006: fire. Fire. Fire.
)
Cheap Shot
“Linearist”:
minimize cost.
“Non-linearist”:
maximize revenue.
“Linearist”:
marketing rules.
“Non-linearist”:
sales rules.
“Linearist”
Background: planning, marketing & finance.
“Non-linearist”
background: sales & operations.
“Linearist”
likes: ideas.
“Non-linearist”
likes: people.
“Linearist”
likes: parts.
“Non-linearist”
likes: wholes.
“Linearist”
office: walls.
“Non-linearist”
office: none.
“Linearist”
style: meetings.
“Non-linearist”
style: m.b.w.a.* *Managing by wandering around
“Linearist”
reads: michael porter. Peter drucker.*
“Non-linearist”
reads: waterman & peters.
Tom clancy.** *Michael & peter **Bob & tom & tom
“Linearist”
reads: michael porter. Peter drucker.
“Non-linearist”
reads: doesn’t
“Linearist”
preferred baseball score: 1-0.
“Non-linearist”
preferred baseball score: 11-9.
“Linearist”
preferred football score: 7-0.
“Non-linearist”
preferred football score: 41-38.
“Linearist”
criminal record: none.
“Non-linearist”
criminal record: disorderly conduct.
Chronic jaywalking.
“Linearist”
drives: lincoln town car. Ford explorer (weekends).
“Non-linearist”
drives: bmw. Harley davidson (weekends).
The (Strange) Case of Peter Drucker & Michael Porter vs. The “Non-linearists”
HERBERT SIMON.
(Administrative Behavior.)
JAMES MARCH. KARL WEICK.
(The Social Psychology of Organizing.)
EUGENE WEBB. Henry MINTZBERG.
(The Rise and Fall of Strategic Planning.)
JAMES UTTERBACK. THOMAS KUHN.
(The Structure of Scientific Revolutions.)
CHARLES LINDBLOM. Daniel goleman. INNOVATION BIOGRAPHERS.*
(*Transcontinental Railroad, Electrification, Radio, Television, Containerization, DNA, Computers, Military History, Etc.)
MOST POLITICAL SCIENTISTS. SILICON VALLEY. Etc.
EX
CELLE ALW
AYS