The Reimagination Imperative A Passion for Passion Tom

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The Re-imagination Imperative: A Passion for Passion! Tom Peters/ National Leadership Summit 2004/ Minneapolis/26

The Re-imagination Imperative: A Passion for Passion! Tom Peters/ National Leadership Summit 2004/ Minneapolis/26 June 04

Slides at … tompeters. com

Slides at … tompeters. com

“Uncertainty is the only thing to be sure of. ” —Anthony Muh, head of

“Uncertainty is the only thing to be sure of. ” —Anthony Muh, head of investment in Asia, Citigroup Asset Management “If you don’t like change, you’re going to like irrelevance even less. ” —General Eric Shinseki, retired Chief of Staff, U. S. Army

Context: A Perfect Storm.

Context: A Perfect Storm.

A Perfect Storm Jobs Technology Globalization Security

A Perfect Storm Jobs Technology Globalization Security

“ 14 MILLION service jobs are in danger of being shipped overseas” —UCB study/11.

“ 14 MILLION service jobs are in danger of being shipped overseas” —UCB study/11. 04

“When I was growing up, my parents used to say to me: ‘Finish your

“When I was growing up, my parents used to say to me: ‘Finish your dinner—people in China are starving. ’ I, by contrast, find myself wanting to say to my daughters: ‘Finish your homework— people in China and India are starving for your job. ’ ” —Thomas Friedman/06. 24. 2004

E. g. … Jeff Immelt: 75% of “admin, back room, finance” “digitalized” in 3

E. g. … Jeff Immelt: 75% of “admin, back room, finance” “digitalized” in 3 years. Source: BW (01. 28. 02)

“This is a dangerous world and it is going to become more dangerous. ”

“This is a dangerous world and it is going to become more dangerous. ” “We may not be interested in chaos but chaos is interested in us. ” Source: Robert Cooper, The Breaking of Nations: Order and Chaos in the Twenty-first Century

Biases & Purpose.

Biases & Purpose.

“In Tom’s world, it’s always better to try a swan dive and deliver a

“In Tom’s world, it’s always better to try a swan dive and deliver a colossal belly flop than to step timidly off the board while holding your nose. ” —Fast Company /October 2003

The greatest danger for most of us is not that our aim is too

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

It is the foremost task—and responsibility— of our generation to re-imagine our enterprises, private

It is the foremost task—and responsibility— of our generation to re-imagine our enterprises, private and public. —from the back cover, Reimagine!

#1: A Bias for Action.

#1: A Bias for Action.

“We have a ‘strategic’ plan. It’s called doing things. ” — Herb Kelleher

“We have a ‘strategic’ plan. It’s called doing things. ” — Herb Kelleher

Fail. Forward. Fast.

Fail. Forward. Fast.

Sam’s Secret #1!

Sam’s Secret #1!

Fail. Forward. Fast. –High-tech Exec

Fail. Forward. Fast. –High-tech Exec

“Reward excellent failures. Punish mediocre successes. ” Phil Daniels, Sydney exec (and, de facto,

“Reward excellent failures. Punish mediocre successes. ” Phil Daniels, Sydney exec (and, de facto, Jack)

Weird Wins!

Weird Wins!

Huh? “Quiet, workmanlike, stoic leaders bring about the big transformations. ” —JC

Huh? “Quiet, workmanlike, stoic leaders bring about the big transformations. ” —JC

Wellington Nelson Disraeli Churchill Montgomery Thatcher

Wellington Nelson Disraeli Churchill Montgomery Thatcher

T. Paine/P. Henry/A. Hamilton/T. Jefferson/B. Franklin A. Lincoln/U. S. Grant/W. T. Sherman TR/FDR/LBJ/RR/JFK Patton/Monty/Halsey

T. Paine/P. Henry/A. Hamilton/T. Jefferson/B. Franklin A. Lincoln/U. S. Grant/W. T. Sherman TR/FDR/LBJ/RR/JFK Patton/Monty/Halsey M. L. King/C. de Gaulle/M. Gandhi/W. Churchill Picasso/Mozart/Copernicus/Newton/Einstein/Djarassi/Watson H. Clinton/G. Steinem/I. Gandhi/G. Meir/M. Thatcher E. Shockley/A. Grove/J. Welch/L. Gerstner/L. Ellison/B. Gates/ S. Jobs/S. Mc. Nealy/T. Turner/R. Murdoch/W. Wriston A. Carnegie/J. P. Morgan/H. Ford/S. Honda/J. D. Rockefeller/ T. A. Edison Rummy/Norm/Henry/Wolfie Elizabeth Cady Stanton/Susan B. Anthony/Martha Cary Thomas/Carrie Chapman Catt/Alice Paul/Anna Elizabeth Dickinson/Arabella Babb Mansfield/Margaret Sanger

FLASH: Innovation is easy !

FLASH: Innovation is easy !

Saviors-in-Waiting Disgruntled Customers Off-the-Scope Competitors Rogue Employees Fringe Suppliers Wayne Burkan, Wide Angle Vision:

Saviors-in-Waiting Disgruntled Customers Off-the-Scope Competitors Rogue Employees Fringe Suppliers Wayne Burkan, Wide Angle Vision: Beat the Competition by Focusing on Fringe Competitors, Lost Customers, and Rogue Employees

“To grow, companies need to break out of a vicious cycle of competitive benchmarking

“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/08. 11. 03

“This is an essay about what it takes to create and sell something remarkable.

“This is an essay about what it takes to create and sell something remarkable. It is a plea for originality, passion, guts and daring. You can’t be remarkable by following someone else who’s remarkable. One way to figure out a theory is to look at what’s working in the real world and determine what the successes have in common. But what could the Four Seasons and Motel 6 possibly have in common? Or Neiman-Marcus and Wal*Mart? Or Nokia (bringing out new hardware every 30 days or so) and Nintendo (marketing the same Game Boy 14 years in a row)? It’s like trying to drive looking in the The thing that all these companies have in common is that they have nothing in common. They are outliers. They’re on rearview mirror. the fringes. Superfast or superslow. Very exclusive or very cheap. Extremely big or extremely small. The reason its so hard to follow the leader is this: The leader is the leader precisely because he did something remarkable. And that remarkable thing is now taken—so it’s no longer remarkable when you decide to do it. ” —Seth Godin, Fast Company/02. 2003

“The Bottleneck is at the Top of the Bottle” “Where are you likely to

“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, “Strategy or Revolution/ Harvard Business Review

I Don’t Know!

I Don’t Know!

“Ninety percent of what we call ‘management’ consists of making it difficult for people

“Ninety percent of what we call ‘management’ consists of making it difficult for people to get things done. ” – P. D.

“I don’t know. ”

“I don’t know. ”

Quests!

Quests!

Organizing Genius / Warren Bennis and Patricia Ward Biederman “Groups become great only when

Organizing Genius / Warren Bennis and Patricia Ward Biederman “Groups become great only when everyone in them, leaders and members alike, is free to do his or her absolute best. ” “The best thing a leader can do for a Great Group is to allow its members to discover their greatness. ”

Best Talent Wins!

Best Talent Wins!

Brand = Talent.

Brand = Talent.

“The leaders of Great Groups love talent and know where to find it. They

“The leaders of Great Groups love talent and know where to find it. They revel in the talent of others. ” Warren Bennis & Patricia Ward Biederman, Organizing Genius

Les Wexner: From sweaters to people!

Les Wexner: From sweaters to people!

Women Rule!

Women Rule!

“AS LEADERS, WOMEN RULE: New Studies find that female managers outshine their male counterparts

“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

Women’s Strengths Match New Economy Imperatives: Link [rather than rank] workers; favor interactive-collaborative leadership

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. Source: Judy B. Rosener, America’s Competitive Secret: Women Managers

“Internationally, the United th States ranked 60 in women’s leadership, behind Sierra Leone and

“Internationally, the United th States ranked 60 in women’s leadership, behind Sierra Leone and tied with Andorra. ” —Marie Wilson, Closing the Leadership Gap

10. 1/28/3. 6

10. 1/28/3. 6

Educate for a Creative Society!

Educate for a Creative Society!

Age of Agriculture Industrial Age of Information Intensification Age of Creation Intensification Source: Nomura

Age of Agriculture Industrial Age of Information Intensification Age of Creation Intensification Source: Nomura Research Institute

“My wife and I went to a [kindergarten] parent-teacher conference and were informed that

“My wife and I went to a [kindergarten] parent-teacher conference and were informed that our budding refrigerator artist, Christopher, would be receiving a grade of Unsatisfactory in art. We were shocked. How could any child—let alone our child—receive a poor His teacher informed us that he had refused to color within the lines, which was a state requirement for demonstrating ‘grade-level motor skills. ’ ” grade in art at such a young age? Jordan Ayan, AHA!

Ye gads: “Thomas Stanley has not only found no correlation between success in school

Ye gads: “Thomas Stanley has not only found no correlation between success in school and an ability to accumulate wealth, he’s actually found a negative correlation. ‘It seems that schoolrelated evaluations are poor predictors of economic success, ’ Stanley concluded. What did predict success was a willingness to take risks. Yet the success-failure standards of most schools penalized risk takers. Most educational systems reward those who play it safe. As a result, those who do well in school find it hard to take risks later on. ” Richard Farson & Ralph Keyes, Whoever Makes the Most Mistakes Wins

15 “Leading” Biz Schools Design/Core: 0 Design/Elective: 1 Creativity/Core: 0 Creativity/Elective: 4 Innovation/Core: 0

15 “Leading” Biz Schools Design/Core: 0 Design/Elective: 1 Creativity/Core: 0 Creativity/Elective: 4 Innovation/Core: 0 Innovation/Elective: 6 Source: DMI/Summer 2002

Make Dreams Come True!

Make Dreams Come True!

From Products and Services to Scintillating Experiences

From Products and Services to Scintillating Experiences

“The ‘surplus society’ has a surplus of similar companies, employing similar people, with similar

“The ‘surplus society’ has a surplus of similar companies, employing similar people, with similar educational backgrounds, coming up with similar ideas, producing similar things, with similar prices and similar quality. ” Kjell Nordström and Jonas Ridderstråle, Funky Business

The “Experience Ladder” Experiences Services Goods Raw Materials

The “Experience Ladder” Experiences Services Goods Raw Materials

“Experiences are as distinct from services as services are from goods. ” Joseph Pine

“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

“Club Med is more than just a ‘resort’; it’s a means of rediscovering oneself,

“Club Med is more than just a ‘resort’; it’s a means of rediscovering oneself, of inventing an entirely new ‘me. ’ ” Source: Jean-Marie Dru, Disruption

Experience: “Rebel Lifestyle!” “What we sell is the ability for a 43 -year-old accountant

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

Duet … Whirlpool … “washing machine” to “fabric care system” … white goods: “a

Duet … Whirlpool … “washing machine” to “fabric care system” … white goods: “a sea of undifferentiated boxes” … $400 to $1, 300 … “the Ferrari of washing machines” … consumer: “They are our little mechanical buddies. They have personality. When they are running efficiently, our lives are running efficiently. They are part of my family. ” … “machine as aesthetic showpiece” … “laundry room” to “family studio” / “designer laundry room” (complements Sub-Zero refrigerator and home-theater center) Source: New York Times Magazine/01. 11. 2004

1997 -2001 >$600: 10% to 18% $400 -$600: 49% to 32% <$400: 41% to

1997 -2001 >$600: 10% to 18% $400 -$600: 49% to 32% <$400: 41% to 50% Source: Trading Up, Michael Silverstein & Neil Fiske

WHAT CAN BROWN DO FOR YOU?

WHAT CAN BROWN DO FOR YOU?

Dream Marketing

Dream Marketing

The Marketing of Dreams (Dreamketing) Dreamketing: Touching the clients’ dreams. Dreamketing: The art of

The Marketing of Dreams (Dreamketing) Dreamketing: Touching the clients’ dreams. Dreamketing: The art of telling stories and entertaining. Dreamketing: Promote the dream, not the product. Dreamketing: Build the brand around the main dream. Dreamketing: Build the “buzz, ” the “hype, ” the “cult. ” Source: Gian Luigi Longinotti-Buitoni

Furniture vs. Dreams “We do not sell ‘furniture’ at Domain. sell dreams. We This

Furniture vs. Dreams “We do not sell ‘furniture’ at Domain. sell dreams. We 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

(Revised) Experience Ladder Dreams Come True Experiences Services Goods Raw Materials

(Revised) Experience Ladder Dreams Come True Experiences Services Goods Raw Materials

Trends Worth Trillion$$$: Pursue the “BIG 2” Underserved Markets.

Trends Worth Trillion$$$: Pursue the “BIG 2” Underserved Markets.

Women!

Women!

? ? ? ? ? Home Furnishings … 94% Vacations … 92% (Adventure Travel

? ? ? ? ? Home Furnishings … 94% Vacations … 92% (Adventure Travel … 70%/ $55 B travel equipment) Houses … 91% D. I. Y. (major “home projects”) … 80% Consumer Electronics … 51% (66% home computers) Cars … 68% (90%) All consumer purchases … 83% Bank Account … 89% Household investment decisions … 67% Small business loans/biz starts … 70% Health Care … 80%

Read This Book … EVEolution: The Eight Truths of Marketing to Women Faith Popcorn

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

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

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

“The ‘Connection Proclivity’ in women starts early. When asked, ‘How was school today? ’

“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

“Women don’t buy brands. They join them. ” EVEolution

“Women don’t buy brands. They join them. ” EVEolution

1. Men and women are different. 2. Very different. 3. VERY, VERY DIFFERENT. 4.

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.

“War has broken out over your home-improvement dollar, and Lowe’s has superpower Home Depot

“War has broken out over your home-improvement dollar, and Lowe’s has superpower Home Depot on the defensive. It’s not-sosecret ploy: Lure women. ” —Forbes. com

Boomers & Geezers

Boomers & Geezers

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

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

44 -65: “New Consumer Majority” * *45% larger than 18 -43; 60% larger by

44 -65: “New Consumer Majority” * *45% larger than 18 -43; 60% larger by 2010 Source: Ageless Marketing, David Wolfe & Robert Snyder

“The New Consumer Majority is the only adult market with realistic prospects for significant

“The New Consumer 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

“Households headed by someone 40 or older enjoy 91% ($9. 7 T) of our

“Households headed by someone 40 or older enjoy 91% ($9. 7 T) of our population’s net worth. … The mature market is the dominant market in the U. S. economy, making the majority of expenditures in virtually every category. ” —Carol Morgan & Doran Levy, Marketing to the Mindset of Boomers and Their Elders

The Vision Thing

The Vision Thing

“Create a ‘cause, ’ not a ‘business. ’ ” G. H. :

“Create a ‘cause, ’ not a ‘business. ’ ” G. H. :

“Management has a lot to do with answers. Leadership is a function of questions.

“Management has a lot to do with answers. Leadership is a function of questions. And the first question for a leader always is: ‘Who do we intend to be? ’ Not ‘What are we going to do? ’ but ‘Who do we intend to be? ’” —Max De Pree, Herman Miller

Leaders Are “Dealers in Hope. ”

Leaders Are “Dealers in Hope. ”

“A leader is a dealer in hope. ” Napoleon (+TP’s writing room pics)

“A leader is a dealer in hope. ” Napoleon (+TP’s writing room pics)

Hackneyed but none the less LEADERS SEE CUPS AS “HALF FULL. ” true:

Hackneyed but none the less LEADERS SEE CUPS AS “HALF FULL. ” true:

“[Ronald Reagan] radiated an almost transcendent happiness. ” Half-full Cups: Lou Cannon, George (08.

“[Ronald Reagan] radiated an almost transcendent happiness. ” Half-full Cups: Lou Cannon, George (08. 2000)

“I’m not sure about his politics, but that’s not what made him great. He

“I’m not sure about his politics, but that’s not what made him great. He inspired people. He made us all feel better about ourselves. ” —bystander, California, during RR funeral

You Must Care!

You Must Care!

“It was much later that I realized Dad’s secret. He gained respect by giving

“It was much later that I realized Dad’s secret. He gained respect by giving it. He talked and listened to the fourth-grade kids in Spring Valley who shined shoes the same way he talked and listened to a bishop or a college president. He was seriously interested in who you were and what you had to say. ” Sara Lawrence-Lightfoot, Respect

“Ph. D. in leadership. Short course: Make a short list of all things done

“Ph. D. in leadership. Short course: Make a short list of all things done to you that you abhorred. Don’t do them to others. Ever. Make another list of things done to you that you loved. Do them to others. Always. ” — Dee Hock

Parting Words.

Parting Words.

Successful Businesses’ Dozen Truths: TP’s 30 -Year Perspective 1. Insanely Great & Quirky Talent.

Successful Businesses’ Dozen Truths: TP’s 30 -Year Perspective 1. Insanely Great & Quirky Talent. 2. Disrespect for Tradition. 3. Totally Passionate (to the Point of Irrationality) Belief in What We Are Here to Do. 4. Utter Disbelief at the BS that Marks “Normal Industry Behavior. ” 5. A Maniacal Bias for Execution … and Utter Contempt for Those Who Don’t “Get It. ” 6. Speed Demons. 7. Up or Out. (Meritocracy Is Thy Name. Sycophancy Is Thy Scourge. ) 8. Passionate Hatred of Bureaucracy. 9. Willingness to Lead the Customer … and Take the Heat Associated Therewith. (Mantra: Satan Invented Focus Groups to Derail True Believers. ) 10. “Reward Excellent Failures. Punish Mediocre Successes. ” 11. Courage to Stand Alone on One’s Record of Accomplishment Against All the Forces of Conventional Wisdom. 12. A Crystal Clear Understanding of the power of a Good Story (Brand Power).

Kevin Roberts’ Credo 1. Ready. Fire! Aim. 2. If it ain’t broke. . .

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!

Sir Richard’s Rules: Follow your passions. Keep it simple. Get the best people to

Sir Richard’s Rules: Follow your passions. Keep it simple. Get the best people to help you. Re-create yourself. Play. Source: Fortune/10. 03

“You can’t behave in a calm, rational manner. You’ve got to be out there

“You can’t behave in a calm, rational manner. You’ve got to be out there on the lunatic fringe. ” — Jack Welch