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Now emerging technology conference tom peters 09 05 2001
Now!Emerging Technology ConferenceTom Peters/09.05.2001



“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


“Acquisitions are about buying market share. to expectations, Leon Cooperman, former cochairman of Goldman Sachs’ Investment Policy Committee, answered:Our challenge is to create markets. There is a big difference.” Peter Job, CEO, Reuters


Hp 18 6 compaq 10 3 dell 4 4
HP: to expectations, Leon Cooperman, former cochairman of Goldman Sachs’ Investment Policy Committee, answered:-18.6%Compaq: -10.3%Dell: +4.4%


Message 2001 only idiots pull in their investment horns during a downturn
Message 2001 to expectations, Leon Cooperman, former cochairman of Goldman Sachs’ Investment Policy Committee, answered::Only idiots pull in their[investment]horns during a downturn.


My goal radicalize audiences hint these are radical times
My GOAL to expectations, Leon Cooperman, former cochairman of Goldman Sachs’ Investment Policy Committee, answered:: Radicalize Audiences!**Hint: These are Radical times!


Forbes100 from 1917 to 1987 to expectations, Leon Cooperman, former cochairman of Goldman Sachs’ Investment Policy Committee, answered:: 39 members of the Class of ’17 were alive in ’87; 18 are in ’87 F100; the 18 F100 “survivors” underperformed the market by 20%; just 2 (2%), GE & Kodak, outperformed the market from 1917 to 1987.S&P 500 from 1957 to 1997: 74 members of the Class of ’57 were alive in ’97; 12 (2.4%) of 500 outperformed the market from 1957 to 1997.Source: Dick Foster & Sarah Kaplan, Creative Destruction: Why Companies that Are Built to Last Underperform the Market


to expectations, Leon Cooperman, former cochairman of Goldman Sachs’ Investment Policy Committee, answered:Good management was the most powerful reason [leading firms] failed to stay atop their industries. Precisely because these firms listened to their customers, invested aggressively in technologies that would provide their customers more and better products of the sort they wanted, and because they carefully studied market trends and systematically allocated investment capital to innovations that promised the best returns, they lost their positions of leadership.”Clayton Christensen, The Innovator’s Dilemma


Part i brand inside part ii brand outside part iii brand leadership
Part I: Brand Inside to expectations, Leon Cooperman, former cochairman of Goldman Sachs’ Investment Policy Committee, answered:Part II: Brand OutsidePart III: Brand Leadership


Forces @ work i the destruction imperative
Forces @ Work I to expectations, Leon Cooperman, former cochairman of Goldman Sachs’ Investment Policy Committee, answered:The Destruction Imperative!


“The corporation as we know it, which is now 120 years old, isnot likely to survive the next 25 years.Legally and financially, yes, but not structurally and economically.”Peter Drucker, Business 2.0 (08.00)


Built to Last v. Built to Flip old, is“The problem with Built to Last is that it’s a romantic notion. Large companies are incapable of ongoing innovation, of ongoing flexibility.”“Increasingly, successful businesses will be ephemeral. They will be built to yield something of value – and once that value has been exhausted, they will vanish.”Fast Company (03/2000)


The new g e way dyb com
The [New] G old, ise WayDYB.com


Brand inside brand work the professional service firm model
Brand old, isInsideBrand Work: The Professional Service Firm Model



So what will be the basic building block of the new org
So what old, iswill be the Basic Building Block of theNew Org?


Answer psf professional service firm department head to managing partner hr is etc inc
Answer: old, isPSF![Professional Service Firm]Department Headto …Managing Partner, HR [IS, etc.] Inc.


Brand inside the heart of the value creation revolution psf unbound
Brand old, isInsideThe Heart of the Value Creation Revolution: PSF Unbound!



09 11 2000 hp bids 18 000 000 000 for pricewaterhousecoopers consulting business
09.11.2000: HP bids old, is$18,000,000,000for PricewaterhouseCoopersConsulting business!


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


Hp sun ge ibm ups utc general mills springs anheuser busch carpet one delphi etc etc
HP That’s the price of entry.” … Sun … GE … IBM … UPS … UTC … General Mills … Springs … Anheuser-Busch … Carpet One … Delphi … Etc. … Etc.


We want to be the air traffic controllers of electrons bob nardelli ge power systems home depot
“We want to be the air traffic controllers of electrons.”Bob Nardelli, GE Power Systems (Home Depot)


“The primary strategic mission for [CEO Jeffrey] Immelt is to hasten GE’s transformation from a low-margin manufacturer to a more lucrative services company that sells solutions as much as stuff.”Newsweek/09.10.2001 (Welch raised share of services revenue from 15% o 70%)


“In GE’s world there are fewer but bigger customers, so there’s a vital need to maximize the relationship.”Newsweek/09.10.2001


“UPS wants to take over the sweet spot in the endless loop of goods, information and capital that all the packages [it moves] represent.”ecompany.com/06.01 (E.g., UPS Logistics manages the logistics of 4.5M Ford vehicles, from 21 mfg. Sites to 6,000 NA dealers)


Brand inside brand action getting started a personal perspective
Brand of goods, information and capital that all the packagesInsideBrand Action:Getting Started … a Personal Perspective


Topic boss free implementation of stm stuff that matters
Topic: of goods, information and capital that all the packagesBoss-free Implementation of STM/Stuff That MATTERS!


The idea model f4 f ind a f ellow f reak f araway
THE IDEA: of goods, information and capital that all the packagesModel F4Find a FellowFreak Faraway


Heart of the matter f2f k2k 1@t r f a freak to freak kook to kook one at a time ready fire aim
Heart of the Matter of goods, information and capital that all the [email protected]/R.F!A.**Freak to Freak/Kook to Kook/One at a Time/ Ready.Fire!Aim.


And k2kk s2ss kook to kooky kustomer skunk to scintillating supplier
And … of goods, information and capital that all the packagesK2KK*S2SS***Kook to Kooky Kustomer**Skunk to Scintillating Supplier


Sales2001
Sales2001 of goods, information and capital that all the packages


The Sales25: Great Salespeople … of goods, information and capital that all the packages1. Know the product. (Find cool mentors, and use them.)2. Know the company.3. Know the customer. (Including the customer’s consultants.) (And especially the “corporate culture.”)4. Love internal politics at home and abroad.5. Religiously respect competitors. (No badmouthing, no matter how provoked.)6. Wire the customer’s org.(Relationships at all levels & functions.)7. Wire the home team’s org. and vendors’ orgs.(INVEST Big Time time in relationships at all levels & functions.) (Take junior people in all functions to client meetings.)


Politics rules
Politics of goods, information and capital that all the packages Rules!


Great Salespeople … of goods, information and capital that all the packages8. Never overpromise.(Even if it costs you your job.)9. Sell only by solving problems-creating profitable opportunities.(“Our product solves these problems, creates these unimagined INCREDIBLE opportunities, and will make you a ton of money—here’s exactly how.”) (IS THIS A “PRODUCT SALE” OR A WOW-ORIGINAL SOLUTION YOU’LL BE DINING OFF 5 YEARS FROM NOW? THAT WILL BE WRITTEN UP IN THE TRADE PRESS?)10. Will involve anybody—including mortal enemies—if it enhances the scope of the problem we can solve and increases the scope of the opportunity we can encompass.11. Know the Brand Story cold; live the Brand Story. (If not, leave.)


Great Salespeople … of goods, information and capital that all the packages12. Think “Turnkey.” (It’s always your problem!)13. Act as “orchestra conductor”: You are responsible for making the whole-damn-network respond. (PERIOD.)14. Help the customer get to know the vendor’s organization & build up their Rolodex.15. Walk away from bad business.(Even if it gets you fired.)16. Understand the idea of a “good loss.”(A bold effort that’s sometimes better than a lousy win.)17. Think those who regularly say “It’s all a price issue” suffer from rampant immaturity & shrunken imagination.18. Will not give away the store to get a foot in the door. 19. Are wary & respectful of upstarts—the real enemy.20. Seek several “cool customers”—who’ll drag you into Tomorrowland.


Great Salespeople … of goods, information and capital that all the packages21. Use the word “partnership” obsessively, even though it is way overused.(“Partnership” includes folks at all levels throughout the supply chain.)22. Send thank you notes by the truckload.(NOT E-NOTES.) (Most are for “little things.”) (50% of those notes are sent to those in our company!) Remember birthdays. Use the word “we.” 23. When you look across the table at the customer, think religiously to yourself: “HOW CAN I MAKE THIS DUDE RICH & FAMOUS & GET HIM-HER PROMOTED?” 24. Great salespeople in great technology companies can affirmatively respond to the query in an HP banner ad: HAVE YOU CHANGED CIVILIZATION TODAY?25. Keep your bloody PowerPoint slides simple!


Bottom line the enemy
BOTTOM LINE of goods, information and capital that all the packagesThe Enemy!


The greatest danger of goods, information and capital that all the packagesfor most of usis not that our aim istoo highand we miss it,but that it istoo lowand we reach it.Michelangelo


Reward excellent failures punish mediocre successes phil daniels sydney exec
of goods, information and capital that all the packagesReward excellent failures. Punish mediocre successes.”Phil Daniels, Sydney exec


Brand inside brand talent the great war for talent
Brand of goods, information and capital that all the packagesInsideBrand Talent: The Great War for Talent


“We believe companies can increase their market cap 50 percent in 3 years. Steve Macadam at Georgia-Pacificchanged 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)


Message percent in 3 years. Steve Macadam at Georgia-Pacific: Some people are better than other people.Some people are a helluva lot better than other people.


percent in 3 years. Steve Macadam at Georgia-PacificAS 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


Boys are trained in a way that will make them irrelevant phil slater
“Boys are trained in a way that will make percent in 3 years. Steve Macadam at Georgia-Pacificthem irrelevant.”Phil Slater


The Cracked Ones Let in the Light percent in 3 years. Steve Macadam at Georgia-Pacific“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


Brand inside reprise tomorrow s orgs itinerant potential machines
Brand percent in 3 years. Steve Macadam at Georgia-PacificInsideReprise: TOMORROW’S ORGS: Itinerant Potential Machines


TALENT POOL TO DIE FOR. percent in 3 years. Steve Macadam at Georgia-Pacific Youthful. Insanely energetic. Value creativity. Risk taking is routine. Failing is normal … if you’re stretching. Want to “make their bones” in “the revolution.” Love the new technologies. Well rewarded. Don’t plan to be around 10 years from now.


TALENT POOL PLUS. percent in 3 years. Steve Macadam at Georgia-Pacific Seek out and work with “world’s best” as needed (it’s often needed). “We aim to change the world, and we need gifted colleagues—who well may not be on our payroll.”


BRASSY-BUT-GROUNDED-LEADERSHIP. percent in 3 years. Steve Macadam at Georgia-PacificSay “I don’t know”—and then unleash the TALENT. Have a vision to be DRAMATICALLY DIFFERENT—but don’t expect the co. to be around forever. Will scrap pet projects, and change course 180 degrees—and take a big write-off in the process. NO REGRETS FROM SCREW-UPS WHOSE TIME HAS NOT-YET-COME. GREAT REGRETS AT TIME & $$$ WASTED ON “ME TOO” PRODUCTS AND PROJECTS.


BRASSY-BUT-GROUNDED-LEADERSHIP. (Cont.) percent in 3 years. Steve Macadam at Georgia-Pacific“Visionary” leaders matched by leaders with shrewd business sense: “HOW DO WE TURN A PROFIT ON THIS ‘COOL’ IDEA?” Appreciate “market creation” as much as or more than “market share growth.” ARE INSANELY AWARE THAT MARKET LEADERS ARE ALWAYS IN PRECARIOUS POSITIONS, AND THAT MARKET SHARE WILL NOT PROTECT US, IN TODAY’S VOLATILE WORLD, FROM THE NEXT KILLER IDEA AND KILLER ENTREPRENEUR. (Gates. Ellison. Venter. McNealy. Walton. Skilling. Case. Etc.)


ALLIANCE MANIACS. percent in 3 years. Steve Macadam at Georgia-PacificDon’t assume that “the best resides within.” WORK WITH A SHIFTING ARRAY OF STATE-OF-THE-ART PARTNERS FROM ONE END OF THE “SUPPLY CHAIN” TO THE OTHER. Including vendors and consultants and … especially … PIONEERING CUSTOMERS—who will “pull us into the future.”


TECHNOLOGY-NETWORK FANATICS. percent in 3 years. Steve Macadam at Georgia-PacificRun the whole-damn-company, and relations with all outsiders, on the Internet … at Internet speed. Reluctant to work with those who don’t share this (radical) vision.


POTENTIAL MACHINES-ORGANISMS. percent in 3 years. Steve Macadam at Georgia-Pacific Don’t know what’s coming next. But are ready to jump at opportunities, especially those that challenge-overturn our own “way of doing things.”


Part i brand inside part ii brand outside part iii brand leadership1
Part I: Brand percent in 3 years. Steve Macadam at Georgia-PacificInsidePart II: Brand OutsidePart III: Brand Leadership


Forces @ work ii the sameness trap
Forces @ Work II percent in 3 years. Steve Macadam at Georgia-PacificThe Sameness Trap


“The ‘surplus society’ has a surplus of percent in 3 years. Steve Macadam at Georgia-Pacificsimilar companies, employing similarpeople, with similar educational backgrounds, working in similar jobs, coming up with similarideas, producing similar things, with similarprices and similarquality.”Kjell Nordstrom and Jonas Ridderstrale,Funky Business


“Companies have defined so much ‘best practice’ that they are now more or less identical.”Jesper Kunde, A Unique Moment


“Customers will try ‘low cost providers’ they are now more or less identical.”because the Majors have not given them any clear reason not to.”Leading Insurance Industry Analyst (10-99)


Brand outside new technology strategy 1 use e commerce to re invent everything
Brand they are now more or less identical.”OutsideNew Technology/Strategy 1:Use E-Commerce toRe-inventEverything!


Dell’s OptiPlex Facility they are now more or less identical.”Big Job: 6 to 8 hours.(20,000 per day)Parts Inventory: 2 hours, 100 square feet.(Overall, 5 days vs. 50 to 90 days; target is 2.5 days)


Enron eWorld they are now more or less identical.”: “Price a structured trade,” per John Arnold, 26: Early 1999: 30 times a day. Late 2000: 30 times per … minute.Long-term gas contract. 1989: 9 months, 400+ deals. Late 90s: 2 weeks, 2 per week. Late 2000: 5 such deals per daySource: www.ecompany.com (1/2001)


Cisco 90 of 20b 50m day annual savings in service and support from customer self management 550m
Cisco! they are now more or less identical.”90% of $20B (=$50M/day)Annual savings in service and support from customer self-management: $550M


Secret Cisco: they are now more or less identical.”Community!C.Sat e >> C.Sat HCustomer Engineer Chat Rooms/CollaborativeDesign ($1B “free” consulting) (45,000 customer problems a week solved via customer collaboration)


Welcome to they are now more or less identical.”D.I.Y. Nation:“Changes in business processes will emphasize self service. Your costs as a business go down and perceivedservice goes up because customers are conducting it themselves.”Ray Lane, Oracle


“Ebusiness is about rebuilding the organization from the ground up. Most companies today are not built to exploit the Internet. Their business processes, their approvals, their hierarchies, the number of people they employ … all of that is wrong for running an ebusiness.”Ray Lane, Kleiner Perkins


“Customer Service” is ground up.DEAD.“One-to-One” is DEAD.Welcome to: ????[??? = We live together in seamless-responsive harmony with all Members of the Value Chain. We Create together. We Fulfill together. We Learn together. We Adjust together. All old categories – which imply separation and linearity and hierarchy and do-it-to-themism – must die.]


Brand outside new demographics strategy 2a women rule
Brand ground up.OutsideNew Demographics/Strategy 2A:Women Rule!


4 8t japan 9m 27 5m 3 6t germany
$4.8T ground up.> Japan9M/27.5M/$3.6T > Germany


Read this book eveolution the eight truths of marketing to women faith popcorn lys marigold
Read This Book … ground up.EVEolution: The Eight Truths of Marketing to WomenFaith Popcorn & Lys Marigold


Eveolution truth no 1 connecting your female consumers to each other connects them to your brand
EVEolution ground up.: Truth No. 1Connecting Your Female Consumers to Each Other Connects Them to Your Brand


“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


What If … When asked, ‘How was school today?’ a girl usually tells her mother every detail of what happened, while a boy might grunt, ‘Fine.’ ”“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


Women don t buy brands they join them faith popcorn eveolution
“Women don’t buy brands. When asked, ‘How was school today?’ a girl usually tells her mother every detail of what happened, while a boy might grunt, ‘Fine.’ ”They join them.”Faith Popcorn, EVEolution



Brand outside new demographics strategy 2b welcome to old world
Brand to be looking at a car like this?”OutsideNew Demographics/Strategy 2B:Welcome to “OldWorld”!


“ ‘Age Power’ will rule the 21 to be looking at a car like this?”st century, and we are woefully unprepared.”Ken Dychtwald, Age Power: How the 21st Century Will Be Ruled by the New Old


Aging elderly i m in charge
Aging/“Elderly” to be looking at a car like this?”$$$$$$$$$$$$“I’m in charge!”


“NOT ACTING THEIR AGE to be looking at a car like this?”: As Baby Boomers Zoom into Retirement, Will America Ever Be the Same?”USN&WR Cover/06.01


50+ to be looking at a car like this?”$7T wealth (70%)/$2T annual income50% all discretionary spending79% own homes/40M credit card users41% new cars/48% luxury$610B healthcare spending/74% prescription drugs5% of advertising targetsKen Dychtwald, Age Power: How the 21stCentury Will Be Ruled by the New Old


Brand outside strategy 3 brand power
Brand to be looking at a car like this?”OutsideStrategy 3:BRANDPOWER!


“Most companies tend to equate branding with the company’s marketing. Design a new marketing campaign and, voila, you’re on course. They are wrong. The task is much bigger. It is about fulfilling our potential … not about a new logo, no matter how clever. WHAT IS MY MISSION IN LIFE?WHAT DO I WANT TO CONVEY TO PEOPLE?HOW DO I MAKE SURE THAT WHAT I HAVE TO OFFER THE WORLD IS ACTUALLY UNIQUE? The brand has to give of itself, the company has to give of itself, the management has to give of itself. To put it bluntly, it is a matter of whether – or not – you want to be … UNIQUE … NOW.”Jesper Kunde, A Unique Moment


1 company’s marketing. Design a new marketing campaign and, voila, you’re on course. They are wrong. The task is much bigger. It is about fulfilling our potential … not about a new logo, no matter how clever. st Law Mktg Physics: OVERTBENEFIT(Focus: 1 or 2 > 3 or 4/“One Great Thing.” Source #1: Personal Passion)2ND Law: REALREASONTOBELIEVE(Stand & Deliver!)3RD Law: DRAMATICDIFFERENCE(Execs Don’t Get It: See the next slide.)Source: Jump Start Your Business Brain, Doug Hall


2 Questions company’s marketing. Design a new marketing campaign and, voila, you’re on course. They are wrong. The task is much bigger. It is about fulfilling our potential … not about a new logo, no matter how clever. “How likely are you to purchase this new product or service?” (95% to 100% weighting by execs)“How unique is this new product or service?” (0% to 5%*)*No exceptions in 20 years – Doug Hall, Jump Start Your Business Brain


Who are you these days tp to client
“WHO company’s marketing. Design a new marketing campaign and, voila, you’re on course. They are wrong. The task is much bigger. It is about fulfilling our potential … not about a new logo, no matter how clever. ARE YOU[these days] ?”TP to Client


Part i brand inside part ii brand outside part iii brand leadership2
Part I: Brand company’s marketing. Design a new marketing campaign and, voila, you’re on course. They are wrong. The task is much bigger. It is about fulfilling our potential … not about a new logo, no matter how clever. InsidePart II: Brand OutsidePart III: Brand Leadership


Brand leadership passion rules
Brand company’s marketing. Design a new marketing campaign and, voila, you’re on course. They are wrong. The task is much bigger. It is about fulfilling our potential … not about a new logo, no matter how clever. LeadershipPassion Rules!


Let s make a dent in the universe steve jobs
company’s marketing. Design a new marketing campaign and, voila, you’re on course. They are wrong. The task is much bigger. It is about fulfilling our potential … not about a new logo, no matter how clever. Let’s make a dent in the universe.”Steve Jobs


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