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Red Goldfish - Motivating Sales and Loyalty Through Shared Passion and Purpose

Red Goldfish is the fifth color in the Goldfish Series of books. It focuses on how purpose is driving loyalty and becoming the ultimate differentiator in business. <br><br>Stan Phelps is the founder of PurpleGoldfish.com, a speaking and training consultancy that helps brands obtain customers that are up to four times as valuable as ordinary customers. He’s a contributor to Forbes and the author of Purple Goldfish, Green Goldfish, Golden Goldfish, Blue Goldfish, and Purple Goldfish - Service Edition. He works with senior leaders to focus on meaningful differentiation to win the hearts of both employees and customers. Driven by client objectives and inspired by bold vision, Stan creates custom keynotes, workshops, and programs that are memorable and on brand, inspiring businesses to become REMARK-able by design. <br><br>Contact Stan at stan@purplegoldfish.com or call 919.360.4702.

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Red Goldfish - Motivating Sales and Loyalty Through Shared Passion and Purpose

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  1. RED GOLDFISH Motivating Sales and Loyalty Through Shared Passion and Purpose By: Stan Phelps and Graeme Newell PurpleGoldfish.com

  2. Red Goldfish is the fifth color in the Goldfish Series of Books

  3. Purple Goldfish was about little things that improve customer experience and drive word of mouth Green Goldfish was about little things that improve employee engagement and reinforce culture 2013 2012 Golden Goldfish was about your vital few… little things for your top 20% of customers and employees Blue Goldfish was about technology, data, and analytics… little things to drive profits and prophets 2016 2014

  4. RED GOLDFISH is about motivating sales and loyalty through shared passion and …

  5. Why? Because business is evolving

  6. The initial focus of a company was on WHAT: Version 1.0 Shareholders BUSINESS is solely about maximizing shareholder value & profits

  7. 1.0 Shareholders First “There is only one purpose of business and that is to only engage in activities designed to increase profits.” – Milton Friedman

  8. On the face of it, shareholder value is the dumbest idea in the world… Shareholder value is a result, not a strategy... Your main constituencies are your employees, your customers and your products " - Jack Welch, Former CEO of GE "

  9. The next version saw profit as a result, a result of focusing on WHO: Version 2.0 Customers BUSINESS is about getting and keeping customers

  10. 2.0 Customers First “Not so long ago companies assumed the purpose of a business is to make money. But that has proved as vacuous as saying the purpose of life is to eat...The purpose of a business is to create and keep a customer.” – Ted Levitt

  11. “ There is only one boss. The customer. And he can fire everybody in the company from the chairman on down, simply by spending his money somewhere else.” - Sam Walton, Founder of Walmart

  12. The next version focused on HOW : Version 3.0 Employees BUSINESS starts with understanding how value is created. The value is created by employees.

  13. 3.0 Employees First “You can’t have happy enthused customers without happy engaged employees.” – Ted Coine

  14. “I came to see in my time at IBM that ‘culture’ isn’t just one aspect of the game – it is the game.” - Lou Gerstner, Former CEO of IBM

  15. “ Employees First, Customers Second is a management approach. It is a philosophy, a set of ideas, a way of looking at strategy and competitive advantage.” - Vineet Nayar, Former CEO of HCL Technologies

  16. The last and most enlightened version focuses on WHY : Version 4.0 Purpose BUSINESS should start with understanding why it exists

  17. 4.0 Purpose First “People don’t buy what you do, they buy WHY you do it.” – Simon Sinek

  18. “ Exceptional firms have always been good at aligning their purpose with their execution, and as a result have enjoyed category leadership in sales and profits.” - John Kotter and James Heskett

  19. Purpose is important to employees According to PriceWaterhouseCoopers:

  20. 6 out of 7 employees would consider leaving an employer whose values no longer met their expectations 86%

  21. Purpose is important to customers According to Brand Fuel:

  22. 86% All things being equal, 6 out of 7 customers will choose to do business with companies whose values mesh with their own

  23. Purpose will continue to become more and more important in business

  24. In 2020, 51% of the workforce will be millennials

  25. A millennial has a different perspective about business They are shedding the old binary view of business.

  26. They no longer see businesses as either…

  27. or F F R R

  28. The line between for profit and non profit is blurring

  29. Business is evolving Smart companies will focus on both profit and purpose. Going forward, companies will only be seen as…

  30. FOR FOR PURPOSE PURPOSE

  31. or NOT FOR NOT FOR PURPOSE PURPOSE

  32. “Consumers want a better world, not just better widgets.“ – Simon Mainwaring

  33. The New Bullseye

  34. Being Good is Good Business Raj Sisodia looked at 28 companies in his book Firms of Endearment. The 18 publicly traded companies out of the 28 outperformed the S&P 500 index by a factor of 10.5 over the years 1996-2011. Source: https://hbr.org/2013/04/companies-that-practice-conscious-capitalism-perform

  35. Being Good is Good Business Purposeful, value-driven companies outperform their counterparts by a factor of 12. Source: Book - Corporate Culture & Performance, by John Kotter and James Heskett

  36. RED GOLDFISH are the little things your do to bring your purpose to life

  37. Why the color RED and Why a GOLDFISH?

  38. FIRST, WHY A GOLDFISH?

  39. The Goldfish represents something small. It was inspired Kimpton, a chain of boutique hotels, Kimpton embodies the concept of doing the little something extra. Stay at any of the Kimpton properties and you’ll find: •  free gourmet coffee and fresh fruit in the lobby •  complimentary wine tasting in the afternoon •  pet-friendly accommodations My favorite perk is something a select number of the properties do for guests. Perhaps you are staying at a Kimpton for a few days, and you are getting lonely…

  40. GIVE A LITTLE UNEXPECTED EXTRA Guppy Love Kimpton will give you a pet goldfish for your stay. They call it “Guppy Love.”

  41. A goldfish also represents something small. But all goldfish are not created equal. Average Goldfish = 3 inches The world’s largest is…

  42. Nearly 20 inches or 50 centimeters That’s nearly six times larger! How can there be such a difference. It turns out the growth of a goldfish is determined by five factors. The growth of your business is also affected by the same five things.

  43. Five Factors #1. SIZE OF THE BOWL = MARKET #2. NUMBER OF OTHER GOLDFISH = COMPETITION #3. NUTRIENTS/CLOUDINESS OF THE WATER = ECONOMY #4. FIRST 120 DAYS OF LIFE = START-UP #5. GENETIC MAKEUP = DIFFERENTIATION Assuming you’ve already been in business for four months, what’s the only thing you have control over?

  44. Five Factors #1. MARKET #2. COMPETITION #3. ECONOMY #4. FIRST 120 DAYS #5. DIFFERENTIATION The only thing you can have control over is how you differentiate. How you purposely stand out in a sea of sameness?

  45. WHY THE COLORS?The first three colors were an ode to New Orleans and its most famous event…

  46. Purple, Green, and Gold are the three official Mardi Gras colors

  47. LAGNIAPPE because of one word… It was an ode to New Orleans The “additional gift”or “to give more” Mark Twain came to appreciate this one word and its meaning during his time in New Orleans. He wrote that it was “a word worth traveling to New Orleans to get.”

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