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$10,000,000/Day

NOTE : To appreciate this presentation [and ensure that it is not a mess ], you need Microsoft fonts: “ Showcard Gothic, ” “ Ravie, ” “ Chiller ” and “ Verdana ”. $10,000,000/Day. Mission impossible? $36B/’98 minus $675M/‘07.

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$10,000,000/Day

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  1. NOTE:To appreciate this presentation [and ensure that it is not a mess], you need Microsoft fonts:“Showcard Gothic,”“Ravie,”“Chiller”and“Verdana”

  2. $10,000,000/Day

  3. Mission impossible?$36B/’98minus $675M/‘07

  4. “Despite a decade of banking mergers, there is no evidence that big banks are any more efficient or profitable than their smaller rivals.”—Financial Times, 0329, on possible Barclays-ABN Amro merger (“When it comes to asking the stock market whether bigger banks are better, the current answer is a resounding ‘no.” —Citigroup analysis, 2006)

  5. Tom Peters’ X25*EXCELLENCE. ALWAYS.World Knowledge ForumSeoul/17 October 2007*In Search of Excellence 1982-2007

  6. Slides at …tompeters.com

  7. THE LOOOOONG ODDS AGAINST “LASTING EXCELLENCE.”

  8. The last word: There is no “last word.”

  9. Flat as a Pancake (Or Worse)Wal*Mart … Dell … Intel … Yahoo … Home Depot … Microsoft … GE … Citigroup … Time Warner

  10. Headline, Wall Street Journal, 3 October 2007:“Wal*Mart Era Wanes Amid Big Shifts In Retail: Rivals Find Strategies To Defeat Low Prices; World Has Changed”

  11. “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

  12. Dick Kovacevich:You don’t get better by being bigger. You get worse.”

  13. “Forbes100” from 1917 to 1987:39members 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.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

  14. “Mr. Foster and his McKinsey colleagues collected detailed performance data stretching back 40 years for 1,000 U.S. companies. They found that none of the long-term survivors managed to outperform the market. Worse, the longer companies had been in the database, the worse they did.”—Financial Times

  15. “Data drawn from the real world attest to a fact that is beyond our control:Everything in existence tends to deteriorate.”—Norberto Odebrecht, Education Through Work

  16. Welcome to the “Club of Shattered Dreams”: Of Korea’s Top 100 companies in 1955, only 7 were still on the list in 2004.Source: “KET Issue Report,” Kim Jong Nyun (14.05.2005)

  17. THE SECRETS OF EXCELLENCE I: DECENTRALIZATION.

  18. “‘Decentralization’ is not a piece of paper. It’s not me. It’s either in your heart, or not.”—Brian Joffe/BIDvest

  19. Enemy #1I.C.D.Note 1:Inherent/Inevitable/Immutable Centralist DriftNote 2: Jim Burke’s 1-word vocabulary: “No.”

  20. THE SECRETS OF EXCELLENCE II: CHURN.

  21. Q4/2006+500,000Source: Barron’s 0922.07

  22. Q4/2006+500,000 = ? Source: Barron’s 0922.07

  23. Q4/2006+500,000 =+7,700,000-7,200,000Source: Barron’s 0922.07

  24. “The secret of fast progress is inefficiency, fast and furious and numerous failures.”—Kevin Kelly

  25. The Mess IsThe Message! Period!

  26. Palo Alto/30California/35

  27. *Entrepreneurial magnet*Talent in general*Critical mass*VCs (all levels)*Immigrants-Diversity*Research Universities*Climate-Way of life*Attitude! (Everything is possible!)*IBM? Who cares?*Etc

  28. THE SECRETS OF EXCELLENCE III: THE MID-SIZED ENTERPRISE.

  29. #1 Exporter?

  30. #4 Japan

  31. #4 Japan#3 (#2/2006) USA#2 (#3) China

  32. #4 Japan#3 USA#2 China#1 Germany

  33. Reason?Daimler?BASF?Siemens?Commerzbank?

  34. Reason!!!Mittelstand

  35. GEOBRA/PlaymobilTrumpfRationalGoldmann Produktions

  36. Skunk Camp #1: American “Mittlestand” (F500 A.W.O.L.) Frank Perdue/ Perdue Farms(“It takes a tough man to make a tender chicken.”) Tom Malone/ Milliken and Company Don Burr/ People Express Tom Monaghan/ Dominos Pizza Stew Leonard/ Stew Leonard’s Hal Rosenbluth/ Rosenbluth International John Fisher/ Bank One of Columbus John McConnell/ Worthington Industries Bill and Vieve Gore/ W.L. Gore Bob Buckman/ Buckman Labs(Bob almost single-handedly invented what we now call “knowledge management.”)

  37. Jim’s Group

  38. Jim’s Mowing Canada Jim’s Mowing UK Jim’s Antennas Jim’s Bookkeeping Jim’s Building Maintenance Jim’s Carpet Cleaning Jim’s Car Cleaning Jim’s Computer Services Jim’s Dog Wash Jim’s Driving School Jim’s Fencing Jim’s Floors Jim’s Painting Jim’s Paving Jim’s Pergolas [gazebos] Jim’s Pool Care Jim’s Pressure Cleaning Jim’s Roofing Jim’s Security Doors Jim’s Trees Jim’s Window Cleaning Jim’s Windscreens Note: Download, free, Jim Penman’s book: What Will They Franchise Next? The Story of Jim’s Group

  39. *Lived in same town all adult life*First generation wealthy/no parental support*“Don’t look like millionaires, don’t dress like millionaires, don’t eat like millionaires, don’t act like millionaires”*“Many of the types of businesses [they] are in could be classified as ‘dull- normal.’ [They] are welding contractors, auctioneers, scrap-metal dealers, portable toilets, dry cleaners, re-builders of diesel engines, paving contractors …”Source: The Millionaire Next Door, Thomas Stanley & William Danko

  40. Ichiro- nomics

  41. Ichironomics “Spokane, like Minneapolis-St Paul, refuses to bet the economy on one or two industries. Rather, it practices what one city booster calls ‘Ichironomics. Like the Seattle Mariners’ center fielder, Ichiro Suzuki, we try to hit singles and doubles. We want to improve the overall conditions for small businesses, not chase the large employer.’”—Rich Karlgaard, Forbes (NB: In 2004 Suzuki broke the all-time record for hits in a single season, with a staggering 262.) (NB II: In 2007 the mayor of Lisbon reduced the amount of time to get a business license from weeks or months to, literally, minutes.)

  42. THE SECRETS OF EXCELLENCE IV: UNBRIDLED IMAGINATION.

  43. Single greatest act of pure imagination

  44. 24%

  45. dubai

  46. “THE FUTURE BELONGS TO … SMALL POPULATIONS … WHO BUILD EMPIRES OF THE MIND … AND WHO IGNORE THE TEMPTATION OF—OR DO NOT HAVE THE OPTION OF—EXPLOITING NATURAL RESOURCES.”Source: Juan Enriquez/Asthe Future Catches You

  47. THE SECRETS OF EXCELLENCE V: EDUCATION FOCUSED ON NURTUTING CREATIVITY.

  48. “Human creativity is the ultimate economic resource.”—Richard Florida,The Rise of the Creative Class

  49. “It is nothing short of a miracle that modern methods of instruction have not yet entirely strangled the holy curiosity of inquiry.”—Albert Einstein

  50. “The key question isn’t ‘What fosters creativity?’ But it is why in God’s name isn’t everyone creative? Where was the human potential lost? How was it crippled? I think therefore a good question might be notwhy do people create? But why do people notcreate or innovate? We have got to abandon that sense of amazement in the face of creativity, as if it were a miracle if anybody created anything.”—Abe Maslow

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