Tom Peters Seminar2000Distinct or … ExtinctMemphis08 November 2000
More at …tompeters.comSlides from this seminar.Master Presentation, for in-depth.“Cool Friends” (referenced in seminar).Discussions re this stuff.Calendar of events.Etc.
Pentium III 800MHz: $42,893.00/#Hermes Scarf: $1,964.29Saving Private Ryan on DVD: $874.75Mercedes-Benz: $18.98Hot-rolled steel: $0.19Source: Fortune (3.20.00)
NOW THAT’S B-I-G!“The period 2000-2002 will bring the single greatest change in worldwide economic and business conditions since we came down from the trees.”David Schneider & Grady Means, MetaCapitalism
“The corporation as we know it, which is now 120 years old, is not likely to survive the next 25 years. Legally and financially, yes, but not structurally and economically.”Peter Drucker, Business 2.0 (08.00)
John Roth’s “Rules” [Nortel]1. Our strategies must be tied toleading-edge customers on the attack.2. Time cannot be sacrificedfor better quality, lower cost, or even better decisions.3. It doesn’t matter whether you develop or acquire leading technology.Our job is to provide the technology and products our customers need.4. Success is achieved byleading change, not waiting for it.5. We are paranoid about our leadership– willing to cannibalize our own products to maintain our edge.Source: Abridged from The Wall Street Journal (07.25.00)
“It used to be that the big ate the small. Now the fast eat the slow.”Geoff Yang, IVP/ (Institutional Venture Partners)
Progressive“We don’t sell insurance anymore.We sell speed.”– Peter LewisDigital cameras, wireless Net links, etc.:SOME CLAIMS PAID WITHIN 20 MINUTES!Source: Business Week (09.00)
StructurePart I: Brand InsidePart II: Brand OutsidePart III: Brand Leadership
Forget>“Learn”“The problem is never how to get new, innovative thoughts into your mind, but how to get the old ones out.”Dee Hock
“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. Our challenge is to create markets. There is a big difference.” Peter Job, CEO, Reuters
“Our ideal acquisition is a small startup that has a great technology product on the drawing board that is going to come out in six to twelve months. We buy the engineers and the next generation product. …” John Chambers, Cisco
Pentium III 800MHz: $42,893.00/#Cisco Engineer: $19,000.00Hermes Scarf: $1,964.29Saving Private Ryan on DVD: $874.75Mercedes-Benz: $18.98Hot-rolled steel: $0.19Source: Fortune (3.20.00)
Lessons from the Bees!Since merger mania is now the rage, what lessons can the bees teach us? A simple one: Merging is not in nature. [Nature’s] process is the exact opposite: one of growth, fragmentation and dispersal. There is no megalomania, no merging for merging’s sake. The point is that unlike corporations, which just get bigger, bee colonies know when the time has come to split up into smaller colonies which can grow value faster. What the bees are telling us is that the corporate world has got it all wrong.”David Lascelles, Co-director of The Centre for the Study of Financial Innovation [UK]
Paradox ReduxAtlanta: +113,600 = #1 metro areaLayoffs [major]: BellSouth, Lockheed, Coca-Cola
Headline: “Bank of America to Cut … 10,000 Jobs”“Middle-level and senior managersare expected to be the principal targets of the job cutbacks.”Source: The New York Times (07.29.2000)
The Pincer 5“Destructive” entrepreneurs/ Global Competition“White Collar Robots”THE INTERNET![E.g.: GM + Ford + DaimlerChrysler]Global Outsourcing[E.g.: India, Mexico]Speed!!
“A bureaucrat is an expensive microchip.”Dan Sullivan, consultant and executive coach
“AssetlessCompany”John Bryan, CEO, on selling all Sara Lee’s manufacturing
“We have transitioned from an asset-based strategy to a talent-based strategy.”Jeff Skilling, COO, Enron
“Don’t own nothin’ if you can help it. If you can, rent your shoes.”F.G.
Cisco, Dell =Brand-owning companies who sell Customer SatisfactionSource: David Schneider & Grady Means, MetaCapitalism
RR on “Assetless” [J.B.] Sara Lee“The most profitable businesses in the future will act as knowledge brokers, linking insights into what’s available with insights into the customer’s individual needs and preferences.”
Advance ParadigmData on 165,000,000 prescriptions per year; docs and insurers have access to recordsReduces med errors; saves $2.88 per scrip [prescribing errors]; docs save $14,000 per year in review timeRev in ’99: $2B; $477M in ’98Source: Business Week (09.00)
“For a dollar a month, an Ohio insurance company will rent you a GPS receiver to install in your car. As part of your policy, it signals how often, when, and which highways you drive and into which neighborhoods you go. The premium you pay reflects your actual driving risk.”Stan Davis & Christopher Meyer, futureWEALTH
Brand InsideBrand Work: The Professional Service Firm Model & The WOW Project
Answer: PSF![Professional Service Firm]Department Headto …Managing Partner, HR [IS, etc.] Inc.
“P.S.F.”: SummaryH.V.A. Projects (100%)Pioneer ClientsWOW Work (see below)Hot “Talent” (see below)“Adventurous” “culture”Point of View (Methodology)W.W.P.F. (100%)When: Now!
“Reward excellent failures. Punish mediocre successes.”Phil Daniels, Sydney exec
Measures • WOW! • Beauty! • Raving Fans! • Impact!