SEOUL 14 September 2006. “Everyone lives by selling something.”. “Everyone lives by selling...

SEOUSEOUL L

14 September 200614 September 2006

. “Everyone “Everyone lives by lives by selling selling

something.”something.”

– Robert Louis Stevenson

A Few Biases You Should Know About**I am I am notnot a macro-economist. a macro-economist.**I I amam exceptionally biased by 30 years (1970-2000) in exceptionally biased by 30 years (1970-2000) in Silicon ValleySilicon Valley..**I would rather work for eBay than BankAmerica.I would rather work for eBay than BankAmerica.**I believe that the Giant Merger Game is the single greatest I believe that the Giant Merger Game is the single greatest waste of energy in the world of business. waste of energy in the world of business.**Economies of scale are wildly over-rated.Economies of scale are wildly over-rated.**I find the entire notion of “career” to be disturbing and a little silly.I find the entire notion of “career” to be disturbing and a little silly.**I find the notion of “built to last” hilarious.I find the notion of “built to last” hilarious.**Between 1965 and 1980 I turned 179.9 degrees from “Mr BigBetween 1965 and 1980 I turned 179.9 degrees from “Mr Big Government” to “Mr ‘Cool’ Entrepreneur.” (Thank you, Government” to “Mr ‘Cool’ Entrepreneur.” (Thank you, Frank Perdue.) Frank Perdue.)**Joseph Schumpeter (“Joseph Schumpeter (“gales of creative destructiongales of creative destruction”) and F.A. Hayek ”) and F.A. Hayek

are my economist “gods”; JK Galbraith is my bete noir. are my economist “gods”; JK Galbraith is my bete noir.**“Innovation” is a wonderfully “Innovation” is a wonderfully messymessy & & chaoticchaotic process—not process—not amenable to “strategic plans.” amenable to “strategic plans.”*I believe in Luck. (*I believe in Luck. (Fooled by RandomnessFooled by Randomness—best book—best book I’ve ever read.) I’ve ever read.)

A Few Biases You Should Know About**I find most strategic plans (and strategic planners) to be amusing.I find most strategic plans (and strategic planners) to be amusing.**I am not … I am not … Mike Porter.Mike Porter.**I am not … I am not … Peter DruckerPeter Drucker..**I am not … I am not … Jim CollinsJim Collins..**I believe that the resilience of Giant Companies is I believe that the resilience of Giant Companies is wildly-absurdly over-rated. wildly-absurdly over-rated.**I believe that America’s productivity edge comes from car dealersI believe that America’s productivity edge comes from car dealers more than Giant Cos. more than Giant Cos.**No “business model” is “the last word.”No “business model” is “the last word.”**I am a Great Believer in “the basics”: I am a Great Believer in “the basics”: product, people, customers,product, people, customers, execution execution. (Hence there is nothing very interesting, save one . (Hence there is nothing very interesting, save one thing,thing, in in In Search of ExcellenceIn Search of Excellence.).)**I believe that EXCELLENCE is a legitimate aspiration for each of us;I believe that EXCELLENCE is a legitimate aspiration for each of us; and that any lesser aspiration is unconscionable. and that any lesser aspiration is unconscionable.

Tom Peters’Tom Peters’

EXCELLENCEXCELLENCE. ALWAYS.E. ALWAYS.

XAlways/KMACXAlways/KMACSEOUL/14 September 2006SEOUL/14 September 2006

Slides at …

tompeters.comtompeters.com

TheThe Irreducible209+/Irreducible209+/Sales122/60TIBsSales122/60TIBs

1. 1. Hare 1, Tortoise 0.Hare 1, Tortoise 0. (Hare-y times.) (Hare-y times.)2. 2. Tempo.Tempo. (O.O.D.A.) (O.O.D.A.)3. 3. MBWA.MBWA.4. 4. Appreciation.Appreciation. (“Motivator” #1.) (“Motivator” #1.) (Can’t be faked. Good.)(Can’t be faked. Good.)5. 5. Decency.Decency.6. Hurry.6. Hurry.7. Time out.7. Time out.8. One matters. 8. One matters. 9. 9. Big change. Short time.Big change. Short time. (Alt not work.) (Alt not work.)10. Excellence. Always.10. Excellence. Always.11. 11. Passion. Energy. Hustle. Enthusiasm.Passion. Energy. Hustle. Enthusiasm. Exuberance.Exuberance. (Move mountains. No alt.) (Move mountains. No alt.)12. You must care.12. You must care.13. Emotion.13. Emotion.14. 14. Hard is soft.Hard is soft. (Soft is hard.) (Soft is hard.)

EXCELLENCE.EXCELLENCE.

ALL YOU NEED TO KNOW. ALL YOU NEED TO KNOW.

That’s a

BigBig Number

….

THREE THREE BILLIONBILLION NEW NEW CAPITALISTSCAPITALISTS

—Clyde Prestowitz

“There is no job that

is America’s God-given

right anymore.”

—Carly Fiorina/HP/January2004

“There is no job that

is _____’s God-given

right anymore.”

“Deutsche Bank Moves Half of Its Back-office Jobs to India”/

headline/FT/0327 (500 (500 of 900 of 900

ResearchResearch))

That’s a smallsmall Number ….

4343hh

EXCELLENCE. EXCELLENCE. EVERYWHERE.EVERYWHERE.ASPIRATION.ASPIRATION.NECESSITY.NECESSITY.

“One Singaporean worker costs as much as …

3 … in Malaysia

88 … in Thailand … in Thailand 13 … in China 18 … in India.”

Source: The Straits Times/2003

“Thaksinomics” (after Thaksin Shinawatra)

“Bangkok Fashion City”:

“managed “managed asset reflation”asset reflation”

(add to brand value of Thai textiles by demonstrating

flair and design excellence)

Source: The Straits Times/2004

SpainPortugal

ItalyIreland

Singapore TaiwanThailandMalaysia

PhilippinesDubaiOmanChile

RomaniaAustralia

New ZealandNew Zealand

“Better By Design”: A National Strategy

NZ = DesignNZ = Design ExcellenceExcellence

SpainPortugal

ItalyIreland

Singapore ThailandMalaysia


Romania Australia

New Zealand

TaiwanTaiwan

“ ‘“ ‘MADE IN MADE IN TAIWAN’: From TAIWAN’: From

Cheap Cheap Manufacturing to Manufacturing to Chic Branding Chic Branding ””

—Headline/Advertising Age/06.05

Taiwan, Your Taiwan, Your Partner in Partner in InnoValueInnoValue

Poster/Bucharest/03.06

SpainPortugal

ItalyIreland

Singapore ThailandMalaysia


RomaniaRomania Australia

New ZealandTaiwanTaiwan

London circa 1976: “You can’t You can’t build a ‘real economy’ build a ‘real economy’ on services, finance, on services, finance,

advertising, etc.”advertising, etc.”

London circa 2006: deliberately deliberately aims to be the aims to be the “capital “capital

of the 21of the 21stst century” century”

EXCELLENCE. EXCELLENCE. EVERYWHERE.EVERYWHERE.

ROOTS.ROOTS.

Age of AgricultureIndustrial Age

Age of Information IntensificationAge of CreationAge of Creation IntensificationIntensification

Source: Murikami Teruyasu, Nomura Research Institute

Agriculture Age (farmers)

Industrial Age (factory workers)

Information Age (knowledge workers)

Conceptual AgeConceptual Age (creators and empathizers)

Source: Dan Pink, A Whole New Mind

““Human cHuman creativitreativity y is the is the ultimateultimate

economic economic resource.”resource.” —Richard Florida,

The Rise of the Creative Class

““THE FUTURE BELONGS THE FUTURE BELONGS TO … SMALL TO … SMALL

POPULATIONS … WHO POPULATIONS … WHO BUILD BUILD EMPIRESEMPIRES OF THEOF THE

MINDMIND … AND WHO IGNORE THE TEMPTATION OF—OR DO NOT HAVE THE

OPTION OF—EXPLOITING NATURAL RESOURCES.”

Source: Juan Enriquez/As the Future Catches You

U.S. Historical Strength: Invest in Creativity

*Foster new industries*Foster new industries

*Free & open society*Free & open society

*Investment higher ed,*Investment higher ed, R & D, culture R & D, culture

*Immigrants*Immigrants

Source: Richard Florida, The Rise of the Creative Class

““The Creative The Creative Age is aAge is a widewide--openopen g gameame.”.”

—Richard Florida, The Rise of the Creative Class

London circa 1976: “You can’t You can’t build a ‘real economy’ on build a ‘real economy’ on

‘soft services’ like ‘soft services’ like finance, advertising, etc.”finance, advertising, etc.”

London circa 2006: deliberately deliberately aims to replace New York aims to replace New York as the as the “capital of the 21“capital of the 21stst

century”century”

EXCELLENCE. THE EXCELLENCE. THE

MANDATE.MANDATE.

““If you don’t If you don’t like change, like change,

you’re going to you’re going to like like irrelevanceirrelevance even less.”even less.” —General Eric

Shinseki, Chief of Staff. U. S. Army

““It is It is notnot the the strongest of the strongest of the

species that survives, species that survives, nornor the most the most

intelligent, but intelligent, but the the one most responsive one most responsive to changeto change.”.” —Charles Darwin

“Forbes100” from 1917 to 1987: 3939 members of the Class of ’17 were alive members of the Class of ’17 were alive

in ’87; 18 in ’87 F100; 18 F100 in ’87; 18 in ’87 F100; 18 F100 “survivors” significantly “survivors” significantly

underunderpperformederformed the market; the market;

just just 22 (2%), (2%), GEGE & & KodakKodak, , outoutpperformederformed the market from the market from

1917 to 1987. 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

“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 Buy a very large one very large one and just waitand just wait.”.”

—Paul Ormerod, Why Most Things Fail: Evolution, Extinction and Economics

“It is generally much easier to kill an kill an

organizationorganization than change it

substantially.” —Kevin Kelly, Out of Control

C.E.O.C.E.O. to

C.D.O.C.D.O.

DYB.com

““The Silicon Valley of The Silicon Valley of today is built less atop today is built less atop

the spires of earlier the spires of earlier triumphs than upon the triumphs than upon the

rubble of earlier rubble of earlier debacles.debacles.”” —Newsweek/Paul Saffo

““RewardReward excellent failures.

PunishPunish mediocre

successes.”Phil Daniels, Sydney exec

““Wealth in this new regime Wealth in this new regime flows directly from innovation, flows directly from innovation,

not optimization. That is, not optimization. That is, wealth is not gained by wealth is not gained by

perfecting the known, perfecting the known, but by but by imperfectly seizing the imperfectly seizing the unknown.”unknown.” —Kevin Kelly, New Rules for

the New Economy

TP#1*:

NetscapeNetscape!!

*Where would you rather have worked for those 5 yearsWhere would you rather have worked for those 5 years, Netscape or IBM-HP-Microsoft-Oracle? (Where, 25 years from now, would you

rather to be able to tell someone—e.g., grandchild—that you worked?)

EXCELLENCE. EXCELLENCE. STARTERS.STARTERS.HORRORS.HORRORS.

Franchise Lost!

TP: “How many of you [600] really

cravecrave a new Chevy?”

“Ford, GM and Chrysler do not just make cars expensively … they make bad

cars expensively.” —

Investec analyst, International Herald, 0805.06

Sluggish Sluggish ++ Obese Obese ++ Unimaginative Unimaginative ++ More More

Sluggish Sluggish ++ More Obese More Obese ++ More Unimaginative More Unimaginative ++ Even Even More Sluggish More Sluggish ++ Even More Even More

Obese Obese ++ Even More Even More

Unimaginative Unimaginative == NISSAN NISSAN ++ RENAULT RENAULT ++ GM GM = = Innovative Challenger for Innovative Challenger for

Toyota????Toyota????

EXCELLENCE. EXCELLENCE. STARTERS.STARTERS.

BASICS.BASICS.

P.P.C.E.E.E.P.P.C.E.E.E.

PPeople.eople.PProduct.roduct.CClients.lients.

EExecution.xecution.EEnthusiasm.nthusiasm.EExcellence.xcellence.



RRelentlessnesselentlessness..

“One of my superstitions had always been when I started to

go anywhere or to do

anything, not to turn not to turn backback, or stop, until the

thing intended was accomplished.” —Grant

"The reasonable man adapts "The reasonable man adapts himself to the world. The himself to the world. The

unreasonable one persists in unreasonable one persists in trying to adapt the world to trying to adapt the world to

himself.himself. Therefore, all Therefore, all progress depends upon progress depends upon the unreasonable manthe unreasonable man.”.”

—GB Shaw, Man and Superman: The Revolutionists' Handbook.



RRelentlessness. elentlessness.

SSenility.enility.

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

EXCELLENCE. EXCELLENCE. THE WORD.THE WORD.

Synonyms

PurityPurityTranscendenceTranscendence

VirtueVirtueEleganceEleganceMajestyMajesty

Antonyms

Mediocrity

EXCELLENCE. EXCELLENCE.

GAMECHANGER.GAMECHANGER.

Excellence1982: The Bedrock “Eight Basics”

1. A Bias for 1. A Bias for ActionAction2. Close to the 2. Close to the CustomerCustomer3. Autonomy and 3. Autonomy and EntrepreneurshipEntrepreneurship4. Productivity Through 4. Productivity Through PeoPeopplele5. Hands On, Value-Driven5. Hands On, Value-Driven6. Stick to the Knitting6. Stick to the Knitting7. Simple Form, Lean Staff7. Simple Form, Lean Staff8. Simultaneous Loose-Tight8. Simultaneous Loose-Tight Properties” Properties”

ExIn*: 1982-2002/Forbes.com

DJIA: $10,000 yields $85,000$85,000 EI: $10,000 yields $140,050$140,050

*Forbes/Excellence Index /Basket of 32 publicly traded stocks

Them-UsThem-Us

“Them” “Us”

Strategy EXECUTIONEXECUTIONPlanning ActionActionMarketing Selling/SalesSelling/SalesMarkets CustomersCustomersCustomers ClientsClientsMicro-segmentation Big Stuff (Women, Boomers)Big Stuff (Women, Boomers)Cost minimization Revenue maximizationRevenue maximizationSynergy/“Efficiencies” DecentralizationDecentralization“Strategic” supplier Pioneering supplierPioneering supplierProcess ProjectProjectEffectiveness ExcellenceExcellenceMen WomenWomenLeadership Management + LeadershipManagement + LeadershipStandardization Exceptionalism (53 = 53)Exceptionalism (53 = 53)Big clients COOL clientsCOOL clientsPrestigious Board INTERESTING BoardINTERESTING Board


ALWAYS.ALWAYS.

““Why in the Why in the world did world did you go to you go to SSiberiaiberia?”?”

The Peters Principles: Enthusiasm.Enthusiasm.

Emotion. Emotion. Excellence.Excellence. Energy. Energy. Excitement. Service. Growth. Excitement. Service. Growth.

Creativity. Imagination. Vitality. Creativity. Imagination. Vitality. Joy. Surprise. Independence. Joy. Surprise. Independence. Spirit. Community. Limitless Spirit. Community. Limitless human potential. Diversity. human potential. Diversity. Profit.Profit. Innovation. Design. Innovation. Design.

Quality. Entrepreneurialism. Quality. Entrepreneurialism. Wow.Wow.

Business* ** (*at its best): An emotional, An emotional, vital, innovative, joyful, vital, innovative, joyful,

creative, entrepreneurial creative, entrepreneurial endeavor that elicits endeavor that elicits

maximum concerted human maximum concerted human potential in the potential in the

wholehearted servicewholehearted service of others of others.***

**Excellence. Always.***Employees, Customers, Suppliers, Communities, Owners, Temporary partners


DEFINED.DEFINED.

Great Companies … SETSET THETHE

AGENDAAGENDA.*

(PERIOD.)

* “disturb the sleep of …

AGENDA SETTERS: “Set the Table”/ Pioneers/ Questors/ Adventurers

US Steel … Ford … US Steel … Ford … ToyotaToyota … Sears … … Sears … GM … ITT …GM … ITT … The Gap …The Gap … Limited …Limited …

Wal*MartWal*Mart …… TescoTesco …… P&G … 3M …P&G … 3M … IntelIntel … IBM …… IBM … AppleApple …… NokiaNokia ……

CiscoCisco … … DellDell … MCI … Sun …… MCI … Sun … MicrosoftMicrosoft …… GoogleGoogle … Enron …… Enron …

SchwabSchwab …… GEGE … Laker … … Laker … Southwest Southwest … People Express …… People Express … OgilvyOgilvy …… VirginVirgin

…… eBayeBay …… AmazonAmazon … Sony… Sony …… AmgenAmgen …… BMWBMW … CNN … … CNN … NikeNike

Built to Last vs Built for Impact

“But what if [former head of strategic planning at Royal Dutch Shell] Arie De Geus is wrong in suggesting, in The Living Company, that firms should aspire to live forever? Greatness is fleeting and, for corporations, it

will become ever more fleeting. The ultimate The ultimate aim of a business oraim of a business orgganization, an anization, an artist, an athlete or a stockbroker artist, an athlete or a stockbroker mamayy be to ex be to expplode in a dramatic lode in a dramatic frenzfrenzyy of value creation durin of value creation duringg a a

short sshort sppace of time, rather than to ace of time, rather than to live foreverlive forever.”.” —Kjell Nordström and Jonas Ridderstråle,

Funky Business


VALUE ADDED.VALUE ADDED.UP THE LADDER.UP THE LADDER.

EXCELLENCE I. EXCELLENCE I.

SOLVE IT.SOLVE IT.

$55$55BB

““Big Brown’s New Bag: UPSBig Brown’s New Bag: UPS

Aims to Be theAims to Be the Traffic Traffic Manager for Manager for CorCorpporate orate

AmericaAmerica”” —Headline/BW/2004

Huge: Customer

SatisfactionSatisfaction versus Customer

SuccessSuccess

EXCELLENCE.EXCELLENCE.NECESSITY.NECESSITY.

OPPORTUNITY. OPPORTUNITY.

“ ‘Disintermediation’ is overrated. Those who fear disintermediation-outsourcing should in fact be

afraid of irrelevance; ‘outsourcing’ is just another

way of saying that … yyou’ve ou’ve become become

irrelevant toirrelevant to yyour our

customerscustomers.”.”

—John Battelle/Point/Advertising Age/07.05

““support function” / support function” / “cost center”/ “cost center”/ “overhead”“overhead”

oror … …

Are you … ““Rock Rock Stars of the Stars of the

AAgge of Talente of Talent””


SOLVE IT.SOLVE IT. NO OPTION. NO OPTION.PSF. (PSF++)PSF. (PSF++)

Department Head

to …

ManaginManaging g

PartnerPartner, , ISIS [HR, R&D, etc.] IncInc..

TheThe ““PSF35PSF35””:: Thirty-Five Thirty-Five

Professional Service Firm Professional Service Firm Marks of ExcellenceMarks of Excellence

The PSF35: The Work & The Legacy

1.1. CRYSTAL CLEAR POINT OF VIEWCRYSTAL CLEAR POINT OF VIEW

(E very Practice Group: “If you can’t explain your position in eight(E very Practice Group: “If you can’t explain your position in eight words or less, you don’t have a position”—Seth Godin)words or less, you don’t have a position”—Seth Godin)2. 2. DRAMATIC DIFFERENCEDRAMATIC DIFFERENCE (“We are the only ones who do what (“We are the only ones who do what we do”—Jerry Garcia)we do”—Jerry Garcia)3. Stretch Is Routine (“Never bite off less than you can chew”—anon.)3. Stretch Is Routine (“Never bite off less than you can chew”—anon.)4. Eye-Appetite for Game-changer Projects (Excellence at Assembling4. Eye-Appetite for Game-changer Projects (Excellence at Assembling “ “Best Team”—Fast) Best Team”—Fast) 5. “Playful” Clients (Adventurous folks who unfailingly Aim to Change5. “Playful” Clients (Adventurous folks who unfailingly Aim to Change the World)the World)6. Small “Uneconomic” Clients with Big Aims6. Small “Uneconomic” Clients with Big Aims7. Life Is Too Short to Work with Jerks (Fire lousy clients)7. Life Is Too Short to Work with Jerks (Fire lousy clients)8. 8. OBSESSED WITH LEGACYOBSESSED WITH LEGACY (Practice Group and Individual: “Dent the (Practice Group and Individual: “Dent the Universe”—Steve Jobs)Universe”—Steve Jobs)9. Fire-on-the-spot Anyone Who Says, “Law/Architecture/Consulting/9. Fire-on-the-spot Anyone Who Says, “Law/Architecture/Consulting/ I-banking/ Accounting/PR/Etc. has become a ‘commodity’ ”I-banking/ Accounting/PR/Etc. has become a ‘commodity’ ”10. Consistent with #9 above … 10. Consistent with #9 above … DO NOT SHY AWAY FROM THEDO NOT SHY AWAY FROM THE WORD (IDEA) “RADICAL”WORD (IDEA) “RADICAL”

Point of Point of View!View!

Core Mechanism:“Game-changing Solutions”

PSFPSF (Professional Service Firm “model”/The Organizing Principle)

+

Brand YouBrand You(“Distinct” or “Extinct”/The Talent)

+

Wow! ProjectsWow! Projects (“Different” vs “Better”/The Work)


ATTITUDE.ATTITUDE.TRANSFORMATION.TRANSFORMATION.

PSF.PSF.

Are you the …

““PrinciPrincippal al EnEnggineine of of

Value Added”Value Added”*E.g.: Your R&D budget as robust as the New Products team?

“Purchasing Officer” Thrust #1: Cost (at All Costs*) Minimization

Professional? Or/to: FullFull Partner-Partner-Leader in Lifetime Leader in Lifetime

Value-added Value-added MaximizationMaximization?

(*Lopez: “Arguably ‘Villain #1’ in GM tragedy”/Anon VSE-Spain)

Up,Up, Up,Up, Up, Up,

UpUp

the Value-added Ladder.

The Value-added Ladder/ STUFF ‘N’ THINGSSTUFF ‘N’ THINGS

GoodsGoods Raw Materials Raw Materials

The Value-added Ladder/Stuff & TRANSACTIONSTRANSACTIONS

ServicesServicesGoods

Raw Materials

The Value-added Ladder/ OPPORTUNITY-SEEKINGOPPORTUNITY-SEEKING

Gamechanging Gamechanging SolutionsSolutions

ServicesGoods

Raw Materials

EXCELLENCE II. EXCELLENCE II. EXPERIENCE IT.EXPERIENCE IT.

““Experiences Experiences are as distinct are as distinct

from services as from services as services are from services are from goods.”goods.” —Joe Pine & Jim Gilmore, The

Experience Economy: Work Is Theatre & Every Business a Stage

“The [Starbucks] Fix” Is on …

“We have “We have identified a identified a

‘third place.’‘third place.’ And

I really believe that sets us apart. The third place is that place that’s not work or home. It’s the place our customers come for refuge.” —Nancy Orsolini, District

Manager


UpUp


The Value-added Ladder/ MEMORABLE CONNECTIONMEMORABLE CONNECTION

Spellbinding Spellbinding ExperiencesExperiences

Gamechanging SolutionsServicesGoods

Raw Materials

CCXXOO**Chief eXperience Officer

EXCELLENCE. EXCELLENCE. DRAMATIC.DRAMATIC.

DIFFERENCE.DIFFERENCE.DOABLE.DOABLE.

$79$7988

$415$415/SqFt/Wal*Mart

$$798798/SqFt/Whole Foods

EXCELLENCE. EXCELLENCE. NO EXCUSES.NO EXCUSES.

WallopWal*Mart1WallopWal*Mart16*6*

*Or: Why it’s so ABSURDLY EASYABSURDLY EASY to BEATBEAT a GIANTGIANT Company

The “Small Guys” Guide: Wallop Wal*Mart16

**Niche-aimed.Niche-aimed. (Never, ever “all things for all people,” a “mini- (Never, ever “all things for all people,” a “mini-Wal*Mart.)Wal*Mart.)

**Never attack the monsters head on!Never attack the monsters head on! (Instead steal niche (Instead steal niche business and lukewarm customers.)business and lukewarm customers.)

**““DramaticallDramatically y DifferentDifferent”” (La Difference ... within our community, (La Difference ... within our community,

our industry regionally, etc … is as obvious as the end of one’s nose!) our industry regionally, etc … is as obvious as the end of one’s nose!) (THIS IS WHERE MOST MIDGETS COME UP SHORT.)(THIS IS WHERE MOST MIDGETS COME UP SHORT.)

**Compete on value/experience/intimacy, not price.Compete on value/experience/intimacy, not price. (You (You ain’t gonna beat the behemoths on cost-price in 9.99 out of 10 cases.)ain’t gonna beat the behemoths on cost-price in 9.99 out of 10 cases.)

**Emotional bond with Clients, Vendors.Emotional bond with Clients, Vendors. (BEAT THE BIGGIES (BEAT THE BIGGIES ON EMOTION/CONNECTION!!)ON EMOTION/CONNECTION!!)

Jim’s GroupJim’s Group

Jim Penman/“Empire Builders”/MT /

Jan/Feb 2006/Australia

The “Missing 900M”

Will the Boat Sink the Will the Boat Sink the Water: The Life of Water: The Life of China’s PeasantsChina’s Peasants

—Chen Guidi and Wu Chuntao

What I’ve What I’ve Learned about Learned about

“Small “Small Business”Business”

Tom PetersTom Peters

Passion for PRODUCT.Passion for PRODUCT.OBSESSION With ProductOBSESSION With Product..

LOVE LOVE The Product.The Product.Aim To Be Aim To Be “ONLY ONES WHO DO WHAT WE DO.”“ONLY ONES WHO DO WHAT WE DO.”

Keep Keep ADDIN’ADDIN’ Stuff. Stuff.Invest “UNWISELY” in R&D.Invest “UNWISELY” in R&D.

Reside Permanently In The Reside Permanently In The DISCOMFORTDISCOMFORT Zone. Zone.“Unhealthy” “Unhealthy” PARANOIA PARANOIA Is A Good Thing.Is A Good Thing.

Add Clients ThatAdd Clients That PUSH-PULL. PUSH-PULL.SELL.SELL. SELL. SELL. SELL.SELL. SELL. SELL.

Go For Broke: Go For Broke: CUSTOMER CONTACT PEOPLE.CUSTOMER CONTACT PEOPLE.PERFECTION:PERFECTION: Customer Contact People. Customer Contact People.

Hire for Hire for ATTITUDE.ATTITUDE.INVITE INVITE On An Adventure.On An Adventure. GREATGREAT CFO/Biz Guy-Gal. CFO/Biz Guy-Gal. NASTYNASTY CFO/Biz Guy-Gal. CFO/Biz Guy-Gal.

QUADRANGULAR LEADERSHIP:QUADRANGULAR LEADERSHIP: Visionary-Talent Fanatic- Visionary-Talent Fanatic-Project Manager-I.P.M.Project Manager-I.P.M. (I.P.M. = Inspired Profit Mechanic)(I.P.M. = Inspired Profit Mechanic)

I [“Bacteria Man”] HEREBY PLEDGE:

When asked, “What are some examples of companies stepping up to today’s

challenges?” … I will … NEVER NEVER AGAINAGAIN … offer an example of a Giant Company; instead I’ll refer to

Cirque du Soleil, Donnelly’s Weatherstrip Service, 3K tanning salons, 10.6M women-owned businesses (or the

typically/95+% female recipients of micro-lending) …*

*There is more to Biz Life than Giant Cos … LOTS MORE … that “hidden 99%”


UpUp


EXCELLENCE III. EXCELLENCE III.

DREAM IT.DREAM IT.

Furniture vs. Dreams

“We do not sell ‘furniture’ at

Domain. We sell We sell dreamsdreams. 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


UpUp


The Value-added Ladder/ EMOTIONEMOTION

Dreams Come TrueDreams Come TrueSpellbinding Experiences Gamechanging Solutions

ServicesGoods

Raw Materials

Big BlueBig Blue

EXCELLENCE IV. EXCELLENCE IV.

LOVE ITLOVE IT..

“Brands have run out

of juice. They’re

dead.” —Kevin Roberts/Saatchi &

Saatchi

Kevin Roberts:

LovemarLovemar

ksks!!

Top 10 “Tattoo Brands”*

Harley .… 18.9%Harley .… 18.9%Disney .... 14.8Disney .... 14.8

Coke …. 7.7Coke …. 7.7Google .... 6.6Google .... 6.6Pepsi .... 6.1Pepsi .... 6.1Rolex …. 5.6Rolex …. 5.6Nike …. 4.6Nike …. 4.6

Adidas …. 3.1Adidas …. 3.1Absolut …. 2.6Absolut …. 2.6

Nintendo …. 1.5Nintendo …. 1.5

*BRANDsense: Build Powerful Brands through Touch, Taste, Smell, Sight, and Sound, Martin Lindstrom


UpUp


The Value-added Ladder/ ECSTASYECSTASY

LovemarkLovemark Dreams Come True

Spellbinding ExperiencesGamechanging Solutions

ServicesGoods

Raw Materials


UpUp


Ladder.2006: 4 of Ladder.2006: 4 of 7!7!

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Raw Materials


SOUL I.SOUL I.THE STORY.THE STORY.

““StorytellinStorytelling g

is the core is the core of culture.”of culture.”

—Branded Nation: The Marketing of Megachurch, College Inc., and Museumworld, James Twitchell

Best Best story story wins!wins!

MarketMarket Power = Power =

StoryStory Power Power


SOUL II.SOUL II.DESIGN.DESIGN.

All Equal Except …

“At Sony we assume that all products of our competitors

have basically the same technology, price, performance

and features. DesiDesiggn is the n is the onlonlyy thin thingg that that

differentiates one differentiates one pproduct from another roduct from another in the marketin the marketpplacelace.”.” —

Norio Ohga

“Design is

treated like treated like a religiona religion at

BMW.” —Fortune

“We don’t have a good language to talk about this kind of thing. In

most people’s vocabularies, design means veneer. … But to me, nothing could be further from the meaning

of design. Design is the Design is the fundamentalfundamental soulsoul

of a man-made of a man-made creation.”creation.” —Steve Jobs

CCDDOO**Chief Design Officer


WHAT MATTERS.WHAT MATTERS.

“What Isn’t Matter Is

What Matters”

—section title, Branded Nation: The Marketing of Megachurch, College Inc., and Museumworld,

James Twitchell

VA “Teaching Moment”

““Andy pointed to Andy pointed to a molding, about a molding, about halfway up the halfway up the

wall …”wall …”


NEW MARKETS.NEW MARKETS.ENORMOUS. ENORMOUS.

OPPORTUNITIES.OPPORTUNITIES.


OPPORTUNITY.OPPORTUNITY.

“Women are thethe

majority market”

—Fara Warner/The Power of the Purse

1. Men and women are different.1. Men and women are different.2. Very different.2. Very different.3. 3. VERY, VERY DIFFERENTVERY, VERY DIFFERENT..4. Women & Men have a-b-s-o-l-u-t-e-l-y4. Women & Men have a-b-s-o-l-u-t-e-l-y nothing in common. nothing in common.5. Women buy lotsa stuff.5. Women buy lotsa stuff.

6. 6. WOMEN BUY A-L-L THE WOMEN BUY A-L-L THE STUFFSTUFF..7. Women’s Market = Opportunity No. 1.7. Women’s Market = Opportunity No. 1.8. Men are (STILL) in charge.8. Men are (STILL) in charge.9. 9. MEN ARE … TOTALLY, HOPELESSLYMEN ARE … TOTALLY, HOPELESSLY CLUELESS ABOUT WOMEN. CLUELESS ABOUT WOMEN.

10. 10. Women’s Women’s Market = Market =

Opportunity Opportunity No. 1.No. 1.

“To be a leader in To be a leader in consumer products, consumer products, it’s critical to have it’s critical to have

leaders who leaders who represent the represent the population we population we

serveserve.”.” —Steve Reinemund/PepsiCo

Cases!McDonald’sMcDonald’s (“mom-centered” to “majority consumer”;

not via kids)

Home DepotHome Depot (“Do it [everything!] Herself”)

P&GP&G (more than “house cleaner”)

DeBeersDeBeers (“right-hand rings”/$4B)

AXA FinancialAXA FinancialKodakKodak (women = “emotional centers of the household”)

NikeNike (> jock endorsements; new def sports; majority consumer)

AvonAvonBratzBratz (young girls want “friends,” not a blond stereotype)

Source: Fara Warner/The Power of the Purse

““Goldman Sachs in Tokyo has Goldman Sachs in Tokyo has developed andeveloped an index of 115 index of 115

comcomppanies poised to benefit from anies poised to benefit from women’s increased women’s increased ppurchasinurchasingg

ppowerower; ; over the past decade the over the past decade the value of shares in Goldman’s value of shares in Goldman’s

basket hasbasket has risen by risen by 9696%%, against , against the Tokyo stockmarket’s rise of the Tokyo stockmarket’s rise of

1313%%.”.”

—Economist, April 15


OPPORTUNITY.OPPORTUNITY.

2000-2010 Stats

18-44: -1%-1%

55+: ++2121%%(55-64: ++4747%%)

44-65: “New “New Customer Customer Majority”Majority” *

*45% larger than 18-43; 60% larger by 2010Source: Ageless Marketing, David Wolfe & Robert Snyder


INNOVATE. INNOVATE. OR. DIE.OR. DIE.

“A focus on cost-cutting and efficiency has helped many organizations weather

the downturn, but this approach will

ultimately render them obsolete.

OnlOnlyy the constant the constant ppursuit of innovation ursuit of innovation

can ensure loncan ensure long-g-term successterm success.”.”

—Daniel Muzyka, Dean, Sauder School of Business, Univ of British Columbia (FT/09.17.04)

More than $$$$

#1#1 R&D

spending, last 25 years?

New Economy?!

Genentech09, Genentech09, Amgen09Amgen09

> Merck09 (70K-3/394B-5)

PathPatheticetic!!

“Forbes100” from 1917 to 1987: 3939 members of the Class of ’17 were alive members of the Class of ’17 were alive

in ’87; 18 in ’87 F100; 18 F100 in ’87; 18 in ’87 F100; 18 F100 “survivors” significantly “survivors” significantly

underunderpperformederformed the market; the market;

just just 22 (2%), (2%), GEGE & & KodakKodak, , outoutpperformederformed the market from the market from

1917 to 1987. 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

“I don’t believe in

economies of scale. You You don’t get better don’t get better by being bigger. by being bigger. You get worseYou get worse.”.” —

Dick Kovacevich/Wells Fargo

Scale?

“Microsoft’s Struggle With

Scale”Scale” —Headline, FT, 09.2005

“Troubling ExitsExits at Microsoft” —Cover Story, BW, 09.2005

“Too BigToo Big to Move Fast?” —Headline, BW, 09.2005

““[Dell’s] predicament may be intractable.[Dell’s] predicament may be intractable. Dell Dell remained slavishly loyal to its core idea of ultra-efficient remained slavishly loyal to its core idea of ultra-efficient

supply-chain management and direct sales to customers, even supply-chain management and direct sales to customers, even as rivals have stepped up their game. … Instead of adapting, as rivals have stepped up their game. … Instead of adapting, critics say, Dell cut costs in ways that compromised customer critics say, Dell cut costs in ways that compromised customer

service and, possibly, product quality.”service and, possibly, product quality.” —BW, 0904

““They’re a one-trick pony. It was a great trick They’re a one-trick pony. It was a great trick for over 10 years.”for over 10 years.” —tech exec/BW

““Dell’s culture is not inspirational or Dell’s culture is not inspirational or aspirational.aspirational. This is when they need to be imaginative, This is when they need to be imaginative, but [Dell’s] culture only wants to talk about execution.”but [Dell’s] culture only wants to talk about execution.” —

Geoffrey Moore

““There are some organizations where people There are some organizations where people think they’re a hero if they invent a new thing. think they’re a hero if they invent a new thing.

Being a hero at Dell means saving money.”Being a hero at Dell means saving money.” —Kevin Rollins, CEO

“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 I’m sure there are success stories out are success stories out

there, but at this there, but at this moment I draw a moment I draw a

blankblank.”.” —Mark Sirower, The Synergy Trap

““Conglomerates Conglomerates don’t work.”don’t work.”

—James Surowiecki, The New Yorker

“Acquisitions are about buying market share.

Our challenge is Our challenge is to create to create

marketsmarkets.. There is a big difference.”

—Peter Job, former CEO, Reuters

Free at Last: Most Recent Chapter in a Long-running Saga

Freescale Freescale SemiconductorSemiconductor*

*$16B$16B

SpinoffsSpinoffs systematically perform better than IPOs … track

record, profits … “freed from the “freed from the confines of the parent … more confines of the parent … more entrepreneurial, more nimbleentrepreneurial, more nimble”

—Jerry Knight/ Washington Post/ 08.05

EXCELLENCE. EXCELLENCE. INNOVATION.INNOVATION.

THE REAL STORY. THE REAL STORY.

““Recently I asked three corporate Recently I asked three corporate executives what decisions they had made executives what decisions they had made in the last year that would not have been in the last year that would not have been

made were it not for their corporate made were it not for their corporate plans. All had difficulty identifying one plans. All had difficulty identifying one such decision. Since all of the plans are such decision. Since all of the plans are

marked ‘secret’ or ‘confidential,’marked ‘secret’ or ‘confidential,’ I asked I asked them how their comthem how their comppetitors mietitors migght ht benefit frombenefit from p possession of their ossession of their

pplans. Each answered with lans. Each answered with embarrassment that their embarrassment that their

comcomppetitors would not benefitetitors would not benefit.”.” —Russell Ackoff (from Henry Mintzberg,

The Rise and Fall of Strategic Planning)

The Perils of Conservatism/The Perils of Conservatism/IndustrIndustryy Leadershi Leadershipp

“ ‘“ ‘GoodGood management’ was management’ was the most powerful reason the most powerful reason

[leading firms] failed to stay [leading firms] failed to stay atop their industries.atop their industries. Precisely Precisely

because these firms listened to their because these firms listened to their customers, invested aggressively in customers, invested aggressively in

technologies that would provide their technologies that would provide their customers more and better products of the customers more and better products of the

sort they wanted, and because they sort they wanted, and because they carefully studied market trends and carefully studied market trends and

systematically allocated investment capital systematically allocated investment capital to innovations that promised the best to innovations that promised the best

returns, they lost their positions of returns, they lost their positions of leadership.”leadership.”

—Clayton Christensen, The Innovator’s Dilemma

““A pattern emphasized in the case A pattern emphasized in the case studies in this book is the degree to studies in this book is the degree to which powerful competitors not only which powerful competitors not only resist innovative threats, but actually resist innovative threats, but actually resist all efforts to understand them, resist all efforts to understand them, preferring to further their positions preferring to further their positions in older products.in older products. This results in a

surge of productivity and performance that may take the old technology to unheard of heights. But in most cases this is a sign of

impending death.” —Jim Utterback, Mastering the

Dynamics of Innovation

The Mess Is the Message! Period!An Economic Interpretation of the ConstitutionAn Economic Interpretation of the Constitution

of the United States of the United States —Charles Beard (1913)

The Box: How the Shipping Container Made the World The Box: How the Shipping Container Made the World Smaller and the World Economy BiggerSmaller and the World Economy Bigger —Marc Levinson

Tube: The Invention of TelevisionTube: The Invention of Television —David & Marshall Fisher

Empires of Light: Edison, Tesla, Westinghouse, Empires of Light: Edison, Tesla, Westinghouse, and the Race to Electrify the Worldand the Race to Electrify the World —Jill Jonnes

The Soul of a New MachineThe Soul of a New Machine —Tracy Kidder

Rosalind Franklin: The Dark Lady of DNARosalind Franklin: The Dark Lady of DNA —Brenda Maddox

The Blitzkrieg MythThe Blitzkrieg Myth —John Mosier

LessonsNeed-drivenNeed-driven

A thousand “parents”A thousand “parents”

MessyMessyEvolutionaryEvolutionary

“Trivial”“Trivial”RelentlessRelentless Experimentation Experimentation

Trial Trial & & many, many eRRORsmany, many eRRORs“Real heroes” seldom around when the battle is won“Real heroes” seldom around when the battle is won

Loooong time for systemic adaptation/sLoooong time for systemic adaptation/s(many innovations) (bill of lading, standard time)

Not …

“Plan-driven”“Plan-driven”The product of “Strategic Thinking/Planning”The product of “Strategic Thinking/Planning”

The product of “focus groups”The product of “focus groups”

Get mad.Get mad. Do Do something something

about it. about it. Now.Now.

Fooled by Fooled by RandomnessRandomness: :

The Hidden Role The Hidden Role of Chance in Life of Chance in Life and the Marketsand the Markets

—Nassim Nicholas Taleb

““We are in a We are in a brawl with no brawl with no

rules.”rules.” —Paul Allaire

S.A.V.S.A.V.

What “We” Know “For Sure” About Innovation

Big mergers don’t workBig mergers don’t workScale is over-ratedScale is over-rated

Strategic planning is the last refuge of scoundrelsStrategic planning is the last refuge of scoundrelsFocus groups are counter-productiveFocus groups are counter-productive“Built to last” is a chimera (stupid)“Built to last” is a chimera (stupid)

Success killsSuccess kills“Forgetting” is impossible“Forgetting” is impossible

Re-imagine is a charming ideaRe-imagine is a charming idea“Orderly innovation process” is an oxymoronic phrase“Orderly innovation process” is an oxymoronic phrase

(= Believed only by morons with ox-like brains) (= Believed only by morons with ox-like brains)“Tipping points” are easy to identify …“Tipping points” are easy to identify … long after they will do you any good long after they will do you any good

“Facts” aren’t“Facts” aren’tAll information making it to the top is filteredAll information making it to the top is filtered

to the point of danger and hilarity to the point of danger and hilarity“Success stories” are the illusions of egomaniacs (and “gurus”)“Success stories” are the illusions of egomaniacs (and “gurus”)

If you believe the memoirs of CEOs you should be institutionalizedIf you believe the memoirs of CEOs you should be institutionalized“Herd behavior” (XYZ is “hot”) is ubiquitous“Herd behavior” (XYZ is “hot”) is ubiquitous

… and amusing … and amusing“Top teams” are “Dittoheads”“Top teams” are “Dittoheads”

CEOs have little effect on performanceCEOs have little effect on performance“Expert” prediction is rarely better than rolling the dice“Expert” prediction is rarely better than rolling the dice

InnoTacsInnoTacs

We We becomebecome who we who we

spend time spend time with!with!

Measure “Strangeness”/Portfolio Quality

StaffStaffConsultantsConsultants

VendorsVendorsOut-sourcing Partners Out-sourcing Partners (#, Quality)(#, Quality)

Innovation Alliance PartnersInnovation Alliance PartnersCustomersCustomers

Competitors Competitors (who we “benchmark” against)(who we “benchmark” against)

Strategic Initiatives Strategic Initiatives Product Portfolio Product Portfolio (LineEx v. Leap)(LineEx v. Leap)

IS/IT ProjectsIS/IT ProjectsHQ LocationHQ Location

Lunch MatesLunch MatesLanguageLanguage

BoardBoard

“The The Bottleneck Bottleneck

Is at the Top Is at the Top of the of the

Bottle”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:

AtAt thethe totop!”p!”

— Gary Hamel/Harvard Business Review

Keep Austin Keep Austin WeirdWeird

futuremarkfuturemark

““Don’t Don’t benchmark, benchmark, futuremark!futuremark!

”” Impetus: “The future is already here; it’s just

not evenly distributed” —William Gibson

““To grow, companies To grow, companies need to break out of a need to break out of a

vicious cycle of vicious cycle of competitive competitive

benchmarking and benchmarking and imitation.”imitation.” —W. Chan Kim & Renée Mauborgne,

“Think for Yourself —Stop Copying a Rival,” Financial Times/2003

Find ’em!Find ’em!

““Somewhere in your Somewhere in your organization, groups of organization, groups of

people are people are alreadalreadyy doin doingg thinthinggs differentls differentlyy and and

better. To create lasting better. To create lasting change, find these areas change, find these areas of positive deviance and of positive deviance and

fan the flamesfan the flames.”.”

—Richard Pascale & Jerry Sternin, “Your Company’s Secret Change Agents,” HBR

Demos!Demos! Heroes! Heroes! Stories!Stories!

““Never doubt that a Never doubt that a small group of small group of

committed peoplecommitted people can change the can change the

world. Indeed it isworld. Indeed it is the only thing that the only thing that ever has.”ever has.” —Margaret Mead

send ’em on send ’em on

a quest!a quest!

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 is free to do his or her absolute besther absolute best.”.”

“The best thing a leader can do for a

Great Group is to allow its allow its members to discover their members to discover their

ggreatnessreatness.”.”

Leadership’s Mt Everest/Mt Excellence

“free to do his or her free to do his or her absolute best” …absolute best” …

“allow its members to “allow its members to discover their discover their greatness.”greatness.”

Concoct a Concoct a Parallel Parallel

universe!universe!

“SkunkWorks”/ “ParallelUniverse”

“the 1%1%

solution”Source: Scott Bedbury (Others: 3M, Google, Shell, NAVFAC)

““Venture” Venture” fund:fund: Gerstner/Amex, Dow/Marriott, Grove/Intel,

Bedbury/Starbucks

Forward, march: The “Sri Lanka Stratagem”

ACTION ACTION “culture”“culture”

““ExperimenExperiment t

fearlessly”fearlessly”Source: BW0821.06, Type A Organization Strategies/

“How to Hit a Moving Target”—Tactic #1

“We made mistakes, of course. Most of them were omissions we didn’t think of when we initially wrote the

software. We fixed them by doing it over and over, again and again. We do the same today. While our competitors are still sucking their thumbs trying to

make the design perfect, we’re already on prototype

version No. 5No. 5. By the time our rivals are ready with wires and screws, we are on version

No. 10No. 10.. It It ggets back to ets back to pplanninlanningg versus actin versus actingg: We act : We act from dafrom dayy one; others one; others p plan how lan how

to to pplan—for monthslan—for months.”.”

—Bloomberg by Bloomberg

tolerate tolerate [encourage?] [encourage?]

failurefailure

““Fail . Forward. Fail . Forward. Fast.”Fast.”

High Tech CEO, Pennsylvania

“Fail faster. “Fail faster. Succeed Succeed Sooner.”Sooner.”

David Kelley/IDEO

Sam’s Sam’s Secret Secret

#1!#1!

ClarityClarity

JackWorld/1@T1@T: (1) Neutron Neutron

Jack.Jack. (Banish bureaucracy.) (2) “1, 2 or out” “1, 2 or out” Jack.Jack. (Lead or leave.) (3) “Workout” “Workout”

Jack.Jack. (Empowerment, GE style.) (4) 6-Sigma 6-Sigma Jack.Jack. (5) Internet Jack.Internet Jack.

(1-5/Throughout) TALENT JACK!TALENT JACK!

bet the bet the tabletable

“[Immelt] is now identifying technologies with which GE

will … systematically systematically set out to build set out to build

entirely new entirely new industriesindustries”” —Strategy+Business, Fall

2005

Conscious Conscious measurementmeasurement

Innovation IndexInnovation Index:: How many of your Top 5Top 5 Strategic

Initiatives/Key Projects score 88 or higher or higher [out of 10] on a

“Weird”“Weird”/ / “Profound”“Profound”/ / “Wow”“Wow”//“Game- changer”“Game- changer”

Scale?

Inno64: Inno64: Innovation Innovation StrategiesStrategies & Tactics & Tactics

Parallel universeParallel universe /Exec Ed v res MBA/Exec Ed v res MBAEnd run regnant powers/JKCEnd run regnant powers/JKCFind done deals-practicing mavericks/Stone-ReGoFind done deals-practicing mavericks/Stone-ReGoBell curves2016 in 2006Bell curves2016 in 2006Non-industry benchmarkingNon-industry benchmarkingEverything = PortfolioEverything = PortfolioV.C.s all!V.C.s all!Hot language/Wow-Astonish me-Insanely Hot language/Wow-Astonish me-Insanely great-immortal-Make something greatgreat-immortal-Make something greatLead customers/PW-EmbraerLead customers/PW-EmbraerLead suppliers /Top decile R&DLead suppliers /Top decile R&DWeird alliancesWeird alliancesMottos/Paul Arden (“Whatever You Think Mottos/Paul Arden (“Whatever You Think Think the Opposite”)Think the Opposite”)Hire freaks/Enough weird people?Hire freaks/Enough weird people?Weird Boards!!!Weird Boards!!!

EXCELLENCE. EXCELLENCE. INNOVATION.INNOVATION. REVOLUTION. REVOLUTION.

ORGANIZATION.ORGANIZATION.

Excellence: The SE22:

ORIGINS OF ORIGINS OF SUSTAINABLE SUSTAINABLE

ENTREPRENEURSHIENTREPRENEURSHIPP

SE22/Origins of Sustainable Entrepreneurship1. Genetically disposed to Innovations that upset apple carts 1. Genetically disposed to Innovations that upset apple carts (3M, Apple, (3M, Apple,

FedEx, Virgin, BMW, Sony, Nike, Schwab, Starbucks, Oracle, Sun,FedEx, Virgin, BMW, Sony, Nike, Schwab, Starbucks, Oracle, Sun, Fox, Stanford University, MIT)Fox, Stanford University, MIT)

2. Perpetually determined to outdo oneself, even to 2. Perpetually determined to outdo oneself, even to the detriment of today’s $$$ winners the detriment of today’s $$$ winners (Apple, Cirque du Soleil, Nokia, FedEx)(Apple, Cirque du Soleil, Nokia, FedEx)

3. Treat History as the Enemy 3. Treat History as the Enemy (GE)(GE)

4. Love the Great Leap/Enjoy the Hunt 4. Love the Great Leap/Enjoy the Hunt (Apple, Oracle, Intel, Nokia, Sony)(Apple, Oracle, Intel, Nokia, Sony)

5. Use “Strategic Thrust Overlays” to Attack Monster Problems 5. Use “Strategic Thrust Overlays” to Attack Monster Problems (Sysco, (Sysco, GSK, GE, Microsoft)GSK, GE, Microsoft)

6. Establish a “Be on the COOL Team” Ethos. 6. Establish a “Be on the COOL Team” Ethos. (Most PSFs, Microsoft)(Most PSFs, Microsoft)

7. Encourage Vigorous Dissent/Genetically “Noisy” 7. Encourage Vigorous Dissent/Genetically “Noisy” (Intel, Apple, (Intel, Apple, Microsoft, CitiGroup, PepsiCo)Microsoft, CitiGroup, PepsiCo)

8. 8. ““Culturally” as well as Culturally” as well as organizationally Decentralizedorganizationally Decentralized

(GE, J&J, Omnicom)(GE, J&J, Omnicom)

9. Multi-entrepreneurship/Many Independent-minded Stars 9. Multi-entrepreneurship/Many Independent-minded Stars (GE,(GE, PepsiCo)PepsiCo)

SE22/Origins of Sustainable Entrepreneurship

10. Keep decentralizing—tireless in pursuit of wiping 10. Keep decentralizing—tireless in pursuit of wiping outout Centralizing Tendencies Centralizing Tendencies (J&J, Virgin)(J&J, Virgin)

11. Scour the world for Ingenious Alliance Partners— 11. Scour the world for Ingenious Alliance Partners— especially exciting start-ups especially exciting start-ups (Pfizer)(Pfizer)

12. Acquire for Innovation, not Market Share 12. Acquire for Innovation, not Market Share (Cisco, GE)(Cisco, GE)

13. Don’t overdo “pursuit of synergy” 13. Don’t overdo “pursuit of synergy” (GE, J&J, Time Warner)(GE, J&J, Time Warner)

14. Execution/Action Bias: Just do it … don’t obsess on14. Execution/Action Bias: Just do it … don’t obsess on how it “fits the business model.”how it “fits the business model.” (3M, J & J) (3M, J & J)

15. Find and Encourage and Promote Strong-willed/15. Find and Encourage and Promote Strong-willed/ Hyper-smart/Independent people Hyper-smart/Independent people (GE, PepsiCo, Microsoft)(GE, PepsiCo, Microsoft)

16. Support Internal Entrepreneurs16. Support Internal Entrepreneurs (3M, Microsoft) (3M, Microsoft)

17. Ferret out Talent anywhere/“No limits” approach to17. Ferret out Talent anywhere/“No limits” approach to retaining top talent retaining top talent (Virgin, GE, PepsiCo(Virgin, GE, PepsiCo))

SE22/Origins of Sustainable Entrepreneurship

18. Unmistakable Results & Accountability focus from18. Unmistakable Results & Accountability focus from the get-go to the grave the get-go to the grave (GE, New York Yankees, PepsiCo)(GE, New York Yankees, PepsiCo)

19. 19. Up or OutUp or Out (GE, McKinsey, big consultancies and law (GE, McKinsey, big consultancies and law

firms and ad agencies and movie studios in general)firms and ad agencies and movie studios in general)

20. Competitive to a fault! 20. Competitive to a fault! (GE, New York Yankees, News(GE, New York Yankees, News Corp/Fox, PepsiCo)Corp/Fox, PepsiCo)

21. “Bi-polar” Top Team, with “Unglued” Innovator #1,21. “Bi-polar” Top Team, with “Unglued” Innovator #1, powerful Control Freak #2 powerful Control Freak #2 (Oracle, Virgin) (Watch out when(Oracle, Virgin) (Watch out when #2 is missing: Enron)#2 is missing: Enron)

22. Masters of Loose-Tight/Hard-nosed about a very few22. Masters of Loose-Tight/Hard-nosed about a very few Core Values, Open-minded about everything elseCore Values, Open-minded about everything else (Virgin)(Virgin)

Itinerant. Itinerant. Potential. Potential. Machines.Machines.

TALENT POOL TO DIE FOR.TALENT POOL TO DIE FOR. Youthful. Youthful. Insanely energetic. Value creativity. Risk Insanely energetic. Value creativity. Risk taking is routine.taking is routine. Failing is normal … if Failing is normal … if you’re stretching. Want to “make their you’re stretching. Want to “make their

bones” in “the revolution.” Love the new bones” in “the revolution.” Love the new technologies. Well rewarded. technologies. Well rewarded. Don’t plan Don’t plan

to be around 10 years from now.to be around 10 years from now.

TALENT POOL PLUS.TALENT POOL PLUS. Seek out and Seek out and work with “world’s best” as needed work with “world’s best” as needed

(it’s often needed). (it’s often needed). “We aim to change “We aim to change the world, and we need gifted the world, and we need gifted

colleagues—who well may not be on colleagues—who well may not be on our payroll.”our payroll.”

BRASSY-BUT-GROUNDED-LEADERSHIP.BRASSY-BUT-GROUNDED-LEADERSHIP. “Visionary” leaders matched by leaders with “Visionary” leaders matched by leaders with

shrewd business sense: “HOW DO WE TURN A shrewd business sense: “HOW DO WE TURN A PROFIT ON THIS GORGEOUS IDEA?” Appreciate PROFIT ON THIS GORGEOUS IDEA?” Appreciate

“market creation” as much as or more than “market creation” as much as or more than “market share growth.” “market share growth.” ARE INSANELY AWARE ARE INSANELY AWARE

THAT MARKET LEADERS ARE ALWAYS IN THAT MARKET LEADERS ARE ALWAYS IN PRECARIOUS POSITIONS, AND THAT MARKET PRECARIOUS POSITIONS, AND THAT MARKET SHARE WILL NOT PROTECT US, IN TODAY’S SHARE WILL NOT PROTECT US, IN TODAY’S VOLATILE WORLD, FROM THE NEXT KILLER VOLATILE WORLD, FROM THE NEXT KILLER IDEA AND KILLER ENTREPRENEUR.IDEA AND KILLER ENTREPRENEUR. (Gates. (Gates. Ellison. Venter. McNealy. Walton. Case. Etc.)Ellison. Venter. McNealy. Walton. Case. Etc.)

ALLIANCE MANIACS.ALLIANCE MANIACS. Don’t assume Don’t assume that “the best resides within.” that “the best resides within.” WORK WORK WITH A SHIFTING ARRAY OF STATE-WITH A SHIFTING ARRAY OF STATE-OF-THE-ART PARTNERS FROM ONE OF-THE-ART PARTNERS FROM ONE

END OF THE “SUPPLY CHAIN” TO END OF THE “SUPPLY CHAIN” TO THE OTHERTHE OTHER. Including vendors and . Including vendors and consultants and … who especially … consultants and … who especially …

PIONEERING CUSTOMERS … will PIONEERING CUSTOMERS … will “pull us into the future.”“pull us into the future.”

POTENTIAL MACHINES-POTENTIAL MACHINES-ORGANISMS.ORGANISMS. Don’t know Don’t know

what’s coming next. But are what’s coming next. But are ready to jump at ready to jump at

opportunities, especially opportunities, especially those that challenge-those that challenge-

overturn our own “way of overturn our own “way of doing things.”doing things.”

““Crazy Times Call Crazy Times Call for Crazy for Crazy

Organizations”Organizations” —Subtitle, The Tom Peters Seminar (1993)


4/40.4/40.

4/404/40

De-cent-De-cent-ral-iz-ral-iz-a-tion!a-tion!

“‘“‘DecentralizatioDecentralization’ is n’ is notnot a piece a piece of paper. It’s of paper. It’s notnot me. It’s either in me. It’s either in

your heart, or your heart, or not.”not.”

—Brian Joffe/BIDvest

Ex-e-Ex-e-cu-cu-

tion!tion!

““ExecutionExecution is is thethe j jobob of of

the business the business leader.”leader.” —Larry Bossidy & Ram

Charan/ Execution: The Discipline of Getting Things Done

Ac-count-Ac-count-a-bil-ity!a-bil-ity!

““GE has set a GE has set a standard of candor. standard of candor.

… There is no … There is no puffery. … puffery. … There There isn’t an ounce of isn’t an ounce of

denial in the denial in the pplacelace.”.” —

Kevin Sharer, CEO Amgen, on the “GE mystique” (Fortune)

6:15A.M6:15A.M..


ACTION.ACTION.ROOTS.ROOTS.

GRANTGRANT

“One of my superstitions had always been when I

started to go anywhere or

to do anything, not to not to turn backturn back, or stop, until the thing intended was accomplished.” —Grant

NELSONNELSON

On NELSON: “[other] “[other] admirals more admirals more frightened of frightened of losing than losing than

anxious to win”anxious to win”

BOSSIDYBOSSIDY

“Execution is a

systematic systematic processprocess of rigorously

discussing hows and whats, tenaciously following through, and

ensuring accountability.” —Larry Bossidy & Ram Charan/ Execution:

The Discipline of Getting Things Done

PEROTPEROT

READY.READY.FIRE!FIRE!AIM.AIM.

Ross Perot (vs “Aim! Aim! Aim!” /EDS vs GM/1985)

MASTERSMASTERS

“This is so simple it sounds stupid, but it is amazing how few oil people really

understand that you only you only find oil if you find oil if you drill wellsdrill wells.. You may

think you’re finding it when you’re drawing maps and

studying logs, but you have to drill.”

Source: The Hunters, by John Masters, Canadian O & G wildcatter

KELLEHER KELLEHER

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

PETERS-PETERS-WATERMANWATERMAN

In Search of Excellence/1982/The Bedrock “Eight Basics”

1. A Bias for A Bias for ActionAction

2. Close to the Customer3. Autonomy and Entrepreneurship4. Productivity Through People5. Hands On, Value-Driven6. Stick to the Knitting7. Simple Form, Lean Staff8. Simultaneous Loose-Tight Properties”


BEDROCK.BEDROCK.TALENT.TALENT.

Brand Brand = =

Talent.Talent.

“The role of the Director is to create a space where

the actor or actress can become more than become more than they’ve ever been they’ve ever been before, more than before, more than

they’ve dreamed of they’ve dreamed of beingbeing.”.” —Robert Altman, Oscar acceptance

Our Mission

To develop and manage To develop and manage talent;talent;

to apply that talent,to apply that talent,throughout the world, throughout the world,

for the benefit of clients;for the benefit of clients;to do so in partnership; to do so in partnership;

to do so with profit.to do so with profit.

WPP

““Leaders Leaders

‘‘dodo’’ people. people.

Period.”Period.” —Anon.

Hire Hire ververy y good good

people!people!

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

Pacific changed 2020 of his 4040 box plant managers to

put more talented, higher paid managers in charge. He increased profitability from

$$2525 million to $$8080 million in 22 years.”

—Ed Michaels, War for Talent

DDDD$21M$21M

A review of Jack and Suzy Welch’s Winning claims there are but two key differentiators that set GE “culture” apart from the herd:

First: Separating financial forecasting and performance measurement. Performance measurement based, as it usually is, on budgeting leads to an epidemic of gaming the system. GE’s performance measurement is divorced from budgeting—and instead reflects how you do relative to your past performance and relative to competitors’ performance; i.e., it’s about how you actually do in the context of what happened in the real world, not as compared to a gamed-abstract plan developed last year.

Second: Putting Putting HRHR on a par with on a par with finance and finance and marketing.marketing.

A Few Lessons from the Arts

Each hired and developed and evaluated in unique waysEach hired and developed and evaluated in unique ways (23 contributors = 23 unique contributions = 23 pathways =

23 personalities = 23 sets of motivators)

Attitude/Enthusiasm/Energy paramountAttitude/Enthusiasm/Energy paramountRe-lent-less!Re-lent-less!

“Practice is cool”“Practice is cool” (G Leonard/Mastery)

Team Team and and individual individual Aspire to Aspire to EXCELLENCE EXCELLENCE = Obvious= Obvious

Ex-e-cu-tionEx-e-cu-tionTalent = Brand = DuhTalent = Brand = Duh“The Project” rules“The Project” rulesEmotional languageEmotional language

Bit players. No.Bit players. No.B.I.WB.I.W. (everything)

Delta events = Delta rostersDelta events = Delta rosters (incl leader/s)

Re-imaRe-imaggineinePeoPeopple Power:le Power:

The Talent The Talent5050

The Talent50

1. People first!1. People first!2. Soft is Hard. 2. Soft is Hard. 3. FUNDAMENTAL PREMISE: We are in an3. FUNDAMENTAL PREMISE: We are in an Age of Talent/ Creativity/Intellectual- Age of Talent/ Creativity/Intellectual- capital Added. capital Added.4. Talent “excellence” in every part of 4. Talent “excellence” in every part of thethe organization. organization.5. P.O.T./Pursuit Of Talent = Obsession.5. P.O.T./Pursuit Of Talent = Obsession.6. HR sits at The Head Table.6. HR sits at The Head Table.7. HR is “cool.”7. HR is “cool.”

50. Talent Talent = Brand.= Brand.

EXCELLENCE. EXCELLENCE. WOMEN.WOMEN.

RULE.RULE.

““AS AS LEADERS, LEADERS, WOMEN WOMEN

RULERULE:: New Studies find that

female managers outshine their male counterparts in almost every measure”

Title, Special Report/BusinessWeek

WOMENWOMEN

DOMINATE DOMINATE ECONOMIC ECONOMIC GROWTH.GROWTH.

““Forget China, Forget China, India and the India and the

Internet: Economic Internet: Economic Growth Is Driven Growth Is Driven by by WomenWomen.”.” —Headline,

Economist, April 15, 2006, Leader, page 14

EXCELLENCE. EXCELLENCE. INDIVIDUAL.INDIVIDUAL.BRAND YOU.BRAND YOU.

““If there is nothing If there is nothing very special about very special about your work,your work, no matter no matter how hard you apply yourself how hard you apply yourself you won’t get noticed, and you won’t get noticed, and

that increasingly means you that increasingly means you

won’t get paid much either.”won’t get paid much either.” —Michael Goldhaber, Wired

New Work SurvivalKit.2006

1. Mastery!Mastery! (Best/Absurdly Good at Something!)2. “Manage” to Legacy“Manage” to Legacy (All Work = “Memorable”/“Braggable” WOW Projects!)3. A “USP”/Unique Selling PropositionA “USP”/Unique Selling Proposition (R.POV8: Remarkable Point of View … captured in 8 or less words) 4. Rolodex ObsessionRolodex Obsession (From vertical/hierarchy/“suck up” loyalty to horizontal/“colleague”/“mate” loyalty)5. Entrepreneurial InstinctEntrepreneurial Instinct (A sleepless … Eye for Opportunity! E.g.: Small Opp for Independent Action beats faceless part of Monster Project)6. CEO/Leader/Businessperson/CloserCEO/Leader/Businessperson/Closer (CEO, Me Inc. Period! 24/7!)7. Master of ImprovMaster of Improv (Play a dozen parts simultaneously, from Chief Strategist to Chief Toilet Scrubber)8. Sense of HumorSense of Humor (A willingness to Screw Up & Move On)9. Comfortable with Your SkinComfortable with Your Skin (Bring “interesting you” to work!)10. Intense Appetite for TechnologyIntense Appetite for Technology (E.g.: How Cool-Active is your Web site? Do you Blog?)11. Embrace “Marketing”Embrace “Marketing” (Your own CSO/Chief Storytelling Officer)12. Passion for RenewalPassion for Renewal (Your own CLO/Chief Learning Officer) 13. Execution Excellence!Execution Excellence! (Show up on time! Leave last!)

DistinctDistinct … or

… ExtinctExtinct

EXCELLENCE. EXCELLENCE. ABSENT: THE ABSENT: THE

SCHOOLS SCHOOLS FIASCO. FIASCO.

“How many artists are there in the room? Would you please raise your hands. FIRST GRADE: En mass the children leapt from their seats, arms waving. Every child was an artist. SECOND GRADE:

About half the kids raised their hands, shoulder high, no higher. The hands were still. THIRD GRADE: At best, 10 kids out of 30 would raise a hand, tentatively, self-consciously. By the time I reached

SIXTH GRADE, no more than one or two kids raised their hands, and then ever so slightly, betraying a fear of being identified by the

group as a ‘closet artist.’ The point is:

Every school I visitedEvery school I visited was participating in was participating in

the systematic suppression the systematic suppression of creative genius of creative genius.”

Source: Gordon MacKenzie, Orbiting the Giant Hairball

Ye gads: ““Thomas Stanley has not only found Thomas Stanley has not only found no correlation between success in school and no correlation between success in school and an ability to accumulate wealth, he’s actually an ability to accumulate wealth, he’s actually found a nefound a neggative correlationative correlation. ‘It seems that . ‘It seems that

school-related evaluations are poor school-related evaluations are poor predictors of economic success,’ Stanley predictors of economic success,’ Stanley

concluded. What did predict success was a concluded. What did predict success was a willingness to take risks. Yet the success-willingness to take risks. Yet the success-

failure standards of most schools penalized failure standards of most schools penalized risk takers. risk takers. Most educational systems reward Most educational systems reward those who play it safe. As a result, those who those who play it safe. As a result, those who

do well in school find it hard to take risks do well in school find it hard to take risks

later onlater on.”.” —Richard Farson & Ralph Keyes,

Whoever Makes the Most Mistakes Wins

15 “Leading” Biz Schools

DesignDesign/Core: 00Design/Elective: 1

CreativitCreativityy/Core: 00Creativity/Elective: 4

InnovationInnovation/Core: 00Innovation/Elective: 6

Source: DMI/Summer 2002/Research by Thomas Lockwood


BEDROCK.BEDROCK.LEADERSHIP.LEADERSHIP.


BEDROCK.BEDROCK.PURPOSE.PURPOSE.

““I never, ever thought I never, ever thought of myself as a of myself as a

businessman. businessman. I was I was interested in interested in

creating things I creating things I would be proud would be proud

ofof.”.” —Richard Branson

““People want to be part People want to be part of something larger of something larger

than themselves. They than themselves. They want to be part of want to be part of

something they’re really something they’re really proud of, that they’ll proud of, that they’ll

fight for, sacrifice for , fight for, sacrifice for , trust.”trust.”

—Howard Schultz, Starbucks (IBD/09.05)

EXCELLENCE. BY EXCELLENCE. BY

INVITATION.INVITATION.

“If I could have chosen not to tackle the IBM culture head-on, I probably wouldn’t

have. My bias coming in was toward strategy, analysis and measurement. In comparison, changing the attitude and behaviors of hundreds of thousands of

people is very, very hard. [Yet] I [Yet] I came to see in my came to see in my time at IBM that time at IBM that

culture isn’t just one culture isn’t just one aspect of the game—it aspect of the game—it isis the game.” the game.” —Lou Gerstner,

Who Says Elephants Can’t Dance

“In the end, management doesn’t

change culture. Management

invitesinvites the workforce itself to change the culture.”

—Lou Gerstner

EXCELLENCE.EXCELLENCE.ENTHUSIASM.ENTHUSIASM.

ENERGY. ENERGY. PASSION.PASSION.

““Before you can inspire Before you can inspire with emotion, you must be with emotion, you must be swamped with it yourself. swamped with it yourself. Before you can move their Before you can move their tears, your own must flow. tears, your own must flow.

To convince them, you To convince them, you must yourself believe.”must yourself believe.” —

Winston Churchill

““Nothing is so Nothing is so contagious as contagious as enthusiasm.”enthusiasm.”

—Samuel Taylor Coleridge

““Most important,Most important,

he he uppedupped the the energyenergy levellevel at at

Motorola.”Motorola.” —Fortune on Ed Zander/08.05


RELENTLESSNESS.RELENTLESSNESS.

RE-LENT-RE-LENT-LESS-LESS-NESSNESS

BLOOD-Y-BLOOD-Y-MIND-ED-MIND-ED-

NESSNESS

Bloodyminded: Unreasonably

stubborn

Source: The Random House Dictionary of the English Language

““Whenever anything is Whenever anything is being accomplished, I being accomplished, I

have learned, it is have learned, it is being done by a being done by a

monomaniac with a monomaniac with a mission.”mission.” —Peter Drucker

““It is no use It is no use saying ‘We are saying ‘We are doing our best.’doing our best.’ You have got to You have got to succeed in doing succeed in doing

what is what is necessary.”necessary.” —WSC


AGILITY.AGILITY.

““The most The most successful successful

people are those people are those who who

are good at plan are good at plan B.”B.”

—James Yorke, mathematician, on chaos theory, in The New Scientist


BEDROCK.BEDROCK.SELF-SELF-

MANAGEMENT.MANAGEMENT.

X.Step #1:Buy a Mirror!Buy a Mirror!

“The The FirstFirst stepstep in a in a ‘dramatic’ ‘dramatic’

‘organizational change ‘organizational change program’ is obvious—program’ is obvious—

dramaticdramatic personal personal changechange!”!” —RG

EXCELLENCE. EXCELLENCE. SHOWING UP.SHOWING UP.

MBWMBWAA

“You must bebe the change you

wish to see in the world.”

Gandhi

You = Your You = Your calendar*calendar*

*Calendars NEVERNEVER lie!!


STRETCH.STRETCH.

The greatest dangerThe greatest dangerfor most of usfor most of us

is not that our aim isis not that our aim istoo hightoo high

and we miss it,and we miss it,but that it isbut that it is

too lowtoo lowand we reach it.and we reach it.

Michelangelo

Kevin Roberts’ Credo

11. Ready. Fire! Aim.. Ready. Fire! Aim.2. If it ain’t broke ... Break it!2. If it ain’t broke ... Break it!3. Hire crazies.3. Hire crazies.4. Ask dumb questions.4. Ask dumb questions.5. Pursue failure.5. Pursue failure.6. Lead, follow ... or get out of the way!6. Lead, follow ... or get out of the way!7. Spread confusion.7. Spread confusion.8. Ditch your office.8. Ditch your office.9. Read odd stuff.9. Read odd stuff.

10. Avoid moderationAvoid moderation!!

EXCELLENCE. EXCELLENCE. THINK BIG.THINK BIG.

“Beware of the tyranny of making

Small Changes to Small

Things. Rather,

make BigBig Changes

to BigBig Things.”

—Roger Enrico, former Chairman, PepsiCo

No Wiggle Room!

“Incrementalism“Incrementalism is innovation’s is innovation’s

worstworst enemy.” enemy.” —Nicholas Negroponte

Five MYTHS About Changing Behavior

*Crisis is a powerful impetus for change*Change is motivated by fear*The facts will set us free

*Small, gradual changesSmall, gradual changes are always easier to are always easier to make and sustain make and sustain*We can’t change because our brains become “hardwired” early in life

Source: Fast Company


THE LEADERSHIP23.THE LEADERSHIP23.

Leadership23/ML

1. Enthusiasm. Energy. Exuberance.1. Enthusiasm. Energy. Exuberance.2. Action. Execution.2. Action. Execution.3. Tempo. Metabolism.3. Tempo. Metabolism.4. Relentless.4. Relentless.5. Master of Plan B.5. Master of Plan B.6. Accountability.6. Accountability.7. Meritocracy.7. Meritocracy.8. Leaders “do” people. Mentor. (“Success8. Leaders “do” people. Mentor. (“Success creation business.”)creation business.”)9. Women. Diversity.9. Women. Diversity.10. Integrity. Credibility. Humanity. Grace.10. Integrity. Credibility. Humanity. Grace.11. Realism.11. Realism.12. Cause. Adventures. Quests.12. Cause. Adventures. Quests.

Leadership23/ML

13. Legacy.13. Legacy.14. Best story wins.14. Best story wins.15. On the edge. (“Wildest chimera of a15. On the edge. (“Wildest chimera of a moonstruck mind.”)moonstruck mind.”)16. “Reward excellent failures. Punish 16. “Reward excellent failures. Punish mediocre successes.”mediocre successes.”17. Different > Better. (“Only ones who do17. Different > Better. (“Only ones who do what we do.”)what we do.”)18. MBWA. Customer MBWA.18. MBWA. Customer MBWA.19. Laughs.19. Laughs.20. Repot. Curiosity. Why?20. Repot. Curiosity. Why?21. You = Calendar. “To Don’t.” Two.21. You = Calendar. “To Don’t.” Two.22. Excellence. Always.22. Excellence. Always.23. Nelsonian! (“Other admirals more afraid23. Nelsonian! (“Other admirals more afraid of losing than anxious to win.”)of losing than anxious to win.”)

EnthusiasmEnthusiasmEnergyEnergy

ExuberanceExuberanceVoracious CuriosityVoracious Curiosity

Irritability/Dis-satisfactionIrritability/Dis-satisfactionRelentlessnessRelentlessnessSelf-relianceSelf-reliance

“Closer” (Execution)“Closer” (Execution)excellenceexcellence

EXEXCELLE CELLE ALWALWAYSAYS..

You only You only find oil if find oil if you drill you drill

wellswells.. —The Hunters, by John Masters,

Canadian O & G wildcatter

EXEXCELLE CELLE ALWALWAYSAYS..

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