fidelity boston 02-16-00. hen scratches @ 37,000 feet …
TRANSCRIPT
FidelityBoston
02-16-00
Hen scratches @ 37,000 feet …
Microsoft = R.O.W.
Microsoft > GM + Ford + Boeing + Lockheed Martin + Deere + Caterpillar + USX + Weyerhaeuser + Union Pacific + Kodak + Sears + Marriott + Safeway + KelloggSource: Business Week data through 5-99
Microsoft = R.O.W. (II)
Microsoft > GM + Ford Boeing + Lockheed
Martin + Deere + Caterpillar + USX + Weyerhaeuser + Union Pacific + Kodak + Sears + Marriott + Safeway + Kellogg
+ McDonald’s + Bank One + General Mills + American Airlines + United Airlines + + Delta Air Lines + US Airways + Quaker OatsSource: Yastrow Marketing (through 11-23-99)
“There is probably going to be more confusion in
the business world in the next decade than there has been in any decade
in history.”Steve Case (2-00)
No Wiggle Room!
“Incrementalism is innovation’s worst
enemy.” Nicholas Negroponte
Just Say No …
“I don’t intend to be known as the ‘King of the
Tinkerers.’ ”CEO, large financial services company
(New York, 5-99)
Brand Inside
PSF 1:Brand Org!
108 X 5vs.
8 X 1*
* 540 vs. 8
ERP, ECM, Web, Etc.
IT’S THE GIANT SUCKING SOUND
OF SLACK BEING EXTRACTED FROM
THE GLOBAL ECONOMY!
PSF 1.0
Professional Service Firm Conversion Kit /
Release 1.0
“support function” / “cost center” / “bureaucratic
drag”
or …
“Rock Stars of the ‘Age of Talent’ ”
Why are there no books on how to create
a “Cool, Rocking, WOW-producing
Finance Department”?
Brand Inside
PSF 2:Brand Work!
“Reward excellent failures. Punish
mediocre successes.”
Phil Daniels, Sydney exec
“You really got to me. So many of our information technology projects take on a life of their own, and I know they’ll never end up as more than ‘mediocre successes.’ ”
CEO, F100 financial services company (10-98)
E.g.: WOW Scale
1. … Dull as dishwater.
5. … Gets the job done.
7. … “Good work!”.
10. … A serious “Braggable”!
Kaiser: 4.15.29
Liberty Ship
2 years
240 days
9 hours
4 days, 15 hours, 29 minutes
WOW Project “Acid Test”
Can you explain it - with zest -
to your 14-year-old?
“Every project we take on starts with a question:
How can we do what’s never been done
before?”Stuart Hornery, CEO, Lend Lease
The greatest dangerfor most of us
is not that our aim istoo high
and we miss it,but that it is
too lowand we reach it.
Michelangelo
Epitaph from Hell …
Joe T. Jones
1942 - 2000
HE WOULDA DONE SOME
REALLY COOL STUFF
BUT …
HIS BOSS WOULDN’T LET HIM!
T.T.D./ Secret No. 1: Go horizontal: Find a (one!) “line” ally in “the Boonies”
Secret No. 2: “Powerless” allies are Cool!
Secret No. 3: Passion Rules!Secret No. 4: Become a Prototyping
Maniac! Secret No. 5: Embrace Politics /
“Community Organizing”!
Notes Page
• Main Idea: YOU ARE NOT “POWERLESS.” Seek out allies in strange places … and get going! DO NOT WASTE TIME “SELLING UP.”
• Attitude: You are the Gandhi/King of your “mission.”
• So: IDENTIFY THE FOLKS YOU WANT TO PLAY WITH RE THAT INCREDIBLY COOL IDEA YOU HAVE!
Culture of Prototyping
“Effective prototyping may be the most valuable core
competence an innovative organization can hope to
have.”
Michael Schrage
T.T.D./ Prototyper’s LawsDefine a small, practical test of something on a
page or less of text. Now.
Gather “found” materials … on the [very] cheap.
Find a/one partner-“customer” who’ll provide a test site.
Set a very tight deadline of about 5 days for the next concrete step.
Conduct the test! Debrief A.S.A.P.
Set the next test date. Now. [No more than 5 days hence.]
Notes Page
• The idea is to establish a “rhythm of prototyping” that defines every project.
K2K
Reference:
Rules for Radicals, Saul Alinsky
“It was much later that I realized Dad’s secret. He gained respect by giving it. He talked and listened to the fourth-
grade kids in Spring Valley who shined shoes the same way he talked and listened to a bishop or a college
president. He was seriously interested in who you were and what you had to
say.”
Sara Lawrence-Lightfoot, Respect
Brand Inside
PSF 3:Brand You!
DISTINCT … OR EXTINCT!
“If there is nothing very special about your work, no matter how hard you apply yourself, you won’t get noticed and that increasingly means you won’t get paid much, either.”
Michael Goldhaber, Wired
Personal “Brand Equity” Eval– I am known for [2 to 3 things]–My current Project is challenging me …–New things I’ve learned in the last 90 days
include …–My public “recognition program”
consists of …–Additions to my Rolodex include …
–My resume is discernibly different from last year’s at this time …
R.D.A.
Rate: 15%?, 25%?
Therefore: Formal “Investment
Strategy”/R.I.P.
Brand Inside
PSF 4:Brand Talent!
“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
“The boundaries for acceptable weirdness have
dramatically expanded.”
Michael Schrage
Axiom: Never hire anyone without an aberration in their
background. (Find the One Ton Cookie Man!)
Attributes of Those Who “Made” the 10th Grade History Book
–Committed!–Determined to make a difference!–Focused!–Passionate! –Irrational about their life’s project!–Ahead of their time / Paradigm
busters!–Impatient! / Action Obsessed
Attributes of Those Who “Made” the 10th Grade
History Book –Made lots of people mad!
–Flouted the chain of command!
–Creative / Quirky / Peculiar! / Rebels! / Irreverent!
–Masters of improv / Thrive on chaos / Exploit chaos!
Attributes of Those Who “Made” the 10th Grade History Book
–Forgiveness > Permission
–Bone honest!
–Flawed as the dickens!
– “In touch” with their followers’ aspirations
–Damn good at what they do!
“Conformity is the enemy of freedom
and the jailer of growth.”
J.F.K.
Brand Outside
Context:
No “Commodities”!
In the Beginning …
“The audit has become a commodity.”
Big 5 audit partner to TP
What’s Special?
“Customers will try ‘low cost providers’ because the Majors have not given them any clear
reason not to.”
Leading Insurance Industry
Analyst (10-98)
“We make over three new product announcements a
day. Can you remember them?
Our customers can’t!”Carly Fiorina
“The ‘surplus society’ has a surplus of similar companies, employing similar
people, with similar educational backgrounds, coming up with similar ideas, producing similar things, with similar prices and similar quality.”
Kjell Nordstrom and Jonas Ridderstrale, Funky Business
Brand Outside
Strategy 1:
Lead the Customer!
“The customer is a rear view mirror, not a guide to the future.”
George Colony, Forrester Research
“If you worship at the throne of the voice of the customer, you’ll get only
incremental advances.”Joseph Morone, President, Bentley College
Good = Bad/ 1 of 30,000
“We are crazy. We should do something when people say it is
‘crazy.’ If people say something is ‘good’, it
means someone else is already doing it.”
Hajime Mitarai, Canon
“Wealth in this new regime flows directly from innovation, not
optimization. That is, wealth is not gained by perfecting the known,
but by imperfectly seizing the unknown.”
Kevin Kelly, New Rules for the New Economy
Amen!
“The Age of the Never Satisfied
Customer”Regis McKenna
Brand Outside
Strategy 2:Master
E-Commerce!
$30,000,000. = ???
Dell’s Web sales … daily
Welcome to
D.I.Y. Nation!“Changes in business processes will emphasize self service. Your costs as
a business go down and
perceived service goes up because customers are conducting it
themselves.” Ray Lane, Oracle
Psych 101: Strongest Force on Earth?
My need to be in perceived control of
my universe!
Anne Busquet/ American Express
Not: “Age of the Internet”
Is: “Age of Customer Control”
“The Net hasn’t lived up to its hype. It’s a distant, cold, alien,
threatening world called ‘cyberspace.’ The challenge is to
make the Net into something intimate, warm, friendly, useful,
personal.”Carly Fiorina, CEO, HP @ Comdex ’99
“Where does the Internet rank in priority?
It’s No. 1, 2, 3, and 4.” Jack Welch
Brand Outside
Strategy 3:
Women Rule!
?????????
Home Furnishings … 94%Vacations … 92%
Houses … 91%Bank Account … 89%
Health Care … 75%New Investment Clubs … 10:1
48% working wives > 50%80% checks
61% bills43% > $500K
95% financial decisions/ 29% single handed
Women … 49% of Web users; 6 of 10 new users; 83% of wired women are primary decision makers for family healthcare,
finances, education.
Source: Business Week (11-99)
OPPORTUNITY
NO. 1!
Carol Gilligan/ In a Different Voice
Men: Get away from authority, familyWomen: Connect
Men: Self-orientedWomen: Other-oriented
Men: RightsWomen: Responsibilities
FemaleThink/ Popcorn
“Men and women don’t think the same way, don’t communicate the same
way, don’t buy for the same reasons.
“He simply wants the transaction to take place. She’s interested in creating a relationship. Every place women go,
they make connections.”
Women and Financial Advisors
Women want … a plan, to be listened to, to be taken seriously, to read about it, to think about it.
Women do not want … an in-your-face sales pitch
Source: Kathleen Boyle, Wheat Boyle Butcher Singer
Marketing to Women: Help Them Save Time!
80% … work86% … cook
58% … run errands with kids38% … take child to school
21% … go to the gym21% … take outside classes
Speaking of Enormous
Opportunities ...
74/55
“At each stage of their lives, the needs and desires of the baby
boomers have become the dominant concerns of American business and popular culture. If you can anticipate
the movement of the baby-boom generation’s life-span migration, you
can see the future.”Ken Dychtwald, Age Wave
Aging/“Elderly”
2X growth rate$$$$$$$$$$$$
“I’m in charge!”“Experiences” vs. Products
Good source: Ken Dychtwald, Age Wave
Brand Outside
Strategy 4:
It’s the Experience!
“Experiences are as distinct from services as services are from
goods.”Joseph Pine & James Gilmore, The
Experience Economy: Work Is Theater & Every Business a Stage
“The [Starbucks] Fix” Is on …
“We have identified a ‘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
Experience: “Rebel Lifestyle!”
“What we sell is the ability for a 43-year-old accountant to dress in black leather, ride through small towns and have people be afraid
of him.”
Harley exec, quoted in Results-based Leadership
Mantra: “Any good can be ing-ed”
the driving experiencethe pumping experience
the sitting experiencethe reading experiencethe washing experiencethe cooking experience
Joseph Pine & James Gilmore, The Experience Economy: Work Is Theater & Every Business a Stage
Brand Leadership
Lead Out Loud!
ENTHUSIASM RULES!
“I am a dispenser of enthusiasm.”/ Ben
Zander
“If you ask me what I have come to do in this world, I
who am an artist, I will reply, I am here to live my
life out loud.”Emile Zola
“If things seem under control, you’re just
not going fast enough.”
Mario Andretti