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Conrad Hilton …. LONG VERSION Tom Peters’ Excellence! Re-Imagine! Mexicana de Distribuidores de Medicinas Cancun/14 July 2012 (slides @ tompeters.com and excellencenow.com). 1.
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LONG VERSION Tom Peters’ Excellence! Re-Imagine! Mexicana de Distribuidores de Medicinas Cancun/14 July 2012 (slides @ tompeters.com and excellencenow.com)
ConradHilton, at a gala celebrating his career, was called to the podium and asked,“What were the most important lessons you learned in your long and distinguished career?”His answer …
“Costco figured out the big,simple things and executedwith total fanaticism.”—Charles Munger, Berkshire Hathaway
“In real life, strategy is actually very straightforward. Pick a general direction … andimplementlikehell.”—Jack Welch
WOW!!Observed closely: The use of“I”or“we”during a job interview. Source: Leonard Berry & Kent Seltman, chapter 6, “Hiring for Values,” Management Lessons From Mayo Clinic
Excellence1982: The Bedrock “Eight Basics” 1. A Bias for Action 2. Close to the Customer 3. Autonomy and Entrepreneurship 4. Productivity Through People 5. Hands On, Value-Driven 6. Stick to the Knitting 7. Simple Form, Lean Staff 8. Simultaneous Loose-Tight Properties”
“Breakthrough” 82* People! Customers! Action! Values! *In Search of Excellence
Why in the World did you go to Siberia?
Enterprise* (*at its best):An emotional, vital, innovative, joyful, creative, entrepreneurial endeavor that elicits maximum concerted human potential in the wholehearted pursuit of EXCELLENCE inservice of others.****Employees, Customers, Suppliers, Communities, Owners, Temporary partners
Organizations exist to serve. Period. Leaders live to serve. Period.
Paul Omerod: “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 …
“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
“Mr. Foster and his McKinsey colleagues collected detailed performance data stretching back 40 years for 1,000 U.S. companies.They found that noneof the long-term survivors managed to outperform the market. Worse, the longer companies had been in the database, the worse they did.” —Financial Times
“Not a single company that qualified as having made a sustained transformation ignited its leap with a big acquisition or merger.Moreover, comparison companies—those that failed to make a leap or, if they did, failed to sustain it—often tried to make themselves great with a big acquisition or merger. They failed to grasp the simple truth that while you can buy your way to growth, you cannot buy your way to greatness.”—Jim Collins/Time
“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
MittELstand* ** *“agile creatures darting between the legs of the multinational monsters”(Bloomberg BusinessWeek) **E.g. Goldmann Produktion
“Be the best. It’s the only market that’s not crowded.” From: Retail Superstars: Inside the 25 Best Independent Stores in America, George Whalin
Jungle Jim’s International Market, Fairfield, Ohio: “An adventure in ‘shoppertainment,’as Jungle Jim’s calls it, begins in the parking lot and goes on to 1,600 cheeses and, yes, 1,400 varieties of hot sauce —not to mention 12,000 wines priced from $8 to $8,000 a bottle; all this is brought to you by 4,000 vendors. Customers come from every corner of the globe.” Bronner’s Christmas Wonderland, Frankenmuth, Michigan, pop 5,000:98,000-square-foot “shop” features the likes of 6,000 Christmas ornaments, 50,000 trims, and anything else you can name if it pertains to Christmas. Source: George Whalin, Retail Superstars
Retail Superstars: Inside the 25 Best Independent Stores in America—by George Whalin
Small Giants: Companies That Choose to Be Great Instead of Big
Small Giants: Companies that Chose to Be Great Instead of Big (Bo Burlingham) “They cultivated exceptionally intimate relationships with customers and suppliers, based on personal contact, one-on-one interaction, and mutual commitment to delivering on promises. “Each company had an extraordinarily intimate relationship with the local city, town, or countyin which it did business —a relationship that went well beyond the usual concept of `giving back.’ “The companies had what struck me asunusually intimate workplaces. “I noticed thepassionthat the leaders brought to what the company did.They loved the subject matter, whether it be music, safety lighting, food, special effects, constant torque hinges, beer, records storage, construction, dining, or fashion.”
Whoever Tries The Most Stuff Wins
Whoever Tries The Most Things The Fastest Wins
READY.FIRE!AIM.Ross Perot (vs “Aim! Aim! Aim!” /EDS vs GM/1985)
“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#5.By the time our rivals are ready with wires and screws, we are on version #10.It gets back to planning versus acting: We act from day one; others plan how toplan—for months.”—Bloomberg by Bloomberg
“We have a ‘strategic plan.’ It’s called doing things.”— Herb Kelleher
“In business, you reward people for taking risks. When it doesn’tworkout you promote them-because they were willing to try new things. If people tell me they skied all day and never fell down, I tell them to trya different mountain.”—Michael Bloomberg (BW/0625.07)
“You miss 100% of the shots you never take.”—WayneGretzky
On NELSON:“[other] admirals more frightened of losing than anxious to win”
The “Hang Out Axiom I”: We are What We Eat/We Are the company we keep
“You will become like the five people you associate with the most—this can be either a blessing or a curse.”—Billy Cox
The “We are what we eat” axiom:At its core, every (!!!) relationship-partnership decision (employee, vendor, customer, etc) is a strategic decision about:“Innovate, ‘Yes’ or ‘No’ ”
Measure “Strangeness”/Portfolio QualityStaffConsultantsVendorsOut-sourcing Partners (#, Quality)Innovation Alliance PartnersCustomersCompetitors (who we “benchmark” against)Strategic Initiatives Product Portfolio (LineEx v. Leap)IS/IT ProjectsHQ LocationLunch MatesLanguageBoard
“[CEO A.G.] Lafley has shifted P&G’sfocus on inventing all its own products to developingothers’ inventions at least half the time.One successful example, Mr. Clean Magic Eraser, based on a product found in an Osaka market.”—Fortune
“Who’s the most interesting person you’ve met in the last 90 days? How do I get in touch with them?”—Fred Smith
