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Tom Peters’ RE-IMAGINE ! EXCELLENCE/2017 Washington Federal CEO Forum 09 December 2016

Tom Peters’ RE-IMAGINE ! EXCELLENCE/2017 Washington Federal CEO Forum 09 December 2016 (This presentation/10+ years of presentation slides at tompeters.com ; also see our annotated 23-part Monster-Master at excellencenow.com ). BE THE BEST: IT’S THE ONLY MARKET THAT’S NOT CROWDED.

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Tom Peters’ RE-IMAGINE ! EXCELLENCE/2017 Washington Federal CEO Forum 09 December 2016

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  1. Tom Peters’ RE-IMAGINE! EXCELLENCE/2017 Washington Federal CEO Forum 09 December 2016 (This presentation/10+ years of presentation slides at tompeters.com; also see our annotated 23-part Monster-Master at excellencenow.com)

  2. BE THE BEST: IT’S THE ONLY MARKET THAT’S NOT CROWDED

  3. AND THE WINNERS AREN’T/ARE

  4. “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“Mr. Foster and his McKinsey colleagues collected detailed performance data stretching back 40 years for1,000U.S. companies. They found thatNONEof the long-term survivors managed to outperform the market. Worse, the longer companies had been in the database, the worse they did.”—Financial Times

  5. AND THE WINNERS AREN’T/ARE

  6. Retail Superstars: Inside the 25 Best Independent Stores in America—by George Whalin

  7. JUNGLE JIM’S INTERNATIONAL MARKET, FAIRFIELD, OHIO:“An adventure in ‘shoppertainment’ [shopping + entertainment] begins in the parking lot and goes on to 1,600 cheeses and 1,400 varieties of hot sauce—not to mention 12,000 wines priced from $8-$8,000 /bottle; all this is brought to you by 4,000 vendors. Customers from every corner of the globe.” Award: “AMERICA’S BEST RESTROOM.” Source: George Whalin, Retail Superstars: Inside the 25 Best Independent Stores in America

  8. MITTELSTAND* *“agile creatures darting between the legs of the multinational monsters” (Bloomberg BusinessWeek)

  9. Baader (Iceland/80% fish-processing systems) Gallagher (NZ/electric fences) W.E.T. (heated car seat tech) Gerriets (theater curtains and stage equipment) Electro-Nite (sensors for the steel industry) Essel Propack (India/tooth paste tubes) SGS (product auditing and certification) DELO (specialty adhesives) Amorim (Portugal/cork products) EOS (laser sintering) Beluga (heavy-lift shipping) Omicron (tunnel-grid microscopy) Universo (wristwatch hands) Dickson Constant (technical textiles) O.C. Tanner (employee recognition/$400M) Hoeganaes (powder metallurgy supplies) Hidden Champions* of the 21st Century: Success Secrets of Unknown World Market Leaders/Hermann Simon (*1, 2, or 3 in world market; <$4B; low public awareness)

  10. Michael Raynor and Mumtaz Ahmed: THE THREE RULES: How Exceptional Companies Think*: 1.BETTER before cheaper. 2.REVENUE before cost. 3.There are no other rules. (*FIVE-YEAR PROJECT: From a database of over 25,000 companies from hundreds of industries covering 45 years, they uncovered 344 companies that qualified as statistically “exceptional”—then a final 27) Jeff Colvin, Fortune: “The Economy Is Scary … But Smart Companies Can Dominate”: They manage for VALUE—not for EPS. They get radically CUSTOMER-CENTRIC. They keep DEVELOPING HUMAN CAPITAL.

  11. The Metro Bank Model “Are you going to COSTCUT your way to prosperity?”(“Cost-cutting is a death spiral.”)Or …“Are you going to SPEND* your way to prosperity?”((“Our whole story is growing revenue.”) Source: Vernon Hill, Fans! Not Customers. How to Create Growth Companies in a No Growth World *Including 2,000,000+ dog biscuits/year

  12. The local plumber or electrician does not provide a “commodity service” … if he knows his job if he is learning new tricks all the time if he has a good disposition if he shows up on time if he is neatly dressed if he has s spiffy truck if he cleans up so that the Client could “eat off the floor” after he leaves if he volunteers to do a few tiny tasks outside the one at hand—gratis If he has glowing referrals from prior Clients by the bucketload If he has a high-utility Web site and maybe even goes so far as to create a blog with occasional posts featuring practical tips for his clientele—e.g., a tiny Virginia swimming pool company became a literal worldbeater adopting this social-media strategy

  13. Going “Social”: Location and Size Independent “Today, despite the fact that we’re just a little swimmingpool company in Virginia, we have the most trafficked swimming pool website in the world. Five years ago, if you’d asked me and my business partners what we do, the answer would have been simple, ‘We build in-ground fiberglass swimming pools.’ Now we say,‘We are the best teachers … in the world … on the subject of fiberglass swimming pools, and we also happen to build them.’” —Jay Baer, Youtility: Why Smart Marketing Is About Help, Not Hype

  14. “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

  15. SEVEN VALUE-ADDED STRATEGIES

  16. D-Day: 10 August 2011!

  17. Design RULES!APPLEmarket cap > Exxon Mobil**10 August 2011

  18. DESIGN IS THE FUNDAMENTALSOUL OF A MAN-MADE CREATION.”—Steve Jobs “He said for him the craft of building a boat was like a religion. It wasn’t enough to master the technical details of it.You had to give yourself up to it spiritually; you had to surrender yourself absolutely to it. When you were done and walked away,you had to feel that you had left a piece of yourself behind in you forever, a bit of your heart.” —On the world’s premier racing shell builder, George Yeoman Pocock, in Daniel Brown, THE BOYS IN THE BOAT: Nine Americans and Their Epic Quest for Gold at the 1936 Berlin Olympics

  19. Hypothesis: Men cannot design for women’s needs!!??

  20. Women Buy [Everything]

  21. Women Buy[Everything]!

  22. W > 2X (C + I) = $28 TRILLION “Forget CHINA, INDIA and the INTERNET: Economic Growth Is Driven by WOMEN.” Source: Headline, Economist

  23. Women as Decision Makers/Various sourcesHome Furnishings … 94%Vacations … 92%(Adventure Travel … 70%/ $55B travel equipment)Houses … 91%D.I.Y. (major “home projects”) … 80%Consumer Electronics … 51%(66% home computers) Cars … 68% (influence 90%)Allconsumer purchases … 83%*Bank Account … 89%Household investment decisions … 67%Small business loans/biz starts … 70%Health Care … 80%*In the USA women hold >50% managerial positions including >50% purchasing officer positions; hence women also make the majority of commercial purchasing decisions.

  24. “Women areTHEmajority market”—Fara Warner/The Power of the PurseWhat needs to change to take advantage of this?EVERYTHING:Product design, distribution, marketing, culture (Take the … “squint test.” )

  25. We[old folks] Have [all] the $$$$$$

  26. We[old folks]Have[all]]the$$$$$$

  27. 109M > 50:1 BOOMERturnsAGE 65every8 SECONDS forthe next20 YEARS 50@50:“PEOPLE TURNING 50 TODAY HAVE MORE THANHALF OF THEIR ADULT LIFE AHEAD OF THEM.”* Source; Bill Novelli, 50+: IGNITING A REVOLUTION TO REINVENT AMERICA (*The >50 7/13Rule.)

  28. “In 2009, households headed by adults ages 65 and older ... had 47times as much net wealth as the typical household headed by someone under 35 years of age. In 1984, this had been a less lopsided 10-to-1 ratio.” Source: Pew Research/10.11

  29. >50: 50% spending/10% marketing budgets44-65:“NEW CUSTOMER MAJORITY”Source: Ageless Marketing, David Wolfe & Robert Snyder

  30. Value-Added on Steroids: The [ENORMOUS][UBIQUITOUS] “Services Added” Opportunity

  31. “Rolls-Royce now earns MOREfrom tasks such as managing clients’ overall procurement strategies and maintaining aerospace engines it sells than it does from making them.” —Economist

  32. UPS to UPS: UPS = United Problem Solvers*** *Service Mark **Parcels to Services/Turnkey supply-chain management

  33. Distributor/“Middleman” to Systems Maestros* Systemic value-added strategists for total Client operations Integrated Systems Operators/Managers Systemic productivity and technology improvement strategy and management Systemic quality management Client employee training High value-added subcontractors/Full-scale partners for a myriad of Client needs—i.e., a de facto General Store, ready to do any damn thing the Client would like to have done And/or: WE’LL HELP YOU TAKE OUT THE GARBAGE IF YOU WISH! *Requisite: MEGA-Culture Change/ Professional Service Firm “model”

  34. Social Business/ Customer Engagement/ Customer Control/

  35. Welcome to the Age of Social Media “The customer is in completecontrol of communication.” “What used to be “word of mouth” is now “word of mouse.” You are either creating brand ambassadors or brand terrorists doing brand assassination.” “IT TAKES 20YEARS TO BUILDA REPUTATION AND 5MINUTESTO RUIN IT.” Source: John DiJulius, The Customer Service Revolution

  36. DO YOU TWEET? “I would rather engage in a Twitter conversation with a single customer than see our company attempt to attract the attention of millions in a coveted Super Bowl commercial.Why? Because having people discuss your brand directly with you, actually connecting one-to-one, is far more valuable—not to mention far cheaper!. … “Consumers want to discuss what they like, the companies they support, and the organizations and leaders they resent. They want a community. They want to be heard. “[I]f we engage employees, customers, and prospective Customers n meaningful dialogue about their lives, challenges, interests, and concerns, we can build a community of trust, loyalty, and—possibly over time —help them become advocates and champions for the brand.” —Peter Aceto, CEO,Tangerine(from the Foreword to A World Gone Social, by Ted Coine & Mark Babbit) (FYI: Also see Peter Aceto’s book Weology.)

  37. [BIG] Data = [BIG] $$$!

  38. “Caesars’ Entertainment have bet their future on harvestingpersonal data rather than developing the fanciest properties.”—Adam Tanner, What Stays in Vegas: The World of Personal Data—Lifeblood of Big Business—and the End of Privacy as We Know it

  39. IoT/ IoE Internet of Things Internet of Everything

  40. 2016: GE goes to Boston!

  41. 2025: 100,000,000,000,000

  42. THREE INNOVATION STRATEGIES

  43. INNOVATION I/Lesson50:WTTMSW

  44. WHOEVER TRIES THE MOST STUFF WINS

  45. READY.FIRE!AIM.H. Ross Perot (vs “Aim! Aim! Aim!”/EDS vs GM/1985)

  46. “What really matters is that companies that don’t continue to experiment— COMPANIES THAT DON’T EMBRACEFAILURE — eventually get in a desperate position, where the only thing they can do is make a ‘Hail Mary’ bet at the end.”—Jeff Bezos

  47. WTTMSASTMSUTFW

  48. WHOEVER TRIES THE MOST STUFF AND SCREWS THE MOST STUFF UP THE FASTEST WINS

  49. REQUISITE: A “TRY IT” “CULTURE”“You can’t be a serious innovator unless and until you are ready, willing and able to seriously play.‘Serious play’is not an oxymoron; it is the essence of innovation.”—Michael Schrage,Serious Play

  50. Major Innovations Cost Major $$. NOT. Big(ger) carts = 1.5X = $$$$$$$$ Source: Walmart

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