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Welcome to Tom Peters “PowerPoint World”! Beyond the set of slides here, you will find at tompeters.com the last eight years of presentations, a basketful of “Special Presentations,” and, above all, Tom’s constantly updatedMaster Presentation—from which most of the slides in this presentation are drawn. There are about 3,500 slides in the 7-part “Master Presentation.” The first five “chapters” constitute the main argument: Part I is context. Part II is devoted entirely to innovation—the sine qua non, as perhaps never before, of survival. In earlier incarnations of the “master,” “innovation” “stuff” was scattered throughout the presentation—now it is front and center and a stand-alone. Part III is a variation on the innovation theme—but it is organized to examine the imperative (for most everyone in the developed-emerging world) of an ultra high value-added strategy. A “value-added ladder” (the “ladder” configuration lifted with gratitude from Joe Pine and Jim Gilmore’s Experience Economy) lays out a specific logic for necessarily leaving commodity-like goods and services in the dust. Part IV argues that in this age of “micro-marketing” there are two macro-markets of astounding size that are dramatically under-attended by all but a few; namely women and boomers-geezers. Part V underpins the overall argument with the necessary bedrock—Talent, with brief consideration of Education & Healthcare. Part VI examines Leadership for turbulent times from several angles. Part VII is a collection of a dozen Lists—such as Tom’s “Irreducible 209,” 209 “things I’ve learned along the way.” Enjoy! Download! “Steal”—that’s the whole point!
NOTE:To appreciate this presentation [and ensure that it is not a mess], you need Microsoft fonts:“Showcard Gothic,”“Ravie,”“Chiller”and“Verdana”
Tom Peters’EXCELLENCE. PNC Financial Services Group22 January 2008/Pittsburgh
Conrad Hilton, at a gala celebrating his life, was asked, “What was the most important lesson you’ve learned in you long and distinguished career?” His immediate answer: “remember to tuck the shower curtain inside the bathtub”
“It suddenly occurred to me that in the space of two or three hours he nevertalked about cars.”—Les Wexner
Headline, page 1, Boston Globe, 20 January 2008: “Broker's Clients Detail Web of Dashed Dreams” “When Marcia Neilson couldn't qualify for a home loan in early 2006 because of poor credit, her mortgage broker, Nicole Lyder, had an unusual solution: Add Neilson's daughter to the loan application. “Neilson's 21-year-old daughter had just lost her job, but Lyder remained undeterred. ‘That wasn't a problem,’ Neilson recalled her broker saying. “Neilson's real estate agent said Lyder enlisted him to drive Neilson and her daughter to Brockton City Hall. The pair filled out a business certificate that claimed they owned a hair salon in Brockton. “The Neilsons qualified for a mortgage and bought a Dorchester house in June 2006 for $565,000. Last fall, Marcia Neilson learned from state investigators looking into Lyder's business practices that her loan application was padded in other ways: a statement for a $25,000 bank account in Neilson's name that she had no knowledge of. “Fake documents, a phantom borrower, and other irregularities were common features of five subprime mortgages brokered by Lyder between November 2005 and June 2006 that were examined by the Boston Globe. Lyder's clients ranged from the barely employed to struggling working-class couples; one had just left a homeless shelter and two others gave up government-subsidized housing to buy homes. They said Lyder arranged loans that they later realized had monthly payments that far exceeded their means. All five loans are now in foreclosure.”
Wall Street Journal, 22 January 2008:"Our fourth quarter results were severely impacted by ongoing dislocations in capital markets and the slowing economy," said Kenneth D. Lewis, [Bank of America] chairman and chief executive officer. "However, we are cautiously optimistic about 2008 …." TP translation:“We made total asses of ourselves, allowing ourselves to be conned by a bunch of out-of-touch Nobel-winning ‘economists’ with their ‘portfolio-risk smoothing models.’ Then, as inevitably happens amidst the madness of crowds of executives bent upon ‘keeping up with the Joneses,’ we were flattened by that silly old saw, ‘That which goes up eventually comes down.’ Wow, talk about ‘What they didn’t teach us at the Harvard Business School’! Truth is, we all ought to be put in stocks where people can throw rotten tomatoes at us—they’ll have lots of time to do that given expected unemployment #s that we have wittingly facilitated. Meanwhile, I wish the very best to Angelo Mozilo, Countrywide CEO & Subprime Principal Perp, as he ponders how to spend the $112,000,000 I’m helping him pocket, obtained by shafting hundreds of thousands innocents using sales ‘incentive’ schemes which make the numbers racketeers on the streets look squeaky clean by comparison. As to my ‘cautiously optimistic for 2008,’ what the hell else do you expect me to say? If I told the truth, you’d string me up even higher.”
1982/Default Latin America = 200 years[Total historical earnings] The Black Swan: The Impact of the Highly Improbable, Nassim Nicholas Taleb
“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 none of the long-term survivors managed to outperform the market. Worse, the longer companies had been in the database, the worse they did.” —Financial Times
“Forbes100” from 1917 to 1987:39members of the Class of ’17 were alive in ’87; 18 in ’87 F100; 18 F100 “survivors” significantly underperformed the market; just 2 (2%), GE & Kodak, outperformed the market from 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
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 wholeheartedservice of others.****Employees, Customers, Suppliers, Communities, Owners, Temporary partners
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
Hard Is Soft (Plans, #s)Soft Is Hard (people, customers, values, relationships))
“Courtesies of a small and trivial character are the ones which strike deepest in the grateful and appreciating heart.”—Henry Clay
Fred Reichheld’sThe Ultimate Question: Customer satisfaction is best measured* by one simple question,“how likely are you to recommend ______ to a friend?” * “Net Promoter Score”
ExIn*: 1982-2002/Forbes.comDJIA: $10,000 yields$85,000EI: $10,000 yields$140,050*Forbes/Excellence Index/Basket of 32 publicly traded stocks
Excellence 2007. Organizations exist to serve. Period. Leaders live to serve. Period. Peter Drucker Tribute/September 2007
“I have always believed that the purpose of the corporation is to be a blessing to the employees.”—Boyd Clarke
“What would happen if we looked at a customer and saw the face of God in them? To most people it sounds like a lofty idea. But if you see the face of God in a flower, why wouldn’t you see it in the face of a customer? If we treated customers and honored the God within them—if we loved them—we would not need a ‘quality program.’”—Lance Secretan, founder of Manpower, Inc., and most recently author of One: The Art and Practice of Conscious Leadership
Organizations exist to serve. Period. Leaders live to serve. Period.
… no less than Cathedrals in which the full and awesome power of the Imagination and Spirit and native Entrepreneurial flairof diverse individualsis unleashed in passionate pursuit of … Excellence.
Cause(worthy of commitment)Space(room for/encouragement for initiative)Decency(respect, humane)
The Manager’s Book of Decencies: How Small /gestures Build Great Companies.—Steve Harrison, Adecco
Cause(worthy of commitment)Space(room for/encouragement for initiative-adventures) Decency(respect, grace, integrity, humane)service (worthy of our clients’ & extended family’s continuing custom)excellence (period)
Cause(worthy of commitment)Space(room for/encouragement for initiative-adventures) Decency(respect, grace, integrity, humane)service (worthy of our clients’ & extended family’s continuing custom)excellence (period) servant leadership
Our MissionTo develop and manage talent;to apply that talent,throughout the world, for the benefit of clients;to do so in partnership; to do so with profit.WPP
*Basement Systems Inc.*Larry Janesky*Dry Basement Science(115,000!)*1993: $0; 2003: $12M; 2006: $50,000,000+
Jim’s Mowing Canada Jim’s Mowing UK Jim’s Antennas Jim’s Bookkeeping Jim’s Building Maintenance Jim’s Carpet Cleaning Jim’s Car Cleaning Jim’s Computer Services Jim’s Dog Wash Jim’s Driving School Jim’s Fencing Jim’s Floors Jim’s Painting Jim’s Paving Jim’s Pergolas [gazebos] Jim’s Pool Care Jim’s Pressure Cleaning Jim’s Roofing Jim’s Security Doors Jim’s Trees Jim’s Window Cleaning Jim’s Windscreens Note: Download, free, Jim Penman’s book: What Will They Franchise Next? The Story of Jim’s Group
*Lived in same town all adult life*First generation that’s wealthy/no parental support*“Don’t look like millionaires, don’tdress like millionaires, don’t eat likemillionaires, don’t act like millionaires”*“Many of the types of businesses [they] are in could be classified as ‘dull-normal.’ [They] are welding contractors, auctioneers, scrap-metal dealers, lessors of portable toilets, dry cleaners, re-builders of diesel engines, paving contractors …”Source: The Millionaire Next Door, Thomas Stanley & William Danko
