The Challenge: To Create More Value in All Negotiations

The Challenge: To Create More Value in All Negotiations

EXECUTION* (*The all important last 95%.) This is the before I begin sectionit is the subject of Chapter #1 in

The Excellence Dividend. And a topic that I insist not be taken for granted and treated as a given. CONRAD HILTON, at a gala celebrating his extraordinary career, was called to the What were the most important lessons you learned in your long and

distinguished career? His answer podium and asked, Remember to tuck the shower curtain inside the bathtub.

In the hotel business, location location location (and a great architect and a glitz marketing campaign) matter, they entice me through the door but its the tucked-in shower curtain that brings me back and induces me to recommend your home-away-from-home to my live and social media friends. And as businesspeople know so well, you lose money on the 1st transaction and roll in the $$$ on #18, #19, #20 and via that vital word of mouth/mouse. (And what holds for hotels holds, well, universally.) (And of course, anticipating my coming, intense riff on

people [REALLY] first, this elevates enormously the attention, love, and care we should shower upon our cadre of shower-curtain-tuckers! ) (NOTE: I thrive on tailoring my presentations. With one exception. The tucked-in shower curtain has come 1st in every presentation Ive given in the last half dozen years!) COSTCO FIGURED OUT BIG, SIMPLE THINGS

THE AND EXECUTED WITH TOTAL FANATICISM. Charles Munger, Berkshire Hathaway As so many have said before theres nothing more difficult than keeping it

simple, especially when a company reaches critial (bureaucratic) mass. It requires constant, proactive vigilance to keep the fangs of complexification from sinking into the veins of the organization. (Costco has in the main pulled off growth without loss of focus. BRAVO.) EXECUTION

IS THE JOB OF THE BUSINESS LEADER. Larry Bossidy & Ram Charan/Execution: The Discipline of Getting Things Done Larry Bossidy, former GE vice-chairman and then CEO of Allied, may have written the 1 st book with the simple title EXECUTION. Why 10,000 books on accounting or marketing and ONE on EXECUTION?

God alone knows. I surely dont. The point of the previous slide, from Execution: Execution isnt the grunt work to be overseen by othersa culture of execution-accountability starts at the tippy top, and must be the relentless, visible concern of the CEO and her/his top lieutenants. (FYI: Bossidys book is superb! ) IS

EXECUTION STRATEGY. Fred Malek Fred, a very successful entrepreneur also committed to public service, was my boss at the White House/OMB in 1973-74. He was an execution nutand passed his fiery passion along to me and many others. Amateurs talk

about strategy. Professionals talk about logistics. General Omar Bradley, commander of American troops/D-Day ! Amen THE IRON LAW OF EXECUTION

When you talk all the time about execution, its likely to happen. When you dont, it doesnt. Q: Could it be this simple? A: To a significant degree, yes. Could it be this simple? A: To a significant degree, yes. Q:

This in fact translates into a practical action item; and starts today. Monitor and assess your conversations and meetings: Is the execution/implementation/who-what-whennext milestones discussion front and center and dominant and committed to paper and re-iterated more or less immediately in followup written communications? Tom Peters The Excellence

Dividend: Meeting the Tech Tide With Work That Wows and Jobs That Last Derived from: Columbus 2020/12 April 2018 (ANNOTATED) Given/Axiomatic THERE IS NO EXCUSE FOR NOT MAKING ANY ORGANIZATION OF ANY SIZE IN ANY BUSINESS A



(*May the Costslashingaddicts Roast in Hell ) Commerce Bank/Metro Bank: We want them in our stores. 7X. 7:30A-8:00P. Fri/12A. 7:30AM = 7:15AM. 8:00PM = 8:15PM.

Fans! Not Customers: How to Create Growth Companies in a No Growth World Source: Vernon Hill, Most banks are closing retail branches and dumping thousands on the street in an effort to pursue efficiencies to the last penny. But Commerce Bank/Metro Bank wants customers IN

the stores, as they call branches, where founder Vernon Hill and his peppy crew can Wow them and turn them into Fans. One helpful device: Long/longer/longest hours!

YESBANK: When we had a processing problem with MasterCard, it came to our attention that a customer couldnt pay for their airline SHE PUT THE CUSTOMERS FLIGHTS ON HER PERSONAL CREDIT CARD SO THAT THE CUSTOMER COULD STILL TAKE

ADVANTAGE OF A [time-sensitive] GOOD DEAL, and laterwith their permission, of flights. A Metro Bank team member stepped in. course transferred the money from their account. Source: Fans! Not Customers. How to Create Growth Companies in a No Growth World, Vernon Hill ! Yesbank defined

2,0000,00 0 Commerce/Metro is dog friendly to the hilt. Here I am with founder Vernon Hill and the banks mascotSir Duffield. (He was Duffy in the USA.) The annual report sometime back offered up the 2,000,000 statisticthe dog biscuit giveaway count that year.

As to the 17,000 well thats the number of jobs Commerce/Metro has created! (FYI: Commerce was the U.S. incarnation of the bank. Hill sold the customer-friendly outfit to TD Bank for $8.6 billion. He subsequently opened Metro in the UK and is repeating his U.S. success.) The Commerce Bank/Metro Bank Model COST CUTTING IS A DEATH SPIRAL.


This slide captures the contrarian Commerce Bank/Metro Bank philosophyI make this philosophy/credo/strategy a centerpiece of The Excellence Dividend, introducing it in the Preface. Standing out via turned on people in colorful, welcoming facilities who convert customers into Fans with the YESBANK approach at Commerce/Metro tops the breathless pursuit of the last ounce of efficiencyit is indeed a contrarian message circa 2018. (And a message

Im pushing with every ounce of energy I possess! And relevant to every nook and every cranny of the economy.) The Excellence Dividend The human touch can prevail circa 2018 Commerce-Metro Bank:

Commerce Bank/Metro Bank have flown in the face of conventional wisdomand pulled off an incredible victory over establishment thinking. Commerce/Metro have availed themselves of the best technologybut have used it to enhance a personalized/humanized customer experience rather than reduce such an experience to a mechanical act. (Recall, for example, the YESBANK! Credit card experience.) I have chosen Commerce/Metro as lead story in The Excellence Dividend because it illustrates

what is possiblein a way that increases employment in a high-tech industry and creates lasting fans in an arena (retail small-business banking) where such an act would be considered by many/most to be nigh on impossible. (I firmly believe that the Commerce/Metro approach is widely applicablyvery widely!) 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. (*5-year study/Deloitte: From a database of over 25,000 companies from hundreds of industries covering 45 years, the authors uncovered 344 companies that qualified as statistically exceptional, and finally winnowed the list to 27 firms, including Thomas & Betts, Weis Markets, Hartland Express.) Jeff Colvin, Fortune: The Economy Is Scary But Smart Companies Can Dominate

They manage for valuenot for EPS. They get radically customer-centric. They keep developing human capital. (Colvin covers management for Fortune.) Powerful confirmation of Mr. Hills Commerce/ Metro mantra the 5-year Deloitte study is remarkable for its thoroughness.

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 The Giants underperform. The Giants treat efficiency as Holy Writ. The Giants cut jobs. (There is a ton of evidence to support this

hypothesis in the book.) Vernon Hill Commerce Bank/Metro Bank Larry Janesky Basement Systems Inc. Jim Penman Jims Group

Jungle Jim Boniminio Jungle Jims International Market L-O-V-E I SMEs. They create the jobs and are responsible for most innovation. My books dedication includes four of my favorite SME chiefs, starting with Vernon Hill. Next up

*Basement Systems Inc. (Larry Janesky/Seymour CT) *Dry Basement Science (100,000++ copies!) *1990: $0; 2003: $13M; 2017: $120,000,000 I especially love SMEs in industries others most likely would call boring. Drying out

basements? Well, that gives you a great storage space or extra bedroom or family room. (Which is a pretty big deal.) And its given Larry Janesky a $120 million All things basementy he calls it. business. Jims Mowing Canada Jims Mowing UK Jims Antennas

Jims Bookkeeping Jims Building Maintenance Jims Carpet Cleaning Jims Car Cleaning Jims Computer Services Jims Dog Wash Jims Driving School Jims Fencing Jims Floors Jims Painting Jims Paving

Jims Pergolas [gazebos] Jims Pool Care Jims Pressure Cleaning Jims Roofing Jims Security Doors Jims Trees Jims Window Cleaning Jims Windscreens Source: Jim Penman, What Will They Franchise Next? The Story of Jims Group

Jim Penman thrives on routine-ish tasks that others dont like to do. He started by mowing lawns as a grad studentand subsequently has birthed about 3,000 franchises along the way doing any damn thing you can imagine and then some. Maybe boring to youbut Jims Group is as good (and exciting) as it gets for me! Retail Superstars: Inside the 25 Best Independent

Stores in America by George Whalin The title speaks for itself. Folks whove stayed independent, taken on the big box crowdand succeeded almost beyond measure. (God alone knows how many copies of this book Ive given away. 50? 100? More?? It consists of 25 case studies of imagination

on steroidsI give it to accountants and HR folks as much as to SME owners.) JUNGLE JIMS INTERNATIONAL MARKET, FAIRFIELD, OH An adventure in shoppertainment, parking lot and goes on to 1,400 wines priced from

1,600 begins in the cheeses and varieties of hot saucenot to mention 12,000 $8-$8,000 a bottle; all

this is brought to you by 4,000 vendors. Customers from every corner of the globe. Jungle Jim Boniminio.

BETTTER THAN A BALDRIGE! JUNGLE JIMS/Shoppertainment: The props can also be a bit bizarre. Two mens and womens Porta Potties situated in the front area of the store look as though they belong on a construction site rather than in a food store. But they are false fronts, and once through the doors, customers find themselves in beautifully appointed restrooms. These creative facilities were recognized as AMERICAS BEST RESTROOM

in the Sixth Annual competition sponsored by Cintas Corporation, a supplier of restroom cleaning and hygiene products. I am NOT kidding. There is no award Id rather win than Americas Best Restroom. It amounts to a gigantic billboard that shouts: WE CARE! BE THE BEST.

ITS THE ONLY MARKET THATS NOT CROWDED. From: Retail Superstars: Inside the 25 Best Independent Stores in America, George Whalin SME territory, businesses from 4 people to 444 people or more. Anywhere. Any business. (Per me: the more boring the better. [More or less.])

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 COUNTY in which it did business a relationship that went well beyond the usual concept of `giving back. The companies had what struck me as UNUSUALLY

INTIMATE WORKPLACES. I noticed the PASSION that 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. More confirmation of SME magic in Bo Burlinghams peerless book. Note the Companies That Chose to Be Great

Instead of Big powerful subtitle: Tom Peters The Excellence Dividend: Meeting the Tech Tide With Work That Wows and Jobs That Last Putting People (R-E-A-L-L-Y) First

Columbus 2020! 12 April 2018 Now lets get down to the people stuff ... BUSINESS HAS TO GIVE PEOPLE ENRICHING, REWARDING LIVES OR ITS SIMPLY NOT WORTH DOING. 1/4,096) Richard Branson (

[Business has the] responsibility to increase the sum of human well-being. Mihaly Csikszentmihalyi, Good Business Business was originated to produce happiness, not pile up millions. Read. (Please.) Reflect. (Please.) I pulled everything together into a 17-chapter, 4,096slide PP a couple of years ago. Something had to be Slide #1 (of 4,096!). The Branson quote took pride of

place. As I said, read and re-read (re-re-re-read or- its-simply-not-worth-doing) & reflect. (PLEASE.) Re the Csikszentmihalyi quote (hes the father of flow), business is NOT part of the community. Business IS the communityi.e., where most adults spend most of their waking hours. Hence, the overall responsibility of business is staggering.

(As to Mr. Forbes, some comment [happiness > profit] from the #1 capitalist tool. Really really reflect on this one!) People (REALLY*) First

*Damn it! What employees experience, Customers will. The best marketing is happy, engaged employees. YOUR CUSTOMERS WILL NEVER BE ANY HAPPIER THAN YOUR EMPLOYEES. John DiJulius, The Customer Service Revolution IF YOU WANT STAFF TO GIVE

GREAT SERVICE, GIVE GREAT SERVICE TO STAFF. Ari Weinzweig, Zingermans (Bo Burlingham, Small Giants: Companies That Choose to Be GreatInstead of Big) So damned obvious. So damned often honored in the breach. Why? Why? Why?*

(*I honestly dont know.) EXCELLENT customer experience depends entirely on EXCELLENT employee experience! If you want to WOW your FIRST customers,

you must WOW those who WOW the customers! So damned obvious. So damned often honored in the breach. Why???? Why????? Why?????? Whos on Second?

Nobody comes home after a surgery saying, Man, that was the best suturing Ive ever seen! or Sweet, Instead, we talk about the people who took care of us, the ones who co-ordinated the whole procedureeveryone from the receptionist to the nurses to the surgeon. And we dont just tell stories around the they took out the correct kidney!

dinner table. We share our experiences through conversations with friends and colleagues and via social media sites. from the chapter What Does Come First? Patients Come Second: Leading Change By Changing the Way You Lead by Paul Spiegelman & Britt Berrett in the book FIRST YOU MUST TAKE CARE OF

THE PEOPLE WHO TAKE CARE OF THE PATIENTS! Patients second. The path to a HOSTMANSHIP culture paradoxically does not go through the guest. In fact it wouldnt be totally wrong to say that the guest has nothing to do with it. True hostmanship leaders focus on their

employees. What drives exceptionalism is finding the right people and getting them to love their work and see it as a passion. ... The guest comes into the picture only when you are ready to ask, Would you prefer to stay at a hotel where the staff love their work or where management has made customers its highest priority? We went through the hotel and made CONSIDERATION RENOVATION. Instead of redoing a ...

bathrooms, dining rooms, and guest rooms, we gave employees new uniforms, bought flowers and fruit, and changed colors. Our focus was totally on the staff. They were the ones we wanted to make happy. We wanted them to wake up every morning excited about a new day at work. Jan Gunnarsson/Olle Blohm, Hostmanship: The Art of Making People Feel Welcome The guest comes into the picture only when you are ready to ask, Would

you prefer to stay at a hotel where the staff love their work or where management has made customers its highest priority? Putting People (REALLY) First: HOSTING OUR EMPLOYEES. CONSIDERATION RENOVATION!! )

(And I l-o-v-e 7/12: 1996-2014/Twelve companies have been among the 100 best to work for in the USA every year, for all 16 years of the lists existence; along the way, theyve added 341,567 new jobs, or job growth of +172%: Publix Whole Foods Wegmans

Nordstrom Cisco Systems Marriott REI Goldman Sachs Four Seasons SAS Institute W.L. Gore TDIndustries

Source: Fortune/ The 100 Best Companies to Work For/0315.15 Only 12 firms appeared on the Fortune best companies to work for list 18 years running. The stunner [for me, anyway]: 7 of the 12 [e.g., Publix, Wegmans, Marriott], over half, are in industries, like groceries and hospitality, where wages are typically low and turnover sky highplaces where you cant do all this high-minded people stuff. This is strong evidence that clearly says:

IT DAMN WELL CAN BE DONE/ANYWHERE. 7/12: [Only] ONE THING IN COMMON They take generous care of their part-timers.

At some of the companies on the list, the share of part-timers is low. But among the seven (of twelve) that are in industries like hotels and retail, the numbers are sky high. Whole Foods, for example, has 27,000 part-timers, Nordstrom has 30,000 and Publix has a staggering 100,000. The most important commonality among the twelve is that they all offer part-timers healthcare benefits. And most give parttimers paid time off for sick days, holidays, etc. Nordstrom parttimers, for example, have 19 paid days off, Marriotts have 18 paid days off, and REIs have 12. Other examples of treating part-timers as

full-time members of the family include Publixs (again) policy of making part-timers eligible for employee stock ownership plans that fund retirement savings. Source: Fortune/ The 100 Best Companies to Work For/0315.15 Another stunner. The oneand onlything the Big Twelve had in common was TERRIFIC BENEFITS FOR PARTTIMERS. And in Publix case, for example,

that adds up to 100,000 part-timers with ! great benefits (Suggest you re-read the slide about a zillion timesuntil it sinks in. Cant be done? CAN BE DONE.) Profit Through Putting People First Business Book Club Nice Companies Finish First: Why Cutthroat Management Is Overand Collaboration Is In,

by Peter Shankman with Karen Kelly Uncontainable: How Passion, Commitment, and Conscious Capitalism Built a Business Where Everyone Thrives, by Kip Tindell, CEO Container Store Conscious Capitalism: Liberating the Heroic Spirit of Business, by John Mackey, CEO Whole Foods, and Raj Sisodia Firms of Endearment: How World-Class Companies Profit from Passion and Purpose, by Raj Sisodia, Jag Sheth, and David Wolfe The Good Jobs Strategy: How the Smartest Companies Invest in Employees to Lower Costs and Boost Profits, by Zeynep Ton, MIT Joy, Inc.: How We Built a Workplace People Love, by Richard Sheridan, CEO Menlo Innovations

Employees First, Customers Second: Turning Conventional Management Upside Down, by Vineet Nayar, CEO, HCL Technologies Patients Come Second: Leading Change By Changing the Way You Lead by Paul Spiegelman & Britt Berrett The Customer Comes Second: Put Your People First and Watch Em Kick Butt, by Hal Rosenbluth, former CEO, Rosenbluth International Its Your Ship: Management Techniques from the Best Damn Ship in the Navy, by Mike Abrashoff, former commander, USS Benfold Turn This Ship Around; How to Create Leadership at Every Level, by L. David Marquet, former commander, SSN Santa Fe Small

Small Giants: Companies That Choose to Be Great Instead of Big, by Bo Burlingham Hidden Champions: Success Strategies of Unknown World Market Leaders, Leaders, by Hermann Simon Retail Superstars: Inside the 25 Best Independent Stores in America, America, by George Whalin Joy at Work: A Revolutionary Approach to Fun on the Job, by Dennis Bakke, former CEO, AES Corporation The Dream Manager, by Matthew Kelly The Soft Edge: Where Great Companies Find Lasting Success, by Rich Karlgaard, publisher, Forbes

Delivering Happiness: A Path to Profits, Profits, by Tony Hseih, Zappos Camellia: A Very Different Company Fans, Not Customers: How to Create Growth Companies in a No Growth World, World, by Vernon Hill Like a Virgin: Secrets They Wont Teach You at Business School, School, by Richard Branson Turns out there is more or less a library full of books on organizations that have done it the right way for their people. So how about a book club????

Why Not JOY?! It may sound radical, unconventional, and bordering on being a crazy business idea. However as ridiculous as it soundsjoy is the core belief of our workplace. Joy

is the reason my company, Menlo Innovations, a customer software design and development firm in Ann Arbor, exists. It defines what we do and how we do it. It is the single shared belief of our entire team. Joy, Inc.: How We Built a Workplace People Love Richard Sheridan, WHY NOT??

Only one thought: (Buy and read and digest the bookand dont dismiss the idea out of hand. PLEASE.) Moral Imperative Almost half of U.S. jobs are at high risk of computerization over the next 20 years, according to Oxford academics Carl Benedikt Frey and Michael A.

Osborne. CNBC, 9 March 2016* (*50,000 to 500 /4 April 2018) The intellectual talents of highly trained professionals are no more protected from automation than is the drivers left turn. Nicholas Carr, The Glass Cage: Automation and Us If you think being a professional makes your job safe, think again. Robert Reich Theres no way I can make a useful 50word comment. I WILL SAY THERE

IS SIGNIFICANT DISAGREEMENT AMONG TOP-TIER EXPERTS ON BOTH TIMING AND INTENSITY. On the other hand, dramatic change is on the wayand every employed person under, say, age 45 or perhaps 50 needs to be prepared for a dramatically altered tomorrow or the day after tomorrow at the latest.

Maybe. Maybe not. manufacturing employment in CHINA itself has actually fallen by an estimated 25 percent. Thats over 30,000,000 fewer Chinese Since 1996, workers in that sector, even while output

soared by 70 percent. Its not that American workers are being replaced by Chinese workers. Its that both American and Chinese workers are being made more efficient [replaced] by automation. Erik Brynjolfsson and Andrew McAfee, The Second Machine Age: Work, Progress, and Prosperity in a Time of Brilliant Technologies China, too. !

Big time China/Foxconn: 1,000,000 robots/next 3 years Source: Race AGAINST the Machine, Erik Brynjolfsson and Andrew McAfee China, too. !

Big time (Redux.) The root of our problem is not that were in a Great Recession or a Great Stagnation, but rather that we are in the early Great Restructuring throes of a

. Our technologies are racing ahead, but our skills and organizations are lagging behind. Source: Race AGAINST the Machine, Erik Brynjolfsson and Andrew McAfee The issue in a nutshell. (The authors have few peers when it comes to these issues.) #1: Your

principal moral obligation as a leader is to develop the skillset, soft and hard, of every one of the people in your charge (temporary as well as semipermanent) to the maximum extent of your abilities. The bonus: This is also the #1 midto long-term profit maximization strategy! 2018/CORPORATE MANDATE This is arguably the most important slide in this set. The key phrase:

OBLIGATION. MORAL Developing people has always been a winning strategy. But we are now addressing something much more profound: likely astronomic instability in the employment market. It is now the community duty of enterprise to be the lead player in addressing coming employment

dislocation. The role of the Director is to create a space where the actors and actresses can become more than theyve ever been before, more than theyve dreamed of being. Robert Altman, Oscar acceptance speech

This is beautiful language. WHY NOT EVERY* LEADERS AGENDA ITEM No. 1??? *Every = Every. Big firm or small. In fact, this applies to the leader of a disbursed project team that will be around for only, say, 4 to 6 months. (Please read this carefully:. more than they have ever been before, more than they

have dreamed of being.) (Up for it???) Pinnacle of Possibility MANAGING: AS A PAIN IN THE ASS. Somebodys got to do it; punching bag for higher ups on one end, grouchy employees on the other; blame magnet if things go wrong, big bosses abscond with the credit if things go right. MANAGING: AS THE PINNACLE OF HUMAN

ACHIEVEMENT. The greatest life opportunity one can have [literally]. Mid- to long-term success is no more and no less than a function of ones dedication to and effectiveness at helping team members grow and flourish as individuals and as contributing members to an energetic, self-renewing organization dedicated to the relentless pursuit of EXCELLENCE. EXCELLENCE Its simple, really. An ordinary manager

[not a big company CEO] can profoundly redirect more lives than the best of neurosurgeons. A managerevery dayhas the opportunity to dramatically [no hyperbole] affect the life trajectory of every employee on her or his team or in her or his department. (And over a career this could add up to re-shaping the lives of hundreds [or more, even many more] of co-workers.)

Les Wexner: FROM FASHION TRENDS GURU TO JOY FROM PICKING/ DEVELOPING PEOPLE!* *Limited Brands founder Les Wexner queried on astounding (>>Welch) longterm growth & profitability: It happened, he said, I got as excited about developing people because

as he had been about predicting fashion trends in his early years. Jack Welch was the poster-child CEO for years. After he retired, BusinessWeek identified a passel of CEOs who had actually outperformed Welch during the time he led GE. One was Limited Brands Les Wexner. As to his secret, Wexner said it was moving people development to the

top of his agenda. Joe J. Jones 1/3/42 3/23/17 Net Worth $21,543,672.48* (*When the NYSE closed on 3/22/17) No tombstone features the deceaseds net worth. Right? Instead

In a way, the world is a great liar. It shows you it worships and admires money, but at the end of the day it doesnt. It says it adores fame and celebrity, but it doesnt, not really. The world admires, and wants to hold on to, and not lose, goodness. It admires virtue. At the end it gives its greatest tributes to generosity, honesty, courage, mercy, talents well used, talents that, brought into the world, make it better. Thats what it really admires. Thats what we talk about in eulogies, because thats whats important. We dont say, The thing about Joe

was he was rich! We say, if we can The thing about Joe was he took good care of people. Peggy Noonan, A Lifes Lesson, on the life and legacy of journalist Tim Russert (Wall Street Journal, June 20, 2008) No explanation required. (One would surely hope one deserved words like this to describe her or his life.)

Hiring Nice++ 1/7,500 May I help you down the jetway A morning flight from Albany to Washington (BWI) on Southwest Airlines. Pilots coming in on a flight that was slightly delayed. I.e., they are in a rushunder

unimaginably intense pressure to get their next flight out on time. At the gate where I was, there was the typical lineup of about five wheel chairs. The pilot-in-a-hurry heads toward the gate. He pauses, turns to the woman in the first wheelchair and says [approximately], down the jetway? May I help you

Im a pro. I have at least 7,500 flight legs on my balance sheet. Seventy-five hundred flight legsand this was the first time Id seen a pilot [especially one behind schedule] push a wheelchair down a jetway. Whats up We look for ... listening, caring, smiling, saying Thank you, being warm. Colleen Barrett, former President, Southwest Airlines

Whats up? A lots up. The Southwest story of excellent service has been told many timesincluding several times by me. But in this instance, lets focus on one aspect. Yes, theres more to the story, but one can still confidently say that things like the wheelchair-event are far more likely to happen if you explicitly hire people with a helpful bent. Former president Colleen Barrett explained that Southwest hires for listening, caring, smiling, saying Thank you, and being warm. AND this filter applies to pilots and mechanics as much as to flight

attendants and gate personnel. Yes, there is much, much more to the little sagabut these uncharacteristic hiring criteria are a big part of the tale of the pilot-and-the-lady-in-the-wheelchair. (Remember: 7,500 flight legsand the first time Id observed the likes of this. 1/7,500.) SMALL >> BIG! Courtesies of a small



[in the hiring process] is that we only hire nice people. When we finish assessing skills, we do something called running the gauntlet. We have them interact with 15 or 20 people, and everyone of them have what I call a blackball vote, which means they can say if we should not hire that person. I

believe in culture so strongly and that one bad apple can spoil the bunch. There are enough really talented people out there who are nice, you dont really need to put up with people who act like jerks. I love it that this comes from a pharmaceutical companynot a setting where you might expect nice to top the list of prospective employee attributes. The boss makes the point that there are

actually a lot of super-technically-talented people around. Hence, there is no need to hire jerks; hire the nice onesand preserve the supportive culture. (Theres a plethora of evidence that demonstrates that nice or something like it is a longterm spur to innovation. Interestingly, Google just figured this out there is a subsequent discussion of Googles discovery.) When we talk about the

qualities we want in people, empathy is a big one. If you can empathize with people, then you can do a good job. If you have no ability to empathize, then its difficult to help people improve. One way that empathy manifests itself is courtesy. Its not just a Everything becomes harder. veneer of politeness, but actually trying to

anticipate someone elses needs and meeting them in advance. Stewart Butterfield, co-founder/CEO Slack, founder Flickr Add: EMPATHY I cant tell you how many times we passed up hotshots for guys we thought were better

people and watched our guys do a lot better than the big names, not just in the classroom, but on the fieldand, naturally, after they graduated, too. Again and again, the blue chips faded out, and our little up-and-comers clawed their way to allconference and All-America teams. Bo Schembechler & John Bacon), Recruit for Character, Bos Lasting Lessons Add: BETTER PEOPLE


Forget HR speak. Use the words on this list. . Hiring WE-ism Observed closely during Mayo Clinic employment interviews (for renown surgeons as well as

others): The frequency of use of I or We . Management Lessons from the Mayo Clinic is one of the Top five management books Ive read in the

last decade. The we idea goes a long way toward explaining Mayos hundred-year peerless performance level. (And, yes, Mayo examiners do count the wes and Is during an interview. And, in a parallel to southwest and pilots, the we-ness requirement holds for top surgeon applicants.) I am hundreds

of times better here [than in my prior hospital assignment] because of the support system. Its like you were working in an organism; you are not a single cell when you are out there practicing. quote from Dr. Nina Schwenk, in Chapter 3,

Practicing Team Medicine, from Leonard Berry & Kent Seltman, from Management Lessons From Mayo Clinic A byproduct of that fanaticism. We "It became necessary to develop medicine as a

cooperative science; the clinician, the specialist, the laboratory workers, the nurses uniting for the good of the patient, each assisting in the elucidation of the problem at hand, and each dependent upon the other for support. Dr. William Mayo, 1910 118

years of We. (And, alas, oh so rarecirca 2018in healthcare.) "When I was in medical school, I spent hundreds of hours looking into a microscopea skill I never needed to know or ever use. Yet I didn't have a single class that taught me communication or teamwork skillssomething I need every day I walk into the hospital. Peter Pronovost, Safe Patients, Smart Hospitals

Ouch. Alas, no surprise. (Dr. Pronovost, on the staff at Johns Hopkins, is the father of the checklist movement that has saved so many lives. He was the de facto star of Atul Gawandes book, The Checklist Manifesto.) Training: Investment

#1 INVESTMENT #1 . (Y-e-s, #1and I have given this an enormous amount of thought.) In the Army and Navy,

3-star generals/ admirals obsess on training. In most businesses, it's a ho-hum mid-level staff function. training, TRAINING and M-O-R-E T-R-A-I-N-I-N-G Admiral Chester Nimitz, Commander In Chief/Pacific,

communication to Chief of Naval Operations Ernest King. Fact: The U.S. Navy was woefully under-prepared at the time of Pearl Harbor. The fix: T-R-A-I-N-I-N-G more important than hardware! (Note: The capitalization, punctuation and italics In the quote above are Admiral Nimitzs, not mine.) Sergeants. Lieutenants. Majors. Police forces. Symphony orchestras.

Theater companies. Football players. Archery team members. Doctors. Scientists. Etc. For all these folks its training first and training forever. WHY NOT THE AVERAGE BUSINESSTINY TO GARGANTUAN?

Basketball coach John Wooden, perhaps the best coach of I was never much of a game coach, but I was a pretty good practice coach. anything, ever: Hall of fame football/NFL coach Bill Walsh on training/preparation: The score takes care

of itself. [This was also the title of Walshs last book.] ! (Two peerless trainers.) Gamblin Man Bet #1: >> 5 of 10 CEOs see training as expense rather than investment. Bet #2: >> 5 of 10 CEOs see training

as defense rather than offense. Bet #3: >> 5 of 10 CEOs see training as necessary evil rather than strategic opportunity. Bet #4: >> 8 of 10 CEOs, in 45-min tour dhorizon of their biz, would NOT mention training. Bets Id love to lose.

Not gonna happen. Is your CTO/Chief Training Officer (Do you even have a CTO?) your top paid C-level job (other than CEO/COO)? Are your top trainers paid/cherished as much as your top marketers/ engineers?

If not, why not? (Answer: STUPIDITY.) Is your CTO/Chief Training Officer your top paid C-level job (other than CEO/COO)? If not, why not? Are your top trainers paid as much as your top marketers and engineers? If not, why not? Are your training courses so good they make you giggle and tingle?

If not, why not? Randomly stop an employee in the hall: Can she/he meticulously describe her/his development plan for the next 12 months? If not, why not? Why is your world of business any different than the (competitive) world of rugby, football, opera, theater, the military? If people/talent first and hyper-intense continuous training are laughably obviously for them, why not you? If not, why not? (Answer: STUPIDITY.)

Train em and theyll leave. Or This is the frequent infantile excuse for a limited training budget. TRAIN PEOPLE WELL ENOUGH SO

THEY CAN LEAVE, TREAT THEM WELL ENOUGH SO THEY DONT WANT TO. Richard Branson Branson to the rescue. AGAIN. First-Line Bosses/ Asset

#1 ASSET #1 . (Yes, #1and I have given this an enormous amount of thought. Last two sections:

Training = Investment #1. First-line chiefs = Asset #1. Please consider ) If the regimental commander lost most of his 2nd lieutenants and 1st lieutenants and captains and majors, it would be a tragedy. IF HE LOST HIS SERGEANTS IT WOULD BE A CATASTROPHE. The Army and the Navy are fully aware that

success on the battlefield is dependent to an extraordinary degree on its Sergeants and Chief Petty Officers. Does industry have the same awareness? Once again, a military example. Once again, the military example is apt. The Sergeants DO run the Armyand the generals damn well know it. The Chief Petty Officers DO run the Navyand the admirals damn well know it. (FYI: I spent four years in the U.S.

Navy.) The logic is clear: Who do the people work for? Answer in full: the sergeants, the chiefs, your 1st-line bosses. Employee retention/satisfaction/productivity: Overwhelmingly based on the first-line manager! Marcus Buckingham/Curt Coffman, First, Break All the Rules

People leave managers not companies. Dave Wheeler Front-line Chiefs: Principal determinant of enterprise productivity. Principal determinants of employee retention.

Principal determinants of product/ service quality. Principal carriers/embodiments of corporate culture. Principal visible spear carriers for Excellence. Principal champions/enablers of sustained employee development. Q.E.D. (I hope.)

SEVEN KEY QUESTIONS ABOUT YOUR FIRST-LINE CHIEFS 1. Do you absolutely understand and act upon the fact that the first-line boss is THE KEY LEADERSHIP ROLE in the organization? 2. Does HR single out first-line supervisors individually and collectively for special, over the top developmental attention? 3. Do you spend gobs and gobs of time selecting first-line supervisors? 4. Are you willing, pain notwithstanding, to leave a first-line supervisor slot open until you can fill the slot with someone spectacular?


MBWA (Managing By Wandering Around) MBWA was the soul of In Search of Excellence. MBWA remains the soul of my work 36 years later. Managing By Wandering Around.

My In Search co-author Bob Waterman and I learned about MBWA at Hewlett-Packard in 1979. It was the heart of The HP Way. MBWA is what it sounds likeand so much more. MBWA is about leaders who are in touch with the people who do the work. MBWA is about leaders who love the people who are doing the workand get a kick out of being around them. MBWA is about leaders who want to know whats really going on in their organization. MBWA is about leaders as spearcarriers of the corporate culture. Hey, MBWA at the end of the day, is about leaders who give a shit

Im always stopping by our stores at least 25 a week. Im also in other

places: Home Depot, Whole Foods, Crate & Barrel. I try to be a sponge to pick up as much as I can. Howard Schultz Source: Fortune, Secrets of Greatness 25! (Per week.) Howard Schultz has a lot on his mind. Howard Schultz has a great staff. But Howard Schultz keeps up his MBWA big time. Terabytes of data notwithstanding,

Schultz insists he needs to feel up close the character of transactions in a Starbucks shop. Golden Bay [NZ] Revelation You do MBWA because its

! FUN I was wandering the beach in New Zealand ,,, and, God help me, musing on MBWA. You do it to keep in touch and learn about whats really going on in the organization. True. But, it dawned on me after all these years, that misses the point. You do it because its

FUN. And if its not fun to hang out with the distribution team in the distribution center at 1AM, well, then, go back to tha office and hand in your resignation as a leader/manager/exec. Okay? (I am dead serious.) Have you done your MBWA

TODAY?* Damn it! Leading/ 50% Unscheduled Most managers spend a great deal of time thinking about what they plan to do, but relatively little time thinking about what they plan not to do. As a result, they become so caught up in fighting the fires of the moment that they cannot really attend to the long-term threats and risks facing the organization. So the first soft skill of leadership the hard way is to cultivate the perspective of Marcus Aurelius: avoid busyness, free up your time,

Let me put it bluntly: every leader should routinely keep a substantial portion of his or her timeI stay focused on what really matters. would say as much as 50%

unscheduled. Only when you have substantial slop in your scheduleunscheduled timewill you have the space to reflect on what you are doing, learn from experience, and recover from your inevitable mistakes. Leaders without such free time end up tackling issues only when there is an immediate or visible problem. Managers typical response to my argument about free time is, Thats all well Yet we waste so much time in unproductive activityit takes an enormous effort on the part of the leader to keep free time for the truly important things. and good, but there are things I have to do.

First, Dov Frohman is the real thing. He has been a wildly successful Intel execas tough a company in as tough a business as one can conjure up. Second, he is to a large degree a godfather of the entire Israeli tech sector. I certainly dont imagine youll hit his 50% mark. But it damn well is worth considering the logic of what he says. And perhaps, realistically aiming for 20-25%. That would be a great leap forward for most. My take: OVERSCHEDULING IS AN INDICATOR OF A LACK OF DISCIPLINEAND A SELF-IMPORTANCE STREAK THAT IS NOT VERY PRETTY. (Elsewhere in the book, in a related vein, he touts the

power of daydreaming and claims that virtually all of his best ideas were a byproduct of daydreaming. So my advice: but the book and think seriously about this advice.) Leading/Listening/ Core Value #1 Yes

#1 The doctor interrupts after Source: Jerome Groopman, How Doctors Think 18 SECONDS The best source of information for the doctor, Harvard Med School professor Groopman asserts, is THE PATIENT. And yet research

demonstrated that docs interrupt on average after 18 seconds. This presentation is not for M.D.s. It is for bosses/leaders. And Id bet a pretty penny that many bosses/leaders reading this are, heaven forbid 18-SECOND INTERRUPTERS. [An obsession of

with] Listening is ... the ultimate mark Respect . Listening is ... Listening is ... Listening is ... Listening is ... Listening is ... Listening is ...

Listening is ... the heart and soul of Engagement. the heart and soul of Kindness. the heart and soul of Thoughtfulness. the basis for true Collaboration. the basis for true Partnership. a Team Sport. a Developable Individual Skill.* (*Though women Listening is ... Listening is ...

Listening is ... Listening is ... the basis for Community. the bedrock of Joint Ventures that work. the bedrock of Joint Ventures that grow. the core of effective Cross-functional Communication* (*Which is in turn Attribute #1 of are far better at it than men.) organization effectiveness.)

Yes, listening is all of these things. And more. (Please give this list more than a glance. Read it slowly. Then re-read. Think about COULD LISTENING PER SE BE THIS IMPORTANT? I, of course, think the each item. Ask yourself: answer is yes, yes, a thousand times

YES.) Part ONE: LISTEN* (pp11-116, of 364) *The key to every one of our [eight] leadership attributes was the vital importance of a leaders ability to listen. (One of Bransons personal keys to listening

is notetakinghe has hundreds of notebooks.) Source: Richard Branson, The Virgin Way: How to Listen, Learn, Laugh, and Lead Branson again. I remember picking up the book in an airport with no particular intention to buy it. But I got hooked at the Table of Contents. What?? ONE-THIRD OF THE BOOK ON

LISTENING PER SE?? The answer: Yes, fully one third. Branson thinks its that important. And so do I. My education in leadership began in Washington when I was an assistant to Defense Secretary William Perry. He was universally loved and admired by heads of state and our A lot of that was because of the way he listened. Each person who talked to him had his complete, undivided attention. Everyone blossomed in his presence, because he was so respectful, and I realized I wanted

to affect people the same way. own and allied troops. Perry became my role model but that was not enough. Something bigger had to happen, How many times had I barely glanced up from my work when a subordinate came into my office? I wasnt paying attention; I was marking time until it was my turn to give orders. That and it did. It was painful to realize how often I just pretended to hear people. revelation led me to a new personal goal. I vowed to treat every encounter with every

person on Benfold (Abrashoff was the Captain) as the most important thing at that moment. It wasnt easy, but my crews enthusiasm and ideas kept me going. It didnt take me long to realize that my young crew was smart, talented and full of good ideas that usually came to nothing because no one in charge had ever listened to them. I DECIDED THAT MY JOB WAS TO LISTEN AGGRESSIVELY Mike Abrashoff, Its Your Ship: Management Techniques from the Best Damn Ship in the Navy Listening a big deal? Yup X100.

And I love this word choice from Captain Abrashoff: AGGRESSIVE LISTENING. Yes!! Listening is not a passive activity. It is the ultimate mark of human engagement. (My view is that if you arent exhausted after, say, a 30-minute conversation, you were not fully engaged [NOT listening AGGRESSIVELY.])

Suggested Core Value #1: We are Effective Listenerswe treat Listening EXCELLENCE as the Centerpiece of our Commitment to Respect and Engagement and Community and Growth.

Yes! #1. (Think about it. PLEASE.) The best way to persuade someone is with your ears, by listening to them. former U.S. Secretary of State Dean Rusk

! Leading/ ! Appreciation The deepest principle in human nature is the craving* to be

appreciated. William James *Craving, not wish or desire or longing, per Dale Carnegie, How to Win Friends and Influence People (chapter, The BIG Secret of Dealing With People) DEEPEST = Strong language

Employees who don't feel significant rarely make significant contributions. Mark Sanborn How do I emphasize this adequately? Employees who don't feel significant rarely make significant contributions. Its a nice quote. You nod your head.

GOOD ENOUGH. NOT Appreciation is the key to affecting human behavior. Appreciation, Ive argued elsewhere is THE MOST POWERFUL WORD IN THE ENGLISH LANGUAGE. LITTLE >>

BIG 30,000 handwritten Thank you notes to employees during the CEO Doug Conant sent 10 years

he ran Campbell Soup. [approx 15/work day] Source: Bloomberg BusinessWeek 15/DAY. 10 YEARS. WHATS YOUR HANDWRITTEN T-NOTE


Source: courtesy Dave Wheeler, posted at I do not think this is an exaggeration: FOUR. MOST. IMPORTANT. WORDS. IN. ANY. ORGANIZATION. We are ladies and

gentlemen serving ladies and gentlemen. From the Ritz-Carlton Credo: Corporate credos generally do very little for me. (Understatement.) This is a very rare exception. Why? EVERY EMPLOYEE IN THE HOTELSTARTING WITH THE

HOUSEKEEPING STAFFHAS BEEN DESIGNATED A LADY OR GENTLEMAN. Simple: That is a very-big-deal. Leading/ Hit the Books! If I had to pick one failing of

they dont read enough. CEOs, its that He is the co-founder of one of our most successful/giant investment banking firms. At dinner, and out of the blue, he said to me, Do you know what the single biggest

failure of CEOs is? I responded with a smart-ass, I can name 50 failings, but itd be hard to single out one. His answer, per the prior slide, They dont read enough. You could have knocked me over with that proverbial feather. But when you think about it, given the change that is afoot, it is a great answeras it should be from a pro of his stature. AND YOU??

In my whole life, I have known no wise people (over a broad subject matter area) who didnt read all the time none. Zero. Youd be amazed at how much Warren [Buffett] reads and how much

I read. Charlie Munger (#2, Berkshire Hathaway) Confirmation. (If any is necessary.) Leading/ ! Women Rule

For One [BIG] Thing McKinsey & Company found that the international companies with more women on their corporate boards far outperformed the average company in return on equity and other measures. Operating profit was 56% higher.

Source: Nicholas Kristof, Twitter, Women, and Power, NYTimes, NYTimes, 1024.13 The data accumulate! McKinsey, no slouches analytically (understatement), demonstrate that gender balance on Boards yields dramatic financial rewards. (E.g., +56%.) Research suggests that to

succeed, start by promoting women. [by McKinsey & Co.] Nicholas Kristof, Twitter, Women, and Power, NYTimes The selfsame McKinsey offers a powerful ! generalization

In my experience, women make much better executives than men. Kip Tindell, CEO, Container Store Container Stores CEO would seem to agree.

Women are rated higher in fully 12 of the 16 competencies that go into outstanding leadership. And two of the traits where women outscored men to the highest degree taking initiative and driving for results have long been thought of as particularly male strengths.

Harvard Business Review More: 12/16 AS LEADERS, WOMEN RULE: New Studies find that

female managers outshine their male counterparts in almost every measure TITLE/Special Report/ BusinessWeek BusinessWeek didnt mince words. Womens Strengths Match New Economy Imperatives: Link [rather than

rank] workers; favor interactivecollaborative leadership style [empowerment beats top-down decision making]; sustain fruitful collaborations; comfortable with sharing information; see redistribution of power as victory, not surrender; favor multidimensional feedback; value technical & interpersonal skills, individual & group contributions equally; readily accept ambiguity; honor intuition as well as pure rationality; inherently flexible; appreciate cultural diversity. Source:

Judy B. Rosener, Americas Competitive Secret: Women Managers Stanford researcher Judy Rosener concludes that the new shape of organizations is an excellent match with the particular strengths that women bring to the table. Womens Negotiating Strengths *Ability to put themselves in their

counterparts shoes *Comprehensive, attentive and detailed communication style *Empathy that facilitates trust-building *Curious and attentive listening *Less competitive attitude *Strong sense of fairness and ability to persuade *Proactive risk manager *Collaborative decision-making Source: Horacio Falcao, Cover story/May 2006, World Business, Say It Like a Woman: Why the 21st-century negotiator will need the female

touch Women tend to be better negotiators. PORTRAIT OF A FEMALE INVESTOR 1. Trade less than men do 2. Exhibit less overconfidencemore likely to know what they dont know 3. Shun risk more than male investors do 4. Less optimistic, more realistic than their male counterparts 5. Put in more time and effort researching possible

investmentsconsider details and alternate points of view 6. More immune to peer pressuretend to make decisions the same way regardless of whos watching 7. Learn from their mistakes 8. Have less testosterone than men do, making them less willing to take extreme risks, which, in turn, could lead to less extreme market cycles Warren Buffett Invests Like a Girl: And Why You Should Too, Louann Lofton, Chapter 2, The Science Behind the Source:

Girl AND: Women tend to make better investment decisions. ! (Read in detail: That is a potent list ) $22 Trillion in Assets Will

Shift to Women by 2020 The Street and Investment News (Full title of the article: $22 in Assets Will Shift to Women by 2020: Why Men Need to Watch Out) $22T: Women are gaining significantly more heft in the job market. Boomer males on average check out several years before their mates.

Net result: $22,000,000,000,000. FYI/Higher math: Gender balance = 50%! Gender balance = Gender balance. E.g., 10-person Board of Directors: Half of 10 is 5. Hence: 5F, 5M.

PERIOD. Gender Balance II: Dont be stupid! There are substantial reasons to believe that women in general are better leaders/ managers than men. The implication is NOT that we ought to toss male leaders out onto the street. The implication IS that if there is much less than 50-50 F/M gender balance you are

being stupid. PERIOD. Elizabeth Cady Stanton (more or less) (31 March 2007) I have been working non-stop on womens issues since 1996. To make a longish story short, in 2007 I went to a costume party in Vermont dressed as my great hero, Elizabeth Cady Stanton, by

many measures the principal driving force in the USAs Womens Suffrage Movement. Leading/ Follow [ALL] the Money!*

(*Women/Oldies/Underserved) Forget CHINA, INDIA and the INTERNET: Economic Growth Is Driven by WOMEN. Source: Headline, Economist W>

2X (C + I)* *Women now drive the global economy. Globally, they control about $20 trillion in consumer spending, and that figure could climb as high as $28 TRILLION in the next five years. Their $13 trillion in total yearly earnings could reach $18 trillion in the same period. In aggregate, women represent a growth market bigger than China and India

combinedmore than twice as big in fact. Given those numbers, it would be foolish to ignore or underestimate the female consumer. WOMEN AS DECISION MAKERS/VARIOUS SOURCES Home Furnishings Vacations 92% 94%

(Adventure Travel 70%/ $55B travel equipment) 91% D.I.Y. 80% Consumer Electronics 51% Cars 68% (influence 90%) Houses (major home projects)

(66% home computers) All consumer purchases Bank Account 83% * 89% 67% Small business loans/biz starts 70% Health Care 80%

Household investment decisions *In the USA women hold >50% managerial positions including >50% purchasing officer positions; positions; hence women also make the majority of commercial purchasing decisions. Women [USA] as 55% Purchasing managers: 42% Wholesale/retail buyers: 52%

Purchasing agents: Employee health-benefit plans: 60% Source: Martha Barletta/TrendSight Group/0517.11 Women are THE majority market

Fara Warner/The Power of the Purse The previous section makes a solid case that women on average are more effective leaders than men. But there is another compelling reason to examine womens penetration of corporate leadership ranks. Namely: WOMEN BUY EVERYTHING. That is, women are the purchasing decision makers for about 80% of consumer goods. Moreover, women fill over 50% of corporate purchasing officer slots in the U.S. Hence, she is as likely to be the decision maker relative to

the $150 million IS infrastructure project as she is to select the family healthcare plan. Looked at globally, the womens market is approximately $28 trillion. As the Economist calculated it, thats more than twice the combined Chinese and Indian GDP. Inarguably, womens purchasing power should be reflected in corporate executive leadership. MOST SIGNIFICANT VARIABLE in EVERY The

sales situation is the GENDER of the buyer, and more importantly, how the salesperson communicates to the buyers gender. Jeffery Tobias Halter, Selling to Men, Selling to Women

Women dont buy They join them. brands. Faith Popcorn, EVEolution The purchasing process differs on average for men and women.

Can you pass the Squint test ? SQUINT at a picture of the Executive Team. Does it look APPROXIMATELY like the composition of the market?* If not (IMHO), there is a problem?!**

*Most likely the great majority of sales are to women. **Men have notorious shortfalls when it comes to conceiving and designing and marketing products and services for women. [email protected]: PEOPLE TURNING 50 MORE THAN HALF OF

TODAY HAVE THEIR ADULT LIFE AHEAD OF THEM. Bill Novelli, 50+: IGNITING A REVOLUTION TO REINVENT AMERICA Average # of cars purchased per [USA] household, lifetime:

13 Average # of cars bought per household after the head of household > age 50: 7 Source: Marti Barletta, PrimeTime Women USA

1 BOOMER AGE 65 8 SECONDS 20 YEARS turns Every For the next VERY

The second neglected/ underserved/ridiculously underserved/ ENORMOUS market is oldies.* *I love the only half over @ 50 way of putting it.

In 2009, households headed by adults ages 65 and older ... had 47 times 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 Households headed by someone 40 or older enjoy 91% of our populations net worth. The mature market is the dominant market in the U.S. economy, making the majority of expenditures in virtually every

category. Carol Morgan & Doran Levy, Marketing to the Mindset of Boomers and Their Elders NOT have the money. Oldies [de facto] have ALL the Oldies do money. 44-65: NEW

CUSTOMER MAJORITY Source: Ageless Marketing, David Wolfe & Robert Snyder Age Power will rule the 21 century, and we are woefully unprepared. st

Ken Dychtwald, Age Power: How the 21st Century Will Be Ruled by the New Old Marketers attempts at reaching those over 50 have been miserably No markets motivations and needs are so poorly

understood. unsuccessful. Peter Francese, founding publisher, American Demographics >50 50% spending 10% marketing budgets THE

WOEFULLY STUPID. market. under-attended. Baby-boomer Women: The Sweetest of Sweet Spots for Marketers David Wolfe and Robert Snyder, Ageless Marketing

Women + Old: Sweetest of Sweet Spots for Marketers. So???????????????????????????? NOT an Initiative. Wholesale STRATEGIC realignment.

NOT a The answer is most definitely 2018 womens initiative or a 2018 mature-market initiative. The size of the opportunity/opportunities is EVERY ASPECT such that

of the organization must be examined in light of any serious effort to master these markets. Leading/ Design Ubiquity D-Day/10 August 2011 Design RULES!

APPLE market cap > Exxon Mobil I had been talking about design for 15 or 20 years. The response was head nodding, but little in the way of action. But, as I see it, after 10 August 2011 my [and others] efforts to put design on the front burner could no longer be ignored. That day, Apples marketizalization surpassed Exxon Mobilsand Apple became the most valuable company on earth. The ranking goes up and down, to be sure, but Apple had unmistakably demonstrated that a strategy that

put design at the head of the parade could pay off VERY] big Time. [ (I believe in this so much that I have a separate chapter on design in The Excellence Dividend and I insist that design in 2018 is the #1 product or service differentiator.) (And design is one of the few things that may beat is bestsafe from the intrusion of artificial intelligence.)

We dont have a good language to talk about this kind of thing. In most peoples vocabularies, design means veneer. But to me, nothing could be further from DESIGN IS THE FUNDAMENTAL SOUL OF A MAN-MADE CREATION.

the meaning of design. Steve Jobs Huge degree of care. Apple design: Ian Parker, New Yorker, 23 March 2015, on Apple design chief Jony Ives

Steve and Jony would discuss corners for hours and hours. Laurene Powell Jobs Typically, design is a vertical stripe in the chain of events in a products delivery. [At Apple, its] a long, horizontal

stripe, where design is part of every conversation. Robert Brunner, former Apple design chief Design is indeed about soula topic I believe applies to every organization or organizational unit. To product developers, sure, but to the 11-person training group as and to

well (and with great intensity), the 7-person local appliance repair company, etc., etc. (Design is about souland, per the prior two slides, a huge degree of care in general. And, yes, corners.) [Nest founder Tony Fadell] admitted, Every business school in the world would flunk you if you came out with a business plan that said, Oh, by the way, were going to

design and fabricate our own screws at an ex ponentially BUT THESE ARENT JUST SCREWS. LIKE THE THERMOMETER ITSELF, THEYRE BETTER SCREWS, EPIC SCREWS, SCREWS WITH, DARE I SAY IT, DEEPER MEANING. Functionally, they utilize a higher cost than it would cost to buy them. specific thread pattern that allows them to go into any surface,

from wood to plaster to thin sheet metal. And the [custom] screwdriver feels balanced to the hand; it has the Nest logo on it and looks Nest-y, just like everything from Apple looks Apple-y. Rich Karlgaard, The Soft Edge EPIC SCREWS WITH DEEPER MEANING. I love that. (Please reflect.) It is fair to say that almost no new

vehicle in recent memory has provoked more smiles. review of the MINI Cooper S, reported in Donald Norman, Emotional Design: Why We Love (or Hate) Everyday Things SMILES. And: I love that, too. (Again: Please reflect.)

(Epic screws, peerless corners, and smiles become the centerpiece of strategic value-added conversations.) (Donald Norman is the great functionality design guru. He championed the idea that design meant much more than aesthetics. The ease of use, etc. was of the utmost importance. Then, just a few years ago he had a new epiphanycall it the more smiles epiphany. That is great design is aesthetically pleasing, functionally excellentAND it hooks you emotionally. From this came his great book, Emotional Design: Why We Love (or Hate) Everyday Thingsthe MINI Cooper S example came from that book.)

EXCELLENCE: THE TRIUMPH OF HUMANITY Janet Dugan, a healthcare architect, took inspiration from her recent experience having an MRI (Magnetic Resonance Image) scan. While she was lying still and waiting, she noticed a small mirror that had been placed below the head support piece. It was angled so that she could see through the barrel to the radiology technician and make eye contact with him. What a small thing, she told me. And yet what a difference it made. I felt less alone. I was connected to another person at the very moment I needed support. And even though Im not claustrophobic, it calmed me some to

be able to see out of the barrel I [saw] that the technician was friendly and that the nurse went out of her way to make me laugh. I firmly believe in the power of design to contribute to the healing processthat architecture can shape events and transform lives. But that day, in that experience, the thing that really gave me comfort was a tiny mirror about as big as a Band-Aid. Tim Leberecht, The Business Romantic: Give Everything, Quantify Nothing,and Create Something Greater Than Yourself

a mirror about as big as a Band-Aid. And Consistent with the assessment hereand in fact the Epigraph of The Excellence Dividend. (An indicator of how seriously I take all this.) As a marketing executive, I view business as one of the greatest adventures of the human

enterpriseif not the greatest. But I am not just a businessman: I am also an unapologetic romantic. I believe the world would be a better place if we had more romance in our lives. I believe that promise trumps fulfillment. I believe that emotion eats reason for breakfast. I am not a daydreamer, idealist, or social activist. I am a business romantic. Tim Lebrecht, The Business Romantic: Give Everything, Quantify

Nothing, and Create Something Greater Than Yourself Tim Lebrecht had his twoor ten cents in his superb and thoughtful book The Business Romantic: Give Everything, Quantify Nothing, and Create Something Greater Than Yourself (Among other things, Tim was the chief marketing officer at Frog Design.)

Design is * * * * * * * * * *

* * * The reception area The restrooms!! Dialogues at the call center Every electronic [or paper] form Every business process map Every email

Every meeting agenda/setting/etc. Every square meter of every facility Every new product proposal Every manual Every customer contact A consideration in every promotion decision The presence and ubiquity of an Aesthetic sensibility/ Design mindfulness * An encompassing design review process * Etc. * Etc.

The ubiquity of design DIFFERENTIATOR #1 Leading/ A Seriously Playful Culture WTTMSW

WHOEVER TRIES THE MOST STUFF WINS All you need to know about innovation is an absurd statement. Except I more or less mean it. A Bias for Action was named excellence trait #1 way back when (In

Search of Excellence/1982. I loved and love this quote from Southwest Airlines founder We have a strategy at Southwest. Its called doing things. So tryinaHerb Kelleher, lotta-stuff is indeed Innovation Cornerstone #1 in my book. Was in 1982. Is in 2018

X1000. EXPERIMENT FEARLESSLY Source: BusinessWeek, Type A Organization Strategies: How to Hit a Moving Target TACTIC #1 RELENTLESS TRIAL AND ERROR Source: Wall Street Journal, Journal, cornerstone of effective approach to rebalancing company

portfolios in the face of changing and uncertain global economic conditions WTTMSW. Universal Success Strategy #1 . You cant 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 But there is a [BIG] problem with WTTMSW. And that is that you cant effectively do

WTTMSW until you have in effect a culture of the likes of SERIOUS PLAY. Mit Media Lab guru Michael Schrage wrote an entire book on the topica bible of sorts for me. In short, developing and maintaining a Culture of Serious Play is an enormous taskbut a must do task in these hyper-turbulent, innovate-or-die times.

(I urge you to buy the book. AND implement its prescriptions.) FAIL. FORWARD. FAST. High Tech CEO, Pennsylvania FAIL FASTER. SUCCEED SOONER. David Kelley/IDEO REWARD EXCELLENT FAILURES, PUNISH

MEDIOCRE SUCCESSES. Phil Daniels, Sydney exec What really matters is that companies that dont continue to COMPANIES THAT DONT experiment

EMBRACE FAILURE eventually get in a desperate position, where the only thing they can do is make a Hail Mary bet at the end. Jeff Bezos At the heart of the SERIOUS PLAY culture is instilling the essential notion that failure is an expectedand celebratedpart of life for a determined innovator. If things seem under

control, youre just not going fast enough. Mario Andretti, race driver Im not comfortable unless Im uncomfortable. Jay Chiat If it works, its obsolete. Marshall McLuhan And all of it takes place at warp speed

circa 2018. WTTMSASTMSUTFW Hence the expanded version of WTTMSW. WHOEVER TRIES THE MOST STUFF AND

SCREWS THE MOST STUFF UP THE FASTEST WINS !!!!!!!* (*Innovation, all you need to know [more or

less].) What makes God laugh? People making plans. Innovation is messy. Innovation is non-linear. Innovation is a circus. Innovation depends in full on a robust culture of serious play Innovation is fun. Innovation is heartbreaking.

Innovation is not for sissies. If you know where youre heading youre not innovating. If things work out as planned you werent chasing anything interesting. Leading/ Mix It Up/The Hang Out Factor The degree of same same that exists in

organizational settingsespecially and most dangerously at the toois straggering. I call the answer lower-case d diversity. That is, not particularly gender or race issues, but diversity on any and every dimension you can name. It is a/the key to vitality/innovation circa crazy 2018. Diversity: IT IS HARDLY POSSIBLE TO OVERRATE THE VALUE OF PLACING HUMAN BEINGS IN CONTACT WITH


every !!! Axiom: At its core, ( ) relationship-partnership decision (employee, vendor, customer, etc., strategic

etc.) is a decision about: Innovate, Yes or No Please read carefully. Every decision should be examined in terms of the lower-case d diversity lens. EVERY = EVERY.

The Bottleneck is at the 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 Top of the Bottle Gary Hamel/Harvard Business Review On my All-Time Top TEN slides list.

Of the utmost [STRATEGIC] importance. 10-Person BOARD OF DIRECTORS/Fit for the 2018 **AT LEAST TWO MEMBERS UNDER AGE 30. (Youth must be served/guide us at-the-top circa 2017this is rare!!) **AT LEAST THREE WOMEN. (Boards with F-M balance lead to very high relative performance.) **ONE IT/DATA ANALYTICS/SOCIAL MEDIA SUPERSTAR. (Not an IT representative, but a Certified Waterwalker from, say, Google.)

**ONE OR TWO ENTREPRENEURSAND PERHAPS A VC. (The entrepreneurial bent must directly infiltrate the board.) **ONE PERSON OF STATURE WITH A WEIRD BACKGROUND ARTIST, MUSICIAN, SHAMAN, ETC. (We need regular uncomfortable oddball challenges.) **A CERTIFIED DESIGN GURU. (Design presence at Board level is simply a must in my scheme of things.) **NO MORE THAN ONE-TWO OVER 60. (Too many Oldie Boards! Stop. NOW.)

**NO MORE THAN THREE WITH MBAs. (Why? The necessity of moving beyond the emphases of the MBA-standard-predictable-linearanalytic-certified-vanilla model.) (Partial inspiration for this: Cybernetics pioneer W. ROSS ASHBYS LAW OF REQUISITE VARIETY. VARIETY. The diversity of the Board should more or less match [be consistent with] the diversity [madness/2017] of the context/environment.) How does your Board stack up? Leading/

! Culture First Culture eats strategy for breakfast. Ed Schein/1986

MITs Ed Schein is often called the father of the corporate culture revolution. Ive always loved this to-the-point quote. What matters most to a company over time? Strategy or culture? WSJ/0910.13: Dominic Barton, Managing Director, McKinsey & Co.:

Culture. Soon after the research for In Search of Excellence began, total war broke out between me and McKinsey. That, of course, is nonsense. But it is a fact that the McKinsey mantra at the time was strategy first, second, third And what my research was telling me was that the soft stuffpeople, culture, and the likewere the Pillars of Excellence. Well, times do change. To my selfish

satisfaction, the Managing Director of McKinsey appears to be on board, per this 2013 quote. In fact soft-stuff- related work now constitutes a very significant share of McKinseys business. If I could have chosen not to tackle the IBM culture headon, I probably wouldnt have. My bias coming in was toward strategy, analysis and measurement. In comparison, changing the attitude and behaviors of hundreds of Yet I came to see in my time at IBM that

culture isnt just one aspect of thousands of people is very, very hard. IT IS THE GAME. the game Lou Gerstner, Who Says Elephants Cant Dance Lou Gerstner was the captain of the good ship Strategy First in his McKinsey days and beyond.

To his own apparent surprise, a different story emerged as he crafted his storied turnaround of IBM in the 1990s. It IS the Game. Indeed it is!

Starbucks had become operationally driven, about efficiency as opposed to the romance. Wed lost the soul of the company. Howard Schultz on Starbucks problems which caused him to reclaim the CEO job (Shultz calls his association with Starbucks a love story. FYI: Subsequent to Schultzs return, Starbucks has indeed gotten its mojo back!)

Whats remarkable is how fast a culture can be torn apart. top 3M scientist (3Ms Innovation Crisis: How Six Sigma Almost Smothered Its Idea Culture, Cover story, BusinessWeek) Powerful cultures can be built. Powerful cultures can implode QUICKLY. (In both of these instances, the below-thewaterline holes have been plugged.)

(The 3M quote is particularly interesting. A very popular systemSix Sigmamade a godawful mess of the fabled 3M innovation culture. There are a lot of ways to do good things wrong.) CULTURE/CEO JOB #1/THE RULES: CULTURE COMES FIRST. CULTURE IS EXCEEDINGLY DIFFICULT TO CHANGE. CULURE CHANGE CANNOT BE/MUST NOT BE EVADED OR AVOIDED. CULTURE MAINTENANCE IS ABOUT AS DIFFICULT


AND EVER. AMEN. The gospel. (According to me.) Hard is soft. Soft is hard. (You can Google it!)

Hard Soft [numbers/plans] [relationships/culture] is Soft. is Hard. Ive often saidand I mean itthat the last

several decades of my professional life can be summarized in six words: Hard is soft. Soft is hard. That is the so- called hard stuff (e.g., the numbers, the plans, the org charts) are actually soft easy to manipulate. The traditionally labeled soft stuff (e.g., people, relationships, numbers) are the true hard

stuffthe basis for lasting effectiveness. Selling this idea has so far taken 17 books and 3,000 speeches in 63 countries. Progress may have been madebut implementation is still spotty. Hence, I keep on keepin on Far too many companies invest too little time and money in their soft-edge excellence. The three main reasons for this mistake are: 1. The hard edge is easier to

quantify. 2. Successful hard-edge investment provides a faster return on investment. 3. CEOs, CFO, chief operating officers, boards of directors, and shareholders speak the language of finance. Source: The Soft Edge, Rich Karlgaard Soft-Edge Advantages

1. Soft-edge strength leads to greater brand recognition, higher profit margins, [It] is the ticket out of Commodityville. 2. Companies strong in the soft edge are better prepared to survive a big strategic mistake or cataclysmic disruption 3. Hard-edge strength is absolutely necessary to compete, but it provides only a fleeting advantage. Source: The Soft Edge, Rich Karlgaard

Forbes publisher Rich Karlgaards book, The Soft Edge: Where Great Companies find Lasting Success, is a gem through and through. (Which is to say, I agree with pretty much every word.) (And what I doubly like is that Rich is a primo player in Silicon Valleyhence his long paean to soft is particularly surprising,

and hence credible and powerful.) GOOGLE GETS A SURPRISE I Project Oxygen [data from founding in 1998 shocked everyone by concluding that, among the eight most important qualities of Googles top employees, STEM [Science, Technology, Engineering, and Mathematics] expertise comes in dead last. The seven top characteristics of success at Google are all soft skills: being a good coach; communicating and listening

to 2013] well; possessing insights into others (including others different values and points of view); having empathy toward and being supportive of ones colleagues; being a good critical thinker and problem solver; and being able to make connections across complex ideas. Those traits sound more like what one gets as an English or theater major than as a programmer. Source: Valerie Strauss, The surprising thing Google learned about its employees and what it means for todays students (Washington Post, 20 December 2017)

Among the eight most important qualities of Googles top employees, STEM [Science, Technology, Engineering, and Mathematics] expertise comes in dead last. The seven top characteristics of success at Google are all soft skills I was literally staggered. Of course it is a message I have preached for decades (hard is ). But to see the extraordinary confirmation in the most unlikely of places was, yes STAGGERING.

GOOGLE GETS A SURPRISE II Project Aristotle [2017] further supports the importance of soft skills even in high-tech environments. Project Aristotle analyzes data on inventive and productive teams,. Google takes pride in its A-teams, assembled with top scientists, each with the most specialized knowledge and able to throw down one cutting-edge idea after another. Its data analysis revealed, however, that the companys most important and productive ideas come from Bteams comprised of employees that dont always

have to be the smartest people in the room . Project Aristotle shows that that the best teams at Google exhibit a range of soft skills: equality, generosity, curiosity toward the ideas of your teammates, empathy and emotional intelligence. And topping the list: emotional safety. No bullying. ([Tech] billionaire venture capitalist and Shark Tank TV personality Mark Cuban looks for philosophy majors when hes investing in sharks most likely to succeed.) Source: Valerie Strauss, The surprising thing Google learned about its employees

and what it means for todays students (Washington (Washington Post, Post, 20 December 2017) Ditto. Or perhaps even more extraordinary. B players who do all sorts of weird things such as listen to one another. Bless those

AT GRADUATION: Business and professional degree holders in general [MBAs, engineers, lawyers, etc.] have higher interview and hire rates, and higher starting salaries, than new liberal arts grads. YEAR 20: Liberal arts grads have risen farther than their biz-professional degree holder peers. At one giant tech firm, 43 percent of liberal arts grads had made it to upper-middle management compared to 32 percent of engineering grads. At one giant financial services firm, 60 percent of the worst managers, according to company

evaluations, had MBAs, while 60 percent of the best had only BAs. Source: Henry Mintzberg, Managers Not MBAs: A Hard Look at the Soft Practice of Managing and Management Development, More/consistent with the Google findings. By liberal arts grads have risen farther than their biz-professional degree holder peers. year 20 following graduation

(The study from which this conclusion emerged is reported by Henry Mintzberg [there is no one in my arena whose work I more admire] in his book, Managers Not MBAs: A Hard Look at the Soft Practice of Managing and Management Development.) Leading/ Slow Down

Speed. NOT Excellence Thinking Culture Listening Relationships This is effectively derived from the hard is soft/sot is hard analysis above. Everyone

says about the same thing in 2018: FASTER. FASTER. FASTER. And I say thats a load of crap. Hard is soft. Soft is hard. All the items that fall under the gamewinning heading of soft LOTS OF] time. is hard take [ Leading/

X5 EXCELLENCE is not a long-term "aspiration. EXCELLENCE is the ultimate shortterm strategy. EXCELLENCE is THE NEXT 5

MINUTES.* (*Or NOT.) EXCELLENCE is not an "aspiration." EXCELLENCE is THE NEXT FIVE MINUTES. EXCELLENCE is your next conversation. Or not. EXCELLENCE is your next meeting. Or not. EXCELLENCE is shutting up and listeningreally listening. Or not.

EXCELLENCE is your next customer contact. Or not. EXCELLENCE is saying Thank you for something small. Or not. EXCELLENCE is the next time you shoulder responsibility and apologize. Or not. EXCELLENCE is waaay over-reacting to a screw-up. Or not. EXCELLENCE is the flowers you brought to work today. Or not. EXCELLENCE is lending a hand to an outsider whos fallen behind schedule.

Or not. EXCELLENCE is bothering to learn the way folks in finance [or IS or HR] think. Or not. EXCELLENCE is waaay over-preparing for a 3-minute presentation. Or not. EXCELLENCE is turning insignificant tasks into models of EXCELLENCE. Or not. My book was almost titled: Excellence Is the Next Five Minutes. We wanted the title to be more timely, so chose The Excellence Dividend. Fact is, I would have been delighted with next five

minutes. Im not a Zen practitioner or the like, but I do passionately believe it (success/ excellence) is what you do (or fail to do) RIGHT NOW. In the book I quote Linda Kaplan Thaler, who built from the ground up a huge ad agencyand has been inducted into the Advertising Hall of Fame. She explains her success: We never concentrated one minute on the future. We always focused on what can we do today. I always tell people

don't spend one second thinking about a vision, forget about it. Don't dream your way to success. We never thought about becoming too big or hugely successful, we just did the best we could every day. As I said: EXCELLENCE = RIGHT NOW . (Or not.)

Excellence (or not): WHO YOU ARE/WHAT YOU CARE ABOUT IS FULLY REVEALED IN YOUR NEXT 5-LINE EMAIL! Truth! Let me read that email. I contend that your

entire personality and approach to life and leadership will be revealed in those five lines. Excellence?????? Its either imbedded in those five lines. Or its not. Leading2018/ Avoid Moderation You cant behave

in a calm, rational manner. Youve got to be out there on the lunatic fringe. Jack Welch INSANELY GREAT STEVE JOBS, MINIMUM NEW PRODUCT REQUIREMENT RADICALLY THRILLING BMW, SIGNATURE OF A NEW MODEL


2. 3. 4. 5. 6. 7. 8. 9. If it aint broke ... Break it! Hire crazies. Ask dumb questions.

Pursue failure. Lead, follow ... or get out of the way! Spread confusion. Ditch your office. Read odd stuff. 10. AVOID MODERATION! Immoderation for immoderate times.


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