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SUPER SEMINAR
Los Angeles June 2013 Building excellence with global clients:
1
Socrates argued that, “The life which is unexamined is not worth living.”
2
You
are paid to think, add value,
solve problems for others, act AND transact business differently/more EFFECTIVELY/ADVANTAGEOUSLY than anyone ELSE. 3
As you accumulate more skills and internalize the rules that govern your field, your mind will want to become more active, seeking to use this knowledge in ways that are more suited to your inclinations. 4
What will impede this natural creative dynamic from flourishing is not a lack of
talent, but your attitude. Feeling anxious and insecure, you will tend to turn
conservative with your knowledge, preferring to fit into the group and sticking to the procedures you have learned. 5
Instead,
you must force yourself in
the opposite direction. As you emerge from your apprenticeship, you must become increasingly bold.
6
Instead of feeling complacent about what you know, you must expand your knowledge to related fields, giving
your mind fuel to make new associations between different ideas.
7
You must experiment and look at problems from all possible angles. As your thinking grows more fluid your mind will become increasingly
dimensional, seeing more and more aspects of reality. 8
In the end, you will turn against the very rules you have internalized, shaping and reforming them to suit your spirit. Such originality will bring you to the heights of power.
9
Key
is UNDERSTANDING (and
EXCERCISING) the difference between Convergent Thinking and Divergent Thinking.
10
The ability to deduce a single solution to the problem; rule-following or problemsolving.
It generally means the ability to give the "correct" answer to standard questions that do not require significant creativity.
11
Divergent
thinking typically occurs
in a spontaneous, free-flowing manner, by exploring many possible solutions that are generated in an emergent cognitive fashion. 12
Many possible solutions are explored in a short amount of time, and
unexpected connections are drawn.
After the process of divergent thinking has been completed, ideas and information are organized and structured. 13
14
Traveling
outside your
industry/status quo thinking to discover breakthroughs by looking at your situation differently.
15
Top
performing companies in
virtually EVERY industry or market are the ones who engineer the greatest quantity, quality, and consistency of breakthroughs in
THESE high impact areas: 16
Strategy Marketing Innovation
Management
17
No
matter what type of
company/enterprise you run, what wins in business today is not the ability to out-muscle or out-resource the competition…
18
It’s
the ability to out-think, out-
market, out-strategize, outcontribute, out-innovate, out-sell, out-position, and out-connect your competition.
19
By
using far greater, far more penetrating brain power!
20
You
must also learn to use
deductive/inductive reasoning to see implications, correlations, opportunities, threats, trends, and dangers.
21
Deductive: The deriving of a conclusion by reasoning; specifically:
inference in which the conclusion about particulars follows necessarily from general or universal premises.
22
Inductive: Inference of a generalized conclusion from particular instances.
In deductive reasoning, a conclusion is reached from general statements, but in inductive reasoning the conclusion is reached from specific examples.
23
You
must learn to use the 3 sites
(hindsight, insight, foresight) through the lens of critical thinking – to displace dangerous risks with unlimited upside.
24
• Hindsight will help you see exactly where your organization has gone
before, highlighting successes but perhaps more importantly, helping you
to spot situations where the organization has failed to meet expectations. 25
Foresight
will help you see what
changes are coming at you, in your organization, in your market and in the world.
26
Insight -- the understanding of where your organization is positioned “at the moment,” and the ability to plot a route that will take you to the
destination that you have envisioned with foresight. 27
• To exercise hindsight, insight and foresight - and to do so accurately and thoughtfully -- you will find that you need to look within yourself but also beyond yourself.
28
“People
in any organization are
always attached to the obsolete - the things that should have worked but did not, the things that once were productive and no longer are.” -Peter Drucker 29
Once
you grasp all the forces,
factors, laws, trends, psychology affecting/afflicting/impacting your market, industry or consumer…
30
Your
superior interpretation,
reasoning and strategic/proactive thinking, formulation/calculations will allow you to choose the highest and best path(s) to pursue and the least risky options for your business… 31
Do
this and it leaves all the riskier
more speculative, diminishing, dangerous options for everyone else (competition-wise) to follow – not you!
32
Follow
our/my integrative
mindset, methods and processes and your business should grow markedly in proportion to the rest of the competition.
33
If
you pursue the optimal strategy – it puts the rest of the competition at risk – naturally.
34
The reasonably probable and legal use of vacant land or an improved property, which is physically possible, appropriately supported, financially
feasible, and that results in the highest value. 35
The four criteria the Highest and Best Use must meet are: 1. Legal permissibility 2. Physical possibility 3. Financial feasibility 4. Maximum productivity
36
While no specific concept or strategy is guaranteed to hurtle your enterprise singularly into superstardom – the overall effect of the process you’ll learn here this week – by definition must work
better; because of the forces, laws, and factors it will harness… 37
…and the law of mathematics/statistics you’ll be employing.
38
By
making other competitors take more risks – your business should have…
The EDGE!
39
The next 3 days, we’ll be
approaching the concept of business growth, performance enhancement, competitive advantage, value creation, and trust-building “connectivity” from a decisively distinctive point of view. 40
Consider
THIS environment YOUR
opportunity for discovering, evolving and actually testing-out new economic ideas, strategic theorems and marketplace assumptions you may never have embraced. 41
This experience is intended to provide a fresh new slant on
the business of doing business.
Its purpose is to totally shift the way you look at the problem… AND the opportunity! 42
We’ll
teach you to
SEE AROUND CORNERS
43
We
will teach you how to PLAY TO WIN
– not merely stay in the game.
44
We’ll
take a more elevated
approach to connecting all the dots, from a vantage point you probably never considered before. 45
No
matter the business, industry,
product or service category you’re in – it’s a cutthroat environment – IF you play by everyone else’s rules, you could ultimately pay a huge price! 46
Those
who don’t perform, won’t
last. Anyone who approaches things wrong will get trapped and eviscerated.
47
But
what does preeminent
performance, preemptive performance, and superstar performance even look like?
48
If
you don’t have a clue –
we have strong feelings we’re about to share. So
rather than try and ride it
out with sheer bravado… 49
When
the choice is winning or
losing – Choose to WIN!
50
Prepare to challenge, re-evaluate,
expand and totally/utterly shift your current thinking. Take a deep breath – going both to the 60,000 foot level of overview – then down to the deepest depths of transactional implementation and implication. 51
My
focus – your focus for the next 3 days: Clearly understanding and
grasping what’s really going on here in your turbulent, ultracompetitive business world. 52
Then,
to fully grasp all the
distinctions, discoveries and methods to cure “the common way” other competitors try and do business in the 21st century.
53
Get
ready to embrace the
concepts of forward thinking, preeminent thinking, exponential thinking, critical/preemptive thinking, proactive thinking…
54
One
more thing: What are the
consequences if you DON’T change? Lack of profitable growth and a deterioration of all you and your stakeholders have built and created! 55
Let’s
get started… NOW!
56
Seating…musical
Action Planning
chairs
Interactive
Exercises and
Collaborative
homework
Empirically/Case
Masterminding
Lightning Rounds
Transactional
(ADOPT) Adapt &
Translatable
Study Based
Adopt 57
Tools/Techniques to Eliminate Constraints,
Bottlenecks and Logjams in Your Pathway
Making Competition Irrelevant
Shaping the Destiny of Your Business
Future
36 All New Power Principles
58
QPE = Quantum Performance Enhancers Stratagems
How To Build Your Power Team
Adjusting Your Vision for Growth and Higher
Profits
Reverse Engineering Your Target Performance Indicators 59
Influences You Gain/Have Access To: • • • • • •
Industry Compatible Businesses Publications High Profile Users Celebrities Credibility Status
Success Stories You Create: ◦ Testimonials ◦ Case studies ◦ Media 60
How to Understand “Return on Assets”
Ad Clinic/Copywriting Lessons
How to Get the Money for Your Startup or Stagnant Business and What to Do if You Can’t
Ads You Run ◦ Sales ◦ Recruiting 61
Promotions You Do
Sales Efforts You Make ◦ Prospecting ◦ Point of Purchase
◦ Order Department ◦ Customer Service ◦ Appointment Setting
◦ Initial Sale ◦ Up-sell ◦ Down-sell
◦ Re-sell ◦ Cross-sell
62
Leads You Generate: • Online • Offline
• Calls • E-mails • Letters • Referrals
Sales Communication/System You Use
63
Referral systems
Acquiring clients at breakeven up front and make a profit on the back end
Guaranteeing purchases through risk reversal
Host-beneficiary relationships
Advertising
64
Using direct mail
Running special events or information nights
Acquiring qualified lists
Develop a Unique Selling Proposition
65
Brand Repositioning
Distribution Channels
Selling Systems
Prospecting
The difference between mediocrity and
millions is marketing/strategy.
66
Increasing the perceived value of your
product/service through better client education
Using public relations
Delivering higher-than-expected levels of service
Communicating frequently with your clients to nurture them 67
Increasing sales skills levels of your staff
Improving your teams’ selling techniques to up-sell and cross-sell
Using point-of-sale promotions
Packaging complementary products and services together 68
Increasing your pricing and hence your margins
Changing the profile of your products or services to be more “up market”
Offering greater/larger units of purchase
Developing a back end of products that you can go back to your clients with 69
Communicating personally with your clients
to maintain a positive relationship
Endorsing other people’s products to your list
Running special events such as “closed door sales,” limited pre-release and so on
70
Programming clients
Price inducements for frequency
Up-selling, Cross-Selling, Follow-up Selling
Social Media
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Putting
the power of geometry to work for/in your business.
Getting
your business working harder for you than you work for it.
72
Oh
yes – one more thing,
everything we cover, while seemingly somewhat provocative – will be highly logical, wellverified/validated and documented, totally irrefutable. 73
Expect
it to be mind-rattling, and
more than a bit unsettling – but unsettling in the most positive, powerful, and profitable way possible.
74
So
– how DO you create a
competitive playing field that’s tilted decisively to your advantage? How DO you neutralize – and then paralyze the competition? 75
Start
by shifting your own self
image and understand the concept of:
Greatness VS. Mediocrity
76
77
Every human inherently wants to be great. They’re programmed in their
DNA to perform at optimum capacity.
Do you really want to be average?
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Most people deep down, don’t feel right. That’s why there’s dissatisfaction, that’s why there’s unhappiness, that’s why we are supposed to be performing, achieving at a much higher level, and it doesn’t feel right.
79
If
you look at the factor, the
cause, it’s because we have been allowed to operate in a world of mediocrity.
80
STEP 1:
People don’t have an idea, or a picture in their mind’s eye of what greatness looks like.
You need a clear-cut picture of what it looks like, almost as a CAT scan, three-dimensional view. What it looks like and feels like for the receiving side.
From all impact VANTAGE points. 81
STEP 1:
82
STEP 1:
We need some kind of reference to know what greatness is supposed to
look like. Not just one-dimensionally, but multi-dimensionally, in every implication and application of our lives. 83
STEP 1:
The greatest determinant of greatness, ironically and success in the 21st
century, is going to be our ability to collaborate, creatively and
cooperatively with others who have pieces of the puzzle we don’t. 84
STEP 1:
Greatness is relative. We’re not one size of greatness fits all.
We just need to figure out what greatness is within us.
Remember, you’re programmed for greatness. 85
STEP 2:
You have to figure out what path will
get you to a better place.
There are lots of ways to get an outcome, but there’s almost always going to be one way (and it’s going to be different for each person) that’s faster, safer and more fulfilling. 86
STEP 2:
Example: We want to go on vacation. What path is going to get me there?
A lot of people thwart themselves. They choose a path that’s ahead of them. oExample: Olympic pole vaulter 87
STEP 2:
What path is going to get you there, not just the quickest, but the safest and most enjoyable? If it’s painful, everything is stretching. Optimum isn’t just the highest and best. It’s the highest and best path, for you. 88
STEP 2: The
wonderful thing about the
world today, about the human being is that we have a lot of paths to get us to our greatest outcome. 89
STEP 3:
The third step is having enough confidence and giving yourself permission to start walking down the path to your greatness in as many different categories as you can pursue. 90
STEP 3: Don’t
try to do everything
concurrently, because it will diffuse.
91
STEP 4:
Few people have someone who’s willing to intervene and help get them back on track and course-correct.
People need someone to believe in them and advocate a champion long enough to where the momentum, velocity and the force going forward will take over and propel you to your
greatness. 92
STEP 4:
Even if they have enough fortitude, courage, desire or perception of what’s on the other
side of the mountain, to get started, what frequently happens in every form of human
endeavor is: the first time you try something and it doesn’t execute very well,
you get derailed. 93
STEP 4:
Important: You want somebody who has
an extraordinary hopefulness for you because he or she knows how much more is possible.
Somebody who’s been there and done that. 94
STEP 4:
You want somebody who’s got an
understanding – clinically, critically, transactionally and empirically.
They have to be able to be PREEMINENT.
Preeminence is another way of articulating greatness. 95
STEP 4: A
really great mentor has the
ability to really see within you, what you can be, and what you can be in many dimensions. 96
1.
What is greatness supposed to look like?
2.
How can you get there? What path do you need to take?
3.
Have enough confidence and give yourself permission to
start walking down the path to your greatness in as many different categories as you can pursue. 4.
People need someone to believe in them and advocate a champion long enough to where the momentum, velocity
and the force going forward will take over and propel you to your greatness. 97
The real beauty is, giving back.
What life is all about is the process.
Any time you get the chance to spend any time
with anyone, you come together for any reason, for any amount of time, make the other side
better off because you were in their life, whether it be a moment or not. Our job is to add value. 98
99
So
– starting your paradigm “reset
switch,” the question becomes:
Greatness OR Mediocrity? The choice IS yours!
100
Okay,
so – I presume you want to
perform at the upper strata of greatness!
101
So
first, in order to be great, you need to identify…
102
The
most significant shifts in
business affecting, afflicting, impacting your business.
They include: 103
The ROA Performance Gap between winners and losers has increased over time, with the “winners” barely maintaining previous performance levels, while losers experience rapid deterioration in performance. 104
The “topple rate,” the rate at which successful companies lose their leadership positions, has more than doubled -- indicating that “winners” are in precarious positions even as they “seemingly prevail”. 105
Competitive Intensity in the United States has more than doubled during the last 40 years. Now doubling every
year. 106
The
performance of U.S. firms is
deteriorating, yet the benefits of productivity improvements appear to be captured in part by few creative talent.
(***Example from The New Multi Nationals)
107
Customers and clients are gaining and using their market power by increasing both Consumer Power Downward Pricing Pressure and Brand Disloyalty.
108
The exponentially advancing price/performance capability of computing, storage, and bandwidth is driving an adoption rate for our new “digital infrastructure” that is two to five times faster than previous infrastructures.
109
Firms have untapped opportunities to reverse their negative performance but they have to embrace “pull.”
110
1. To apply force to so as to cause or tend to cause motion toward the source of the force. 2. To remove from a fixed position; extract
3. To tug at; jerk or tweak. 4. To rip or tear; rend. 5. To stretch, repeatedly.
6. To strain, injuriously. 7. To attract; draw. 11 1
This
can only happen if
companies encourage passionate/purposeful workers at every level.
112
Separately, businesses must tap into
knowledge flows and expand the use of power/leverage tools such as social software to solve problems more efficiently and connect more effectively as they discover emerging fraternities. 113
Digital
technology has totally
changed the business landscape.
114
Welcome to a Global Economy
Digital media has helped businesses to reach a global audience socially: ◦ Twitter ◦ Facebook ◦ YouTube ◦ LinkedIn ◦ Google +
115
Project Management & Collaboration Tools
These tools help businesses stay on track with projects especially when members of the group are in different locations: ◦ Basecamp ◦ Asana ◦ WorkZone ◦ ProjectSpaces 116
Web Conferencing:
GoTo Meeting
Cloud/Storage:
Dropbox
Evernote
Google Drive 117
Voip:
All Communication (voice, email, IM, fax and
video) has become more accessible and integrated through the internet and the use of Voice Over Internet Protocal: ◦ Skype
◦ Cisco ◦ Avaya 118
Research and Analytics:
Hoovers
Salesgenie.com
Glassdoor
CRM
Salesforce.com, Zoho
Software as a service, Oracle 119
Communication Travels Faster:
Twitter – (140 characters to get your message out)
Facebook
LinkedIn
YouTube
Instagram
Glassdoor 120
Other Technology Platforms
HootSuite
Tweet Deck
Square – gives local merchants ability to take credit card’s
121
122
The key drivers of performance in
our business world today are hugely shaped by digital infrastructure.
The flows of knowledge, capital, and talent provide greater advantage or disadvantage and amplify the impact of both ways. 123
Emerging
markets increase
their competitive level and global power. Finding
skilled workers is the
top problem in 2013. 124
It
is certain competition will be
more aggressive: thus optimization performance and talent management will be key to thrive and survive. 125
Most
organizations are not
investing enough or developing their talent. They
are developing only
operational/tactical, not the strategic skills in their team. 126
BRICS: An acronym for the combined
economies of Brazil, Russia, India, China and South Africa that are distinguished as
emerging-market powerhouses with the potential of being the most influential economies in the 21st century.
BRICS markets will continue to drive global growth and power. 127
Emerging markets will not only be a source of significant revenue growth for your business but also a source of new talent, true innovation and groundbreaking
approaches to business which they will leverage on a global scale.
“Emmanuel Roman, global consumer products market leader, Ernst and Young”
128
The answer - as with most threats – is
to get out in front of it and harness it. The foreign company will learn your market eventually. Why not be the one to teach them – in other words shift your way of thinking from competitor to partner. You might just find a wealth of opportunity awaits you. 129
Skepticism
and denial are,
unfortunately blinding many people to those new realities.
130
Turning
challenges into
opportunities through a new mindset.
131
With every challenge there are
multiple solutions and different definitions of “problems,” resulting in differing attitudes, some proactive – some passive. The proactive, accurate
thinker CEO/entrepreneur sees difficulties as challenges, opportunities and even games. 132
How
many paths could you pursue – let’s count the way.
133
Challenging
economic times today
present extraordinary
opportunities for proactive organizations to grow and be successful…
134
Tri-Dimensional Printer : makes a 3-D solid object of virtually any shape from a digital model. "Strategic Value Innovation" (2006) - Carlos Dias. Now there are a number of companies manufacturing these printers which offer fantastic opportunities to entrepreneurs. Small printing company leveraged Apple iPad. 135
What is the opportunity cost of accepting old, obsolete assumptions and paradigms?
YOGURT EXAMPLE:
2005. In the yogurt industry, Dannon, Yoplait and Kraft are the dominant players in the US. Their products are specifically formulated for the U.S. consumer... 136
137
Hamdi Ulukaya, CEO of a small cheese company in upstate New York. A native of Turkey, raised on Greek style yogurt. Recognized the opportunity to introduce Greek style yogurt to the US market. He bought an old Kraft Foods yogurt factory. In 2007, he introduced his Greek style yogurt which he called Chobani -- to the US consumer. 138
Chobani - startup, in 2007 - the year
when the rest of the world experienced a financial crisis and the beginning of a recession: zero dollars.
Chobani sales in 2012: one billion dollars. 139
QUESTION: Why was Ulukaya able to succeed, when the rest of the world was struggling?
ANSWER: Ulukaya had the ability and willingness to question outdated assumptions - and look forward rather than backward. 140
“The
1st one gets you the oyster, the 2nd one gets the shell.” – Andrew Carnegie
Be 1st. Get the oyster. Better still, get the pearl. Carlos Dias 141
You
must learn to become an
accurate, strategic thinker and become able to apply new concepts/new rules that can be confusing and intimidating to the competition. 142
Accurate thinking strategists are willing to see the fundamental truth in business today – that a “Big Shift” is occurring; a “New Normal” is emerging.
An accurate thinking strategist CEO thinks of his or her organization as existing within an ecosystem. 143
An
“ecosystem” is a complex set
of relationships among the living resources, habitats, and residents of an area.
144
Tacticians ask: “How can we dig faster?”
By contrast, accurate thinking strategists think longer-term, using foresight. Their focus is on effectiveness - figuring out what change is coming, so you can do the right things.
Accurate Thinking Strategists ask: “How can we be sure we are digging in the right place?”
145
Most
books and instruction
programs fail to show the entrepreneur how to take the incidents of success and apply them directly to your business in today’s decisively turbulent environment. 146
Knowing how to manage the amount
of information that is now available is daunting. Dealing with information overload and understanding how to select appropriate information for your unique business situation is the critical distinction you must MASTER. 147
You
need a discriminator/
denominator/relevancy or applicability template or formula.
148
Most
entrepreneurs and CEOs do
not possess common sense and self-awareness.
149
Common
Sense:
Sound practical judgment that is independent of specialized knowledge, training, or the like.
150
They
don’t understand the role of
emotional intelligence in the life of a successful leader. They
don’t grasp social
intelligence or return on assets. 151
Playing
to WIN means:
152
Putting
the power of geometry to work for/in your business.
Getting
your business working harder for you than you work for it.
153
Two
kinds, good and bad (like cholesterol)
Costs
you the same no matter what the result
154
Ads
Leads
Conversion
Sale
Resale
Sales call
Etc. 155
Buying trends Educational options Competitive choices Value determination Alternative means/choices Industry Outlook Necessity/Luxury Inertia Factors (Rich Schefren) 156
General economic situations Price competition Need to continually innovate Attracting/affording the right skill set Market conditions Competition Price of marketing/selling/raw material/familiar goods Cash-flow/controlling costs 157
2%
of all occurrences and
common outcomes in your business life are acts of God.
158
98%
are the result of actions or
inactions you take…of factors, forces, elements that you either proactively control – or you let control you and your business jet stream/multiplier/diminisher (example tests) 159
Think
more like an entrepreneur
than a proprietor. Peter
Drucker defines “proprietor”
as a business owner who adds nothing meaningful to the market. 160
Hidden
assets
Overlooking
activities
Underperforming Untapped
activities
markets
Distribution
channels
161
****
162
“This
defines entrepreneur and entrepreneurship:
The entrepreneur ALWAYS searches for change, responds to it, and exploits it as an opportunity.” -Peter Drucker 163
164
165
Build: To form by ordering and
uniting materials by gradual means into a composite whole. ◦ (construct, piece, set up, assemble, fabricate, make, make up, put up, raise,
put together)
166
Construct:
To make or form by
combining or arranging parts or elements. ◦ (concoct, contrive, invent, devise, manufacture, drum up, excogitate, fabricate, make up, think (up), trump up, vamp (up)) 167
Evolve:
Develop gradually,
especially from a simple to a more complex form. ◦ (elaborate, develop, unfold)
168
169
Derived
from the Greek word –
‘stratēgia’ High-level
plan to achieve one or
more goals under conditions of uncertainty. 170
A
plan of action or policy
designed to achieve a major or overall aim. An
idea or a plan of how a specific
goal can be accomplished. 171
War
definition: The art of
planning and directing overall military operations and movements in a war or battle.
172
The
science and art of disposing
and maneuvering forces in combat. A
conceptual action implemented
as one or more specific tasks. 173
Isolated actions or events that take advantage of opportunities offered by the gaps within a given strategic system.
An action you take to carryout your strategy. 174
Strategy ◦ An adaptation or complex of adaptations that serves as an important function in achieving
evolutionary success. ◦ In contrast to tactics, strategy's components include a long-range view, the preparation of resources, and planning for the use of those resources before, during, and after an action. 175
Strategy In warfare - coordinated application of all the forces of a nation to achieve a goal.
The utilization during both peace and war, of all of the nation's forces, through large scale, long-range planning and
development, to ensure security and victory. 176
A business strategy is different from a tactic in that different tactics may be
deployed as part of a single strategy.
Strategy is the overall campaign plan, which may involve complex operational patterns, activity, and decision-making that lead to tactical execution. 177
◦ A constant rate of growth applied to a continuously growing base over a period of time.
178
EXAMPLE:
A = Pert, where "A” is the ending amount of money you have, "P” is the beginning amount of money you have, “e” is the mathematical constant, "r” is the growth or decay rate, and "t" is time.
179
The equation reflects the extraordinary power of exponential growth by showing that even though the rate at which your money grows is still constant at different times, a change in time grows your initial value of money significantly. 180
For example, an increase in time from 1
year to 2 years would make your initial money simply double in linear growth.
However, in exponential growth, your money increases by more than double due to the exponential form.
181
Strategy
vs. Tactics
Understanding
value/lifetime value of client.
Understanding
difference between enduring
sustaining creator of recurring income and value. Understanding
value creation for others.
Understanding
Optimization and all forms. 182
Understanding psychology of market.
Understanding all facets of leverage.
Understanding how a real business is grown.
Difference between lifestyle business and asset/wealth creating enterprise. 183
Understanding true value creation for yourself/stakeholders.
Understanding process implications and implementation.
Understanding the difference between breakdowns and breakthroughs. 184
Thinking more like an empire builder than a cliffhanger/spectator in the stands who’s
merely watching – not playing the game.
Acquiring businesses.
Penetrating new markets .
Acquiring/utilizing new and more resources
185
Expanding business model.
Constant, never-ending improvement.
Acquiring/introducing new products and services.
Making growth a natural part of everyday thinking.
Starting with the end in mind. 186
187
Profit Sales
vs. Earnings vs. Revenues
Systems Business
vs. Ad Hoc
worth more when you
sell it than it ever earned you as the operator.
188
Self-image
189
95%
of all small business owners never realize their goals.
Why?
190
They
don’t have highly
integrative, budget-formulated, highly defined/reverse engineered goals. (performance-correlated) They
have abstract macro-
theoretical hopes and dreams. 191
192
Liquid Assets vs. Pre-Liquid Asset Management
Jay Abraham & Tom O’Neill
193
Where does business wealth come from? Most liquid assets originated
from ‘pre-liquid assets’ –- operating businesses.
Yet, discipline that people applied to liquid asset management is usually not applied to business pre-liquid asset management.
T.O. 194
Example: Residential real estate,
landscaping companies, training companies, furniture stores.
But to strategically maximize value of the asset, you must look at the big picture. ◦ Weak points, fulcrum points. ◦ Spend money that would drive the maximum value. T.O. 195
It
is insane how much money is
left on the table when the average person sells their business, and these professional investments. Acquire
it – or it doesn’t sell and
gets closed down. T.O. 196
Why own Private Companies if you’re not going to maximize all full aspects of it’s wealth creation value?
T.O. 197
Most
people don’t even know
what sort of rate of return they’re getting. There’s a difference between a typical manager of business and the wealth manager of asset portfolios. T.O. 198
The amount of sales generated for every dollar's worth of assets. So, it measures a firm's efficiency at using the assets in generating sales or revenue – the higher the number the better. 199
For most entrepreneurs, 100% of what
they have is just the failure or success of their business.
For that reason, your business absolutely deserves more of a
methodological approach than you’re giving. T.O. 200
Flexible lifestyle
Strategic control
Product passion
Employee loyalty
Family continuity T.O. 201
Non-economic
and economic reasons
T.O. 202
Flexible
lifestyle, the controlled
feeling in control, might be passionate about the business or product service for people.
T.O. 203
From
an economic standpoint –
really only one reason to own a business. It has to beat your next best alternative for that deployment of that capital. T.O. 204
There’s
only one reason for you to
keep doing it – from a pure investment standpoint: because it’s a better return than your next, best alternatives. T.O. 205
Reality
is that most businesses do
not meet the market.
To beat the market… T.O. 206
There
needs to be what’s called a
knowledge symmetry (Tom O’Neill) you can take that knowledge is a symmetry and decimates the playing field. T.O. 207
If
your business was a mutual fund...would YOU buy it?
T.O. 208
Most
entrepreneurs typically don’t
think of their business as an investment.
T.O. 209
If
you had 3 mutual friends (one producing 5%, one producing
15%, and one producing 20%, year in and year out), would you allocate the same capital to all three? T.O. 210
Average small business owners who never sell – either close down or go bankrupt.
Yet average larger companies 10
million+ sell once every 9 years usually to a private equity firm or strategic investors. T.O. 211
Why
own your business if you’re
not going to maximize all 5 aspects of its wealth creation value?
T.O. 212
1.
Multiply current income.
2.
Create far greater future income.
3.
Ethically exploit windfall income opportunities internally and externally.
4.
Achieve monster-size psychic emotional
wealth. 5.
Position your business for future sale at the maximum value and worth possible. 213
1.
Current Income – Constantly
increasing current income and profits is the first determinate of business wealth creation.
214
2.
Future Income: If your business
doesn’t have highly predictable, strategic, long term revenue-generating programming in place, that assures continuous flow of profits and sales well into the upcoming years --- you DON’T have a business at all. 215
3. Windfall Income – There is no business out there that cannot uncover a five to seven figure profit windfall within six months.
216
4.
Psychic/Emotional Wealth – Unless you
have the certainty, confidence, peace of mind, vision, low stress, control, power, persistence, perceptiveness, high ethical standards and unstoppable drive, you can’t possibly pilot the strata of unstoppable
business growth and income you’re after. 217
5.
Asset Wealth – Few business owners
ever build a business they can sell for a lot more money than they take out of it in a year. Yet a business’ asset value should be one of the major wealth
creations you achieve from your business efforts. 218
When
you look at things
(in multiple elements in a business), you can categorize them in 2 ways: 1.
Out of your control
2.
Within Your Control T . .O. 219
Industry factors
Stock market
Capital markets
Local economy
Regulatory changes
Interest rates T.O. 220
Growth
rate
Balance
sheet
Quality
of earnings
Predictability
of earnings T.O. 221
All
things being equal, the more
earnings you have from the more broad/diversified buyer base/sourcing base, the less risky your business is. T.O. 222
Increase
your sales and growth rate and…
T.O. 223
You
can increase the predictability
and sustainability of earnings. (If you are a strategic thinker.)
T.O. 224
You
can decide to concentrate or spread your risks.
T.O. 225
People Risks and Talent Risks
Market Risks
Marketing Risks Positioning Risks
Competitive Risks
Technology Risks
Alternative Means Risk
Etc.
T.O. 226
Key
point is you have to be
beating the market or you shouldn’t be in the business.
T.O. 227
Either re-think your strategy and make the asset produce what it should – or
liquidate it and give the resource to someone who can get you a rate of return that you’re not getting.
Outsource the capital essentially to an
investment fund. T.O. 228
It’s
a very simple concept (Tom
O’Neill) but how many people actually apply this thinking to their business?
T.O. 229
Apply
the same methodology that
professional investors apply to their investments to YOUR enterprise/business/ actions/activities. T.O. 230
Understand
your
micro-investment portfolio
T.O. 231
What
that means is you’re the
investment and business. An investment within the business. Must look at cost of acquisition vs. lifetime value. What is the implied yield? That’s an investment! It’s not expense. T.O. 232
These
are all things that you
either pull risk out of the business or put risk into the business.
233
Proprietors
think in terms of revenues and expenses.
Professionals
think in terms of yield, three-dimensional/value creation.
234
Not just revenues and expenses: ◦
3rd dimension is your relationship between expenses – really the
investment you’re making and payout. T.O. 235
You
never write a check in
business if you don’t believe it’ll produce some kind of return – do you? As
an investor, that would be insane! T.O. 236
You
never hire anyone if you think you can make you money.
T.O. 237
Two
ways to enhance returns:
1.
Make new investments.
2.
Maximize return on existing investments. T.O. 238
Deploy
new risk capital (increase
my principal). Find
ways to maximize the yield
on the capital that I’ve already deployed. T.O. 239
Example:
You can add 20 more salespeople … OR
You
can find ways to get more productivity out of the people you already hired. T.O. 240
That’s
really where most of this
process and program will focus – leveraging the geometry of your business.
T.O. 241
It’s
very simple to understand
intellectually – that putting into practice in your business takes a discipline/operating/ implementation/ execution strategy. T.O. 242
Find
it in 3 ways/forms:
1.
Capital reallocation gains
2.
Process improvements
3.
Multiple expansion T.O. 243
1.
When you reallocate capital, you have to measure relative performance of the current process there.
2.
The higher yielding processes pragmatically get more capital to allocation.
T.O. 244
1.
Customer/Client Lifetime Value
a) I.e.: Average order size/frequency/gross profit 2.
Customer Acquisition Cost T.O. 245
Remember,
higher-yielding
processes get more capital. Lower-yielding
processes don’t –
unless…
T.O. 246
They
have a different strategic purpose and value.
T.O. 247
Critical ◦ 1. Product Development a) Creating or Originating products and services for which the expected revenue significantly exceeds the cost of fulfillment.
This should be a continuous process as it directly feeds into Customer LTV Maximization. b) If this process is “sick” no amount of sales, marketing, or process optimization will cure it. T.O.
248
◦ 2. Customer Acquisition a) Lead Generation b) Conversion c) Sustaining d) Utilization e) Redeployment T.O. 249
Important 1.
Customer LTV Maximization
◦ a) Transaction Maximization (1) Up-selling (2) Cross-selling T.O. 250
a) Elimination (Don’t do it) - getting rid of non-productive products, processes, etc.
b) Automation (Have a machine do it) - using
tools or software to automate as many functions as possible, thereby reducing the cost per transaction. T.O. 251
c) Outsource (If people must do it) chances are good that someone has already created an efficient, costeffective system for performing your
desired function.
Find it, and use it. T.O. 252
d) Systematization (If you must have people do it, and can’t effectively
outsource it) - create and document a system for it. ◦ (1) Create IP here when you can to preclude competitive duplication. ◦ (2) Offer this as a service to monetize your
“overhead” where applicable and desirable. T.O. 253
Strategic
1. KPI/Yield Analysis ◦ a) This function is critical to ensure mid and long-term health, and ultimately exit value of your business. ◦ b) Indication of the health of your
business and effectiveness of your strategies. T.O. 254
(1) New Customers Acquired
(2) Customer LTV ◦ (a) Average Order Size
◦ (b) Average Order Frequency ◦ (c) Average Length of Relationship
T.O. 255
Most entrepreneurs have the wrong skills to succeed in turbulent times – your old skills are unsuited to the challenges of the new world.
256
Hindsight is the understanding of a situation only after it has happened.
So "hindsight benchmarking” was a great way
to do in a static world. Not anymore. In a dynamic non-linear world the future is different to the past. Thus, practicing "hindsight benchmarking" become risky and suicidal today! 257
But
the “New World” asks for
insight based on foresight and accurate thinking.
258
The Hidden Art of Foresight
Greatness cannot be achieved by looking in the rear view mirror. And you certainly will not get there by standing still, and waiting for outside events to decide your fate.
To achieve CEO greatness - you need to build a new skill set: You need to master the art of foresight! 259
“ Foresight is the ability to predict what is
likely to happen - and use this information to prepare for the future.” Strongly believe that foresight is the most important skill for a CEO today. In our fast-moving world, foresight empowers a CEO to take advantage of opportunities that present themselves - and to avoid problems that will trap organizations that are still looking backwards.
260
The Foresight Myth
Your competitors would like you to believe that foresight is an innate gift, akin to biblical prophecy. Either you were born with it, or you are out of luck. Actually, foresight is more like athletic talent. Some of us were born with more athletic talent, and some with less. But all of us - no matter what level we began at - can improve with practice. 261
The same is true with foresight. It’s a skill set
that can be acquired. You can build your foresight muscles - and become that strategic, accurate thinking CEO who can “see
around corners” and prepare your organization for what is coming at you.
But, just as in athletics, it will take work. It will take dedication. 262
The Need for Accurate Thinking
But work and dedication won’t be enough! For you - to develop your foresight to its fullest potential, it will also take careful, consistent, guided practice with an accurate-thinker mentor
– not a tactician. 263
Why?
Because tacticians, almost by definition, do not look forward. They tend to reason from hindsight, to make short-term decisions based either on what worked for them in the past. 264
Tacticians ask: “How can we dig faster?” As a result, tacticians ask the wrong questions.
Accurate Thinking Strategists ask:
“How can we be sure we are digging in the right place?” 265
By
contrast, accurate thinking
strategists think longer-term, using foresight. Their focus is on
effectiveness - figuring out what change is coming, so you can do the right things. 266
The
Concept of
“Leverage Marketing” taken through it’s totality
267
“Give
me a lever long enough and
a fulcrum on which to place it, and I shall move the world.”
-Archimedes
268
It’s all about leverage: Working on the “geometry” of your business
Two kinds, good and bad (like cholesterol)
Costs you the same no matter what the result
269
****
270
The
concept of optimization,
explained, explored, evaluated. (Highest and Best Use)
271
Webster’s Dictionary Definition of
“Optimization”:
An act, process, or methodology of making something (as a design, system, or decision) as fully perfect, functional, or effective as possible. ◦ Synonyms: improve, enhance, correct, remedy, improve on, boost, enrich, revitalize, maximize
272
You
can’t optimize until/unless
you understand recognize all the best options, approaches, paths, strategies, tactics, possibilities available. 273
274
1.
Ideology
In your marketing you have the greatest upside
leverage environment imaginable.
First thing you do is an internal marketing audit and inventory. 1. Look within your organization and see who else does what you want to do better.
2. Go outside your company. 3. Go outside your industry, to related industries, and look at their best practices. 275
2. Strategy
The easiest and fastest way to instantly transform your business results is to change the strategy you
follow.
Most companies, are not even strategic. They are tactical.
Changing your strategy will make huge differences in
your results and outcome. 276
3. Capital
Includes human capital, intellectual capital and financial capital.
If you can get everybody performing higher you’ve got incredible leverage. How do you do it?
277
◦ 3. Capital (continued) ◦ Do you train your selling people in formal professional consultative selling? ◦ What about your own capital expenditures?
◦ Question the capital expenditures you’re making and the ROI (Return on Investment), the ROE (Return on Effort), the ROP (Return on People), the ROA (Return on Activity), and the ROO (Return on Opportunity) ◦ You’ve got a responsibility to get the highest and best yield. 278
4. Your Business Model
The business model is different from strategy. It’s
basically the means you’re using to affect or achieve your strategy. It’s different than tactics.
The model is the whole integrated approach. I.e.: In the Halcyon days of the Internet, the business model was
the “first-mover-advantage” and “buy-critical-mass,” then figure out how to “monetize” or profit from them later. 279
4. Your Business Model (continued)
The business model you follow can make all the difference in your profitability and there’s enormous leverage here because you can change one element and it could change everything. 280
5. Relationships
What are the various leverage relationships you have?
The business, professional, collegial, and mastermind relationships you have - ALL these offer you incredible upside leverage potential. 281
6.
Distribution Channels and Markets You have a number of unrecognized distribution channels you don’t fully
maximize and there’s enormous leverage in them.
282
6.
Distribution Channels and Markets There are so many areas of distribution that you have unknowingly created that you don’t really think about (I.e.: suppliers,
clients’ clients). It’s figuring out where your best leverage lies and maximizing it.
283
7. Your Products and/or Services Current/Additions
Two other enormously effective ways to transform the performance, the results and
the corresponding profits and wealth creation your business can generate for you are to
create new markets and/or new products. 284
7. Your Products and/or Services Current/Additions (Continued)
How many other places could you take your existing product, service or combinations or variations of them and apply it to other fields or other regions or buying groups. Or could you license other people to use it? 285
8.
YOUR PROCESSES, YOUR PROCEDURES, YOUR SYSTEMS
Every business mechanism can be broken down into its driving processes and sub processes. Once you figure out what the processes driving an activity are, they can
be measured, they can be quantified, and they can be vastly improved. 286
9. Your Ideology
What is the belief system that drives you?
If your belief system is you’re only going to work from 8 to 5, 5-days a
week, you’re not going to be able to embrace things that take more time and effort. 287
“Wrestle
the bear to the
ground.”
- Fran Tarkenton
288
PART I: Cognitive Intelligence The Accurate, Creative Thinker
Strategic acuity is the most important competency for a 21st Century leader.
289
To succeed in a turbulent world, CEOs and senior executives require strategic
acuity – the ability to evaluate information and re-conceptualize your business in response to that information.
The only way to develop strategic acuity is through continuous learning.
290
To achieve Strategic Acuity, you must commit to an ongoing learning process:
-Acquiring information through a program of serious reading of books and materials from trusted sources.
-Evaluating new information by filtering it
through an internal “crap detector.”
291
-Transforming information into knowledge by applying a context to it. Think of this as mentally putting your new information into the appropriate
file folder.
292
-
Transferring the knowledge into
a skill, that you can apply as you craft or execute a strategy.
293
Your
knowledge is becoming
obsolete but you probably do not know it. Your
experience can trap and
mislead you. 294
If
you are operational driven, as
most organizations are today, you cannot rely on your organization’s training programs to build strategic acuity. 295
To develop your own strategic acuity, you must: ◦ Reprioritize your time so you are investing a minimum of 8-10 hours per week to educate yourself in fields adjacent to your industry.
◦ Refuse to rely on sources that are not credible. ◦ Resist the temptation to multi-task. 296
PART II: Emotional Intelligence The Self-Aware Leader in a Fast-Moving World
Who you are as a person will directly impact your business progress.
Do not let cognitive dissonance distort your ability to see reality. 297
Self-awareness is your best weapon against denial.
To be successful in growing your business, you must first grow your
Leadership Mindset. 298
You
must master your own
mind before you can master your business.
299
◦ Values Navigator
◦ Thought Control ◦ Avoidance of Denial and Normalcy Bias ◦ Refusal to React with Fear, Anxiety or Anger ◦ Repudiation of Greed and Pride 300
The Value of Social Intelligence
Your Social Intelligence -- how well you are able to relate to others -- will determine your success as a leader.
301
You can build your Social Intelligence through these practices:
◦ Whole brain listening ◦ Personality types ◦ Empathy ◦ Resilience ◦ Enthusiasm ◦ Tact 302
Whole brain listening:
Whole brain approach requires you to use both your right side of the brain and the left side of the brain. With the right brain learning
to relax, gain confidence and become aware of your own communications and with the left brain, learn to become better in-tune with the
emotions of those you communicate with. 303
Personality types: Personality types can be grouped into four classifications: Analytical 2. Driver 3. Amiable 4. Expressive 1.
304
Once
you are able to identify an
individual’s personality type, you can adjust your means of discourse and activity to fit each individual’s personality type. 305
Empathy:
Empathy is about understanding the views and experiences of those around you—emotionally as well as intellectually.
306
Resilience: The
ability to recover from
setbacks and pivot to new goals.
307
Enthusiasm:
Enthusiasm is about giving your colleagues and direct reports feedback
and support and embracing the progress they’ve made. It is also about your presence and focus on other people’s
work and careers. 308
Tact:
Tact is the ability to deal with people
without causing friction or giving offense, while still communicating truthfully and with clarity.
309
PART III: Business Intelligence The Principles of Business Intelligence
In business as in other complex social and economic situations, a set of principles operates that can be difficult to discern in our
day-to-day lives. Effective CEOs must grasp that these principles are as immutable as the laws of science, economics or physics. 310
Principle 1: Profit isn’t enough to sustain business progress ◦ Focus on optimizing these variables: Actual net sales and assets velocity. Predictable revenue streams.
Reduced variability in performance. Unique perceived customer value. 311
Principle 2: Foresight IQ is mandatory for business
Foresight is the rare ability to predict what is likely to happen and to use this to prepare for the future. Only 5 out 100 global executives have this like gold dust ability.
312
Principle
3: Momentum is a three-
dimensional force.
313
Principle 4: A trained Internal Advisory Group Board is the key to 21st century success.
Principle 5: Every business is an ecosystem and every change makes a difference. 314
In chaos theory, the Butterfly Effect is the sensitive dependence on initial
conditions, where a small change at one place in a deterministic nonlinear system can result in large differences to a later state. 315
The name of the effect, coined by Edward Lorenz, is derived from the theoretical example of a hurricane's formation being contingent on whether or not a distant butterfly had flapped its wings several weeks before.
316
Seeing
Correlations,
Implications, Aberrations, and Permutations
317
Adjusting the business vision Creating and delivering a unique client value proposition Creating and executing a winning strategy
318
Developing, implementing and evaluating powerful sales and marketing strategies Continuously creating new and unique
products and services Leveraging the power of human alignment 319
Talent Intelligence Six
foundational competencies for
achieving self-actualization as a leader:
320
1.
Decision making
2.
Communication
3.
Goal attainment
4.
Business life management
5.
Applied emotional intelligence
6.
People development
321
Intellectual capital:
Collective knowledge (whether or not documented) of the individuals in
an organization or society.
This knowledge can be used to produce wealth, multiply output of physical
assets, gain competitive advantage, and/or to enhance value of other types of capital. 322
Leveraging Intellectual Capital
This is the best opportunity to increase return on assets, which are too low in most organizations.
As a CEO, you can achieve greatness by building a Preeminent business. 323
The concepts are designed to help you get rid of outdated mental models
that were designed for yesterday’s more linear world, and instead adopt a Strategy of Preeminence that is optimized for success in today’s turbulent, complex reality. 324
How?
325
Your organization contains a multitude of unexploited resources that represent a “mother load” of wealth for your organization – but you
require strategic acuity to see and exploit this hidden wealth. 326
Carlos Dias
Jay Abraham 327
There is a price, one that many CEOs fail to recognize…
The price you pay in lost opportunity. Because not every business has allowed itself to get stuck. Not every business is wallowing in inertia. They are finding new ways to engage with customers - your customers. 328
They are finding innovative new products to bring to market - your market.
They are accumulating cash - cash that could have been yours - and they will soon be investing it to grow their businesses. They are gaining on you - and if you continue to stand still, you can be sure they will overtake you!
329
We’re living through turbulent times. Turbulent times are scary, because they disrupt the normal, familiar status quo. But there are two sides to that coin. Because an environment that is disrupted is an environment full of opportunity. 330
So why should you benchmark best practices from leading companies when before you master them, they become obsolete?” ◦ Financial Times, December 23, 2010
• In a fast-moving non-linear market, benchmarking and traditional operational management planning models no longer work. 331
Opportunity Costs in the Real World – A Case Study What
is the opportunity cost of accepting old, obsolete assumptions and paradigms? 332
The choice is frighteningly clear.
Accept the status quo - the seemingly safe but mediocre path that he is on now. But in a turbulent world, that safety is an illusion. The mediocre path is actually the riskier one, because it eventually leads to a dead end. 333
As long as you stay on the mediocre path, competitors are going to keep gaining. Or, look for a different path - a new direction that is free from the limits of outdated assumptions and self-doubts. The potential opportunity of a different path is limitless. 334
But not every new path leads to
greatness. Before traveling outside of his comfort zone, need a way to reduce the
risk. Need certainty. Need to be sure that the business is on the right road, and avoid any hidden dangers along the way.
335
So
that is the challenge. How to
find that new path in order to reach the CEO greatness - and unearth the hidden wealth potential in business. 336
And what processes are you following to be certain you are finding the opportunities and mining the hidden wealth that is lying dormant in your business? We’ll explore a different pathway - a new, proven leadership paradigm for creating wealth in turbulent times. 337
The Hidden Art of Foresight
Greatness cannot be achieved by looking in the rear view mirror.
And you certainly will not get there by standing still, and waiting for outside events to decide your fate. To achieve CEO greatness - you need to build a new skill set: You need to master the art of foresight! 338
“Foresight is the ability to predict what is likely to happen - and use this information to prepare for the future.” Strongly believe that foresight is the most important skill for a CEO today. In our fast-moving world, foresight empowers a CEO to take advantage of opportunities that present themselves - and to avoid problems that will trap organizations that are still looking backwards. 339
The Foresight Myth
Your competitors would like you to believe that foresight is an innate gift, akin to biblical prophecy. Either you were born with it, or you are out of luck. Actually, foresight is more like athletic talent. The highest achieving athletes are the ones who are most dedicated to refining and improving their skills. 340
The same is true with foresight. It’s a skill set that can be acquired. You can build your foresight muscles - and become that strategic, accurate thinking CEO who can “see around corners” and prepare your organization for what is coming at you. But, just as in athletics, it will take work. It will take dedication. 341
The Need for Accurate Thinking
But work and dedication won’t be enough! For you -to develop your foresight to its fullest potential, it will also take careful, consistent, guided practice with an accuratethinker mentor – not a tactician. Why? Because tacticians, almost by definition, do not look forward. They tend to reason from hindsight, to make short-term decisions based either on what worked for them in the past. 342
Tacticians ask: “How can we dig faster?”
As a result, tacticians ask the wrong questions.
By contrast, accurate thinking strategists think longer-term, using foresight. Their focus is on effectiveness - figuring out what change is coming, so you can do the right things.
Accurate Thinking Strategists ask:
“How can we be sure we are digging in the right place?” 343
Resources are always constrained – more so than ever in turbulent times. When change is constant and fast-paced, can you see why CEOs must learn how to focus accurately and strategically on the 20% of activities that will
propel their organizations forward ? Focus on Creating and Capturing Value
344
“While
conventional wisdom would suggest a
greater focus on efficiency and investments in a time of growing economic pressure, the
findings of the Big Shift suggest a longer term view ... Today’s business environment requires a focus on value creation and capture. Knowledge flows are the key to
surviving and thriving through these tough times and beyond.” Source:“The 2011 Shift Index: Measuring the forces of long-term change, Deloitte Center for the Edge, 2011
345
Accurate thinking strategists are willing to see the fundamental truth in business today – that a “Big Shift” is occurring; a “New Normal” is emerging. The tactical orientation that worked in the 20th century will undermine your business in the 21st century, and eventually topple it. 346
Today, your focus must be on creating
and capturing value. And your tools for creating and capturing value are the knowledge and know-how that
you and your organization bring to the table. 347
CEOs
who are struggling today -
some of them whose businesses are stuck and they don’t even know it, others who are stuck but don’t know what is causing it. 348
Luxury
of standing back and
taking a longer view of the situation. Here is the nature of the changes he is facing, based on research from the Shift Index:
349
The performance gap between winners and losers continues to increase, with the “winners” barely maintaining previous performance
levels, while losers experience rapid deterioration in performance. 350
The Cognizant diagram illustrates how social, mobile, analytics and cloud IT architecture – the “SMAC Stack” – will lead to the unbundling of tightly coupled, industrial age value-chains, transforming key processes
and, in some cases, entire industry structures.
351
Different industries – like substances in nature – have different “melting points” at which this disruption will impact them. No natural substance is
immune to heat – and no industry structure. 352
No wonder business is
underperforming, no matter how hard you work! ◦ Pushing on levers that are no longer connected to current economic reality.
How To Get Back On Course? 353
Trained to do a job in a simpler world - a world that does not exist anymore …..
By trying to manage by looking backward —like most executives today – is wasting effort, wasting time, and burning through cash that
could be used to get the business back on track.
Allowed business to get out of balance, Return on Assets (ROA) is well below cost of capital.
Shift paradigm. 354
“As CEO, what is your actual job
description today, in turbulent times? What duties and tasks do you consider to be your unique responsibilities as
the CEO of your organization?”
355
The CEO's Job Description in Turbulent Times:
The CEO is responsible for the organization’s success or failure. Without a clear job description in their own mind, CEOs can easily get distracted - and neglect the core issues. 356
CEO’s 1st Duty: Set Strategic Direction
Many leaders get confused about the difference between strategy and tactics. Strategy is
deciding “what” your organization should do. A CEO is paid to think - and strategy is all about accurate thinking. 357
Need to accurately assess the realities in your business.
Need to evaluate the opportunities available to you, and select the best ones to focus on - in other words, where you want your business to play.
Strategy is about effectiveness - making sure the organization is doing the right things. 358
Tactics are NOT the CEO’s job! By contrast, tactics are what happens below the shoulders. It’s about efficiency - doing things well. Its focus is doing rather than thinking. Your people are paid to “do”. You are paid to “think.” 359
An accurate thinking strategist CEO thinks of his or her organization as existing within an ecosystem. Your organization is the internal portion of the ecosystem. It co-exists in an external ecosystem with other players - like suppliers or customers, for example. 360
At one time, there were static hierarchies and roles within the
ecosystem. For example, your office equipment vendor was the supplier, and you were the customer - your roles in relation to each other did not change. 361
Remember, the CEO’s first duty is to set strategic direction for the organization. So an important task under that duty is to define and
interpret that critical “meaningful outside” that Peter Drucker describes. 362
Determine the “Business Backbone”
363
The next critical CEO task is determining vision, purpose and strategic position - what Carlos calls the “business backbone” of the organization:
What game to play, and where to play it?
Which markets and clients should we select and which should we stay out of? 364
Against which competitors?
In which locations?
With what product or service lines?
And, vitally important in a fastmoving world, in what timeframes? 365
Just as it is important for the CEO to determine where and when to play, it is equally important to decide what the organization will not do.
Why? Because especially in fast-changing times, there are never enough resources — so focus will be key to succeed in leveraging the key opportunities available for creating business wealth in a turbulent world.
366
So
the second task under your
duty to ‘set strategic direction’ is to clearly determine and establish a strong business backbone!
367
You Need Foresight in Turbulent Times!
In turbulent times, you need the foresight to recognize new competitors
coming your way. There could be new direct competitors in your field, or there
could be indirect competition.
368
And you need to know how to change your paradigm and mental models, before you can either change the rules of game, or better yet create a new
game where your organization is the leader. 369
Traditional CEOs wrongly rely on their gut instinct - or on costly traditional market research.
But both of those are backward-looking indicators. It isn’t possible for them to turn up indirect trends before they happen. 370
That is why CEOs with foresight have developed new ways of spotting oncoming trends - ways that are more forward-looking than listening to what you gut tells you - ways that are more applicable in a new, fastmoving world. 371
Peter Drucker said it best:
"The greatest danger in times of turbulence is not the turbulence itself. It is acting with yesterday’s logic, basing your actions only on past experiences." 372
Two scarcest resources: 1. Talented humans with proven capacity to understand where the market is headed.
2. Financial capital that allows you to invest in pursuing the opportunities in your business.
373
What
is the best way to put our
most talented people to work for us?
374
To sum up, the CEO’s first duty is to set strategic direction.
That includes: 1. Defining and interpret the meaningful outside.
2. Determining “What business are we in? Should be in? Should not be in? In what timeframes?” 3. Determining concentration of human and financial
resources.
375
“The person who figures out how to
harness the collective genius of his or her organization is going to blow the competition away.” Walter Wriston
Citibank CEO (1967 – 1984) 376
“Only 20% of the knowledge available to an organization is actually used.”
Source: Gottlieb Duttweiler Foundation
377
Intellectual
capital in most
organizations is being wasted. Knowledge,
wisdom and
understanding can be an invaluable resource for competitive advantage. 378
Barriers to Greatness 1.
You need a vision of what “greatness” is for YOU
2.
You need a PATH to take you there
3.
You need COMMITMENT
4.
You need a COURAGE and SELFCONFIDENCE 379
CEO greatness
also leads to Peace of Mind
380
Philosophy
Strategy
Revenue model
Competitive advantage
Goals
381
Assessing changing market factors
Marketing/selling approach
Research on market talking/commentary
Alternative means
Trends
Technology 382
On your industry
On new needs
On your
On new
competitors
applications
On new markets
On R&D
On new services
On alternative
markets 383
Knowing where you’re headed and why
Maximizing before multiplying
Quantifying, measuring, comparing
Correlations/implications
384
Knowing
your current strengths
and weaknesses. Maximizing former competition latter. Know
where to gain/get strengths
you’re missing. 385
1. Increase the number of clients
2. Increase the average transaction value
3. Increase the frequency of repurchase Get more residual value out of each client
386
“The
purpose of business is to
create and keep a customer.” -Peter Drucker
387
388
389
390
391
1.
Penetrate a new MARKETS every year.
2.
Introduce new PRODUCTS/SERVICES every year.
3.
Purchasing your competitors’
BUSINESS or assets every year. 392
393
Referral systems
Acquiring clients at breakeven up front and make a profit on the back end
Guaranteeing purchases through risk reversal
Host-beneficiary relationships
Advertising 394
Using direct mail
Using telemarketing
Running special events or information nights
Acquiring qualified lists
Develop a Unique Selling Proposition
Increasing the perceived value of your product/service through better client education
Using public relations 395
Delivering higher-than-expected levels of service
Communicating frequently with your clients to
nurture them
Increasing sales skills levels of your staff
Improving your teams’ selling techniques to upsell and cross-sell
Using point-of-sale promotions
396
Packaging complementary products and services together
Increasing your pricing and hence your margins
Changing the profile of your products or services to be more “up market”
Offering greater/larger units of purchase
Developing a back end of products that you can go back to your clients with
397
Communicating personally with your clients (by telephone, letter) to maintain a positive relationship
Endorsing other people’s products to your list
Running special events such as “closed door sales,” limited pre-release and so on
Programming clients
Price inducements for frequency
398
Up-selling, Cross-Selling, Follow-up Selling
Host/Beneficiary Relationships
The process of identifying who else in the “cycle of business life” has established strong relationships
and earned the trust of people in the same categories as the ones you’re trying to target.
Calculating Lifetime Value, Marginal Net Worth, Allowable Cost
399
What’s the Marginal Net Worth of a Client?
Re-Investing / Parlaying Your Current Levels of Success to Loftier Heights
Reinvestment Multiplier Table
400
401
Revenue •
•
Most businesses continuously rely on one marketing approach to grow and sustain their business… (The Diving Board Philosophy) What happens when that one approach becomes less effective? Your business stream diminishes and you begin to lose market share. 402
Revenue Joint Ventures
All it takes is
ONE BIG
IDEA Which one will you pick for this?! What would happen to the stability of your business as you begin the process of formalizing your marketing profit centers? 403
Revenue Joint Ventures
Referral Systems
Developing a Back End
What would happen to your revenue level and profitability if you combined a wide array of marketing approaches? (The Parthenon Philosophy) 404
405
406
The Top Three Reasons for Stagnation, In My Experience, Are The Following:
407
1.
Not incorporating growth thinking into
everything a business owner does. 2.
Not measuring, monitoring, comparing, or quantifying results.
3.
Not having the detailed, strategic marketing plan with specific performance growth expectations. 408
1. Are You Stuck Losing Out to the Competition?
2. Are You Stuck Not Selling Enough?
3. Are You Stuck with Erratic Business
Volume? 409
4. Are You Stuck Failing to Strategize?
5. Are You Stuck with Costs Eating Up
All Your Profits?
6. Are You Stuck Still Doing What’s Not Working? 410
7. Are You Stuck Being Marginalized by the Marketplace?
8. Are You Stuck with Mediocre Marketing?
9. Are You Stuck Still Saying “I Can Do It Myself”? 411
You are stuck in Poor Leadership.
You are stuck in a Poor Business Model.
You are stuck with Poor Marketing.
You are stuck with Too Small A Market.
You are stuck with a Me Too Product.
You are stuck with Poor Distribution. 412
413
Don’t Keep Your Clients From Buying
1.
2. Use Test Marketing to Maximize Your Sales Results (Science Not Art)
3. Build and Profit From a “USP” Preemptive, Preeminent-only, viable solution 414
4. Grow Leverage Through Endorsements (The Power of Others) Tom Sawyer School of Business
5. Reverse Risk to Put Your Sales in Forward Drive 415
6. Make Top “Quality” a Top Priority
(Know what it and “value” mean to your client.)
7. Link Your Business to Strong Partners
8. Pay Only For Results
416
9. Manage Your Assets Wisely – Tangible and Intangible First – Know what they are
10. Borrowing Winning Strategies - Funnel vs. Tunnel Vision
417
11. Be Proactive to Outsell - The Reactive Always think ahead - The Championship Billiard Concept
12. Use Non-Ad Ads
418
13. Turn One-Time Clients Into Life-time Buyers - Annuitized, programmed buying
14. Find and Use All Your Hidden Assets Windfall Profits, Cash Flow Bonanzas
419
15. Seven Ways to a Winning Sales Pitch/Presentation
1.
First, say something that gets the
2.
Second, tell the reader/listener/viewer
prospect’s attention. (Self serving to them) why he or she should be interested in what you have to say. (Benefit/reason why)
420
3.
Third, tell them why they should believe that what you say is true.
4.
Fourth, prove that it is true.
5.
Fifth, list all the benefits of your product or service.
421
6.
Sixth, tell the reader/listener/
7.
Seventh, ask them to order right
viewer how to order. away.
People buy benefits, advantages, protection, enrichment. Features are merely the pathway, bridge to get them. 422
16. Preemptive Advantage (Only viable solution)
17. Work With Other People’s Money, OPE, OPI, OPR
18. Get Twice as Much Done in Half the Time (John Dudeck) 423
19. Use Direct Mail/Sequential Marketing – But
Use It Right
PEQ/MMT Experience PEQ/MMT
20. Develop Multiple Income Sources
21. Know Your Niche
424
425
1.
Continuously identifying and discovering hidden assets and overlooked opportunities in your business.
2.
Mining cash windfalls each and every month of your business.
3.
Engineering success into every action you take or decision you make. 426
4.
Building your business on multiple profit sources instead of depending on one single revenue generating source.
5.
Being different, special and advantageous in the eyes of your clients.
6.
Creating real value for your clients and employees for maximum loyalty and results. 427
7.
Gaining the maximum personal leverage from every action, investment, time or energy commitment you
ever make. 8.
Networking, Masterminding, Brain-Storming with like minded, success driven people who share real like experiences and shortcuts with you.
9.
Turning yourself into an idea generator and recognized innovator within your industry, field or market. 428
10.
Making “growth-thinking” a natural part of your everyday business philosophy.
11.
Reversing the risk for both you and your clients in
everything you do (so the downside is almost zero, and the upside potential nearly infinite). 12.
Using small, safe tests to eliminate dangerous risks
and adopting funnel vision instead of tunnel vision in your thinking. 429
430
Mistake #1: Not Testing All Of Your Marketing Ideas
Corollary: Test all your marketing
Mistake #2: Running Institutional Advertising Corollary: Run only direct response advertising
Mistake #3: Not Articulating And Differentiating Your Business Preeminence/Preemptiveness Corollary: Develop a USP and use it in all
your marketing 431
Mistake #4: Not Having Back-End Product Or Service.
Corollary: Create a profitable and systematic back-end.
Mistake #5: Not Understanding Your Clients,
Their Needs, And Desires. Corollary: Always determine and address the real needs of your clients and prospects. 432
Mistake #6: You Must ‘Educate’ Your Way Out Of Business Problems…You Can’t Just Cut The Price Corollary: Always recognize that you must
educate your clients as a part of the marketing and sales process
Mistake #7: Not Making Doing Business With Your Company Easy, Appealing And Fun Corollary: Make doing business with your
business easy, appealing and fun. 433
Mistake #8: Not Telling Your Clients The “Reason Why” ◦ Corollary: Always tell your client the “reason why”
Mistake #9: Terminating Marketing Campaigns That Are Still Working ◦ Corollary: When you prepare your marketing, focus on the
intended prospect and no one else.
434
Mistake #10: Not Specifically Targeting Your Marketing ◦ Corollary: When you prepare your marketing, focus on the intended prospect and no one else. Qualifying
Prospects
Mistake #11: Not Capturing Prospect’s Mailing
Addresses, E-mail Addresses As Well As Pertinent Contact Information ◦ Corollary: Capture everything on a prospect or client that you can in an organized, retrievable system 435
Mistake #12:Being Tactical Not Being Strategic Corollary: Always having a strategy which tactical actions and methods are integrated into
Mistake #13: Not Having An Integrated Marketing Or Sales System
Corollary: Having a marketing and sales system in place and refine it continuously --using letter/call/letter/call or email/ letter/call strategies 436
Mistake #14: Not Taking Advantage and Integrating The Internet Into Every Aspect Of Your Marketing And Sales Efforts Corollary: Integrating the Internet into all your marketing and sales activities
Mistake #15:In Sales Situations, Shooting From the
Hip (Ready, Fire, Aim!)
Mistake #16: Being Stuck Doing “What Works” Corollary: Always be willing to change 437
Mistake #17: Not Reinvesting Your Profits
Corollary: Always parlay your success and momentum into greater achievement
Mistake #18: Not Knowing And Leveraging The Lifetime Value Of A Client Corollary: Always understand the lifetime value of your clients 438
Mistake #19: Not Maximizing Your Assets, Relationships, Opportunities, Resources, Etc. Corollary: Always explore and maximize your resources, assets and opportunities
Mistake #20: Treating Marketing and Sales As
Operations “Silos”
439
440
1.
Hidden Assets that Transcend Revenue
2.
Overlooked Opportunities, Products or Services
3.
Underperforming Activities
4.
Undervalued Relationships 441
5.
Underutilized Distribution Channels, Strategic Expansions
6.
Untapped Selling Systems
7.
Little Known Marketing Approaches
442
443
1.
People are silently begging to be led. They are crying out to know more about
a business’ product or service. 2.
Tell people what specific action to take.
3.
Marketing is the ultimate financial leverage. 444
4.
Advertising is nothing more than
salesmanship. 5.
People don't appreciate what a business has done for them -- or will do for them -- unless they are educated to appreciate it. 445
6.
Bonuses can make a profound contribution to the overall sales proposition.
7.
Take on the purchasing risk for the customer when making a sales proposition. 446
447
1.
Advertising/Direct Marketing/ Copywriting
2.
Selling/Consultative Advisory Communication
3.
Lead Generating/Targeting Qualifying
4.
Offering/Closing 448
5.
Upsell
6.
Resell
7.
Cross-sell
8.
Repurpose/Reclamation Monetizing
9.
Referral
449
450
1.
Maximize what you already do
2.
Multiply the opportunities available to you
3.
Monetize unprofitable areas of your
business
451
4.
Create new products/services
5.
Profit from your competition
6.
Reclaim past expenditures
7.
Become strategic instead of tactical 452
BONUS: 1.
Penetrate new markets and create NEW revenue sources
2.
Acquire one new business or asset 453
Business-minded goals/aspirations/possibilities
Wealth/empire creation
Strategy-minded
Marketing-minded
Talent-minded 454
Infrastructure-minded
Culture-minded
Growth-plan minded
Knowledge minded
Effectiveness/productivity-minded ◦ (Dudeck) 455
Access/market/source
Advantage minded ◦ Credibility
◦ “preemptively” ◦ Access ◦ Value creation proposition ◦ Migration 456
Advantage minded continued… ◦ Irresistibility proposal ◦ Unbeatable offer ◦ Filling needs ◦ Relevance
◦ Counterprogramming 457
Advantage minded continued…
◦ Leveraging resources, assets, access ◦ Revenue process ◦ Migration sourcing ◦ Advanced/enhance ◦ Purpose redeployment 458
459
Strategy
is always a means to a
major goal that can be boiled down to one simple objective: ◦ More significantly/continually meeting/exceeding client needs.
460
Strategy is a high level plan to achieve one
or more goals under conditions of uncertainty.
Strategy is important because the resources available to achieve these goals are usually limited.
461
Strategy is also about attaining and maintaining a position of advantage over adversaries through the successive exploitation of known or emergent possibilities rather than committing to any specific fixed plan designed at the
outset. 462
52%
of CEO’s/entrepreneurs don’t
feel that their current strategy will lead to success – long term.
463
A tactic is a conceptual action implemented as one or more specific tasks.
Tactics are the actual means, specific actions, used to reach the desired state for the company. 464
Your
first goal, then is to define
“reality”, then crafting a vision and superior competitive strategy to make that vision your true/new reality! 465
As
business grows,
entrepreneurs/CEOs/leaders need to have a wider skill set and foresight to succeed.
466
Foresight
will help you see what
changes are coming at you, in your
organization, in your market and in the world.
467
A special report on leadership development. What should it entail?
CEOs/leaders need to have a wider skill set to succeed.
468
You
need to reinvent yourself
to meet the large scale and scope of your industry alternatives and market education. 469
This
requires complex yet
malleable skills sets. Strategic
planning is a top
leadership skill you must master.
470
Strategic planning is an organization's process of defining its strategy, or direction, and making decisions on allocating its resources to
pursue this strategy. In order to determine the direction of the organization, it is necessary to understand its current position and the
possible avenues through which it can pursue a particular course of action. 471
Generally, strategic planning deals
with at least one of three key questions:
"What do we do?"
"For whom do we do it?"
"How do we excel?" 472
You
must develop a fresh mindset
and framework to evaluate and lead your business.
473
How?
Critical
thinking is a priority
skill to master.
474
Critical thinking is reflective reasoning about beliefs and actions.
It is a way of deciding whether a claim is always true, sometimes true, partly true, or false.
Critical thinking can be traced in Western thought to the Socratic method of Ancient Greece.
475
Critical thinking is an important component of most professions. It is a part of formal
education and is increasingly significant as students progress through university to graduate education, although there is debate
among educators about its precise meaning and scope.
476
You must have an acute sense of how complex layers of issues, activities, events relate together and be able to assimilate your business strategy across all these factors.
477
You
need the ability to
understand how to best present a clear and tactful message to internal team and external stake holders across all these factors. 478
Don’t argue with others by actively avoiding it and instead show respect for other
people’s opinions. Try to see things from the other person’s point of view.
Don’t criticize people and instead give them honest appreciation. 479
Be genuinely interested in people and
make others feel important by being a good listener and most importantly,
smiling.
Encourage people to talk about themselves and talk in terms of other people’s interest. 480
A
person’s name is the most important sound in any language to them.
481
Start in a friendly matter and ask questions in the
beginning to which the person will answer yes.
Let people do a great deal of talking and make them feel like an idea is his or hers while being
compassionate towards the other people’s ideas and desires. Dramatize your ideas, throw down a challenge, and appeal to the nobler motives.
482
Always begin with praise and honest appreciation, ask questions instead of giving direct orders and give the other person a fine reputation to live up to.
483
Be "hearty in your approbation and
lavish in your praise."
Make their fault seem easy to correct, make them happy about doing what you suggest, and let them save face. 484
The
ability to execute strategy
through communication is one of the most important skills.
Monitor
your environment. 485
There is need today – more than ever, for fresh thinking and new ideas
Must expand ways of thinking, tap
capabilities from around the globe and collaborate to get things done instead.
486
You need to focus on growth, which in turn requires three distinct skills:
1.
Innovation – understanding customers and creating new ways of offering them value.
2.
Globalization – working across diverse markets and institutions to establish supply chains to deliver that value effectively.
487
3.
Change – responding flexibly to the rapid evolution of markets and competition.
-David Newkirk, CEO of Darden Executive Education, University of Virginia Darden School of Business
488
Here
are a few ideas from the
Skillsoft Leadership Research Report in Creative Age Assessment to help make measurable change in this turbulent economy and competitive advantage. Skillsoft Leadership in Creative Age Assessment 489
Act
despite anxiety and chaos.
Understand
you have more
control than you think.
Skillsoft Leadership in Creative Age Assessment 490
Chip Conley, CEO of Joie, turning negative stress into positive challenge: ◦ Think of a project, task or effort in which you are involved.
◦ Write down all of the things over which you have control.
◦ Now write down the things over which you think you have little or no control. Skillsoft Leadership in Creative Age Assessment 491
Understand
where you spend your
time and why, and whether it’s pragmatic. Take
action.
Skillsoft Leadership in Creative Age Assessment 492
Recognize
the #1 Motivational
Factor in the World: Make meaningful progress in what you do and what your team does.
Skillsoft Leadership in Creative Age Assessment 493
You
always accomplish more
through movement than through meditation. –Gary Halbert 494
Recognize Focus
the velocity of learning.
on doing something
different, developing new behaviors while your actuating. Skillsoft Leadership in Creative Age Assessment 495
Case
study - 250% increase/five-
minute intervention fundraising -college.
Skillsoft Leadership in Creative Age Assessment 496
3 Most Important Things You Do For Your Company 1. 2.
Relevancy
Competency 3.
Passion
497
Are you getting a good ROI on your
money, your effort and most importantly your time?
Use your time and everything else you invest to produce the greatest strategic long-term pay-off? 498
3
Most Precious Intangible Assets ◦ Time
◦ Opportunity Cost ◦ Effort
499
Practice
the concept of Highest
and Best Use. Which
tasks within your business
qualifies as your highest and best? 500
Give each task different values based on: ◦ Their relevancy Is it pertinent to the future success of your business? ◦ Your Competency Are you adequately qualified to complete the task? ◦ Your True Passion for Doing Them Does it evoke a strong emotion – Do you enjoy doing this? 501
This
exercise will put you in a
geometric power position that brings the greatest yield.
502
Delegate to others if: 1. It isn’t Relevant 2. You’re not competent in it 3. You’re not completely passionate about it
This will free you up to focus your most precious intangible assets on things that matter the most. 503
Do ONLY the things that you do best and
delegate everything else. ◦ Find the tasks that you are gifted at and that you’re passionate about - do THOSE things.
This will give you the best possible return on your investment of time in your business. 504
Causes: Confusion, paralysis, procrastination, and lack of focus.
Growth happens in spurts – but there
comes a point where growth is no longer possible.
505
• Our existing knowledge and skills are simply inadequate to carry ourselves beyond where we are now. • This creates a web – a state of paralysis that inhibits one from growing beyond where we are now. 506
The web is made up of 4 things: 1. Relationships
2. Habit Patterns 3. Support Structure
4. Knowledge
This web is what prevents people from getting to the next level. It creates a place of temporary or
permanent paralysis and confusion. 507
1. 2. Both
Wisdom Knowledge
Wisdom and knowledge are
acquired through the growth spurts. 508
3.
Experience ◦ These habits formed of experience impede our ability to perform, much less generate the kind of results that we want. It affects the way we look at problems and solutions. Doing things the same way becomes counter
productive. 509
All growth stages come from setting goals.
Constantly set and review goals.
Be sure the goals are more challenging so they force you to pursue a new set of relationships.
This leads to greater opportunity, better habits, improved support systems and expanded knowledge. 510
Assess
the areas you are:
◦ Gifted
◦ Excellent ◦ Average ◦ Incompetent
511
To
achieve optimum performance,
one needs to focus on their strengths and not abandon their weaknesses, but manage them.
512
Roadmap for Success Builds consensus around strategies, time frames, priorities, goals, measurements, assignment, and accountability. Provides a method of implementing and following up on critical operational and strategic priorities. 513
Roadmap for Success
Simplifies and de-mystifies the complexities and constraints of the existing business model. Produces practical, “implementable” solutions that are customized for the industry, culture, and competitive circumstances.
514
Executive & Organizational: Effectiveness
Defines executive roles, responsibilities, and day-to-day priorities. Improves ability to manage effectively in the long and short term.
Solidifies the right values as displayed by key executives and the organization. 515
Executive & Organizational: Effectiveness
Increases shared sense of urgency and
improves commitment to teamwork.
Fosters executives who think strategically, execute purposefully, avoid reactive
behaviors, manage with clarity, minimize second-guessing, and praise confidently . 516
Functional Excellence and Employee: Productivity
Assists in finding, attracting, and retaining the right people.
Shifts operating culture from a defensive to an offensive mindset.
Minimizes distractions, wasted time, and resources by enhancing the individual and collective focus of the executive team and ultimately, the organization. 517
Functional Excellence and Employee: Productivity Creates a tight framework and system for
accelerating growth and measuring progress for CEO and executive team use.
Enhances the revenue stream and profit margins by increasing quality and quantity of productive output. 518
Revenues, Profitability, and Growth
Improves through focused energy on key objectives.
Allows the organization to capture and act on the best ideas ... low hanging fruit.
Identifies gaps or deficiencies in the service delivery process, organizational structure, business model, and strategies. 519
520
An
accurate thinking CEO/leader
realizes that the value of your business, product or service offering is determined almost totally by the marketplace.
521
Before you can solve a problem, you need to understand the problem and the market at the seminal, granular level. You need to first learn what the market thinks value is. 522
By studying everyone else in the same field who is more successful than you especially in terms of their approaches, their marketing, and their communications, you can gain valuable insight on what value is to the clients and how other competitors go about satisfying their needs. 523
You look at everything you can find out there about everyone else in the same field whether it is positive or negative. Positive
because you want to learn exactly what people find satisfaction in. Negative because you want to learn where the gap is in terms
of the market values and what is being provided. 524
Dive
deep into your market to
gain valuable information to help you understand the mindset of the heartfelt consumer, the buyer, and perspective buyer. 525
You
need to be able to really care;
get connected, get compassionate, get empathic, get excited, and get passionate about your marketplace. 526
Most people don’t know how exhilarating it is when you allow your mind to do what it was designed to do: Think deeply and expansively to
discover and understand instead of being out of control. 527
Two ways to go about getting your marketplace wanting what you feel they
need: 1.
Brutally/mercifully challenging their precepts.
2.
OR by affirming their precepts long enough to have them trust you and then moving them to a different direction. 528
“Most entrepreneurs fall in love with the wrong thing.” You can’t fake caring and connecting with your market.
Understand the things your market finds value in, harness it, and express
your understanding authentically from within. 529
Help
people become better Critical Thinkers.
530
A proprietor adds nothing meaningful to the market but an entrepreneur creates their enterprise to add more value, be more engaging, and
stimulate either the senses or the experience of others. 531
No matter what type of business
you’re in, you want to have valuable content that impacts your marketplace. You
either take value or you’re
adding value. 532
You’re in business for one reason and one reason only: Add more value to the market than your competitors.
You can lead a new revolution in whatever area of business you’re in as long as you understand what value is to your market. 533
Concentrate
on finding an original
approach to satisfying the unmet needs of the buyers. Value starts with acknowledgement. 534
Put into words for people the various
hopes, dreams, goals, fears, and desires they have.
Then show them why they want them and how their lives can be transformed by gaining them. 535
"A concept or approach as common as dirt in one industry can have the impact of an atom bomb in yours, if…
536
…you’re the first and only company in your industry using it."
537
Amazon.com
is one of the greatest
resources that you can use to learn about your market. You
can go to any category that
your business falls under and find books on them. 538
Since people who write reviews on books are driven by their own passion, you can use those reviews,
either positive or negative, to understand exactly what your target market thinks value is. 539
540
541
54 2
543
544
545
546
547
54 8
549
550
551
Client
focused
Amazon.com School Social
research
commentary
552
What’s
the pain or pleasure in
your product, service, or company proposition?
553
Fascination:
Derived from the
word “fascinare” ◦ Means to bewitch or hold captive so people are powerless to resist. ◦ Fascination is an intense emotional focus. 554
Use the following 7 triggers to persuade and captivate the attention of your audience: 1.
2.
3.
Power- If you effectively trigger power, you will control others. Lust – If you trigger lust, you will draw others closer.
Mystique – Triggering this encourages others to learn more about your message. Sally Hogshead 555
4.
5. 6.
7.
Alarm – With Alarm you compel others to behave more urgently.
Prestige – This will elevate you above others. Vice – This will tempt others to deviate from their usual code of conduct. Trust – This will comfort others, relax them and bind them more closely to you. Sally Hogshead
556
Select
the triggers depending on
your audience and your intended result.
Sally Hogshead
557
Marketing
Strategy
Innovation
Management
558
Learning To Become Unbeatable
Make Irresistible Propositions And Offers
Out Advantage/Benefit Competition
Irresistible vs. Resistible
Unbeatable vs. Beatable 559
560
What
do you know about your
buyer? What
do you know about your
competitor’s buyers? 561
What
do you know about
competitors – local, national, international? What
do you know about the market? 562
What do you know about alternatives?
Why would someone have inertia equivocation or product procrastination? 563
What
does your market want
more than anything else?
How
does your market define value?
564
565
Do you increase and multiply the passion, the performance, the communication, the collaboration and developmental
skills of your team OR do you tear them down? R.H. 566
A “Multiplier” can start with a staff or
team of just average people and yet, with the right mind set, and the right strategy, they could do something
truly extraordinary with the business. R.H. 567
A “Diminisher” – not a Multiplier- can start with great people – all of them passionate and committed and end up with really- almost NOTHING. R.H. 568
Your
goal is to have your team
members be raving fans, but raving fans of 3 different groups:
R.H. 569
1. Respected client whose life they’re going to transform. 2. Of one another so they will collaborate and synergistically cooperate.
3. Of you, so that they will follow your lead because they know you’ll have their best interest always at heart. R.H. 570
1.
Do you regularly look outside your business, to
other businesses and other reference examples for new ideas, fresh approaches, innovative ways to motivate, to maximize and to really grow and
develop yourself, your people and your relationship with your clients/marketplace? 571
2.
How/where/what do you do with those observations/ insights?
572
3.
Are you recognizing and understanding completely the exciting new possibilities to develop and grow and support the ability and the effectiveness of each one of your team members (as well as yourself)? 573
4. Are you open minded and humble enough to take breakthrough ideas and concepts from other people/businesses/team members, from other coordinators, from other outside areas and utilize them to your maximum advantage to let your business grow and prosper?
574
5.
Do you make everyone around you feel smarter or appreciated or more capable… by that I mean have you giving up to be the smartest man or woman (and realize that your greatest ability is to make others feel competent, respected and capable)? 575
6.
Are you able to take a group of talented, passionate people and make them capable to work collaboratively in a way that allows them to accomplish extraordinary things (for the market) together that could’ve
never before reached individually?
576
7.
Do the people working with/for you
say you’re the best boss, best leader, teacher helping them grow and develop and that together they feel like they’re accomplishing something meaningful? 577
8.
Have you demonstrated through your leadership, through your preeminent
advisory conduct that you really DO have the capacity to take your people, to take your business, to take your market place,
to take your value proposition and grow and multiply all their success?
578
If the answer to any of those questions is
“No,” then all you have to do is sit down and figure out who you need to be and what you need to do differently to be a Multiplier, and NOT a Diminisher.
579
A Multiplier can grow your business by leaps and bounds.
Distinguish yourself as the most powerful creator of value, of greatness, of contribution for all the people you ever work with/for. 580
1. Iconoclasts Who Live Life on Their Own Terms
2. Entrepreneurs with Passion, Patience, and
Hustle
3. Outrageous Growth Ambition R.H.
581
4. Disruptors who are Absolutely Intolerant of the Status Quo
5. Creative Synthesizers (Connecting the Dots) R.H.
582
6. Observers
7. Networkers
8. Questioners
9. Monsters of Execution
10. Be a Multiplier vs. Diminisher with Employees
R.H.
583
1.
Entrepreneurial attitude of learning, the willingness to be coached.
2.
Target a high growth market where customers are frustrated with all generic competitors.
3.
Come up with a breakthrough value proposition that disrupts the market and transforms customers’ lives. R.H.
584
4.
Employ customer collaboration and rapid prototyping of products and
services to create a problem solution fit. 5.
Design best class processes that deliver on your value proposition at a profit. R.H.
585
6.
Rapid prototyping to create a great problem solution fit.
7.
Build teams that ship faster that the competition.
8.
Make your marketing revolutionary and subversive. Break into new markets with a big brother partnership.
R.H.
586
9.
Everyone in the organization is in sales.
10.
Reinvest in growth by being cash flow
positive. R.H.
587
1.
How to Multiply current income.
2.
Guarantee far greater future income.
3.
Ethically exploit windfall income opportunities internally and externally.
4.
How to achieve monster-size psychic
emotional wealth . 5.
Position your business for future sale at the maximum value and worth possible. 588
1. Current Income – Constantly increasing current income and profits is the first determinant of business wealth creation.
589
2. Future Income: If your business doesn’t have highly predictable, strategic, long term revenue-generating programming in place, that assures continuous flow of profits and sales well
into the upcoming years --- you DON’T have a business at all. 590
3.
Windfall Income – There is no
business out there I know that cannot uncover a five to seven figure profit windfall within six months. 591
4.
Psychic/Emotional Wealth – Unless you
have the certainty, confidence, peace of mind, vision, low stress, control, power, persistence, perceptiveness, high ethical standards and unstoppable drive, you can’t
possibly pilot the strata of unstoppable business growth and income you’re after.
592
5.
Asset Wealth – Few business owners
ever build a business they can sell for a lot more money than they take out of it in a year. Yet a business’ asset value should be one of the major wealth creations you achieve from your business efforts. 593
594
The process of solving a problem: ◦ First open your mind, then focus on your problem or opportunity.
◦ If you can’t find an answer, simply step away from the problem. You will, sooner
or later, have a revelation and come up with the solution.
595
◦ You will need to re-examine it before you implement it. ◦ Finally, take time to appreciate what you have done and get ready to repeat the process for another problem or opportunity 596
People,
no matter the age or
gender, are innately creative and they need to find the creative genius within them to gain some direction and tap into it. 597
“If there is any one secret of
success, it lies in the ability to get to other person's point of view and see things from that person's angle as well as from your own.” -Henry Ford 598
Creative
people think they are
creative, and uncreative people don’t. When
you start using your
creativity, you will realize there are no limits. 599
Have the right attitude and altitude by getting above your problem and viewing it from different angles.
Acknowledge you have an infinite level of creative intelligence, and be actively curious and interested. 600
The key behind developing a creative process is to get rid of “the herd mentality,” which simply means you avoid human inclinations to focus on
the obvious solutions or opportunities. 601
Start thinking divergently, because the greatest ideas are essentially simple.
Creative solutions example: The famous shampoo line, “Rinse and Repeat.” 602
Look
at problems through different
point of views to find the most creative and effective solutions.
603
Use
“funnel vision”: take all the
different perspectives and approaches of others (360 degree CAT Scan) and use them all to create a new approach. 604
Everything
you accomplish in life
is the byproduct of solving a problem or closing in on an opportunity.
605
Every
disappointment, lack of
enrichment, and lack of happiness in your life can be traced down merely to a problem you are not solving or an opportunity that you are avoiding. 606
A ‘genius’ can be applied to anyone since it can be defined as “somebody who influences somebody for good or bad, who has a strong learning or inclination.”
607
The
key to accessing your
creative genius is seeing life in a different perspective and in a different way that is organized to you. 608
Create variations in your daily schedule and interactions with people (even the way you greet them) to see life through different point of views and examine the difference in how people respond to you. 609
“If there is any one secret of success, it lies in the ability to get the other person’s point of view and see things from this angle as well as from your
own.”
-Henry Ford 610
Don’t start out by looking for the solution, look instead for the problem through questions, examinations, observations, and evaluations from different vantage points—out of the norm for you. 611
Humor is absolutely the bedrock of creativity and it is the fastest, best, and easiest spigot to turn on your creativity.
Rediscover and unleash the
creativity that you were born with. 612
Humor
helps people realign
themselves, take out the seriousness from life, and most importantly, stimulates their creative side along with others around them. 613
Your
goals in life can be broken
down into a few things: ◦ You want to be interested in others. ◦ You want to be respectful of others. ◦ You want to be incredibly hopeful for others. 614
Start
being mindful, noticing your
environment, and start verbalizing what you feel — broaden your mind and ultimately grow your creative genius. 615
Open up and look outside your current self with both comfort and certainty that you will find answers, passion, purpose, and possibilities that you have never even thought of before. 616
If
you let your creative genius
flow, and connect, and really make it continuously be a part of your being, you will discover greater passion in everything. 617
Your creative genius is the fastest, easiest, most powerful path for you to solve or resolve almost every problem or opportunity in your business or personal/relationship life. 618
Do
something you don’t ordinarily
do in a way you don’t ordinarily do it in your personal life.
619
Try changing the way you act around the important people in your life such as your significant other.
Kids think differently than adults. ◦ Carefree, optimistic attitude and lack of self-consciousness. 620
The key to all areas of your life is the process. It’s enjoying everything you’re going through including the interactions, the time, and the
experience and enjoying it all to the nth degree possible. 621
The
greatest secret to find your
creative genius is simply allowing yourself to reconnect with your child-like curiosity, openness, and sense of possibility. 622
Comfort yourself with the realization
that having to adjust, test, refine, and revise are all the most integral part of
all processes because it’s expanding and growing—the very basis of what humans are meant to do.
623
All of life is a glorious game that shouldn’t be taken as seriously as it is.
Let your creativity “have fun” instead of worrying and overwhelming yourself with negative energy. 624
It’s
not a black and white world.
Pick
the easiest, safest, most
comfortable and appropriate way to start stepping out of your norm to examine life through different perspectives. 625
Taking
time away from a project
or assignment you have is vital for your improvement since it allows your creative genius to reflect on what you’ve done and expand on it to make it even better. 626
Harnessing
and turning on your
creative genius can give you confidence, empowerment, protection, and inspiration needed to chase after your passions. 627
628
1.
Gather raw material. Don’t look to heaven for inspiration. Work systematically. Get specific information on the subject, then the general information. 629
2.
Gestating, masticating… it’s done in your head.
630
3.
Forget about it for a while. Put the challenge out of your mind. Turn it over to subconscious mind.
631
4.
Out of nowhere the idea will appear, usually when you are least thinking about it. Write it down – make it your prisoner forever. 632
5.
Finalizing, cold gray sobriety of morning, submit it for review. Good ideas will expand.
633
1.
Advertising/Direct Marketing/
Copywriting 2.
Selling/Consultative Advisory Communication
3.
Lead Generating/Targeting Qualifying
4.
Offering/Closing 634
5.
Up-sell
6.
Re-sell
7.
Cross-sell
8.
Repurpose/Reclamation Monetizing
9.
Referral
635
“You Attitude” Persuasion/Influence Benefit/Advantage Focused Storytelling Future Pacing Strategic/Critical Thinking 636
Convergent thinking is the most used way
of thinking by an executive. They are good at bringing material from a variety of
"known" sources to bear on the problem, in such a ways as to produce the correct answer. That is the case for operational tactician executives. AKA Tunnel Vision. 637
Any executive (right now) needs new skills, the ability to generate many or more complex or complicated ideas from anything. That requires "divergent thinking," that is thinking with the "whole brain" (Left and right brain).
638
Divergent
thinking is a thought
process or method used to generate creative ideas by exploring many possible solutions. 639
Divergent thinking, and unexpected connections are drawn in a short amount of time. After the process of divergent thinking has been
completed, ideas and information are organized and structured. 640
Fluency: The ability to generate a number of
ideas so that there is an increase of possible solutions.
Flexibility: The ability to produce different categories or perceptions whereby there are
a variety of different ideas about the same problem. 641
Elaboration: The ability to add, embellish, or build off of an idea or product.
Originality: The ability to add to create fresh, unique, unusual, totally new, or extremely different ideas. 642
Complexity: The ability to conceptualize difficult, intricate, layered or multifaceted ideas or products.
Risk-taking: The willingness to be courageous adventuresome, daring, trying new things or taking risks in order to stand apart. 643
Imagination: The ability to dream up, invent, or to see, to think, to conceptualize
new ideas.
Curiosity: The trait of exhibiting probing
behaviors, asking and posing questions, searching, being able to look deeper into ideas, and the wanting to know more about something. 644
645
Critical Thinking: The mental process of actively and skillfully conceptualizing, applying, analyzing, synthesizing, and evaluating information to reach an
answer or conclusion.
646
Summarize research of industry, technology, general business, psychology
market (summarize role of interns).
Get on competitors and alternative competitors e-mailing list/blog/visit their website.
647
Study Is
social media
there an industry, organization,
association you can access?
648
We want you to learn to
put negative emotions aside, leverage knowledge, become someone who can enthusiastically reach resourceful unusual/nonlinear solutions based on foresight, insight and critical divergent thinking. 649
Keeping your eye on the ball: KPI
Metrics Quantification Correlations Implications Slice/dice
Segmentations Reference back to 3 ways Advanced 3 ways, Power Parthenon. 650
**
651
Playing
to win – playing to
strategize better, market better, perform on all fronts better, compete better, serve/contribute better.
652
Inherently
entrepreneurs want to
take a step, but don’t know how to get there.
653
You
want to play a bigger game in a bigger stadium.
654
◦ Profits ◦ Importance ◦ Impact
◦ Wealth ◦ Fulfillment ◦ Income 655
Greatness
in someone produces a
drive to find higher desire business culture and purpose.
656
Want
to take bigger steps but don’t know how?
657
When
you play to win – you do
everything differently. (discussion exercise)
658
Outsell,
out-think, out-market, out-strategize
659
You
invest/commit and are a
monster of disruptive/nontraditional thinking.
660
Have
greater
passion/purpose/possibility in your strategic vision, execution, implementation to produce greater results.
661
Danger
in playing to lose –
ignoring powerful forces of longterm/turbulent change.
662
663
Empathy I feel the way you feel. Understand what
my problem is. Difference between giving information and giving advice. Telling people here’s what you should be doing about it and here’s how – specific. 664
Help provide people with focus. Focus is clarity. Clarity gives power. Power gives understanding. Understanding gives certainty. Certainty gives trust. 665
Alternative Leadership. People don’t trust the system. You’re not being told the whole truth. Here’s the truth as I see it.
Most people don’t know what focus is until they’ve made it. 666
It’s only a matter of time before the people you want to do business with do, so don’t wait for the money to change hands to start adding value. 667
Client: a person who engages the professional advice or services of another VS.
Customer: one that purchases a commodity or service 668
Client vs. customer – they are under your care, direction, well being, guidance.
Who are we communicating to? What problems, opportunities are we going to help them deal with? 669
How would we have the most positive impact
immediately, today? (Story: Gold client) The message doesn’t have any value unless it
makes an impact and gets them to take action. Prospects have to recognize your advice as a
solution to a huge problem they feel emotionally as well as rationally. 670
Most
people fall in love with
product instead of the prospect.
671
It can be either a result to a good or better feeling about what they are already doing, or, preferably, both.
I want to feel good about myself and the way I have conducted myself. 672
I want to feel good about my decision and actions. Look at purpose.
673
If I were on the receiving end of my sales communication/presentation, why would I want this? Why would I want to take advantage? What’s in it for them/me?
674
My proposition/presentation has to answer a question that’s already on the client’s mind. But may never have been verbalized by them.
675
When you conceive of your business as interacting and enhancing people’s lives, everything changes, results improve. 676
Most
people think, “What do I
have to say to get people to buy?” They
should say, “What do I have
to give? What benefit do I have to render?” 677
Worst thing to do is feel out of control, confused, unstructured. Agent of change/creator of value/value contributors. People don’t want to be average.
678
People
need solutions not
strategy. They need someone to advocate and address their well being.
679
People always pursue their well-being in a logical rational way. Isn’t there a better way? You want to have ideas that make sense and leave people better off than they started. 680
Most
people focus on tangible
results. Most of the greatest rewards aren’t tangible. “Show
me” is so much more
powerful than “tell me.” 681
Instead of making conclusive statements, give me ammunition that
allows ME to come to a conclusion. You never want to draw the conclusion – you want them to take an action that makes a commitment. 682
If they don’t take the action themselves, there’s no power into it.
People worry about whether THEY stand out, whether THEY’RE unique, or whether other people will care.
683
The concept is too difficult for most people to buy into – instead give them
an example of how things work.
Let me show you what we do and how our system works so you can sign on.
684
Help me with ANY next business/influential decision. People are searching for ways to make the next decision better – solve their problem today.
Here someone comes aboard for the hope. 685
It has been subject matter focused. Must be individual focused. We can make people feel comfortable with a lot of things they used to be intimidated by. 686
Information VS. meaningful advice Helping each person gain greater focus and clarity is your daily responsibility, obligation and privilege. A foundation they can trust to commit to your instructions and intention. 687
“Connectivity”: connecting the dots for
It’s all about helping them be better.
them on how something needs to be done differently and how it looks in the eye of the client.
Put into words the feelings, desires, hopes and non-desires of people for them to trust you. 688
I believe that every business that
deserves a better life / future should have it.
You’re on a mission or crusade every time they go into the market.
689
The “YOU attitude”: it’s about what
YOU want, not us.
Preeminence is always based on hopefulness: through my help, support and guidance you and your business will grow and prosper. 690
Moral obligation, responsibility and
privilege to help grow and develop the ability, life, performance and impact of every business person under your care.
Squeeze VS. Grow 691
Every
communication has to have
the most positive impact and move people to take greater but more effective and productive action. 692
Your attitude to convey: “Each time I interact with my clients, my responsibility is to make them better, more effective, more confident, more impactful because I was in their lives today”. 693
Fall in love with the clients he/she NOT manages, but grows and develops.
Example: The farmer growing and developing the seed.
694
On
any communication/
interaction, think about the receiver, not the speaker.
695
Wrong
question:
What do I have to say to make business people to make more?
696
Right
question:
What guidance, clarity, direction, better understanding do I have to give them to get to use their abilities more effectively? 697
Make your clients know THEY matter to you, they are relevant and you are committed to them.
Use metaphors, similarities, examples, analogies, and real life experiences
that people can easily understand. 698
You
have to see yourself as a
transformer of people’s actions and results, and as an agent of constant change. VALUE
CREATOR 699
Example: The shadows’ responsibilities to the recruit: Clinically help the recruit understand all the dynamics that are going on the transaction (phone, appointment).
700
Help
the recruit understand the
bases, psychology, purpose and dynamic that went on the transaction. (See Greatness)
701
1.
2 kinds of objections: General objections that occur at every
sale situation. 2.
Unique objections that apply to the situation.
Look below the surface at all the factors that are impacting the result. 702
Be their “sounding board” and they must trust us enough to open up to us not defensively, but constructively.
Every human being needs guidance to improve and progress.
703
Guide them to navigate on what’s going on: factors, elements and issues, that it’s either making them non-productive self-destructive, paralyze, ineffective, inefficient. 704
Help
them set goals and reverse
engineer the actions, steps and the accomplishments- both tangible and intangible.
705
Factors,
forces, actions, inactions
People
are silently begging to be led – but only by someone they trust who has “their” best interest. 706
Ask
the right questions,
listen to the answers, and see between the lines.
707
“You
need to hear before being
heard. The biggest underutilized skill is listening.”
Critical reflective thinking- be
connected to the person in the moment. 708
Default by modeling the most successful
people categorically. ◦ Explain example - Deming
Weakest part of most business people is understanding the changes, behaviors in communication, attitude, in purpose that they have to embrace to create the outcome that they want. 709
“
Let’s work together to make that happen”.
710
The most instantaneous way to transform performance is by changing
the strategies they’re following. It’ll change the results you’ll get, it’ll change the person you become, it’ll change the successes. 711
Fly on their own, but constantly, not just support them, but challenge them to higher achievement. Change
Ideology 712
Provide strong and consistent transactional follow.
Understand in each category that you are
going to analyze, what they do, how they do it, what they see in their mind, what happens when they are really in the situation, out why they think that way. 713
“ Overcoming the hurdle race”
Ask yourself: how many lives am I going to transform today?
You can’t help anyone to be better, unless they openly share with you the good and bad. 714
Einstein,
“Nothing happens until something moves.” “You
grow, or you die”. (Expound) 715
If what you have been doing hasn’t produced the result that you want, need or expect, doing it 10 isn’t going to
make a big difference.
Critical VS. Linear thinking.
◦ Correlations, implications, aberrations 716
Most
people in life struggle with
the wrong fear: Am
I really worthy of this goal? VS.
Is the goal worthy of me? 717
Don’t assume they understand why: Tell them why, the phases, the differences, how it must look when you are at the receiving end, let them
appreciate why you want them to do something different. 718
719
Consumers flock to brands that embody the ideals they admire, brands that help them express who they want be.
The most successful of these brands
become iconic brands that resonate powerfully with consumers. 720
A deeper cultural perspective on traditional marketing themes is needed to effectively create a cultural brand.
A brand with such powerful visual cues has an intrinsic advantage over others.
721
Companies
such as Starbucks
represent more to their customers through their iconic brand than just the items they sell.
722
Brand repositioning is all about changing
the status of your brand by modifying its appeal to customers.
Brand repositioning, or rebranding, is a process typically undertaken by
organizations whose role in the marketplace has evolved over time. 723
The purpose is to change perceptions – both internally and externally:
1.
Internally, processes are improved and employees are united under a consistent message, or brand promise.
2.
Externally, the brand’s delivery of its new brand promise customers with a stronger sense of who the brand is and what it stands for. 724
Reebok
was once known as an
athletic shoe brand targeted at young women and aerobics. Today, it is successfully retargeted at the inner city hip-hop generation. 725
726
Stephen: Absolutely. The data is
overwhelming. There was a recent study done of over 12,000 managers, where they contrasted high-trust organizations versus low-trust organizations, and the core finding was
this: 727
The high trust organizations outperformed
the low-trust organizations by 286% -that’s nearly three times higher -- in total
return to shareholders. That was in shareholder value, the thing that you’re driving for. 728
729
◦ ◦ ◦ ◦ ◦ ◦ ◦ ◦ ◦
1. Talk Straight
Be honest. Tell the truth. Let people know where you stand. Use simple language. Call things what they are. Demonstrate integrity. Don’t manipulate people nor distort facts. Don’t spin the truth. Don’t leave false impression. 730
2. Demonstrate Respect
◦ Genuinely care for others. ◦ Show you care. ◦ Respect the dignity of every person and every role. ◦ Treat everyone with respect, especially those who can’t do anything for you. ◦ Show kindness in the little things. ◦ Don’t fake caring. ◦ Don’t attempt to be “efficient” with people. 731
3. Create Transparency
◦ Tell the truth in a way people can verify. ◦ Get real and genuine. ◦ Be open and authentic. ◦ Operate on the premise of, “What you see is what you get.” ◦ Don’t have hidden agendas. ◦ Don’t hide information.
732
4. Right Wrongs
◦ Make things right when you’re wrong. ◦ Apologize quickly. ◦ Make restitution where possible. ◦ Practice “service recoveries.” ◦ Demonstrate personal humility. ◦ Don’t cover things up. ◦ Don’t let personal pride get in the way of doing the right thing. 733
5. Show Loyalty
◦ Give credit to others. ◦ Speak about people as if they were present. ◦ Represent others who aren’t there to speak
for themselves. ◦ Don’t badmouth others behind their backs.
◦ Don’t disclose others’ private information. 734
6. Deliver Results
◦ Establish a track record of results. ◦ Get the right things done.
◦ Make things happen. ◦ Accomplish what you’re hired to do. ◦ Be on time and within budget. ◦ Don’t overpromise and under deliver. ◦ Don’t make excuses for not delivering.
735
◦ ◦ ◦ ◦
◦ ◦ ◦ ◦
7. Get Better
Continuously improve. Increase your capabilities. Be a constant learner. Develop feedback system—both formal and informal. Act upon the feedback you receive. Thank people for feedback. Don’t consider yourself above feedback. Don’t assume your knowledge and skills will be sufficient for tomorrow’s challenges. 736
8. Confront Reality
◦ Take issues head on, even the “undiscussables.”
◦ Address the tough stuff directly. ◦ Acknowledge the unsaid. ◦ Lead out courageously in conversation. ◦ Remove the “swords from their hands.” ◦ Don’t skirt the real issues.
◦ Don’t bury your head in the sand. 737
9. Clarify Expectations
◦ Disclose and reveal expectations. ◦ Discuss them. ◦ Validate them.
◦ Renegotiate them if needed and possible. ◦ Don’t violate expectations. ◦ Don’t assume that expectations are clear or shared. 738
10. Practice Accountability
◦ Hold yourself accountable. ◦ Hold others accountable.
◦ Take responsibility for results. ◦ Be clear on how you’ll communicate how you’re doing—and how others are doing. ◦ Don’t avoid or shirk responsibility. ◦ Don’t blame others or point fingers when things go wrong. 739
11. Listen First
Listen before you speak. Understand. Diagnose. Listen with your ears… and your eyes and heart. Find out what the most important behaviors are to the people you’re working with. ◦ Don’t assume you know what matters most to others. ◦ Don’t presume you have all the answers—or all the questions. ◦ ◦ ◦ ◦ ◦
740
12. Keep Commitments
◦ Say what you’re going to do. ◦ Then do what you say you’re going to do. ◦ Make commitments carefully and keep them at all costs. ◦ Make keeping commitments the symbol of your honor. ◦ Don’t break confidences. ◦ Don’t attempt to “PR” your way out of a commitment you’ve broken. 741
13. Extend Trust
◦ Demonstrate a propensity to trust. ◦ Extend trust abundantly to those who have earned your trust. ◦ Extend trust conditionally to those who are earning your trust. ◦ Learn how to appropriately extend trust to others based on the situation, risk, and character/ competence of the people involved. ◦ But have a propensity to trust. ◦ Don’t withhold trust because there is risk involved. 742
Strives
to tell everyone everything
they can. Wants
a culture with open
dialogue and straight answers.
743
Is direct with employees even when
they don’t like the answer.
Has a goal which is not to please everyone, but instead for them to trust that what they tell them is the truth. 744
745
1.
Gain Your Market’s Trust Clearly articulate your market’s hopes, fears, and problems. Feel its pain. Identify gaps in service or quality. State the problem better than anyone. 746
2. Establish Your Maven Persona (See “24 Common Maven Characteristics”)
Memorable personality traits that make the maven more human and familiar in the eyes (and more importantly the minds) of the marketplace. 747
3. Vision for the Marketplace
Why the company exists? What is the ultimate goal of the maven? What’s the
dream/cause that others want to be a part of? Shape your vision, hopes,
dreams.
Example: Kinder Reese
748
4. The Creation Myth
The STORY about the beginnings of the maven and their brand (“drive” motivation) – where did it start? Why?
749
5. Predictable Behaviors
Unique things you do or say that your market expects. In other words, they are predictable – and just like you can
predict how a loved one or close friend is going to behave, you want the market
to feel they can predict your behavior. 750
6. Polarizing Point of View
Views that will resonate with your target
clients but might offend others. It separates your market into believers and non-believers. The denunciation of companies and practices in your market that are cheating your customers out of
the value they should expect. 751
7. Special Phraseology
Your iconic phrases and terminology that makes you utterly unique in your market.
8. Communications Channel
The communication channels that the marketplace grows accustomed to when receiving information from you. 752
9. Velvet Rope
The elements that make your clients, prospects, and staff feel special, better than outsiders, part of a special group.
10. Client Evangelists
Techniques to motivate your customers to spread the good news of your
superior service. 753
11. Mentor and Advisors
The guides who understand how to
anchor you in the minds of your prospects as the preeminent authority and trusted advisor in your niche. 754
755
1. Confident, Tycoon, Big Business Builder (i.e: Donald Trump) Workaholic
2. The Puppeteer Behind the Scenes (i.e: Henry Kissinger) Calculated, mysterious 3. The Researcher (i.e: Rich Schefren) Curious, hard-working, impulsive, and truth finder. 756
4. The Well-Placed Intelligent Source (i.e: Bill O’Reilly) Shows you what’s happening behind the scenes.
5. The “Self-Made” Man/Woman (i.e: Carl Icahn) Determined, persistent, proud of accomplishments, has high expectations of others. 6. The Contrarian (i.e: Sam Zell) Distrustful of anything big
757
7. The Eccentric (ie: Richard Branson)Enthusiastic, make your own rules. 8. The Iconoclast (i.e: John G. Spurling of University of Phoenix) Not concerned with tradition – doesn’t respect authority unless deserved. 9. The Angry Man (i.e: Jim Cramer) Argumentative 758
10. The Prodigy/Genius (i.e: Bill Gates) Introverted, super intelligent, confident and aggressive. 11. The Fun Guy (i.e: Terry Bradshaw/Charles Barkley) Optimist, happy, sees the good in situations. 12. The Voice/Face Behind the Orchestra (i.e: Steve Forbes or Chase Revel) Organizer
759
13. The Synthesizer (i.e: Tony Robbins) 14. The Importer/From One Industry to
Another (i.e: Jay Abraham) 15. The Outcast: (i.e: Jeffrey Katzenberg) 16. The Common Man: (i.e: Howard Stern) 17. The Intellect (i.e: Newt Gingrich) 18. The Advocate (i.e: Vic Conat) 760
19. The Mad Scientist (i.e: John Kim from Bell Labs)
20. The Supreme Possibility-Optimist (i.e: Zig Ziglar)
21. The Futurist (i.e: Faith Popcorn or John Naisbitt)
761
22. The Absent Minded Professor
(i.e: Albert Einstein) 23. The Wizard (i.e: Steve Jobs)
24. The Family Man (i.e: John Chambers of Cisco
762
Fred Smith of Federal Express developed his Vision of reliable overnight document delivery anywhere in America.
Tom Monahan developed his Vision of the way pizza delivery should be and turned it
into a slogan and a promise: Hot pizza in 30
minutes or it’s free. 763
Larry Page and Sergey Brin developed
their Vision of a search engine for the Internet that could quickly retrieve the most relevant web pages and started their company in a friend’s garage in 1998. 764
Bill Gates shrewdly purchased an operating system (86-DOS) from a Seattle software
company and then licensed it to IBM as the operating system for its new PC.
Steve Jobs and Steve Wozniak, co-founders of Apple Computers – how they made
personal computers in a Menlo Park garage that became Apple. 765
Phil Knight, a University of Oregon track star, and his coach began experimenting with a waffle iron to make his own running shoes. The company he founded, Nike, ended up bequeathing him a personal fortune of $9
billion.
766
767
1.
2.
3.
Google, Yahoo and the other search engines will automatically send you thousands of new prospects for FREE. You will enjoy a constant flood of free, word-of mouth referrals. You will bank hundred of thousands of dollars in “FREE MONEY” each year. 768
4.
5. 6.
7.
Creating highly effective online ads will become a breeze. Your affiliate sales will skyrocket You will turn your fiercest competitors into the most energized and effective sale force imaginable. Many NEW streams of income suddenly begin flowing to you. 769
770
1. Counter Programming: Understanding your
prospects and being willing to respond to
and address their fears, confusion and needs. 2. Create a central theme to everything that you do. 771
3. Future Pacing. Taking your perspective buyers on a journey into
the future and the benefits they will enjoy.
772
4. Answer this: Today, is your business designed to consistently acquire new
clients? Is it designed to keep those very same clients for a very long time? You need a core product or a flagship product that defines your unique positioning.
773
5. You can self-proclaim your expertise and then assume the mantle of defender of any un-served or underserved market niche and as long
as you can deliver on your positioning. 774
6. Take an inventory of yourself. Before you
look outside, look inside. What are your unique abilities and gifts? How do you harness/optimize? 7. Depict yourself as somebody that sees things at a deeper level of analysis, research, relevancy, and understanding than anybody else. EXPLAIN OPTIMIZATION 775
776
The personality building blocks.
You don’t need all of them. You need the right combinations.
777
1.
Your trusted advisor for life, this is the
personality trait of the Maven who wants to help you, wants to help you for a lifetime. 2.
Here’s what you’re not being told so here’s the truth as I see it and what action I think you should take because of that.
778
3. Congruity of positioning and communication. 4. Extolling your own achievements or value. 5. Listing flaws to prove that you’re human too. 6. You have to start looking at the relationship you’re building as a long term investment
you’re making in the marketplace. 779
7. The Maven trait that recognizes the long-term strategic gain that his/her clients are after.
8. Knowing your own strengths and weaknesses. 9. The preemptive approach. It’s the Maven who
shares what the industry norms are – but they are the first to do it.
780
10. Celebrate your own strengths and
weaknesses. 11. The maven wants you to control your risk
pointing out the overlooked risks and dangers, that other people don’t share. 12. Use as much research and data as you can.
781
13. Have a clear and easy to identify voice and style. 14. Acknowledge you’re human. Most people respect and relate so much better when you
don’t act like you’re perfect because it doesn’t exist.
782
15. Challenge the status quo thinking. 16. Don’t overplay your hand. It means is there’s a sequence, an order, a progression that you need to develop.
783
17. The maven that reveres their own brand equity and continually adds to it and uses it as a vehicle to reassure clients and prospects. 18. The Rothschild Factor
19. Associate with people who have incredible trust and respect.
784
20. The Maven whose power derives from his
group. 21. Enter into a committed relationship with your market. 22. Never minimize your brand.
785
23. Acquire the knowledge to specialized
partnerships. This Maven brings breakthroughs.
24. Hire the best, pay them richly, but pay them strictly on performance. 25. You can be shy and quiet and not be invisible. 786
You
have two choices: Mediocrity or Mavenship
“To
be or not to be a Maven, that is the question.”
787
Develop a unique style of communicating.
Become a Polarizing Figure: have a strong
point of view.
Use a Signature Communications Channel: a special way of communicating with your marketplace that is unique to you as a Maven.
788
Create Client-Evangelists: Consumers today make most of their important decisions by seeking the advice of an expert or a trusted friend.
Accelerate the Process with Mentors: Many people have stumbled upon the secret of mavenship - through trial and error. 789
How
much do you know about
your market, direct/indirect competitors? (Revisit Amazon.com school and utility business genius)
790
Linear
growth continues growing
at the same rate, but exponential
growth continues growing at an increasing rate.
791
Linear vs. Exponential Growth 120
100
80
60
40
20
0 1
2
3
4
5
6
7
8
9
10
792
◦ Exponential growth: A constant rate of growth applied to a continuously growing base over a period of time.
793
“Exponential
growth looks like
nothing is happening, and then suddenly you get this explosion at the end.” -Ray Kurzweil 794
“The
greatest shortcoming of the
human race is our inability to understand the exponential
function.” -Albert A. Bartlett 795
A force multiplier refers to a factor that dramatically increases (hence "multiplies") the effectiveness of an item or group.
Attacks a problem from multiple directions using many tools. 796
An attribute or a combination of attributes which make a given force more
effective than that same force would be without it.
The expected size increase required to have the same effectiveness without that advantage is the multiplication factor. 797
A capability that, when added to and used regularly by a person in a sales force, significantly increases their visibility and
potential suitability to solve a need and thus enhances the probability that a prospective customer becomes aware of their solution(s)
and engages with the seller to learn more and ideally leads to increased sales. 798
Militarily
application
◦ It’s the militaristic discipline of creating multiple avenues of penetration at the same time. ◦ It’s a proven process of dominating your enemy in military terms. 799
Entrepreneurial/Business application ◦ It’s a proven process of dominating and preeminently owning your market. ◦ It’s letting the full force of lots of different factors carry you to greatness without you having to lug it and push it. 800
In both the military and business application having a force multiplier increases the chance of successful mission accomplishment.
801
Marketing
Resources
Infrastructure
R&D
Products/Services
Technology 802
Immediate? Short-term? Long-term?
803
How
have you been responding –
reactively or proactively? How has it performed for you and your business?
804
Shift directions
Pivot with business model
Shift source of prospects/buyers
Establish more strategic relationships (collaborations – see later)
805
Shift/modify product/packaging offer
Shift proposition
Buy competitors
Partner with pre or post selling complimentary business
806
Sellout Going More
to an entirely new business
R&D develop new brand
807
Acquire products/services from outside (Rogaine/roll-on deodorant/ FedEx/
Viagra/ Fiber Optics)
Commitment
Partner (see upcoming section) 808
809
You Squared by Price Pritchett, Ph. D
Quantum physics ◦ Requires a major re-thinking of concepts such as time and space and how human consciousness operates. ◦ Staggering implications regarding you, your
potential and the power of your mind. 810
The Quantum Leap is the explosive jump that
a particle must undergo in moving from one place to another. ◦ Particles make these leaps without apparent effort
and without covering all bases. ◦ In a practical sense it refers to taking risk and going off into unchartered territory with no guide to follow. 811
“When
you reach for the stars you
may not quite get one, but you won’t come up with a handful of mud either.”
-Leo Burnett 812
Process,
variability/geometric
impact/dissect reverse engineer
813
Rapid
impact
Long-enduring
interventional
tools
814
815
816
1.
Complete money back guarantee
2.
Better-than-money back guarantee
3.
Partial money back guarantee
4.
Pay after product/service performs (pay after you profit)
817
1.
Money-back guarantee
2.
Complete refund plus Bonus
Incentive 3.
Emotional risk reversal, i.e. increase prospect’s confidence in their purchase 818
Risk Reversal – Step #1 ◦ What in dollars and cents, is the best reported either testimonial or case
study, measurable, quantifiable feedback you have gotten from a satisfied client, buyer? 819
Risk
Reversal – Step #2
◦ What is the penalty to your client or prospect of staying where they are right now?
820
Risk
Reversal – Step #3
◦ What is your competitors’ most powerful and superior guarantee? ◦ (How can you favorably outperform it?)
821
Risk Reversal – Step #4 ◦ What is the minimum based barebones expectation you can guarantee
somebody they can get from favoring your business and starting to deal with you?
◦ (Be as specific as you can.) 822
Risk Reversal – Step #5 What is the biggest tangible, MINIMUM guarantee that you would
be willing to warrant to somebody?
823
99% of the businesses put the risk on the poor customer. I teach my clients how to always assume 100% of the
risk, by a no strings, money-back guarantee. ◦ Then there's no impediment to a positive decision. 824
Even
though a certain number of
people will, in fact, ask for their money back, it increases sales to such a significant point that refunds don't matter. 825
826
Technique Implementation: ◦ Risk reversal pledge: “If you stay on board for 12 months and have not made a profit over and above the fees paid, then FCI will refund you the difference.”
Result: ◦ Within 3 months they enlisted more than 50 new retailers (with just 1 salesman) and plan to have up to 200 retailers on board within 12 months. ◦ They stood to have £10 million worth of sales per annum for franchisees/retailers. 827
Technique Implementation Give every patient the first consultation free Results ◦ Simply doing that, referrals started coming in by droves. ◦ Increased his revenue from $500,000 to $2 million in one. 828
Technique implementation Told prospective clients that if he can't provide them with strategies that are worth at least 10 times the value of fee then services are free and will
even absorb the travel costs. The notion that he would travel across the country at such a potential risk has convinced a number of executives to allow him to conduct his assessments at their facilities. 829
Technique Implementation Go into a plant - e.g. a power plant and offer to fix their soot blowers and only pay when they are satisfied with our service. Provide a service which will eventually exceed all of the customers requirements and hence they pay for it.
Results Found that you can make more money overall because you have taken on the financial risk and saved far more money for the end user than they will be spent on the service.
830
Technique Implementation ◦ Changed their 90-day money back guarantee to try
their product “Risk Free” for 60 days.
Results ◦ Went from a 1% response rate to evaluate product to over a 90% response rate to evaluate product. ◦ First year sales on target toward $3,000,000.00
831
Technique Implementation ◦ If, within 7 days of purchasing from our website, they found the same product at a cheaper price, refund them twice the difference. ◦ If the product failed to give the desired results after 3 months, refund every cent.
Results ◦ Over thousands and thousands of orders, only 3 customers ever took up on guarantee. 832
Technique Implementation ◦ Free day or free 1/2 day of consultation and advice.
Results ◦ This has opened up a number of clients opportunities that have been financially lucrative, professionally satisfying and personally rewarding.
Take Away ◦ "Give to get" 833
How
to understand return on
assets, lifetime value allowable cause, tangible/intangible asset management/maximization.
834
Return
on other people’s
Intangible/Tangible Resources
83 5
OPM/OPR – Other People’s Money/ Other People’s Resources
Companies of any/all kinds
836
OPM (money)
1. 2.
3. 4.
7.
OPT (time) OPW (work)
OPE (experiences) 5.
6.
7 forms:
OPI (ideas)
OPD (distribution)
OPC (current customers) 837
A
Assets Associations Acquisitions Advertisements Associates Accountsbalance Advice Agencies
B
Buying power Back-end Bonuses Backlogs
C
Financial commitment credibility Catalyst Cash Cross-sell Connections Clubs/ organization Compounding Collateral Credit 838
D
Database(s) Developments Down-sell Design Demands
E
Energy Expertise Equity Enthusiasm/e ndorsement Expenses
F
Finance Funding Facts Friends Family Faith
839
G Gearing/ leverage Generosity Goals Goodwill Graceperiod/terms
H HBP (Hostbeneficiary partnership) Financial health Hard-assets Human resources Hot-buttons/see relations Habits/ procedures Hierarchy of values Hospital/clinic
I Business intelligence/ insight Investments Inspiration Ideas Integrity Indemnity Interests Intangible assets 840
J
JV
K
Key-notes/ recurring Knowledge/ex pert
L
Lists Leads Lenders
841
M Money Mind space Markets Mastermind Group(s) Momentum Margin Manager Management Market-cycle Marketability M&A Market-survey
N
Networks Negotiation/ two-fold
O
Opportunities Optimization OPM Overheads OP lists
842
P
People/talent/ shift Promotions Productions Products Passiveincome Patterns Patents Performance P/E-ratio
Q
Qualified Quotes Quality QR
R
Resources Risks Riskreversals R&D Rebates Relativestrengths
843
S
Strategies Systems Supplies Sales-force Special-sale
T
Time Tangible assets Testimonials Tools Technicaldata-analysis Tests
U
Understanding
844
V
Values Voids
W
Wisdom Warranties Wholesale
845
846
1) What does my competition do that’s different?
2) What does the competition do that’s better?
3) What advantages do they have over me? What would/do I need to exceed theirs?
4) What products/services do people buy along with mine—before, during, and after? 847
5) How do my competitors normally sell and market?
6) What tangible/intangible issues most critically affect my prospect as it relates to my product/service or category?
7) What alternative means (products/services) are out there to fill the same needs my products/services provide? 848
8) What are the best ways I now know are available to win business away from my competition?
9) Who does my market respect, trust most? (Individual, companies, authors, experts, and
visionaries?)
849
10) Who could endorse us best and why? Who has maximum credibility (both companies and individuals)?
11) What bonus addition packages would most appeal to my market and why?
850
12) What other prime products or services does my prospective buyer purchase most?(Need not
be related to your category/industry).
13) How can I best transform the perception of my product, company, reputation? Who has the Relational Capital with the big market to help me do it?
851
14) What additional value added service would appeal/mean the most to my
prospective buyers and why?
15) What’s the repurchase cycle/lifetime value of my product in dollars and purchases? What are my allowable acquisition costs – by
product/service/type buyer/market/media? 852
16) How can I best dominate the new purchaser market using other people’s
resources/Relational Capital?
17) How can I best win over, ethically, existing buyers away from my competitors – that I don’t do now? How can Relational
Capital help that happen? 853
18) How can I increase consumption/ repurchases amongst my current and former buyers?
19) How can I best expand my existing market using Relational Capital?
20) What specialized niche can I fill using other organizations’ access/assets?
854
21) What repositioning, repackaging,
repurposing or reengineering could best improve my product, service, sales people,
image and appeal? Who has the Relational Capital resources to make that happen for
me?
855
22) Calculate incremental value of all above elements you’ve written down. Meaning,
how much/many more sales buyers, profits would I generate if I incorporated all I have identified?
856
23) What’s the combined worth of acting on the above? Look at financial implications – multiply times 3-15 times for its asset value.
24) What action steps am I going to take based on all I have discussed and identified is
now possible?
857
REMEMBER: Socrates argued that, “The life which is unexamined is not worth living.” 858
859
Alexander the great was said to be presented with a Gordian knot in his court. He watched countless other people try to untie it in vain.
Alexander…thinking outside the box, picked up his sword and sliced through the knot
solving the problem, refusing to be limited by convention. 860
Today, every entrepreneur is confounded by Gordian knots , complex, competitive puzzles, challenging business dilemmas -- in
almost every areas of their life.
861
Our job is to be your MASTERFUL THINKING PARTNER, and help you
“slice” through your Gordian knots, one “THOUGHT PROVOKING”
conversation at a time.
862
How come I create seemingly great
goals and plans but produce the opposite results that I intend?
How do I get a business that is stuck,
unstuck, going and growing again?
863
You can only learn how to be more successful, by learning from people
who have gone from success to failure, to success to failure and success again.
864
Over the years we have developed a potent/rather fascinating way of working with people as masterful thinking partners that has proven to
be very effective.
865
It involves drawing people out (in ways never experienced before) in a conversation and
spotting the places where people are looking at things “crookedly” or where their thinking is likely to get them (or already gotten them) into trouble – or restricted/limited/impacted their performance capability. 866
We
draw you out to see where
you are looking at things crookedly, or where beliefs may be cradle for a dangerous misperception on your part. 867
We help you do your own thinking and discovering your own answers
(instilling/installing a powerful engine or reflections you’ll use forevermore).
868
It starts with walking you down the ladder of inference so you can see where you jumped to conclusions, or give you a clearer window into
your own current, self-limiting reasoning. 869
870
See different. How are you looking at things right now? How do you need to look at things, differently and act differently Be different. How are you being right now with respect to your most pivotal goals?. How do you need to be different?
Think different. How are you thinking about the bothersome/challenging issues and problems you face? How do you NEED to think differently? 871
Act different If what you are doing isn’t working or is producing only limited results, try the opposite. Relate different. Give yourself to THEIR concerns vs. expect the opposite. ( your customers, wife, kids, )
Talk different. Discuss the undiscussable There’s no easy way out. The easy way out, leads back “in.” 872
****
873
All the exponential ways
874
Success is not normally a solo pursuit. It often comes more easily if you have trusted
people on hand that you can turn to.
This concept of a group of like minded
individuals who all want to succeed and want to help each other achieve success is the basis of all large companies. 875
Imagine if a group of people met each month to help you achieve what you want in life. If they met to show you how you can do better, make more
money, to achieve whatever it is that you want from your life. 876
Think Tank: A body of experts providing advice and ideas on specific political or economic problems.
877
Board of Advisors: A group of individuals
who've been selected to help advise a business owner regarding any number of business issues, including: Marketing Sales Financing Expansion etc. 878
Selecting and Facilitating the MGA
Understand Reality
What's Your Expiration Date?
Mastermind Group Alliance
You've Seen This Movie
Catalyst for Culture Change
Make a Choice 879
Why You Need to Reconsider
Coming to Grips with Reality
The Leadership Mindset
Misguided Thinking
What Kind of Leader Do You Want to Be?
After the Strategy ... What's Next?
See Beyond the Tip of the Iceberg
What Is a Mastermind Group Alliance (MGA)? 880
Much More than a "Team“
The Power of Momentum
How Is the MGA Configured?
Why Run Three Groups?
Is the MGA in Charge?
Select and Invite MGA Members
881
How to Select and Invite Your Mastermind Group Alliance Members
Selecting Components
Common Questions
Create a Balanced Mix
Personality Styles
Balancing the Styles
Bringing Participants Onboard
Add Heat and Pressure 882
Invitation Letter
What About the Others?
Preparing Your Mastermind Group Alliance for Success
Set the Stage for Success
The Sponsor Sets the Tone
Demonstrate Your Priorities 883
Be a Positive Force
Foster Collaboration
Maintain Security
Tips for Facilitating Mastermind Group Alliance Sessions
What Does a Facilitator Do?
Before the Session
Keep These Questions On-Hand 884
Know the Rules of the Road
Conducting the Session
Making Decisions
People-Centric Facilitation
Practical Problems in Facilitation
Problem #1: Driver Error
Problem #2: Silent Change
885
Do's and Don'ts
Passing the Baton
Facilitating a 21-Member Session
Remember!
886
Vertical/direct/indirect competition
Horizontal/live webinar conference call
Board of advisors ◦ Marketing structure ◦ Anonymous/discrete
Process Needing Compensations 887
Interviewing prospective sales
Interviewing industry leaders
Interviewing vendors
Writing a book, having the research
done
Tom Phillips concept 888
Techniques Industry
for creating ideas
research collection
Endurance Vendors
- prospective
◦ New vs. Old 889
Book readers
Recruiting
Partners wanted
Quotes on talent – Andrew Carnegie, Tom Phillips, Ken, Carlos’ son-in-law
890
Testing – (see examples from me/Qualpro)
Consultative training
New technologies – one new addition a week
Back to Advanced 3 ways
Know more about competition
Amazon/social media - voices 891
1.
Work Your Current and Past Client Lists
2.
Stop Spending So Much On Ineffective
Advertising (Measure, monetize, options, alternatives) 3.
Follow Up
4.
Keep Following Up
5.
Use Risk Reversal 892
6.
Bump and Up-sell
7.
Sell, Then Sell Again
8.
Utilize Host-Beneficiary Relationships
9.
Use Your Competitor’s Resources --- and Profit
10.
Offer Extended Guarantees and
Incentives/Bonuses 11.
Lock in Sales in Advance
893
12.
License Your Successful Concepts
13.
Break Even on the Front-End
14.
Test Your Prices
15.
Reposition Yourself as an Expert in Your
Industry 16.
If You Know a Company That Is Going Out Of Business, Buy Their Clients and the Right to
Fulfill on Orders 894
17.
Decrease Your Overhead
18.
Don’t Burn Your Bridges
19.
Avoid the Ostrich Theory of Marketing
20.
Write Only Direct-Response Ads or Sales Letters
21.
Write Headlines That Pull
895
22.
Analyze Your Results
23.
Don’t Put All Your Eggs In One Basket
24.
Get Your Clients to Give You Referrals
25.
Recognize and Identify Your Hidden
Assets
896
Winston Churchill: “Never give in. Never, never, never – in nothing great or small, large or petty.”
Fight against mediocrity and commoditization – by making yourself and your business unique, desirable, valuable.
897
In everything you do online or off - sell leadership. Provide people with ideas, advice, information to have (and hold).
Do your communications and conversations, all bring people value? 898
Drucker said, “Most small business owners are NOT entrepreneurs. They are merely
proprietors – who add no true value.”
899
The vast majority of businesses are mere
commodities, marginalized, nondistinguishable vendors.
True entrepreneurs create new satisfaction.
Are you content with mediocrity? Or want to create something new, different, or better for your market? 900
INNOVATION: does NOT necessarily refer to anything high tech.
You must be willing to perceive
change as an opportunity, not a threat!
901
Breakthroughs only occur when you are pursuing something better.
Entrepreneurship, innovation, breakthrough thinking – none of it comes automatically.
It is work to accomplish that which your herd-based competitors won’t/don’t.
902
A true entrepreneur is a business owner
committed to continuously innovating.
Are you committed to being “game changers”?
Obstacles in an industry are motivators.
903
Businesses Become
are NOT static.
supremely receptive to
seeing change in marketing, change in consumer buying habits. 904
Continuously evaluate your business and its performance.
Become obsessed (almost) for discovery, development, perfecting new things – new ways of delivering your products/service. 905
What differentiates the entrepreneurs from the proprietors is their commitment to purposeful innovation.
Proprietors try to hold on to the past.
Businesses grow or die.
906
Leveraged marketing: lets you create almost unlimited profit power
Ancillary marketing: lets you create multiple, new income streams by repurposing your brand.
Together: these two strategies can help almost
ANY business multiply their profits meaningfully. 907
908
When a prospect or client, fan, follower evokes the need to be heard – do you feel their
vibrations?
How to “feel and hear” your market’s path?
It’s up to YOU, to translate it specifically to your various applications.
Show people authentic empathy for their
situation. 909
Don’t give people information.
Render well-reasoned ideas/advice/perspectives.
Help provide people with true focus.
Power gives people understanding.
Certainty gives them the ability to trust.
910
Without trust, people will never take meaningful action.
Cultivate the ability to put into words what people want and don’t want.
Always see a point of view.
ALWAYS make YOU- the prospect, you the fan, you the follower – THEY are who is REALLY important.
911
Demonstrate real hopefulness for your
marketplace.
How can you have the most positive impact?
People need to recognize your communication as a solution.
Always question your purpose/intention.
912
Skyscraper
Bridge
Space
Band separating you from leader or loser
Bob Proctor quote
Take on reaching goals 913
Tom Phillips strategy
465 industry perspective/concept common as dirt
Know what’s possible – my son
Expanding your world view
Multiplying your sources 914
Being sold by competition
Aggregation/Roll-up
Creating more value for market/others (philosophical discussion)
Review Power Parthenon/Strategy 12 Pillars - Again. 915
Reverse engineer/budget/contingency
plan
Start with the end in mind
5 forms of wealth revisited - How you stack up on all 5
Review PowerPoint up until now 916
917
John Correll
Alain Dias
Rich Schefren
Jim Weldon
Nate Kievman
Teddy Garcia
Paul Sutter 918
Explanation Exercise
Calculators
919
920
1.
What is the “Private Equity Playbook™?”
2.
What types of businesses does this apply to?
921
3.
How are these businesses typically valued in the M&A marketplace?
4.
Why would you want to share this
information – isn’t it better to take advantage of the unprepared businesses? 922
5.
Can you share some examples of some scenarios or battle stories from the private equity world, in terms of how these principles have been employed?
923
6.
As a professional investor, what are some of the most common mistakes you see entrepreneurs making?
924
7.
When should an entrepreneur start thinking about the exit?
8.
Why do you think that entrepreneurs
are often so unprepared to sell their companies?
925
9.
What about the existing advisors to the business, aren’t they helping their clients prepare for exit?
926
10.
How can entrepreneurs learn more about how to employ the Private Equity Playbook™ in their businesses?
927
Mind of the market
Amazon .com
Headlines – two versions
Extrapolate
Huff Post/AOL
Magazines – online/off
Search 928
AIDA
A - Get Attention
I - Arouse Interest
D - Stimulate Desire
A - Ask For Action
929
AIDA: 1. Get Attention
Superscript – teaser
Headline – attention of desired audience
Subhead
Salutation
930
AIDA: 2. Arouse Interest:
Opening hook – “if you...then”
Your story – to establish credibility
Here’s what this is all about
931
AIDA: 3. Stimulate Desire
USP – Use a Unique Selling Proposition
Appeal
Benefits, Benefits, Benefits
Bullets
932
AIDA: 4. Ask For Action
Bonuses
Don’t Decide Now – you can’t lose
Price dropdown - justification
Risk Reversal - Guarantee
Close the deal – buy now
PS 933
Attention
Interest
Description
Persuasion
Proof
Close
Robert Collier Formula
934
Victor Schwab’s AAPPA Formula
A - Get Attention
A - Show People An Advantage
P - Prove It
P - Persuade People To Grasp This Advantage
A - Ask For Action 935
Bob Bly’s Formula
According to Bob, all persuasive copy contains these eight elements:
2. Focuses on the customer
3. Stresses benefits
1. Gains attention
4. Differentiates you from the competition
5. Proves its case
6. Established credibility
7. Builds value
8. Closes with a call to action
936
Bob Stone’s Formula:
1. Promise a benefit in your headline or first paragraph – your most important benefit.
2. Immediately enlarge upon your most important benefit.
3. Tell the reader specifically what he is going to get.
4. Back up your statements with proof and testimonials.
5. Tell the reader what he might lose if he doesn’t act.
6. Rephrase your prominent benefits in your closing offer.
7. Incite Action – NOW!! 937
Orville Reed:
Benefits – Tell your reader from the very beginning how your product or service will benefit them.
Believability - Back up your statements of benefits with believable evidence.
Bounce - Write with enthusiasm, keep your copy moving. Keep the prospect interested. Transfer your enthusiasm for the benefit to the prospect. 938
939
Convergent thinking is the most used way of thinking by an executive. They are good at bringing material from a variety of "known" sources to bear on the problem, in such a ways as to produce the correct answer. That is the case for operational tactician executives. 940
Convergent/Divergent Integrative Thinking
Any executive (right now) needs new skills, the ability to generate many, or more complex or complicated, ideas from anything. That requires "divergent thinking," that is
thinking with the "whole brain" (Left and right brain).
941
Fluency: The ability to generate a number of ideas so that there is an increase of possible solutions. Flexibility: The ability to produce different categories or perceptions whereby there are a variety of different ideas about the same problem. Elaboration: The ability to add, embellish, or build off of an idea or product. 942
Originality: The ability to add to create fresh, unique, unusual, totally new, or extremely different ideas. Complexity: The ability to conceptualize difficult, intricate, many layered or multifaceted ideas or products. Risk-taking: The willingness to be courageous adventuresome, daring, trying new things or taking risks in order to stand apart. 943
Imagination: The ability to dream up, invent, or to see, to think, to conceptualize new ideas. Curiosity: The trait of exhibiting probing behaviors, asking and posing questions, searching, being able to look deeper into ideas, and the wanting to know more about something.
944
945
How
To See Around Corners
Continuous
The
1. 2. 3. 4. 5.
learning
Five Stages of Knowledge:
Novice Advanced beginner Competent Proficient Expert 946
The
Capacity for introspection
and the ability to reconcile yourself as an individual separate from the environment and other individuals. 947
The only way to grow as thinkers is to examine and challenge old beliefs and have the courage to welcome new beliefs, more adapted to the times in which we live. 948
ANSWER: Creating unlimited business wealth by leveraging other people’s resources and creating an infinite checkbook
without investment or downside risk
949
Caveat: Human nature
Pharmaceutical company
normality
Radio and TV
John Rockefeller Story
Newsletters
Investment Business: Gold
Tony Robbins
Proprietor
Australia Training Program
Investment Newsletters
Nightingale Conant
Publishers
Fred Pryor – Production
Seminar on investing
house
950
Infomercials – B celebrity John
Friend in fundraising business
Ritter
Copywriting Business
Icy Hot
Cruise Ships
Publishing - Saturday Evening
Rose Parade – Flea Market
Mossimo
Houseware Designer friend in
Post
Norman Rockwell
Holiday Magazine – Ad market
Healthy Choice
1-800 Numbers
Colonial Penn Insurance
Entrepreneur Magazine
LA
951
Motorcycle
Boost Market Presence
Manufacturer in Asia
Porsche Dealership
Largest Newsletter
Hospital: Medical
Publisher
Orderlies
Speed
Tire Dealer
Optimization
Design collaboration 952
Credit Card Merchant Company
Fiber Optics
Magazine interview on
Tony Robbins
Philosophy of Management
Eight-Track Players
Lumber Mill – Kiln Drying
Italian Ceramic Items
Mediocrity/Socratic Interviewing
Greatness
3 Ways to Grow a business
9 Major Benefits of a Strategic
Lumber
Car Wash
Real Estate Agent
Attorney - Small Specialty Practice
Alliance
Technology License/KPIs
43 Additional Factors 953
954
955
OVERVIEW •
Strategic Alliances
•
Your Strategic Objectives
•
Strategic Alliance Inventory and Opportunity Audit
•
Converting From Theory To Application 956
•
Brutal competitions
•
Disloyal market
•
Commoditization of products and services
•
Multiple options and alternative to fill a given need
•
Fear, Apprehension, Uncertainty
•
Few trusted advisors 957
•
Strategic alliances are nothing more than old fashion partnering with a strategic twist.
•
Means to dramatically expand and enhance your ability generate markets / business / clients-customers / image / posture / profitability all with minimal spending of time effort / expense / manpower / risk.
•
Opportunities are limitless. Only limited to your inventiveness your ability to look inside and out. 958
•
Mergers and Acquisitions aren’t the only way to go. Strategic alliances are nothing more than old fashion partnering with a strategic twist.
•
Mergers have slightly increased over 5 years while Strategic Alliances have doubled.
•
1996 – 1999 companies with $2 billion in revenue or more formed an average of 138 alliances – Forbes 3/21/2001. 959
•
The number of alliances is growing by 20% a year with 10,000 new alliances being reported in the last 12 months alone
•
More than 20% of the revenue generated from the top 2000 U.S. and European companies now come from alliances
•
Enterprise.com survey • 49% Businesses Reports More Worth • 21% Higher Revenues • 38% Increased Productivity
960
90%
of corporate executives surveyed
felt a Strategic Alliance or Joint Venture with another company was absolutely essential to maintain a competitive edge.
961
•
Strategic Alliances can be a partnership in which you combine efforts in anything from getting a better price for goods, by buying in bulk together, to seeking business together with each company providing part of
the package. •
Alliance represent an essential strategy for achieving top-line growth, higher profitability and enhanced business franchise. 962
Allstate / Sears
Amex / Mailer inserts
University Clothes / Macy’s
Boutique Equity – new business
Old Bernard / Baruch / Rothschild / Rockefeller Story
Liquid Audio – 20 Alliances 963
Joint Ventures
Co-Branding
Host – Beneficiary
Equity Partnerships
Endorsements
Flipped Business Opportunities
License or Acquired Licensee
Core Competency Consulting
Reclamation
Sales Force
New Products/Markets
Acquired Leads
964
Joint venturing allows the best of all possibilities. You can easily repackage or create new businesses together with each company providing part of
the package.
Mini Marts with McDonalds, Pizza Huts, Subways, etc.
Banks in groceries 965
Co-branding allows two companies to come together to use both brands behind products. ◦ Coke and Proctor & Gamble create spin off to market non-carbonated drinks and Pringles products. ◦ P&G gets access to Cokes 16,000 markets. They both share in the profits.
966
1.
You can use it to achieve advantages of scale, of scope, or of speed. You can take
advantage of other people’s infrastructure. You can take advantage of other people’s
reach. You can take advantage of other people’s resources that you couldn’t have. 967
2.
You can increase market penetration. You can do it locally. You can do it regionally. You can do it nationally. You can do it internationally or by
niches.
968
3.
You can enhance your competitiveness in local, national and international markets because now you’re in association with somebody who’s a dominant force…
somebody who’s already built a market… 4.
You can enhance product development.
969
5.
You can develop new business opportunities through products and services.
6.
You can create new businesses at will by understanding that you’re not limited to just your own company’s product.
7.
You can get control of tangible and intangible assets that organizations don’t even know they possess. 970
8.
You can use strategic alliances and joint ventures to sharply reduce costs/increase profits.
971
9.
There are a lot of things that you can’t
afford to do on your own. But if you joint venture them and you only pay for other organizations in direct proportion to the revenue that comes in, that actually is no longer a cost. They’re an income stream.
972
•
The number of alliances is growing by 20% a year with 10,000 new alliances being reported in the last 12 months alone
•
More than 20% of the revenue generated from the top 2000 U.S. and European companies now come from alliances.
973
•
•
Enterprise.com survey •
49% Businesses Reports More Worth
•
21% Higher Revenues
•
38% Increased Productivity
90% of corporate executives surveyed felt a Strategic Alliance or Joint Venture with another company was
absolutely essential to maintain a competitive edge.
974
1.
Strategic alliances and joint ventures/resource leveraging deals --- once you understand the dynamics and mechanics, are easily established.
2.
They only add to your own selling efforts (power of geometry).
3.
It increases your sales massively, and thus your profitability.
4.
It lowers the barrier of entry.
5.
It boosts your market presence. 975
6.
It provides added value to clients.
7.
It contributes substantially to perceived client benefits.
8.
You can enter emerging markets
instantly. 9.
It expands your horizons, goals, aspirations, vision. 976
10.
You get to speed your access to wide
varieties of new markets. 11.
You can expand beyond your geographic
boundaries 12.
You can gain a foothold in
international/niche markets. 13.
You can control other people’s markets.
14.
You can gain a competitive advantage. 977
15.
You can rapidly overpower the competition.
16.
You can joint market with people and share the cost.
17.
Joint selling or distribution
18.
You can collaborate to design new products or combinations with other people, using THEIR resources, technology, staff, talent.
19.
You’ve got total flexibility in the way you operate.
978
20.
21.
22. 23.
24.
It’s less risky. Requires less/no cash; you give away no equity, either. You can acquire a technology license.
You can get research and development done for you free. You can access knowledge and expertise/talent beyond company borders. 979
25.
26. 27. 28.
29.
It can strengthen YOUR expertise in an industry as a result of the relationship association. It extends your product/service offerings. Widens your scope of innovation You can secure your position as front runner in your market any new/niche markets you address. You can provide marketing or selling, or have someone else provide marketing or selling. 980
30.
You can easily establish purchasing and supply relationships.
31.
You can set up instant distribution networks all
over the… (fill in the blank) --- country, industry, nation, continent, world… 32.
You can capitalize on all kinds of hidden assets and overlooked opportunities (underperforming activities, underutilized relationships/credibility). 981
33.
You can make much higher ROI’s and ROE’s on alliances than from your core/main business.
34.
You can keep focused on your own core business
while expanding, exploiting and harnessing this vast, expanded stream of possibilities. 35.
It lets you maximize (and multiply) and stretch your own management, talent, economic, technical and operational resources.
982
36.
You can outsource every non-core competency, and get it performing at many times higher level of capability and results, and only pay for it in direct proportion to its results to your bottom line.
37.
Reduce your overhead through shared costs, lower pricing and outsourcing.
38.
It’s a growth/expansion mindset.
39.
You’re capitalizing on all the goodwill other entities have created over years. 983
40.
There are lots of different kinds of
alliances. 41.
You can flip business opportunities.
42.
You could do equities in all kinds of
strategic partnerships.
984
43.
You can totally reinvent business opportunities. You can access production that you can’t afford, because there’s always going to be somebody somewhere who’s got excess production. You can get access to delivery, facilities, technology, procedures, intellectual capital --- all kinds you never had before. You can license other people’s marketing, or other people sales ability, or other people’s management skills, other people’s cash flow management… 985
The world truly IS your oyster…
once you fully grasp the magnitude of possibilities that Relational Capital maximizing strategies make possible.
986
Leveraging and Maximizing
Relational Capital allows any business to outrageously expand,
generate and penetrate multiple new markets, and acquire/generate significant quantities of new clients, buyers, customers, and distributors.
987
1.
New Income from What a Business Already Does
A)Referral Systems B)Reactivating Old Buyers C)Getting More Prospects to Buy
988
2.
Adding New Profit Centers to Their Existing Model A) Selling other Things to Existing Clients (i.e. home improvement, reusing prospects and buyers)
989
3. New Ways to Use Their
4. New Ways to Use or Take
Assets, Resources and
Their Business, Products,
Activities
Services to Other Fields
A) Authors and Consultants
A) Amusement tokens
B) Nightingale Conant
B) Free-memberships
C) Telemarketing
C) Licensing art designs
D) Licensing
990
5. New Ways to Use Under-Performing Activities A) Getting the rights to something and flip it (ground floor window advertising), sales force B) Art at a seminar
6. New Ways to Get Other Sources to Drive Sales to a Business A) Finder B) Concierge
991
7. New Ways to Profit from a Business’s Problems 8. New Ways to Monetize a Business’s Access A) Cruise ships/art B) Apartments and Starter Home Builders C) Experts, clients and
endorsement/introductions
992
9. New Ways to Supply the Equivalent of Capital A) B) C) D)
Barter Experts Facilities Services
10. The Three Keys A) Show Businesses how to: B) Maximize what they are already doing C) Multiply the ways they can do business/profitgratis D) Repurpose what they’ve already done/monetize sunk cost/relationship 993
Products
Services
Talent
Processes
Transportation /
Relationships
Logistics
Purchasing Power
Space Offices
Distribution Channels
Six Degrees of Separation
Selling/Marketing Personnel
Production /
994
Credit
Management
Raw Materials
Skill Set
Advertising
Training
Marketing
Equipment
995
Facilities
Distribution
Credibility
Value Added
Entry Level Products/Services
Sales Extension Product Services
Complimentary Product 996
997
1.
Easily established
2.
Augment selling effort
3.
Increase sales and profitability
4.
Lower barrier of entry
5.
Enhance your image, stature, posture
6.
Expand customer/client base
7.
Boost marked presence
8.
Provide added value to clients 998
9. Contribute substantially to perceived client benefits 10. Enter emerging markets 11. Expand your horizons
12. Speed access to a wide varieties of new markets 13. Expand beyond geographic boundaries 14. Gain foothold in international marketplace 15. Control other peoples markets 16. Gain a competitive advantage
999
17. Rapidly overpower the competition 18. Joint marketing 19. Joint selling or distribution
20. Design collaboration 21. Quicker to create/form 22. More flexible to operate 23. Less risky
24. Requires less cash 1000
25. Technology license 26. Research and development 27. Enhance R&D capabilities
28. Access knowledge and expertise beyond company borders 29. Strengthen reputation in industry as result of association
30. Extend product offerings/ Widen your scope of innovation 1001
31. Establish unique position in market 32. Secure position as front runner in marketplace 33. Provide marketing / selling 34. Easily establish purchasing / supply relationships 35. Set up instant distribution networks 1002
36. Capitalize on hidden assets 37. Earn higher ROI’s and ROE’s on alliances than from your core/main business 38. Difficult for your competitors to imitate or emulate 39. Remain focused on your core opportunity
1003
40. Outsourcing non core competencies 41. Lets you maximize / stretch your management and technical / operational resources 42. Reduce overhead through shared costs and outsourcing 43. Manufacture / fulfill cost effectively
1004
1005
Equity in deal
Equity in client
Equity in brand
Equity in distribution channel
Equity in buyers and prospects
Equity in marketing material
Equity in process and intellectual property 1006
Seminar company getting attendee endorsements
Association uses local paper for distribution of charity fund and get multiple write-ups
and endorsements
My seminar business - Tony Robbins,
Success, newsletters, trainers 1007
William Simmons Home
A.R.P - Colonial Penn
John Ritter - Where there is a will
A.R.P –
there is an “A”
Tom Bosley – Agora
Fran Tarkenton - Tony Robbins 1008
Magazine subscriptions / Schools
Reinventing Business Opportunities
Brand / actual products / services / proprietary products / lists / research / sales force / too much capacity / facilities/ processes 1009
Mastermind/Brain Trust
Profiteering
Financing ◦ Promotions ◦ Sales force ◦ Ads ◦ Markets ◦ Product Lines
Reinventing Business Opportunities 1010
Jobs
Capacity
Lists
Facilities
Space
Technology (Doug
Production
Talent
Procedures
Distribution
Intellectual Capital
Delivery
McMillian)
1011
◦ Sales Force
◦ Licenses
◦ Retail Stores
◦ Display Window
◦ Kiosks
◦ Inserts
◦ Signage
◦ Polywrap
◦ Leases
1012
◦ Bind in
◦ Acquire Leads
◦ Blow in
◦ Unconverted
◦ Lease ◦ Purchase
Prospects ◦ Inactive Clients
◦ Option
1013
1.
Marketing
2.
Sales
3.
Management
4.
Cash Flow
5.
Organization
6.
Performance Enhancement
7.
Information Technology
8.
Advisory Board
1014
Brand Name
Technology /Methodology
Promotion / Marketing Expert
Products / Services - Private
Processes
Image / Design / Facsimile
Territory / Market / Industry 1015
Attracting or rendering world class
expertise on a performance compensation basis. ◦ Core
◦ Critical ◦ Dual
1016
1017
One of the BEST ways to rapid growth is to open / develop / create new products or markets
Take over, re-purpose, package together other company’s product and / or services
Acquire Sales Distribution
Re-purpose your products to new markets
Identify players in new markets you can joint venture / partner with 1018
Sales Force
eBusiness
Who has the internet /e-mail expertise, affiliate software, infrastructure, e-mail
lists, IT staff, equipment, data software, etc., you need or want access to?
1019
1. Start with the “big picture.” What key
components are necessary to drive it?
2. Where are they going to come from, why is it necessary, and what are your alternatives and
options?
3. Vastly expand markets, products, distribution, sales representation & cost effective impact. 1020
4. Gain valuable or strategic assets, access, resources or talent. 5. Acquire or access the good will, trust, credibility of older, larger more respected entity, organization, publication, selling
force or individual.
6. Gain more upside leverage. 1021
7. More optimally deploy someone else’s assets.
8. Find opportunity in someone else’s adversity.
9. Leverage off something valuable
someone else invested, tens, hundreds of thousands, millions or even tens of millions to create, acquire or develop. 1022
The more powerful your brand the more profitable the strategic alliance.
What else can you do with your brand?
Who else’s brand can you deploy or ethically exploit?
How many different ways can you do it?
This goes both ways.
Disney / McDonalds 1023
1024
◦ Products / services ◦ Distribution channels ◦ Sales personnel ◦ Sales methodology ◦ Technology (software/hardware systems) 1025
◦ Other productive processes/methodology ◦ Facilities & equipment ◦ Underutilization ◦ Intellectual property / Technical abilities
1026
◦ Brand Good will / Trust with specific groups / markets / media Core competencies Affinity 1027
What periodicals /advisory materials are used by the market I want to reach? • Who provides these product / services?
What problem or opportunity does your product / service solve for your prospect / client? 1028
What other type of business, organization, profession
etc., has more to gain than even you do by seeing you either acquire a client, or sell a specific product,
service or combination? And why?
What other market or industry could use / benefit from my product, selling system or methodologies? 1029
What is the MNW of my client / prospect worth to someone else?
What are your highest margin products or services?
What are your highest repeat purchase products or services?
1030
What logical products can be created by you, acquired by you, can be
adapted / adopted?
What markets could your products or services also apply or translate to?
What related fields could you penetrate?
What parallel universes are most similar to yours?
What other business markets, products or services have you been thinking
about?
1031
Look for additional alliances, markets: •
Take on their products or services
•
Provide services, functions
•
Share personnel facilities
•
Sell equity or buy equity
•
Develop referral/alliance feeder program 1032
•
Strengths and weaknesses of target organizations, prime
assets, attitude, key important point of impact / interest (i.e., money), purpose, reclamation. •
The best partner will have what you don’t have – strong where you are week, etc.
•
Match your companies capabilities with people who
share your objectives. 1033
•
Look for companies to partner with who are one step ahead of their competitors.
•
Large companies can make good partners.
•
Who has a sales force I can tap into?
•
Who sells to the same demographic profile I want to reach? 1034
•
Who has the trust, respect, and good will with my prospective market?
•
Who has authored a book that’s respected in my field?
• •
Who is not a direct competitor?
Why, when and how should an alliance with suppliers be considered?
1035
Fully 50% of alliances today are between competitors ◦ Coke and Pringles – distribution in specific markets ◦ Ford and Nissan – mini van design and manufacturing
◦ Phillips and Sony – optical discs ◦ HP and Cannon – laser printer markets 1036
What could competitors offer to your market that you can’t?
Who are the industry gurus my market follows?
Who are weaker but quality competitors?
1037
Explicit
Implicit
How you actually verbally, transactionally relieve / mitigate them?
1038
An alliance is rarely a perfect match made in heaven
Thoroughly analyze your options ◦ Where / what the real leverage is in every deal
◦ What do you expect to gain from the alliance deal
Don’t try to structure a deal instead architect a successful business
All deals must be structured fairly
1039
1040
1.
Taking your generic lists and making them specific and Personalized ◦ List of all viable companies / individuals in the field who could become strategic partners Contact info List of key decision-makers services they offer Printout from their web site Create Database (Outlook)
List of product
1041
2.
Contact
◦ How to present your proposition. Host Beneficiary Using preemptive presentation 1042
◦ Phone contact-rules to follow.
◦ Pre-contacting by letter. What you need to do. ◦ Identifying in advance probable objections, resistance points you’ll encounter. Preparing in advance your response to possible objections. 1043
“How do I know it’s not going to take
away my clients?” “I want control. I don’t like you having control of my clients.” “How do I know I’ll get paid?” “It’s not the business we are in.”
1044
3. Traps To Avoid Failing to take the time to select the right partner(s) Failing to plan for flexibility and change Failing to agree on objectives and goals
Failing to plan properly for integrated growth requirements 1045
◦ Being Strategic ◦ Understanding the psychology from both sides
How do and should you look at Joint Ventures, Alliances, Endorsements? How should you look at people committed
to you to do the deal? 1046
Taking away the risk for both sides Incremental gains Margin net worth factor Strategic advantage Preemptive opportunities Perception advantage
Crafting an agreement - Look before you leap 1047
Things To Think About ◦ Terms, duration, mutual performance expectations
◦ Non-corporate / corporate (depends on who’s doing what) ◦ Residual stream after deal ends ◦ Termination - value; does it dissipate / remain ◦ Buy / Sell ◦ Who owns what - Assets, Accounts, Prospects, Brand, I.P. ? 1048
Making the deal work ◦ Be inventive ◦ Keep your eye on the prize, don’t loose track of the end result 100k - 90k = 10k in profit
◦ Tie up right / control – manage other JV/SA activities 1049
Making the deal work ◦ The alliance must be embraced from the top down ◦ Before the alliance begins, communicate effectively about the respective roles,
expectations, capabilities, and performance functions ◦ Only 2-4 wisely chosen alliances can yield 50100% increase! 1050
Turning the one time deal into an ongoing revenue source
Program the relationship for perpetual ongoing regular offerings through preempting the channel
Create ongoing streams of revenue 1051
Monitoring and measuring results
Q&A
Yours
Mine
Your Prospective Deal Partners
1052
1.
How many clients do you have?
2.
How are their names maintained?
3.
How many inquiries do you have?
4.
Do you make any profit money/ surplus currently? 1053
1.
Save cash on capital expenditures.
2.
Increase your total sales
3.
Barter lets you pay operating expenditures – even payroll – with soft dollars.
4.
5.
6.
You can print your own currency, i.e. “script” which is usable only at your place of business. Automatically get terms, credit and discounts far more easily than you could by paying cash. Breakage 1054
7.
Cash conversion
8.
Create a barter profit
8.
Home Shopping Network
10.
Vastly expand your available advertising budget without using any cash
11.
Finance rapid growth without cash
1055
12. Ability to instantly and continuously generate a steady stream of profits at far above close-out prices
13. Turn excess inventory into cash without losing regular business. 14. Recycle dollars right back to your own pockets.
15. Stockholder benefits 1056
5. What is your most profitable business area currently?
6. How do you market? 7. What would you like to accomplish? 8. Who is your competition? 9. Who is your prize client? 1057
1058
1059
1.
The people who are constantly making things happen.
2.
The ones who watch things happen.
3.
The people things keep happening to. 106 0
Think about which path YOU want to pursue and how you can use these Steve Jobs’ lessons to create your own AMAZING life and career while applying preeminence.
1061
He was the best entrepreneur-ever. You could decide to be the best financial planner,
or operations manager or professional too!
Steve Jobs always felt that whatever
goal/objective he was pursuing—it was like being part of leading a revolution.
1062
Steve Jobs asked people, “Do you want to spend the rest of your life and career merely selling stuff—OR would you rather spend every second...of every
hour...of every day of the rest of your life and career transforming lives and families’
futures?” 1063
Jobs was “obsessed” with what he called creating “..the most insanely great
computer in the world.”
Steve Jobs’ work and life had far-reaching effects in both culture and industry. 1064
Steve Jobs ALWAYS said… “A lot of times people don’t know what they want until you show it to them.” Steve Jobs once said, “...My goal is to go beyond what everyone else thought possible.” Steve Jobs felt that mediocre effort and work would be quickly forgotten. But truly great work...truly great, preeminent work will go down in history. 1065
Steve Jobs felt you had to do whatever it takes to delight clients. ◦ IF you thought carefully/ considerately/
preeminently always about what it was like to be in your client’s shoes/place—what a huge difference it could make to how you acted AND how well you connected with every prospect/client you ever
reached. 1066
Steve Jobs refused to cut corners to make certain his client received the
best possible outcome.
Steve Jobs was passionate and patient
about everything he did. 1067
Another part of Steve Jobs passion came from his utter enjoyment of what he did— and he found his work highly worthwhile. Steve Jobs told everyone who ever worked with him: YOU MUST WANT TO BE BUILDING SOMETHING TOGETHER THAT LASTS!
1068
People drew courage from Steve Jobs’ life, courage that fueled and propelled them to
redefine who they were, how they conducted their careers.
Steve Jobs felt that to waste precious time being ineffective is a sin. 1069
Steve Jobs’ influence went well beyond mere
techies—is your influence through all you could be accomplishing going well beyond
just your job or department?
Steve Jobs gave people the courage to pursue what they were most passionate about.
1070
Steve Jobs redefined the way people communicated with one another. Steve Jobs wanted to change the world and make it a better place for everyone who lived in it. Steve Jobs gave clients products most of them didn’t even know that they badly needed.
1071
Steve Jobs took the time to think about things differently than anyone else had done. He had more clarity. He inspired so many. He created
a heightened ethos that challenged people to higher standards for themselves. His energy and commitment was unstoppable. 1072
Bottom line?
No matter what your role…no matter what you do...you have today—right now—the
ability (not unlike Steve Jobs) to change people’s lives—and those changes can lead to massive improvements of the quality of our
entire world. 1073
• Do you have the energy, the courage,
the passion, to never stop caring, contributing and growing—growing yourself and growing everyone else you impact?
• Are you only interested—like Steve Jobs –in doing ONLY truly great at whatever you do?
1074
The soul of what I am creating is to rally the
spirits and passions of quality people like you who want to apply The Strategy of Preeminence and do things better, differently, more meaningfully for ALL who matter.
1075
1076
"Never give in. Never, never, never‐‐in nothing great or small, large or petty‐‐never give in, except to convictions of honor and good sense. Never yield to force. Never yield to the apparently overwhelming might of the enemy. " –Winston Churchill 1077
Never give in and never give up
Fight against mediocrity and commoditization
Unique Selling Proposition
Focus on Your Marketplace – not your own self interests
Make your market, your client, your prospect, your recipient of product – the center of attention. 1078
It’s not about you – it’s about them
Fall in love with the people you serve
Appreciative, empathic, respectful love for who they are and where they are in their business and lives.
1079
Do You Bring Meaningful Value to Others
Ask for feedback to gauge whether you do or not
What you think may be appealing, exciting, worthwhile your market may find worthless
Consistently ask yourself, your team etc. – whether everything you do or say really adds value
1080
Entrepreneurs vs Proprietors
(Are you a Multiplier or a Diminisher) ◦ True entrepreneurs are the driving forces of positive upheaval in their industries, markets and business worlds They love change and embrace challenges and sees them as opportunities 1081
◦ An enterprise that does not commit itself to
constantly innovate inevitable dries up declines then dies ◦ Innovation – anything tangible or intangible that brings greater value, benefit, contribution, advantage, enjoyment, etc..to a marketplace ◦ Shift yourself out of the doomed world of business proprietor and into the dynamic, vibrant, possibility-based world of entrepreneurship. 1082
Become a “Born Again” Entrepreneur Become supremely receptive to seeing change in marketing, change in consumer buying habits, change in competitive offering as an opportunity rather than a
threat. Continuously evaluate your business and its performance as an innovator/value creator
in as many critical categories as possible. 1083
• Learn to overcome resistance to innovate,
by wanting/craving continuous breakthroughs in marketing, strategy, innovation, your business model, your
competitive positioning. • ** Free your mind to see your challenges as “benefits ** 1084
Five Insights
Joint Ventures/Alliance Deals allow you to
penetrate new markets and acquire high quality clients with NO risk or fixed investment
1085
Leveraged Marketing – allows you to create almost unlimited profit power by multiplying and magnifying the performance yield of everything you do
Ancillary marketing lets you create multiple, new income streams, profit resources by repurposing your brand, distribution channels, old buyers or even unsold prospects.
1086
◦ Change headlines or shift the opening in a sales proposition can increase sales response
◦ Preemptive Marketing and Referral Programs “block” ALL your other competition from being compared to you
Systematic Referral 1087
◦ Up-the-Ante – Look at things From a Strategic Angle On your strategy performance, your business model impact, your competitive
positioning clout. Replace or Adjust underperforming aspects of your business 1088
Optimization Performance Enhancement Quotient ◦ Identify the hidden opportunities, overlooked revenue streams, underperforming activities you
can most quickly/meaningfully improve. ◦ Joint ventures, preeminence, leverage marketing, preemptive positioning, referral selling, mining
ancillary income streams…. 1089
No one needs to be constrained in their pursuit of possibility, purpose, and passion. Purpose is having an "ideal" that's infinitely more auspicious and transcendent than merely making money. Passion is the joy, vision, hope for others and animated reality ‐‐ you focus all your efforts on manifesting.
1090
1091
You always have the ability in all of life to be either the victim or the victor
98% of your life, career, marriage, financial situation, family matters are ALL the result of either things you DO or things you DON’T do.
1092
All we have is today–forward ◦ You can use this infinite opportunity to grow, add value, contribute to people and
the world ◦ Or you can suck the life emotion and
passion out of everyone you’re around
1093
We are in absolute control of our fates and destinies ◦ I am NOT a fatalist – if you don’t like something – change it Take meaningful corrective action
1094
It takes critical thinking, courage,
committed/continuous forward motion and action ◦ As well as course correction Many people “fold” the first time they hit
resistance, a setback or non-success. You must correct after you experience adversity. 1095
Whether you pro-act or react. Whether you initiate or contemplate. Whether you feel victimized or “empowerized” is totally up to YOU!
Your fate, your happiness, your prosperity your health – it ALL lies in
your hands. 1096
1097
1098
****
1099
1100
I
hope you now possess the
knowledge tools to eliminate uncertainty, constraints or bottlenecks in your business’ successful growth.
1101
Let’s
see – now we’ll do your
customized Action Game Planning to see how well you grasped what I/we shared and also how well I explained it.
1102
1103
1104
What is the True Nature of Reality in The 21st Century? You Are Not Alone.
RS
GO VE RN
E OM ST
ME
CU
NT
SHAREHOLDERS
s
PL EM
Know-How
S EE
SU P
PL
OY
IE RS
l cia an
Pr od uc ts
Fin
Business Ecosystem
ed et ers rg Ta tom s Cu
Pe op le
Market
LENDERS & DEBTORS
No organization can be successful, let alone turn itself around, if it fails to recognize that it is part of an ecosystem. — Carlos Dias & Jay Abraham
1105
The Strategic Wealth Creator System ™ Six Strategic Processes Linking the Organisms of the Business World
l cia an s
s5 es sly oc ou w Pr tinu Ne cts g n u C o t i n od s ea Pr ice Cr e S iqu erv EE Un & S OY
PL EM
Know-How
Sh P ap r oc o C r f Y i ng e s s ea ou th e 3 t Wi ing r Co De m p st i nn & ing Exe an ny SU St cut y, ra PP teg ing LI y a ER S
Fi n
Business Ecosystem
Pr od uc ts
Pe op le
Market
S ER OM ST ng s 2 eri CU e s l iv oc De alue Pr & g eV n t i n q u si t i o ea ni Cr a U ropo P
Process 1 Annual Adjusting Your Vision
ed et ers rg Ta tom s Cu
GO VE RN ME P NT Le roc v Po er es we a g s 6 i A li r of n g t gn Hu he me ma nt n
SHAREHOLDERS
Process 4 Developing, Implementing & Evaluating Powerful Sales & Marketing Strategies LENDERS & DEBTORS
No organization can be successful, let alone turn itself around, if it fails to recognize that it is part of an ecosystem. — Carlos Dias & Jay Abraham
1106
How Your Mindset Drives Your Results Arrogance
Caution: Always Lead to Failure in Life Feelings Acceptance
Denial
Blindfolds
Positive or Negative Emotion
True Nature of Reality Cognitive Dissonance
Thoughts (60,000 per day, estimated) Thinking (subconcious mind)
Mind
Values
Beliefs and Paradigms
Subconscious Mind
scious bcon r Su u O in red o St
Mind
Decisions
Results
Mental Models (representation of the surrounding world)
Thinking Carefully and Deeply Only by reading, learning, thinking carefully and deeply can we adjust and change our mental models. Here lies the key to “seeing around corners”!
Good leaders are made, not born. If you have a burning desire and commitment you can, with the power of foresight, become an outstanding effective leader. In fact, the future of your corporate family business depends on what you, as CEO, decide to do or not to do. The responsibility is completely yours. Whether you are aware of it or not, everything rests on your thought processes. You must train your mind to perceive the harsh, true nature of reality in a fast-moving world. Do not indulge in make-believe. Effective leaders do not indulge in escapist fantasies .
— Carlos Dias & Jay Abraham
1107
1108
Knowledge Matrix Knowledgeable Unrealistic Reactive Executive
I know I know
I don’t know I know
Wise Realistic Proactive Executive
Unknowledgeable Unrealistic Reactive Executive
I know I don’t know
I don’t know I don’t know
Executive Personality Styles Analytical
Driver
Dependability Thoroughness Sequential Thinking Informed, Practical Factual Evidence Professionalism
Know What They Want ntt Forceful Act Quickly Balance Cost & Quality Explain Needs Clearly Results Oriented
(under stress, avoid)
(under stress, become autocratic)
Amiable
Expressive
Avoid Pain Slow People Oriented Ask, Why? Listen Look for Approval Cooperative
Adaptability See Big Picture (share) e) Sociability Innovator Open Information Collaboration Teamwork
(under stress, become stubborn)
(under attack, attack)
Self-Esteem
Commitment
Knowledgeable Unrealistic Proactive Executive
Two Qualities of Leadership for Turbulent Times
Interactive Management
Inactive Management
Persevering Accurate Thinker Leader: I say what I mean, and do what I say
Stubborn Leader: Do what I say, not what I do
5%
30%
Proactive Management
Reactive Management
Wishful Thinking Leader: Following a leader I can leverage my strengths
Stubborn Wishful Thinking Leader: A dangerous leader for turbulent times
5%
30%
“Every truth passes through three stages before it is recognized: 1. In the first, it is ridiculed 2. In the second, it is opposed 3. In the third it is regarded as self-evident” Arthur Schopenhauer (1788-1860), a German philosopher 1109
1110
Why Your Breakthrough Idea Is Not a Thriving Success You Know That…(Intellectual) Facts
Theory
Things as they actually are, as opposed to notional ideas based on assumptions, guesses, or “gut feel.”
A formal set of ideas intended to explain why something happens or exists.
But You Don’t Know How…(Practical) Concept
A label connected to something that does not yet have physical reality.
Method
A practical way of doing something.
Thinking Process
A series (steps) of things that are done in order to achieve a particular result.
The two missing ingredients for success in a fast moving world.
Static (thinking) information
Understanding how to get things done: Value Creation
A fact without a theory is like a ship without a sail. A theory without a concept is like a boat without a rudder. But if there’s one thing worse in the business world, it’s creating a stark concept with the potential to create profitable value, but not knowing how to decode it to get it implemented. Unfortunately, that is the end-result from most books and seminars in the market today. — Carlos Dias & Jay Abraham
1111
The Four Dimensions of Intellectual Capital
Human Capital
Social or Relational Capital
Structural Capital
Customer Capital
What is it? Suitable knowledge, skills and experience.
All organizational relationships (inside and out).
Basically everything that remains in your company after your employees go home.
Customer loyalty, distribution channels, licensing agreements, customer lifetime value.
Why is it important? To ensure your company has the right mix of talent at the right time to implement your strategy.
To negotiate and make the myriad of daily decisions, which are the source of inimitable competitive advantage.
To recognize and leverage processes and systems, training, intellectual property, trademarks and copyrights.
To leverage each one of these sources of competitive advantage.
Each of these these dimensions alone contains the potential to profitably grow your sales. Together, these four tools create a multiplier effect, forming a lethal combination that will annihilate your competition, catapult your Return on Assets, and make your organization the leader in your market.
— Carlos Dias & Jay Abraham 1112
Growth and Profit Alone are not Enough to Make Companies Thrive in a Fast-Moving World.
Growth
ar Ye
s
e 7 y nu r e e ev Ev s R e or bl s u e o l Sa e D g ed l ow n K ent elopm v e s D g& 4 Year 1 y r Trainin e Ev oubles D e g ed Knowl
Sooner or Later You’ll Crash Against a Wall
Time 10% CAG (Compound Annual Growth) 5% CAG (Compound Annual Growth)
1113
The Wealth Creation Formula for a Fast-Moving World Why You are Making (or Losing) Money
Net Profit Sales
Net Margin on Sales
X
Sales Total Assets
Return on = Assets
Weighted - Cost of Assets
Wealth Creation = or Wealth Destruction
Assets Velocity
1114
The High Price of Not Listening = Wealth Destruction
35% 30%
2011 Net Profit
25% 20%
Low Friction
Apple 24% ROA Google 12% ROA
Microsoft 14% ROA Intel13% ROA Coca-Cola 11% ROA
15% Procter & Gamble7% ROA
10% 5%
Nike 14% ROA
Kraft 7% ROA
Dell 5% ROA
0% -5%
0.5
1
1.5
2
2.5
3
3.5
4
Blackberry -5% ROA
-10%
Hewlett-Packard -12% ROA
High Friction
2011 Assets Velocity Good listeners = Harmony A pleasing combination of related thinking Bad listeners = Dissonance An unpleasing combination of unrelated thinking
1115
How Organizations Can Help Their Senior Executives Acquire New Abilities for a Fast-Moving World Practical
Individual courses and seminars designed for the older world.
Proven strategic divergent thinking processes designed for a fast-moving world. eLearning: Applied right away to the organization = Higher Return on Investment.
What and How to do.
Reductionist
Holistic
(Benchmarking)
(Ecosystem)
Educational system today (individual MBA, postgraduate courses and seminars) designed for the older world.
Books by renowned management thinkers such as Russell L. Ackoff about System Thinking – powerful concepts.
What, but not How, to do.
Conceptual 1116
Applying the Strategy of Preeminence
Empathy Leadership
Empathy
Focus/Clarity
Power
Understanding
Certainty
Trust
Action
How can I help you achieve the best outcome?
1117