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Cash Flow Is Everything
Look at !our cash "ow and le#els of pro$tabilit! from each product, ser#ice
and
area of acti#it!%
&re !our pro$ts going up or down'
(p
&re the! on budget or going sidewa!s'
Look at the percentages% &nal!)e !our return*on*e+uit!, return*on*
in#estment,
and return*on*sales%
&re the! increasing or decreasing'
If !our goal is to build a great compan!, wh! isn,t !our compan! already
great'
-ore capital re+uired for .mpower network
/hich of !our products or ser#ices is selling well toda!'
-! sales skills and .mpower Network
/hich of !our products and ser#ices are the most pro$table'
-! sales skills and .mpower Network
/hich ones are doing poorl!'
/hich ones do !ou lose mone! on'
0rinking too much alchohol
Is !our current business situation, positi#e or negati#e, in an! area'
-ore capital re+uired
1emporar! or part of a long*term trend'
Longterm
2ow can !ou know for sure'
&ction
2ow can !ou $nd out'
3e4oin .mpower Network with 5I-/6ick 7tri)heus8Like 2obbs8Pro4ect &/OL
/hat should !ou then do'
-ake 9:;,;;; $rst <; da!s
Clarity Is the Key
/h! has !our business been successful in the past'
-! stud! of business
/hat ha#e !ou done well in the past that has been responsible for !our
success to date'
-! stud! of business, marketing and sales%
/hat are the most important skills and competencies that !our compan!
possesses toda!'
-! stud! of business, marketing and sales%
/hat are the #er! best products and ser#ices that !ou o=er right now'
-! stud! of business, marketing and sales%
Look at the people around !ou% /ho are !our most #aluable people'
&>2 7hoppette and (ni#ersit! of -ar!land 5&2 mone!
/ho are no longer as #aluable as before'
/ho represents a net loss or detriment to !our business'
5e prepared to ask and answer the brutal +uestions%
The Customer Is the King
/ho are !our best customers toda!'
Koreans, single males, and business opportunit! seekers
/hat and where are !our best markets'
&sia and the internet
/hat do !our customers like the most about what !ou do for them'
-ake them happ!
/hat do the! compliment the most of what !ou o=er or do for them'
-ake them happ!, talk alot and #er! smart in business and life
/hat is !our number one area of customer satisfaction'
7ales and presentation
/hat do !our customers like the least about what !ou do'
/hen I?m angr! or tired
/hat do the! complain about the most'
Not ha#ing what the! want a#ailable for purchase
/hat is it that !ou sell that !our customers and potential customers prefer to
bu! somewhere else, rather than from !ou'
Identify Your Personal Strengths
Look at !ourself honestl!% /hat are !our own personal best skills, +ualities
and abilities'
.nglish, 7tud!ing, strategic planning, marketing and sales
/hat are the most important things that !ou do at work, and for !our
compan!'
0ail! facilit! impro#ement, strategic planning, marketing and sales
/hat are the most #aluable contributions !ou make personall! to !our
business'
Increase sales, customer ser#ice, and customer retention
Start Where You Are:
:% /hat is working the #er! best in !our business toda!'
7ales and marketing
/hat parts of !our business make !ou the happiest'
-arketing
@% /hat,s not working in !our business'
/aiting on capital
/hat causes !ou the most aggra#ation and frustration'
/aiting on capital
<% /hat are !our most important products and markets'
-e Asales/marketing/english skillsB, .mpower Network in th (7/7outh
Korean markets
/hat accounts for the largest portion of !our re#enues'
&>2 and .mpower Network
C% /ho are !our most important people'
&>2 and .mpower Network
/ho are the people who account for most of !our results'
&>2 and .mpower Network
D% /hat are !our special talents and skills'
/hat is it !ou do that accounts for most of !our success'
E% /hat are the ma4or changes taking place in !our market'
/hat changes should !ou make to compensate for them'
F% /hat are !our most treasured assumptions about !our people, customers,
markets,
products, ser#ices and !ourself'
/hat if one of them wasn,t true'
/hat would !ou do then'
Imagine Starting ver
Gero*based thinking re+uires that !ou appl! this HscraperI mentalit! to e#er!
part
of !our business% Jou do this b! asking this ke! +uestionK
Is there anything that you are doing in your business that,
knowing what you now know, you wouldnt start up again today, if you
had it to do over?
Instead of struggling to determine how !ou might modif!, change, $L, re#ise,
impro#e or alter some business function, !ou instead ask,
HIf I was not doing this toda!, would I start it up again toda!, knowing what I
now know?
1o start with, is there an! product or ser#ice that !ou would not bring to the
market, o=er or sell, if !ou had to do it o#er again, starting toda!'
7ince M;N of !our products and ser#ices are probabl! going to be obsolete
within the neLt D !ears, there
ma! be products and ser#ices !ou are o=ering toda! that, because of
changed market
conditions, !ou would not introduce again toda!, if !ou had to do it o#er
again, knowing
what you now know% 1hese products or ser#ices are prime candidates for
discontinuation
or di#estiture%
Is there an! person in !our business that !ou would not hire, assign, appoint,
go
to work for, or become associated with if !ou had to do it o#er again toda!'
-ost of !our problems in business will come from attempting to work with or
around a diOcult person,
who knowing what !ou now know, !ou wouldn,t get in#ol#ed with again
toda!%
/ho does this bring to mind'
Is there an! supplier, banker or #endor that !ou are dealing with toda! that,
knowing what !ou now know, !ou wouldn,t get in#ol#ed with again toda!, if
!ou had to
do it o#er'
Sin!e many of your "usiness relationshi#s will not wor$ out over
time% you
must "e #re#ared to !ontinually reevaluate them% es#e!ially if they
are !ausing you any
#ro"lems or frustrations&
Analy'e Your Customers
Is there an! customer that !ou are selling to or ser#icing toda! that, knowing
what !ou now know, !ou wouldn,t take on again as a customer'
-an! companies are asking this +uestion about their diOcult customers and
deciding to let them go%
7ometimes, one of the smartest things !ou can do is to H$re !our customers%I
.ncourage
them to go and deal with someone else who would be more appropriate for
them%
Assess Your (usiness #erations
Is there an! expenditure in !our business that !ou would not authori)e again
if
!ou had it to do o#er'
Is there an! process, procedure or acti#it! that, knowing what !ou
now know, !ou wouldn,t start up again, or get into, if !ou were making the
decision
toda!, knowing what !ou now know'
Is there an! ad#ertising, marketing or selling methodolog! or eLpense that
knowing what !ou now know, !ou wouldn,t start up again toda!, if !ou had to
do it
o#er'
Keep asking, H/hat,s working'I
and H/hat,s not working'I
Pay Attention To The Indi!ators
Jou can alwa!s tell when !ou are in a )ero*based
thinking situation because it
causes !ou continuous stress, aggra#ation,
frustration, negati#it! and unhappiness% Jou
think about it continuall!% Often !ou bring it home at
night and discuss it at the famil!
dinner table% 7ometimes it will e#en keep !ou awake
at night%
/hene#er something is not working, or not working
out the wa! !ou eLpected,
or causing !ou stress, $nancial losses, aggra#ation,
or irritation, ask,
Knowing what I now know, would I get into this
again today if I had to do it over?
If the answer is HNoI then !our neLt +uestion is
How do I get out and how fast?
The )e!ision Is Inevita"le
2ere,s an important point% If something is not working, e#entuall! !ou will
ha#e to
get out of it% Jou will ha#e to let the person go, discontinue the product or
ser#ice,
eliminate the acti#it! or eLpense, or change the method of operation% It is
onl! a matter of
time% It is not going to get better all b! itself% &nd e#er! single eLecuti#e who
$nall!
decides to get out of an unhapp! situation sa!s afterwards, HI should ha#e
done this a
long time agoI
A##ly This A##roa!h Continually
Pra!ti!e 'ero*"ased thin$ing as a +go forward, method for the rest
of your
"usiness !areer& A##ly it to everything you do% to every #art of your
"usiness% every single
day& A##ly it to every #rodu!t% servi!e% #ro!ess% #ro!edure and
#erson and "e sure that%
$nowing what you now $now% you would get into it again
today if you had to do it over &
If not% get out% and as fast as you !an&
)raw A -ine .nder the Past:
:% Imagine starting o#er again in e#er! part of !our businessP is there
an!thing !ou
are doing that, knowing what !ou now know, !ou wouldn,t start up again
toda!'
@% Is there an! person in !our business life who, knowing what !ou now know,
!ou
wouldn,t hire, assign, promote or otherwise get in#ol#ed with again toda!,
knowing what
!ou now know'
<% Is there an! product or ser#ice that, knowing what !ou now know, !ou
wouldn,t
bring to the market again toda!'
C% Is there an! in#estment that !ou ha#e made that, knowing what !ou now
know,
!ou wouldn,t make again toda!'
D% Is there an! business acti#it! or process that !ou are using that, knowing
what !ou
now know, !ou wouldn,t start up again toda!'
E% Is there an! customer or market that, knowing what !ou now know, !ou
wouldn,t
take on or get into again toda!, if !ou had it to do o#er'
F% Is there an! career decision that !ou ha#e made that, knowing what !ou
now
know, !ou wouldn,t make the same wa! if !ou had it to do o#er again toda!'
Start With The (asi!s
1he starting point of business anal!sis is for !ou to askK
H/hat business am I in'I
/hat business are !ou reall! in'
/hat business are !ou reall!, really in'I
I soon reali)ed I was in the Hgoal
a!hievement "usinessI A-e 1OO
Q.3GB%
-! business was helping people to
achie#e their personal and business
goals faster b! pro#iding them with
practical ideas
that the! could use immediatel! to get
better results%
1his insight led me from talks and
seminars into audio and #ideo
recording,
books, training programs and Internet
based e* learning on a #ariet! of
sub4ects, including the de#elopment
and presentation of the 1urbostrateg!
Process%
The Customer As Center#ie!e
H/ho is m! customer'I
/ho is the person who bu!s from !ou today' 0escribe !our customer in
detail%
/hat is the age, income, education, position, attitude, location and interest of
!our ideal customer'
-an! companies are not eLactl! sure of the answer to this +uestion% 1he!
ha#e at best an
unclear picture of the ps!chological and demographic characteristics of their
customers%
/ho will !our customer be tomorrow, if current trends continue'
/ho should !our customer be, if !ou want to be successful in the markets of
tomorrow'
/ho could !our customer be if !ou were to change, impro#e or upgrade !our
product or ser#ice
o=erings'
)etermine What You Sell
Jour neLt +uestion isK H/h! does m! customer bu!'I
/hat #alue, bene$t, result or di=erence does !our customer seek or eLpect
to en4o! as a result of doing business
with !ou'
Of all the #arious bene$ts that !our products or ser#ices o=er !our
customers,
what do !our customers consider to be more important than an!thing else'
0o !ou know'
Jour abilit! to de$ne and promote this uni+ue bene$t is the real ke! to
competiti#e
ad#antage and market success% Jou neLt +uestion isK
H/hat do we do especiall! well'I
/hat do !ou do better than an! of !our competitors'
/here are !ou superior'
Customers onl! bu! from a particular compan! because the! feel that, in
some wa!, that compan! o=ers something
that is superior to that of an! other o=ering%
/hat is !our area of eLcellence'
Rack /elch of General .lectric was famous for sa!ing, HIf !ou don,t ha#e
competiti#e ad#antage, don,t compete%I 2is philosoph! was that General
.lectric would
be number one or number two in e#er! market segment in which the!
competed, or the!
would get out of that market%
&re !ou number one or number two in !our market'
Can !ou be'
/hat is !our plan to achie#e this market position'
)e/ne Your Com#etitor
1he neLt +uestion, which we will deal with eLtensi#el! in Chapter :;, isK
H/ho is !our competition'I
Once !ou ha#e identi$ed !our competition, !ou must ask,
H/h! does !our potential customer bu! from !our competition, rather than
from !ou'I
/hat #alue or bene$t does he percei#e that he recei#es from someone else
that he does not feel he
recei#es from !ou'
2ow could !ou o=set this perception'
Set Clear 0oals
In performing an eLamination of !our business, !ou must ask continuall!,
H/hat are m! goals'I
/hat are !ou tr!ing to accomplish'
If !ou are clear about !our goals, what is holding !ou back from achie#ing
them'
Jou need clear, written, measurable, time*bounded goals for e#er! part of
!our
business and personal life% Jou need short*term, medium*term and long*term
goals% .ach
goal must be in writing, with plans for its accomplishment% Jou can,t hit a
target that !ou
can,t see% &nal!)e e#er!thing !ou do in the course of a da! or a week%
/hat are the @;N of !our acti#ities that could account for M;N or more of
!our results'
7ometimes, 4ust :;N of !our acti#ities, if !ou were to pursue them
aggressi#el!, could account for S;N of !our
results%
/hat might the! be'
(e!ome A!tion*riented
/hat actions should !ou take immediatel! in response to the answers to
these
+uestions'
/hat is the #er! $rst thing !ou should do right now to increase !our sales
and
impro#e !our market position'
&nother good +uestion !ou should ask !ourself isK
H/h! am I in business at all'I
/h! do !ou eList'
/hat social purpose does !our compan! ser#e'
/hat loss would occur to societ! if !ou ceased to do business altogether'
Imagine that !ou had to go in front of a go#ernment tribunal each !ear to
4ustif!
!our continued eListence%
/hat would !ou sa! to the tribunal in terms of how !ou ser#e, help, or make
a
di=erence in the li#es or work of !our customers to 4ustif! sta!ing in
business'
1hese are ke! +uestions that !ou need to ask and answer for !our business
on a
regular basis% Jou should ask and answer these +uestions for yourself, as
well% If !ou are
unclear or inaccurate in !our answers to an! of them, the health of !our
enterprise could
be in 4eopard!%
Condu!t A (asi! (usiness Analysis:
:% /hat are !our goals for !our business'
/hat are !ou tr!ing to accomplish'
@% /ho is !our ideal customer'
0escribe him or her accuratel!%
<% /h! does !our customer bu! from !ou'
/hat special bene$ts or ad#antages do !ou o=er that !our competitors
don,t ha#e'
C% /hat business are !ou reall! in'
0escribe !our business in terms of what !ou do for !our customer, what
results !ou get%
D% /hat are the @;N of !our acti#ities that could account for M;N of !our
results'
E% /hat is !our competiti#e ad#antage, !our Harea of eLcellence'I
In what wa!s are !ou superior to S;N or more of !our competitors'
F% /hat speci$c, measurable actions should !ou take immediatel! in answer
to the abo#e +uestions'
Cha#ter Four 1 )e!ide E2a!tly What You Want
he world has the habit of making way for the man whose words and actions
show that
he knows where he is going! ANapoleon 2illB
1urbostrateg! begins with !our deciding eLactl! what !ou want to accomplish
in
the ke! areas of !our business life% Once !ou know !our goals in each area,
!ou can then
decide upon the best steps !ou can take to get there%
The 0SPA 3odel
Jou can use the GO7P& -odel as a guide for strategic planning% 1hese $#e
ke!
thinking tools form the basis for successful business operations%
(egin With The End In 3ind
1he $rst letter, HGI stands for 0oals% 1hese are the ultimate results that !ou
want
to achie#e% Jour goals are the end targets that !ou aim at throughout !our
business !ear
or planning period% Jour goals are !our sales, pro$ts, growth rate, market
share, or
percentage of return on assets, e+uit!, in#estment or sales% Goals are alwa!s
measurable%
/hat are !ours'
Ste#s on the Stair!ase
1he second letter, HOI stands for "4e!tives% 1hese are the steps !ou will
ha#e to
take to achie#e !our goals% 1he! are like the rungs on the ladder to get to the
top%
Jour business ob4ecti#es can be speci$c rates of return from ad#ertising,
le#els of sales of
certain products and ser#ices, number of items shipped and billed, monies
collected and
cost le#els for certain acti#ities% & lower defect rate or a higher sale amount
per customer
can be ob4ecti#es on the path to achie#ing the main corporate goals% /hat
are !our
interim ob4ecti#es'
5ow to 0et There
1he letter H7I stands for Strategies% 1hese are the di=erent approaches that
!ou
can take to achie#e !our ob4ecti#es and reach !our goals% >or eLample,
achie#ing a
speci$c le#el of pro$tabilit! will re+uire producing and selling speci$c
+uantities of
products or ser#ices to a speci$c market in a speci$c wa!% 1here are man!
di=erent wa!s
to go about accomplishing these ob4ecti#es% 1he wa! !ou choose is !our
strateg!, and
ma! determine the success or failure of !our enterprise%
0o !ou produce, market, sell, deli#er !ourself, or do !ou outsource some part
of
the process' 0o !ou sell direct, #ia retail, direct mail, catalog or Internet' 0o
!ou charge
more, charge less, up*sell, cross*sell or discount' 0o !ou enter certain
markets and
abandon others' /hat is !our strateg!' Is it working'
Planning For Su!!ess
1he letter HPI stands for Plans% 1hese are !our blueprints for achie#ing !our
goals% Jour plans are composed of step*b!*step lists of eLactl! what !ou will
do, da! b!
da!, to get from where#er !ou are to where#er !ou want to go% Plans are
alwa!s broken
down b! se+uence and priorit!%
7ome things ha#e to be done before others can be done% 7ome things are
more important
than others in achie#ing the goal or ob4ecti#e% /hen !our plan is organi)ed b!
se+uence
and priorit!, !ou can accomplish much more in less time%
5usiness life consists almost entirel! of pro4ects, one after the other% & pro4ect
can
be de$ned as a multi"task #ob, a 4ob made up of man! small 4obs, each of
which has to be
done properl! to complete the larger task% Jour abilit! to plan, organi)e and
complete
multi*task 4obs, e#er larger and more compleL, is the most important single
element of
!our success, in an! $eld%
)evelo# a (ias for A!tion
1he last letter in the GO7P& process, H&I, stands for A!tions% 1hese are the
speci$c tasks
that !ou are going to complete to carr! out the plans to implement the
strategies to
accomplish the ob#ectives to achie#e !our goals%
.#er! important task must be clear, measurable and time bounded% It must
be assigned to
a speci$c person who is +uali$ed to perform the task correctl!, on time and
on budget%
$hat gets measured gets done!
Fo!us on Pro/ta"ility
1he central purpose of 1urbostrateg! is to boost !our cash "ow and pro$ts,
and
to increase !our return on the mone! in#ested in !our business% 1he aim of
strateg! is to
generate a higher le#el of cash "ow and pro$tabilit! than !ou would reali)e
without the
strateg!, or with !our pre#ious strateg!% In short, it is to make more money
than !ou are
making right now from the wa! that !ou are doing business toda!%
1he essential resources of people, mone! and talent that !ou need to
succeed in
!our business are alwa!s limited% 1he! must be focused and concentrated for
maLimum
results% 1his is what a good strateg! enables !ou to do%
Four Ways to Im#rove Your (usiness
7etting strateg! re+uires making hard decisions in four areasK >irst, !ou must
decide what !ou are going to do more of%
/hat,s working'
/hat is selling well'
/hat products, ser#ices and acti#ities are the most pro$table'
7econd, !ou must decide what !ou are going to do less of%
/hat,s not working'
/hat contributes #er! little to growth and pro$tabilit!'
/hat should !ou discontinue or eliminate based on the realities of toda!,s
market and toda!,s customers'
/hat can !ou do to reduce costs in areas where the! contribute #er! little to
results'
1hird, what are !ou going to start doing that !ou,re not doing toda!'
/hat new products, ser#ices or acti#ities should !ou introduce if !ou want to
increase !our sales and
pro$tabilit!, or impro#e and streamline !our acti#ities'
>inall!, what are !ou going to stop doing altogether'
3emember, the critical resources of time and mone! are alwa!s scarce% 1he
onl! wa! !ou can impro#e results is
b! discontinuing certain acti#ities altogether% Jou can then channel those
resources into
areas where the! !ield higher le#els of business results%
Clarity is the ke! to strategic success% 1he more time !ou take to be
absolutel!
clear about who !ou are, and what !ou want to accomplish, the more
successful and
pro$table !ou will be%
)e!ide E2a!tly What You Want:
:% /hat are !our speci$c, measurable long*term goals for sales and
pro$tabilit! in
!our business'
@% /hat are the speci$c ob#ectives of sales, staOng, production, deli#er! and
customer de#elopment that !ou will ha#e to achie#e to accomplish !our
goals'
<% /hat are the #arious wa!s that !ou can meet !our ob4ecti#es and achie#e
!our
goals'
/hat is the best strategy for !ou in toda!,s market'
C% /hat should !ou do more of and reall! focus on to increase !our sales and
pro$tabilit!'
D% /hat should !ou do less of, based on !our current eLperience'
/hat,s not working'
E% /hat should !ou start doing that !ou are not doing toda!'
/hat opportunities are a#ailable to !ou'
F% /hat should !ou discontinue, and stop doing altogether, so that !ou can
free up
resources for more pro$table acti#ities'
Cha#ter Five 1 )esign Your Ideal Future
$e have been endowed with the capacity and the power to create desirable
pictures within
and to %nd them automatically printed in the outer world of our
environment! ARohn
-c0onaldB
7ome time ago, I conducted a strategic planning session for the senior
eLecuti#es
of a 9:F@ billion dollar compan!% 1he organi)ation was going through a period
of
considerable turbulence, change, competition and new go#ernment
regulation% 1here had
been la!*o=s, $rings, downsi)ing and di#estments% -! clients were the top
eLecuti#es
who had sur#i#ed the recent turmoil, and the blood letting was not !et o#er%
In these
circumstances, the! were both worried about the future and distracted in the
present%
Create A Five Year Fantasy
1o get them centered and focused, I began the strateg! session with a
process that
I call +Ideali'ation&, In this process, which !ou can use !ourself, I had the
members of
the top team create a H$#e !ear fantas!%I
HLet us put aside the current situation for the moment,I I suggested%
HInstead, tell
me what this compan! would look like $#e !ears from now if it was perfect in
e#er!
respect'I
1his eLercise forced them to take their attention awa! from the problems of
the
present and focus their thinking on the possibilities of the future%
&s we went around the room, each person contributed an idea about what
the
compan! would look like if it were perfect% I wrote each idea on a "ip chart
and taped
the pages onto the walls where e#er!one could see them% In less than half an
hour, we
generated @F ideal descriptions%
/e then #oted on these ideali)ed goals and organi)ed them b! priorit!% /e
ended up
with a series of clear ob4ecti#es, including Hhighl! pro$table, tremendous
market
reputation, high stock price, top leadership, fabulous customer ser#ice, great
place to
work, best management, rapid growth rate and top reputation in the
industr!,I among
others%
Thin$ In Terms f Possi"ilities
I then asked them, H&re these goals possible'I One b! one, the! agreed that
all of
these goals were possible in $#e !ears% 1he! might not be achie#able in one
or two !ears,
but in $#e !ears, e#er! one of them could be accomplished with will and
determination%
/e came out of that session with e#er!one re#itali)ed and committed to
working
on achie#ing one or more of those $#e*!ear fantasies% O#er the neLt two
!ears, the
compan! completel! reorgani)ed% 1he! did more of some things and less of
others% 1he!
started doing things that the! had not done in the past, and the! stopped
certain acti#ities
altogether% 1he! took complete control of their corporate destin! and
changed it%
Peter 0rucker once wrote, H/e greatl! o#erestimate what we can accomplish
in one
!earP but we greatl! underestimate what is possible for us in $#e !ears%I
Thin$ A"out The Future
Future*orientation is a ke! element of strategic planning and strategic
thinking%
It is a ma4or responsibilit! of leadership and top people in e#er! area% Onl!
the leader can
think about the future% Onl! the leader can plan for the future% 1here is no
one else in the
organi)ation who can do it, and if the leader does not think about and plan for
the future
as an ongoing part of his 4ob, it will not be done% &s the! sa! in &laska, HOnl!
the lead
sled dog e#er gets a di=erent #iew%I
2ow often and how well the top people in the compan! think about the future
largel!
determines the success or failure of the business% HIf !ou don,t know where
!ou,re going,
an! road will take !ou there%I
1he de#elopment of the +ualit! of future*orientation re+uires that !ou
continuall!
create an ideal image of !our compan! some time in the future% You #ro4e!t
forward in
your mind 6*7 years and imagine that your !om#any is #erfe!t in
every res#e!t& You
de!ide e2a!tly how mu!h you would "e selling and earning at that
time& You imagine
your ideal sto!$ #ri!e% your ideal re#utation in the mar$et% your ideal
wor$ situation and
your ideal human environment&
(a!$ From The Future Thin$ing
Once !ou ha#e a clear picture of !our
ideal future, !ou then return mentall!
to
!our current situation and think about
what !ou would ha#e to do, starting
toda!, to turn !our future #ision into a
current realit!% 1his is called, Hback
from the future thinking%I
-ake a list of all the things that would
ha#e to happen for !ou to reali)e !our
fantas! sometime in the future% It is
ama)ing how !our perspecti#e
changes when !ou
look back from the future, eLactl! as if
!ou were looking back from the top of
the
mountain to !ourself down in the
#alle!, and seeing the eLact route !ou
will ha#e to
follow to get to the top%
-eaders 5ave 8ision
In <<;; studies of leaders re#iewed b! Rames -acPherson, searching for the
common denominators of leadership throughout the ages, the one +ualit!
that all the
studies had in common was the +ualit! of vision% Leaders ha#e #isionP non*
leaders do
not%
1o become a #isionar! re+uires that !ou de#elop the abilit! to imagine,
de$ne,
articulate, share and inspire other people with an eLciting picture of the
future% Jou get
e#er!one in !our business committed to ful$lling this #ision, and to working
toward it
e#er! da!% 1his is the ke! to leadership, and to building a great compan!%
&ristotle wrote, +We "e!ome what we re#eatedly
do&, Jou become a leader b! thinking
the wa! leaders think, both in !our business and in !our personal life% Jou
become a
leader b! thinking about the future, and how !ou can make it a present
realit!%
9ow% 3ore Than Ever
5ut it is in times of rapid change, and turbulence in the market, that an
eLciting
#ision of the future becomes more important that e#er before% & #ision can
become the
force that binds people together into a solid team% It can gi#e meaning and
purpose to
work, e#en when times are tough and pa! increases are not possible%
1here are man! wa!s !ou can approach the de#elopment of a #ision for !our
organi)ation% Perha#s the very "est vision for your !om#any in!ludes
two $ey
!om#onents& First% it is fo!used on your !ustomers and on doing
something for them that
!hanges and im#roves their lives or wor$ in some way& Se!ond% it
!ontains a !ommitment
to excellence % to "e the very "est at doing what you do for your
!ustomers& These are the
$eys to vision&
Jour #ision is to Hbe the bestI at the most important thing that !ou do for
!our
customers% Jour #ision is to ser#e !our customers in such a wa! that !ou are
seen as
superior in a particular product, ser#ice or acti#it!% Imagine that !ou could be
known as
outstanding in an! one thing that !ou do for !our customers% /hat would it
be' Jour
answer can be the starting point of a #ision for !our business that changes
!our future
completel!%
Your Personal 8ision
Jou need a #ision for !ourself as well% Pro4ect forward D !ears in !our
imagination% If !our future were perfect in e#er! wa!, what would it look like'
If !our
income, !our position in !our compan! or $eld, !our famil! life, !our health,
!our 4ob
and e#er! part of !our life were ideal in e#er! wa!, how would it be di=erent
from toda!'
Once !ou are clear about !our #ision, for !ourself and for !our business, the
onl! +uestion !ou ask is,
&ow do I make it a reality?
1op people think continuall! in terms of how? 1he! think in terms of taking
action, of what can be done%
Once !ou ha#e clari$ed !our #ision, and determined what !ou will ha#e to do
to make it a realit!, !ou then do something e#er! da! to mo#e !ou toward
the creation of
!our ideal future% Jou take complete control of !our destin!% &s 0rucker wrote,
H1he #er!
best wa! to predict the future is to create it%I &nd the starting point is #ision%
)esign Your Ideal Future:
:% /hat is !our #ision for !our compan!' Pro4ect forward and imagine that
!our
business was ideal in e#er! wa!% /hat would it look like'
@% /hat is !our #ision for !ourself' If !our life and career were ideal in e#er!
wa!,
what would it look like'
<% Ideali)e in each area of !our business% If !our products, ser#ices, sale and
pro$tabilit! were perfect, what would the! look like'
C% Ideali)e with regard to !our people% If !our sta= were ideal in terms of
skills,
abilities, personalities and results, how would the! be di=erent from toda!'
D% Imagine that a ma4or maga)ine was going to write a stor! about !our
compan!%
/hat would !ou want them to sa!'
E% Pro4ect forward $#e !ears and then look back to toda! from that #antage
point%
/hat would !ou ha#e to change toda! to create !our ideal future'
F% In what one area would it be most helpful to sales and pro$tabilit! if !our
compan! were widel! known as Hthe best'I /hat steps could !ou take
immediatel! to
begin earning that reputation'
Create A 3ission Statement:
:% 0etermine !our personal reasons for doing what !ou do% /hat gi#es !ou a
sense
of meaning and purpose in life'
@% 0ecide upon the <*D ke! #alues upon which !our compan! is based%
In#ol#e other
people in the discussion%
<% 0e$ne the actions and beha#iors that people will engage in, both inside
and
outside the compan!, that are consistent with !our #alues%
C% 0esign a mission statement, an ideal description of what !our compan!
wants to
accomplish for its customers sometime in the future%
7& /rite out a list of !our #alues, and what the! mean, plus !our mission
statement,
and share them with !our sta= and customers%
:& Create a personal mission statement for !our career% /hat do !ou want to
accomplish, and how do !ou want to be known'
;& Create a mission statement for !ourself and !our famil!% /hat is it that !ou
want
to accomplish or achie#e with !our famil! in the !ears ahead'
Cha#ter Seven 1 <einvent Your rgani'ation
'very man of genius sees the world at a di(erent angle than his fellows!
A2a#elock .llisB
Rack /elch of General .lectric once said, HIf the rate of change outside !our
organi)ation is greater than the rate of change inside !our organi)ation, then
the end is in
sight%I
In times of turbulence, !ou should be prepared to rein#ent !our business as
often
as necessar! as !our eLternal world changes%
&s an eLercise, imagine that !ou were starting !our business o#er again
toda!%
/hat would !ou get into, or not get into'
(undle of <esour!es
>or greater perspecti#e, stand back and #iew !our business as a bundle of
resources and
capabilities, like a $re hose of talent and abilit! that can be aimed in man!
directions to
achie#e di=erent results% Instead of limiting !ourself to seeing !our business
as an
organi)ation that is designed to perform speci$c functions, producing and
selling certain
products and ser#ices, think of it as being capable of doing a #ariet! of things
completel!
di=erent from what !ou are doing toda!%
The 0reat Fire
&s !ou think about rein#enting !our business, imagine that !our compan!
burned
to the ground while !ou were awa!% /hen !ou arri#ed at the scene, !ou found
that all
!our sta= were safe and standing around in the parking lot%
&s it happens, there is unoccupied oOce space a#ailable across the street%
Jou
can immediatel! mo#e into the new space and start !our business anew%
2ere is the
+uestionK /hich of !our products and ser#ices would !ou begin producing
and
distributing right awa!, and which ones would !ou not start up again,
knowing what !ou
now know'
E2amine Every <elationshi#
If !ou were starting !our business o#er again toda!, completel! free from an!
encumbrances of the past, which customers would !ou call $rst, and which
ones not at
all' /hich #endors, suppliers, bankers or other people would !ou immediatel!
get in
touch with, and who would !ou call later, if at all' /hat would !ou do $rst'
/hat would
!ou do second' /hat would !ou not start up again, knowing what !ou now
know'
<einvent Your Sta= <elationshi#s
Now, let,s go back to the parking lot% Let us assume that all of !our people
are
safe and standing around waiting for instructions% /hich of them would !ou
take across
the street with !ou to the new business, and which ones would !ou lea#e in
the parking
lot' /ho would be the $rst and most important person whose ser#ices !ou
would want to
secure' /ho would be the second most important' /ho would be third' &nd
so on%
E2amine Your rgani'ation
If !ou could rein#ent !our business, what would !ou do more of' /hat would
!ou
do less of' /hat would !ou start doing that !ou are not doing toda!' /hat
would !ou
stop doing altogether'
In rein#enting !our organi)ation, ask !ourself, H/hat are m! most important
talents, skills, abilities and core competencies, and what else could I do with
them' /ho
are m! best people and what else could the! do' Keep thinking about how
!ou would
rein#ent !our business if !ou were starting o#er% 1his will keep !ou on the
cutting edge of
creati#it! and inno#ation%
Thin$ In Terms of E2!ellen!e
1he ke! +uestions in rein#ention are, H/hat could !ou be absolutel! eLcellent
at
doing in toda!,s market'I /here could !ou be the best' /here could !ou
achie#e worldclass
+ualit!' /here could !ou be better than S;N of !our competitors' H
1he market onl! pa!s eLtraordinar! rewards for eLtraordinar! products and
ser#ices% /here and how could !ou do what !ou do in an eLtraordinar!
fashion'
<einvent Your Career
>inall!, think about rein#enting !ourself and !our career on a regular basis, as
well% If !ou were starting o#er again toda!, what would !ou do more of, less
of, start or
stop' /hat would !ou get into or get out of'
If !ou were starting !our career o#er again, what additional knowledge and
skills
would !ou want to ha#e' /hat can !ou do, starting toda!, to ac+uire those
ke! skills'
Imagine that !ou could do a #ariet! of 4obs% /hat would !ou really like to do
with !our
life'
7ince !ou were going to ha#e to rein#ent !ourself regularl! throughout !our
career, it is
#er! important that !ou think about how !ou would do it well in ad#ance of
when it
becomes necessar!%
<einvent Your rgani'ation:
:% If !ou were starting !our business o#er again toda!, what would !ou do
di=erentl!'
@% If !ou were starting !our career o#er again toda!, what would !ou get
into, or out of'
<% If !our business burned to the ground and !ou could onl! o=er one of
!our products or ser#ices, which one would it be'
C% /ho are !our most important customers, the ones who !ou would
immediatel! mo#e to take care of, if !ou were starting o#er'
D% /ho are !our most important people, both inside and outside of !our
business'
E% /hat are !our most important contacts and business relationships, the
ones !ou would want most to preser#e if !ou were starting o#er'
F% If mone! were no ob4ect, what steps would !ou take toda! to rein#ent
!our business'
Cha#ter Eight 1 Sele!t the <ight Peo#le
&ere lies a man who know how to enlist into his service people better than
himself!
A&ndrew Carnegie *epitaphB
1he people in !our compan! are the most important parts of !our business%
&ll work, all
performance, all results come from them, both as indi#iduals and when the!
work
together in teams of some kind% 1he manager,s output is the output of his or
her team,
and of the indi#idual team members%
In business, people come $rst% Robs, acti#ities and results are onl! achie#ed
after
the right people are in place% Rim Collins sa!s in his book, )ood to )reat, that
the ke! to
building a great business is, H$rst, get the right people on the bus, and
second, get the
wrong people o= the bus%I &n! other approach is bound to fail%
Two Key >ualities to -oo$ For
1he best people ha#e two +ualities% >irst, the! can be counted on to get the
4ob
done, to get it done well and to get it done in a timel! fashion% 7econd, the!
get along
well with others% 1he! are good team pla!ers%
Jou should appl! *ero"based thinking to each person who reports to !ou on a
regular basis% Continuall! ask, HKnowing what I now know, would I hire, assign
or
promote this person again, if I had to do it o#er'I
If the answer is HNo,I then !our neLt +uestion is, H2ow do I remo#e or replace
this
person, and how fast can I do it'I
/hat do !ou want and need those results to be'
Once !ou are clear about the results !ou desire, set speci$c measures of
performance on each 4ob, and each task% 2ow will !ou and the candidate
know whether
or not the 4ob has been done properl!' 3emember, H/hat gets measured,
gets done%I
&nd, HIf !ou can,t measure it, !ou can,t manage it%I
Sele!t the <ight Peo#le:
:% 3ank e#er! one in !our compan! on a scale from :*:;, with :; being the
highest, on their competence at their 4ob%
@% 3esol#e to build a team of highl! moti#ated, competent and positi#e
emplo!ees to
help !ou get the results !ou need%
<% 1hink through each new 4ob or hire carefull! in ad#ance% /rite out the
description
clearl!%
C% Inter#iew at least < candidates for a new position% Inter#iew the candidate
!ou
like at least < times, in three places, and ha#e him or her inter#iewed b! at
least <
other people%
D% Check references carefull!P seek the fatal "aw or weakness that would
make the
candidate unsuitable%
E% 2ire onl! positi#e, likable peopleP the! make the best team pla!ers%
F% 3esults are e#er!thingP continuall! emphasi)e and eLplain eLactl! what
results are
eLpected from each person%
Cha#ter 9ine 1 3ar$et 3ore E=e!tively
+ecause its purpose is to create a customer, the business enterprise has two
, and only
these two" basic functions- marketing and innovation! .arketing and
innovation produce
results/ all the rest are costs! APeter 0ruckerB
&ll business strateg! is ultimatel! marketing strateg!% /hene#er !ou are
worried about the
health or future of !our business, get back to thinking about marketing and
selling% >ocus
single*mindedl! on increasing sales and re#enues% Cutting eLpenses and
controlling costs
is an ongoing necessit!, but !ou can,t cost*cut !our wa! to business success%
Jou ha#e to
increase cash "ow, and this onl! comes from selling more of !our products or
ser#ices%
9o matter how !hallenging or !om#etitive the e!onomy a##ears% as
mu!h as
?@A of your mar$et is still unta##ed& 1here are almost alwa!s hidden
opportunities
around !ou% Jour abilit! to unco#er and take ad#antage of those opportunities
is the true
test of competence as an eLecuti#e or as a business%
)e!ide Who You Are and What You )o
0peciali*ation re+uires that !ou focus on speci$c products or ser#ices,
speci$c
markets or speci$c customer needs% Jou must $ght the temptation to tr! to
o=er too man!
products and ser#ices to too man! customers in too man! areas% Jou must
speciali)e,
both in !our own mind, and in the mind of !our customer%
/hat is it exactly that !our product or ser#ice is designed to achie#e, a#oid or
preser#e for !our customer' /hat are the core competencies or proprietar!
methods or
technologies that enable !ou to speciali)e in this area' /hat speci$c problem
or need can
!ou sol#e or satisf! for !our customer' &nd of all the di=erent results !ou can
get with
!our business, where do !ou, should !ou, could !ou speciali)e'
See Yourself As A (usiness
In !our personal life, !ou should ask the same +uestions of !ourself as well%
/hat
is !our personal area of speciali*ation' In what wa! is !our work superior to
!our
competitors' /hat is the ideal position or area of responsibilit! for !ou to
appl! !our
talents' /here should !ou be concentrating !our energies to get the #er!
best results and
greatest rewards possible'
.speciall!, !ou should continuall! ask !ourself, $hat is it that I do very, very
well?
/hat is !our personal area of eLcellence' /hat could it be' /hat should it
be'
-oo$ing Ahead
Looking into the future of !our business or industr!, what new competencies
do !ou need
to de#elop to lead !our $eld in the months and !ears ahead' /hat additional
knowledge
and skills do !ou need to ac+uire' /hat are those few tasks, which, if !ou did
them in an
eLcellent fashion, would ha#e the greatest positi#e impact on !our career' In
what areas
could be paid the #er! most for the application of !our special talents and
abilities' 1his
+uestion is 4ust as rele#ant for !ou as it is for !our compan!%
3ar$et 3ore E=e!tively:
:% 0ecide toda! to dominate !our $eld, to be the best at marketing and
inno#ation in !our product or ser#ice area% /hat is the $rst step !ou should
take'
@% 0etermine !our area of speciali)ation, b! product or ser#ice, market or
t!pe of customer% /hat should it be' /hat could it be'
<% 2ow do !ou di=erentiate !our product or ser#ice from those of !our
competitors' In what wa!s are !ou superior to an!one else' /hat could it be'
/hat
should it be'
C% /hat are !ou best market segments' /here are !our highest probabilit!
customers' /ho can bene$t the most from using what !ou sell'
D% 2ow can !ou organi)e !our business so that !ou concentrate !our
marketing and selling e=orts on those customers who can bu! and pa! faster
than an!
others'
E% /hat additional products, ser#ices, knowledge or capabilities will !ou
need to dominate !our markets in the months and !ears ahead'
F% /hat should !ou immediatel! start doing more of, less of, start or stop
to ad4ust to the current market'
Cha#ter Ten 1 Analy'e Your Com#etition
1oncentrate your strengths against your competitors relative weakness!
A5ruce
2endersonB
Know Your Enemy
2ere then is a +uestion for !ouK /ho is !our competition' .Lactl!' Jour
choice of
competitor determines almost e#er!thing !ou do in !our market, 4ust as the
choice of an
ad#ersar! determines e#er!thing a general does in the process of conducting
militar!
operations%
)etermine Their (uying 3otives
Once !ou ha#e determined wh! it is that people bu! from you, !ou must then
ask
and answer, H/h! do people bu! from m! competitors'I /hat #alue or
bene$ts are !our
potential customers con#inced that the! recei#e when bu!ing from !our
competitor rather
than from !ou'
/hat are !our competitor,s ke! strengths' /hat are his areas of
speciali)ation,
di=erentiation, segmentation and concentration' /hat does !our competitor
ha#e that
!ou don,t ha#e' /hat does he o=er that !ou don,t o=er' /hat is he doing
more of or
better than !ou' /hat is his uni+ue selling proposition'
=set Their Advantages
&s !ou stud! !our competitors, look for wa!s to o=set or neutrali)e the
ad#antages
their customers percei#e them to ha#e% /hat are !our competitor,s
weaknesses' 2ow can
!ou eLploit these weaknesses' /hat do !ou do better than the! do' In what
wa!s are
!our products or ser#ices superior to their o=erings' In what areas do !ou
ha#e a distinct
ad#antage o#er !our competitors' /hat can !ou do to o=set !our
competitor,s strengths
and maLimi)e !our ad#antages' 2ow can !ou better position !ourself against
!our
competitors in a tough market'
1he more time !ou take to stud! and understand wh! and how !our
competitors
are successful in selling to !our customers, the more likel! it is that !ou will
$nd an
opportunit! to take awa! their market share% &s 7un 1)u sa!s in he 2rt of
$ar, HIf !ou
know both !ourself and !our enem!, !ou will pre#ail in a hundred battles%I
Analy'e Your Com#etition:
:% /ho is !our competition for what !ou sell, with the eLact customers !ou
are
tr!ing to attract'
@% /hat would happen if !ou changed !our o=erings in such a wa! that !ou
targeted
a di=erent group of customers, one that would be easier to sell to'
<% /h! do !our potential customers bu! from !our competitors' /hat
ad#antages do
the! percei#e'
C% /hat is !our competitor,s uni+ue selling proposition' /hat special feature
or
bene$t does his product or ser#ice ha#e that !ours does not'
D% In what wa!s are !ou superior to !our competitors' /hat can !ou o=er
that the!
cannot' 2ow can !ou emphasi)e this ad#antage in !our sales and marketing
e=orts'
E% /here is !our competitor #ulnerable' 2ow could !ou eLploit this to !our
ad#antage'
F% 2ow could !ou alter !our marketing strateg! in such a wa! that !ou could
achie#e
dominance in a particular area, with a speci$c customer or market segment'
Cha#ter Eleven 1 )o It (etter% Faster% Chea#er
he man who comes up with a means for doing or producing almost
anything better,
faster or more economically has his future and his fortune at his %ngertips!
AR% Paul Gett!B
1he most important single determinant of !our success is !our area of
competitive
advantage% It is more important than all other factors% It determines the rise
or fall of !our
business, !our le#el of pro$tabilit!, !our position in the marketplace and
e#er!thing else
!ou accomplish%
Jour competiti#e ad#antage must be cr!stal clear to !ou and to e#er!one in
!our
compan!, as well as to !our prospecti#e customers, Lack of clear competiti#e
ad#antage
leads +uickl! to diminished sales, loss of market share, lower pro$tabilit!,
price cutting,
and ultimatel! to business failure%
Your 5igh Con!e#t
Jour business was started because !ou or !our compan! had an idea for a
product or ser#ice that was di=erent or better from other products and
ser#ices% It o=ered
to satisf! the same need or sol#e the same problem better, faster or cheaper
than an!one
or an!thing else then a#ailable%
Jour abilit! to di=erentiate !our product in the minds and hearts of !our
customers is the ke! to winning them in the $rst place, and then keeping
them after the
initial sale% 1o bu! from !ou, a customer must be con#inced that, all things
considered,
!our o=ering is di=erent and better than an!thing else that is currentl!
a#ailable at the
same price% Rack /elch was famous for sa!ing, HIf !ou don,t ha#e competiti#e
ad#antage,
don,t competeI
Three Areas of )i=erentiation
1o succeed in a tough market, what !ou sell must be superior to !our
competitor,s o=erings in at least three wa!s% It must "e "etter% faster%
!hea#er% and easier
to use in some way that ma$es it more attra!tive than rival #rodu!ts
or servi!es& It must be
sold more professionall! or ser#iced with greater sensiti#it!, speed or
eOcienc!% It must
be better in at least three areas%
One of !our ke! 4obs in strategic thinking is to identif! the three areas where
!ou are
better and then to emphasi)e those areas of superiorit! in all !our marketing
and sales
2ow could !ou achie#e operational eLcellence in !our business, or some part
of !our
business, in such a wa! that !ou could be the low*cost pro#ider in !our
market' 2ow
could !ou dramaticall! reduce !our costs of doing business and use this low
cost
ad#antage to increase !our sales and pro$tabilit!'
-ead the Field
1he second area where !ou could achie#e competiti#e ad#antage is in the
use of
innovative te!hnology leading to the production of high +ualit! products
and ser#ices%
Companies like -ercedes and 3oleL fall into this categor!, as does 7on! and
LeLus%
Customers are willing to pa! a premium for a brand name that represents
high +ualit! and
cutting*edge technolog!% /here are there opportunities for !ou to distinguish
!our
products or ser#ices b! using !our imagination to become the +ualit! leader
in !our $eld'
Close to the Customer
1he third area where !ou could de#elop competiti#e ad#antage is in being
Hclose to the
customer%I 1his re+uires that !ou in#est the time to de#elop high +ualit!
relationships
based on Hcustomer intimac!%I Customers will pa! more and remain lo!al
longer to
companies that seem to know and understand them better than others%
Pro#iders of
speciali)ed ser#ices, such as consulting $rms, law $rms and accounting $rms
fall into this
categor!%
In what wa!s could !ou de#elop higher le#els of trust and credibilit! with !our
customers' /hat could !ou do to demonstrate to !our customers that !ou
reall! care
about them and their interests' 1his strateg! can o=er a breakthrough
opportunit!,
especiall! in the sale of eLpensi#e products and ser#ices where resales and
referrals are
possible%
Pi!$ Your Targets
1o lead !our $eld and achie#e higher le#els of pro$tabilit!, !ou ha#e to be
outstanding in one of these three areas and #er! good in the other two% One
of the most
important decisions !ou make is to choose !our area of competiti#e
ad#antage, and then
to dedicate !our compan! to achie#ing it%
Strive For Su#eriority
Jour area of eLcellence is the ke! to !our success in a competiti#e
marketplace%
1his is where !our product or ser#ice stands out in comparison to !our
competitors% It is a
#alue or bene$t that !ou o=er that no one else o=ers% /ith regard to !our
products or
ser#ices, what is it' /hat could it be' /hat should it be'
Jour area of superiorit! is de$ned as an area of performance where !our
product
or ser#ice is superior to that of !our competitors% 1his performance di=erence
is
signi$cant enough that !our customer will bu! it, and e#en pa! !ou more for
it% In what
wa! does !our product perform better, in terms of getting results that !our
customer cares
about, than !our competitors' 2ow could !ou impro#e the performance of
!our products
or ser#ices in some meaningful wa!'
>inall!, !our uni3ue selling proposition is something that !ou and onl! !ou
o=er
to !our customers, and is something that the! reall! care about% No one else
does as well
as !ou do in this area% No one else achie#es the same bene$t or result% /hat
is !our
uni+ue selling proposition' /hat could it be'
-oo$ Into Yourself
On a personal le#el, !ou must continuall! ask these +uestions of !ourself%
/hat is !our
personal area of eLcellence' /here are !ou superior to !our competitors'
/hat is !our
uni+ue selling proposition' In what wa!s do !ou do !our 4ob better or faster
than others'
/hat is it that !ou and only you do in an outstanding fashion for !our
compan!' /hat
could it be' /hat should it be'
Perhaps the most important area of superiorit! !ou can de#elop is !our abilit!
to
do !our 4ob +uickl! and well, in an eLcellent fashion, consistentl! and
dependabl! e#er!
time% 1his is the ke! to success as an indi#idual in a competiti#e marketplace%
)o It (etter% Faster% Chea#er:
:% In what wa!s are !our most important products or ser#ices superior to
those of
!our competitors'
@% /hat is !our recogni)ed Harea of eLcellence'I If !ou were to conduct a
sur#e!,
what would people sa! that !our compan! does especiall! well'
<% In what wa!s are !our products or ser#ices faster to ac+uire, use and en4o!
than
!our competitor,s'
C% /hat is !our uni+ue selling proposition' /hat is it that !our products or
ser#ices
o=er that no other compan! can match'
D% In what wa!s are !our products or ser#ices cheaper to bu! and use, or
achie#e
superior $nancial results for !our customers for the same cost'
E% If !ou were known for being outstanding in an! one area of !our product or
ser#ice o=erings, what one distinction would ha#e the greatest positi#e
impact on !our
sale and pro$tabilit!'
F% List the three areas where !our products are, or can be, superior to an! of
!our
competitors% /hat is !our plan to achie#e this area of market superiorit!'
/hat should
!ou do $rst'
What )o You SellB
1he $rst part of the marketing miL is !our 4roduct or ser#ice% &lwa!s de$ne
!our
product or ser#ice in terms of what it HdoesI for !our customers, #ersus what
it His%I 2ere,s
the +uestion, HIs !our product or ser#ice, as !ou are o=ering it toda!, ideall!
suited for
!our current market and customers'I
5ow 3u!h )o You ChargeB
1he second part of the marketing miL is !our 4rice% Is !our price the right
price for what
!ou are selling' 7hould !ou change !our price in some wa!' 7hould !ou
increase it,
decrease it, combine !our price with other items, or add items to !our price'
7hould !ou
change !our terms or o=er something di=erent for the same price'
)ou"le Your Pri!eB
Is there an! place in !our business that
!ou could increase !our prices and still hold onto !our market'
5ow )o You Sell ItB
2ow are !ou currentl! promoting and selling !our product or ser#ice' /hat,s
working'
/hat,s not working' 7hould !ou change !our methods of ad#ertising,
marketing, selling
or ac+uiring customers in an! wa!'
Sell 3ore Stu=
.speciall!, should !ou upgrade and impro#e !our direct selling methods,
people,
presentation, and capabilities'
Is Your Phone <ingingB
.#er after, when I think about the e=ecti#eness of ad#ertising, I alwa!s ask,
HIs
!our phone ringing'I
Where )o You SellB
1he fourth element of the marketing miL is the 4lace% 1his is the speci$c
location where
the sale of !our product takes place% /here eLactl! do !ou sell !our product
toda!' 0o
!ou sell in homes, oOces or in !our own retail establishment' 0o !ou sell in a
particular
cit!, state or nationwide' 0o !ou sell in stores or b! direct selling or b! direct
mail' -ost
importantl!, should !ou change the place at which !ou o=er !our products'
& change in the location where !ou o=er !our product or
ser#ice could change the direction of !our business% /hat could it be'
E2amine Your Assum#tions
/hene#er !ou ha#e diOculties selling a suOcient +uantit! of !our product or
ser#ice, !ou should eLamine all of !our assumptions in the areas of product,
price,
promotion and place% Jou should be willing to consider the possibilit! that
!our method
is completel! wrong in one or more of these areas%
It often happens that a single change in one of the HP,sI in the marketing miL
can
change the entire nature of !our business, boost !our results, increase !our
pro$tabilit!
and mo#e !ou toward market leadership% Keep an open mind%
The Answers Are Changing
/hat is the correct marketing miL for !ou to sell the #er! most at the highest
cost, and
earn the greatest pro$t' /hat assumptions are !ou going on that
ma! no longer be true'
Change Your 3ar$eting 3i2:
C& 5e prepared to challenge e#er! aspect of !our marketing, especiall! if it is
not
working as well as before% /hat areas cause !ou the greatest frustration and
dissatisfaction'
D& /hat eLactl! do !ou sell, de$ned as what it HdoesI for !our customers,
#ersus
what it His'I
6& /hat prices do !ou charge' 2ow could !ou change the wa! !ou charge to
make
bu!ing from !ou more attracti#e'
E& 2ow do !ou promote !our product' Could there be better wa!s of
ad#ertising
!our products or ser#ices that would gi#e !ou better results'
7& 2ow do !ou sell !our product or ser#ice' Is e#er! person who deals with
!our
customers full! trained in e#er! ke! result area of selling'
:& /here do !ou sell !our product or ser#ice' 7hould !ou be eLploring other
locations or methods of sale'
;& 7hould !ou change more than one of the elements of the marketing miL at
the
same time' Challenging market conditions often call for bold departures from
the methods
of the past, especiall! if the! are no longer working%
What Words )o You wnB
0eliberatel! or accidentall!, each product or ser#ice de#elops a reputation
that
positions it against its competitors% /hat is !ours'
Create Your wn Cheat Sheet
2ere is the +uestion% /hat words do you own' /hat words should !ou own in
the
hearts and minds of !our prospecti#e customers' /hat words could !ou own
if !ou were
to reorgani)e and redirect !our marketing e=orts'
&s an eLercise, imagine one of !our prospects meeting with one of !our
customers% Imagine that !our customer called !ou and asked !ou what !ou
would like
him to sa! to !our prospect to con#ince !our prospect to bu! from !ou'
If !ou could put together a Hcheat sheetI with the eLact words or phrases
that !ou
would like !our customer to lea#e in the mind of !our prospect, what words
would !ou
choose' /ould !ou choose words like excellent 3uality, high integrity, friendly
service,
nice people, 3uick responses to problems, easy to work with, great prices?
2ow do !ou want
to be described b! !our customers and potential customers' Of all the words
and phrases
that customers could use to describe !our products and ser#ices, and !our
compan!,
which would be the most helpful for !ou and !our business'
What Is Your (randB
2ow are !ou described and thought about b! others when !ou are not there'
/hat is
!our personal brand? /hat is !our reputation' 2ow do other people think and
talk about
!ou, both as a person and as a contributor to the organi)ation'
Position Your Com#any For Su!!ess
:% /hat is !our compan!,s reputation in !our market' 2ow do customers and
competitors think and talk about !ou'
@% /hat words do people use when describing !our products or ser#ices to
others'
<% If !ou could HownI certain words that appl! to !our compan!, !our
products or
ser#ices, which words would !ou choose'
C% /hat words, if the! were automaticall! associated with !our compan!,
would
ha#e the greatest positi#e e=ect on !our sales and pro$tabilit!'
D% /hat changes would !ou ha#e to make to assure that e#er! customer
contact
reinforced the message that !ou wanted to send to !our customers about
doing business
with !ou'
E% /hat are the most important promises that !ou make to !our prospects to
get
them to bu! from !ou for the $rst time' 0o !ou keep these promises after the
sale'
F% /hat are the most positi#e things that !our customers sa! about dealing
with !our
compan!' 2ow could create a s!stem to assure that more customers sa!
these things'
.Lamine !our complete range of products and ser#ices, especiall! the newer
ones,
and ask, H/hich of these has the potential to be a big seller'I /hat would
!ou ha#e to do
or in#est in o help make it a ma4or source of sales and re#enues'
Keep asking !ourself, HIf I had not alread! committed time and mone! to this
product, knowing what I now know, would I start in#esting in it again toda!'I
&ppl! the 75( concept to !ourself and !our career% Jou ha#e se#eral areas of
talent and abilit!, core competencies, eLperience, knowledge and education%
/hat are
!our cash cows, the skills that are central to !our #alue to the organi)ation'
/hat are !our Hstars,I the emerging areas of acti#it!, or new skills and
knowledge
that can make !ou eLtremel! #aluable in the future'
/hat are !our potential areas of great success' /hat are the pro4ects,
responsibilities and areas of opportunit!, which, if !ou eLploit them full!, can
enable !ou
to mo#e ahead more rapidl! in !our career'
>inall!, what are the HdogI areas of !our work life' 1hese are the tasks or
skills
that !ou ma! ha#e mastered in the past, but which distract !ou from !our
future% 1hese
are the 4obs and acti#ities that take up a lot of time, but which are nowhere
near as
#aluable as other things !ou could be doing% /hat are the!'
)evelo# Strategi! (usiness .nits
:% 5egin toda! to #iew each product or ser#ice as a separate business,
responsible
for generating a certain amount of pro$t e#er! month%
@% Group !our di=erent products or ser#ices b! similar characteristics, similar
customers, or similar markets%
<% /hat are the cash cows of !our business' /hat are the core products or
ser#ices
that are essential to !our o#erall pro$tabilit!'
C% /hat can !ou do toda! to safeguard and nurture !our cash cows to assure
that
the! continue contributing sales and cash "ow far into the future'
D% /hat are the HstarsI of !our business' /hat are the products that are
selling well,
increasing in market share, and generating high pro$ts'
E% /hat could !ou do to increase the sales and pro$tabilit! of !our stars'
F% /hat are the H+uestion marksI of !our business' /hich of !our current
products
or ser#ices should !ou discontinue, knowing what !ou now know'
What Is To (e SoldB
1he $rst +uestion is, +What is to "e soldB, 1o answer this correctl!, !ou
ha#e to de$ne
!our product or ser#ice in terms of what it does, and how it bene$ts !our
customer% 2ow
does it impro#e his or her life or work' Of all the bene$ts that a customer
en4o!s from
purchasing !our product or ser#ice, what is the primar! bene$t, the one thing
that !ou
o=er that makes !ou superior to an! other competitor in the marketplace' 0o
!ou know
the answer to this'
Who Is 0oing To Sell ItB
1he second +uestion is +(y whomB, /ho is actuall! going to sell the
product or ser#ice
and get the check from the customer' 2ow are !ou going to recruit, train,
manage, $eld
and support the sales person' 2ow is this salesperson going to unco#er the
necessar!
leads and get face to face with the prospecti#e customer'
Who Is Your CustomerB
1he neLt part of the +uestion is HTo whomB,
5ow 3u!h Are You 0oing To ChargeB
Is there an! price !ou would raise, lower or modif! in some
wa!'
Colle!ting Payment
1he neLt +uestion is How is it going to be paid for? 0o !ou re+uire
pa!ment
in full, in ad#ance' 0o !ou re+uire a deposit when the sale is made and with
the balance
to be paid at a later time on certain terms' 0o !ou o=er credit or $nancing'
.speciall!,
what do !our competitors do'
Often a change in the wa! !ou charge, or in !our pricing structure, can
dramaticall! increase !our sales% /hat could !ou do di=erentl! in toda!,s
market that
would make it easier or more attracti#e to bu! !our product or ser#ice'
)elivering The 0oods
1he $nal part of the +uestion is How is going to be delivered
satisfactorily?
/hat is the eLact process of getting the product or ser#ice to !our customer
in such a
wa!, and at such a le#el of +ualit!, that the customer both bu!s from !ou
again and
recommends !ou to others'
Sell 3ore E=e!tively:
:% /hat is the eLact sales process necessar! to sell !our product or ser#ice,
from the
$rst customer contact through to the close of the sale' 0o !ou know' 2ow
could it be
impro#ed'
@% /hat must !our prospecti#e customer be con#inced of before he chooses
!our
product o#er that of !our competitor'
<% If mone! were no ob4ect, what special results or bene$ts do !ou o=er in
!our
sales e=orts that make !our product more desirable than an! other a#ailable'
C% /hat is !our process for recruiting salespeople' /hat media do !ou use'
/hat
le#els of education and eLperience do !ou re+uire'
D% /hat kind of a compensation s!stem do !ou ha#e for salespeople' /hat is
it
based on' 2ow could it be impro#ed so that it moti#ates better sales
performance'
E% 2ow much of !our business comes from referrals from happ! customers'
2ow
could !ou increase the number of referrals !ou get as a percentage of !our
business'
F% /h! aren,t !our sales twice as high alread!' /hat sales e=orts could !ou
make to
tap into that M;N of the market that has ne#er heard of !ou'
Follow the Formula
H/h! am I not at that goal alread!'I /hat is holding !ou
back' /hat is the constraint, chokepoint or bottleneck that sets the speed on
how fast !ou
achie#e !our speci$c goals of sales, cash "ow or pro$tabilit! in !our
business'
Let us return to m! earlier +uestion, H/ould !ou like to double !our sales and
double !our income'I If !our answer is H!esI, then wh! ha#en,t !ou done it
alread!' /h!
aren,t !our sales twice as high' /h! aren,t !our pro$ts twice as high' /hat is
holding !ou
back' /hat is constraining !ou' /hat is the limiting factor'
Identify Your Personal Constraints
1hink about !our personal life and goals as will% &sk !ourself, H/hat are m!
most
important goals' /h! am I not there alread!' /hat is it within me that is
holding me
back'I
Is it the lack of a particular +ualit!, attribute or skill that sets the speed at
which I
achie#e m! goals' Is it a particular attitude or belief that is holding me back'
&nd most
important, what could !ou do immediatel! to alle#iate !our ke! constraints,
starting toda!'
Eliminate the <oad"lo!$s:
:% 7et clear, measurable goals for sales and pro$tabilit!% Now ask, H/hat
determines
the speed at which I achie#e these goals'I
@% (se sentence completion eLercises% 7a!, H/e could double our sales if it
4ust
wasn,t for%%I and $ll in the blank%
<% Identif! the ma4or block to !our achie#ing !our most important goal' 2ow
could
!ou remo#e it'
C% Look within !our compan! for the limiting factors that hold !ou back% /hat
are
the chokepoints in !our business'
D% &ssess each person in each ke! position% &re the! competent and capable
of
doing what needs to be done for !ou to be successful'
E% Once !ou ha#e identi$ed !our ke! constraint to business success, ask,
H$hat else
is holding us back'I Keep asking, H/hat else'I until !ou get to the real
problem%
F% In !our own career and personal life, what sets the speed at which !ou
achie#e
!our goals' Look within !ourself for the answers%
3a$e Faster% (etter )e!isions
/hene#er the! bring !ou a problem
or a +uestion, alwa!s ask, H/hat do you think we should do'I
<eengineer Your Com#any:
:% Practice simpli$cation as a wa! of life% In what areas of work has !our life
become
too complicated, and what can !ou do to get it back under control'
@% Practice )ero*based thinking with e#er! step and e#er! acti#it!% If !ou were
not
now doing it this wa!, would !ou start doing it this wa! again toda!'
<% 1ake a single compleL process or 4ob and make a list of e#er! step from
beginning
to end% 2ow could !ou reduce the number of steps b! <;N the $rst time
through'
C% /hat tasks or acti#ities could !ou delegate to someone who can do them
F;N as
well as !ou'
D% /hat parts of !our business could !ou outsource to companies or
indi#iduals who
speciali)e in that area'
E% /hat parts of !our work could !ou eliminate altogether with little or no
impact on
!our bottom line'
F% /hat parts of !our personal life do !ou need to streamline and simplif!'
/hen are
!ou going to do it'
Pum# .# Your Pro/ts:
:% 0o a complete pro$t anal!sis on e#er! product and ser#ice !ou o=er% 3ank
them
from highest to lowest%
@% Identif! the @;N of !our products that account for M;N of !our sales%
/hich are
the!'
<% Identif! the @;N of !our products and ser#ices that account for M;N of
!our
pro$ts% &re the! the same as !our answer to T@'
C% &fter deducting all direct and indirect costs, which are !our most pro$table
products or ser#ices based on cost and return on in#estment'
D% 2ow much is !our time worth on an hourl! basis' 5uild this cost into
e#er!thing
!ou do to get an accurate measure of costs and pro$tabilit!%
E% &ttribute a percentage of all general and administrati#e costs to each
product or
ser#ice !ou sell% 1his eLercise often turns pro$ts into losses%
F% If !our compan! was facing serious $nancial shortages, which products or
ser#ices
would !ou focus !our energies on, and which would !ou discontinue' 1hink
about doing
it now%
It Starts From The To#
.ncourage each person to $nd wa!s to do their 4obs better, faster, and easier%
&llow them the freedom to eLperiment with impro#ements, with no fear of
criticism if
the! don,t work% 7ometimes the greatest impro#ements occur as the result of
a series of
small eLperiments that were not successful%
Jou should stand back regularl! and eLamine e#er! product, ser#ice and
process%
2ow could !ou impro#e it in some wa!' 2ow could !ou make it better, faster
or cheaper'
2ow could !ou get the same or better results faster, or at a lower cost' Ne#er
be satis$ed
or content with eListing +ualit! le#els% &lwa!s look for wa!s to impro#e upon
them%
5rainstorm with !our team regularl! to generate ideas to cut costs, impro#e
+ualit!,
increase sales and boost pro$ts% .ncourage e#er!one to think, all da! long,
about how
the! can do their 4obs better% -ake this commitment to continuous
impro#ement a part of
!our corporate culture%
Commit to E2!ellen!e
If e#er!one in !our marketplace referred to !ou and !our o=erings as the
best in the business, what kind of a di=erence would that make in !our sales
and
pro$tabilit!'
/ith that as !our goal, what would !ou ha#e to do, starting toda!, to assure
that
e#er!one refers to !ou as Hthe bestI sometime in the future' /hat could !ou
do, starting
toda!, to begin this process' /hat is the $rst step !ou should take'
>uality and Pro/ta"ility
H/hich of these companies do !ou feel is the best in this particular industr!'I
2ere,s the +uestionK If such a sur#e! were done among potential customers
for what !ou
sell, where do !ou feel !our compan! would rank in such a comparison'
/ould !ou be
ranked as Hthe best,I or somewhere lower' /hat could !ou do to mo#e
higher in the
rankings' /hat one step could !ou take immediatel!'
5ow )o Customers )e/ne >ualityB
What )o Customers WantB
Commit to Continuous Im#rovement:
:% 2ow do !our customers de$ne +ualit!' /hat is most important to them in
choosing !our product or ser#ice'
@% 2ow do !ou rank against !our competitors on a scale from one to ten' 2ow
could
!ou impro#e !our ranking immediatel!'
<% 7et up a reward s!stem in !our compan! for suggestions and ideas to
impro#e
+ualit! and achie#e greater customer satisfaction'
C% 0o !ou ha#e +ualit! and performance standards for people, products and
acti#ities
in !our compan!' 0oes e#er!one know what the! are'
D% /hat compan! do !ou think is the best in !our business, the most
respected and
pro$table' 2ow could !ou benchmark !ourself against them'
E% /hat one step could !ou take immediatel! to impro#e customer
satisfaction with
!our compan!'
F% /hat could !ou do personall! to upgrade and impro#e the +ualit! of !our
performance in the most important things !ou do in !our 4ob'
)e/ne Your Core (usiness
/hat is !our core business' If e#er!thing else was stripped awa!, what would
be left at
!our core'
Identif! the @;N of opportunities a#ailable to !ou toda! that can be
responsible for
M;N of !our sales and re#enues in the !ears ahead% 1hese will almost alwa!s
be
eLtensions of !our current business, !our core competencies, and !our areas
of
eLcellence% Jour choice of the opportunities a#ailable to !ou largel!
determines the
future of !our business% /hat are the!'
Fo!us n 8alue
/hat are the @;N of !our work acti#ities that account for M;N of !our
personal
#alue and !our contribution to !our compan!' If !ou 4ust doubled the amount
of time !ou
spend on the @;N of !our high #alue tasks, and discontinued the M;N of low
#alue/no
#alue tasks that !ou do, !ou could become most of the most producti#e
people in !our
compan!% 1hese are !our core tasks%
/hat are the @;N of problems, aggra#ations, and irritations that account for
M;N of
!our headaches in !our work' /ho are the most diOcult people, customers
or situations
that !ou ha#e to deal with each da!' /hat can !ou do toda! to minimi)e or
eliminate
them'
5ased on this M;/@; anal!sis, what steps can !ou take immediatel! to
impro#e,
increase, and strengthen !our core products, ser#ices, customers and
acti#ities' /hat
should !ou do $rst'
Where )o You E2!elB
In what areas of !our products and ser#ices are !ou, or could !ou be better
than
SDN of !our competition'
Advan!e Planning
1his 1itadel is !our core business% /hat is yours' /hate#er it is, practice
H7cenario
PlanningI on a regular basis% &sk !ourself, H/hat is the worst thing that could
possibl!
happen in m! market toda!'I
/hate#er !our answer is to that +uestion, begin making pro#isions toda! to
assure
that !ou will be able to sur#i#e, should it occur%
Your Personal Citadel Strategy
&s an indi#idual, !ou must be clear about !our personal core competencies,
as
well% 2ow could !ou impro#e in each one of them' /hat core competencies
will !ou
need to lead !our $eld in the !ears ahead' /hat is !our plan to ac+uire the
core
competencies of tomorrow'
Con!entrate n the Core:
:% /hat is !our core business' /hat products and ser#ices are most
responsible for
!our success toda!'
@% /hat are !our core competencies' /hat is it that !our compan! does
eLtremel!
well'
<% /hat are the worst possible things that could happen to !our business in
the neLt
!ear' /hat are !our plans to deal with them, should the! occur'
C% /hat are !our non*core products, ser#ices or acti#ities' /hat would
happen if !ou
discontinued them entirel!'
D% /ho are !our core customers, and what are !ou doing to assure that the!
ne#er
lea#e !ou'
E% /ho are !our core people, the ones who are most important for the
sur#i#al and
growth of !our business' /hat is !our strateg! to keep them'
F% /hat are !our core functions' /hat are the things !ou do that are central
to !our
4ob' /hat acti#ities are peripheral'
Four Key >uestions
/hen considering bu!ing a product or ser#ice, customers ha#e four +uestions
that
must be answered before going aheadK
:% /hat does it cost'
@% /hat do I get for the mone!'
<% 2ow fast do I get the bene$ts !ou promise'
C% 2ow sure can I be that I will get those bene$ts'
/hiche#er compan! or salesperson answers these +uestions most
con#incingl!
wins the sale%
)eliver n Your Promises
H/hat results or bene$ts do m! customers eLpect of m!
product or ser#ice'I and H2ow consistentl! do m! customers get those
results and bene$ts
when the! bu! m! products or ser#ices'I 1his is the true de$nition of
H+ualit!%I
Uualit! can be de$ned as, Hthe percentage of times that !our product or
ser#ice
does what !ou sa! it will do, and continues to do it%I
& +ualit! rating of :;;N, or perfect +ualit!, means that what !ou sell always
deli#ers on !our promises% & +ualit! rating of S;N means that !our product
gets the
desired or promised results nine out of ten times%
-ittle Things 3ean A -ot
>ederal .Lpress has determined that if its +ualit! rating was SS%S;N, the!
would
make mistakes in the deli#er! of CC,;;; en#elopes a da!% &t SS%S;N +ualit!,
>ederal
.Lpress would collapse under its own weight of confusion% 1hat is how
important +ualit!
is in a business%
Jour personal success is also determined b! how consistentl! and dependabl!
!ou
perform and deli#er on !our responsibilities and promises% Jou should
continuall! ask
!ourself, H/hat results are eLpected of me'I
Jour le#el of e=ecti#eness is alwa!s de$ned b! others, b! what the! need
from
!ou% Leaders are alwa!s asking, H/hat does this situation need of me'I Once
the! are
clear, the! concentrate their energies in those areas%
&sk !ourself, HOf all the results I can accomplish, what are the most #aluable
and
important in terms of m! rewards and m! future'I
Im#roving Your A"ility to 0et <esults
2ere are se#en of the best +uestions !ou can ask and answer to impro#e !our
abilit! to get resultsK
:% H/h! am I on the pa!roll'I /hat eLactl! ha#e !ou been hired to
accomplish'
-ake sure that what !ou are doing e#er! da! is the answer to this +uestion%
@% H/hat are m! highest #alue tasks and acti#ities'I Of all the things that !ou
could be doing during the da!, what are the acti#ities that !ou engage in that
contribute
the greatest #alue to !ourself and !our compan!'
<% H/hat are m! ke! result areas'I /hat are the core competencies and ke!
tasks
that !ou must absolutel!, positi#el! do in an eLcellent fashion to produce the
most
important and #alued results eLpected of !ou' 3esol#e toda! to become a
Hdo*it*to!ourself*
pro4ect%I >or the rest of !our career, dedicate !ourself to continuall! learning
and
impro#ing in those areas where top performance is most #ital to !our
success% Getting
better at !our ke! tasks is one of the best time sa#ing techni+ues of all%
C% H/hat can I and onl! I do that, if done well, will make a real di=erence'I
1here is alwa!s something that onl! !ou can do that can make a signi$cant
di=erence to
!our life and !our work% If !ou don,t do it, it won,t get done% No one else will
do it for
!ou% 5ut if !ou do it, and !ou do it well, it can make a signi$cant di=erence%
/hat is it'
D% H/hat one skill, if I de#eloped and did it in an excellent fashion, would
ha#e
the greatest positi#e impact on m! career'I 1here is alwa!s one skill that if
!ou de#eloped
it and did it well, would ha#e a greater and more positi#e impact on !our
career than an!
other single skill% Jour 4ob is to identif! that skill and then put !our whole
heart into
becoming absolutel! eLcellent in that area, whate#er it is%
E% H/hat one result, if I achie#ed it consistentl! for m! customers, would
most
satisf! those customers and bring me the greatest number of additional
customers'I /hat
must !our customer be absolutel! con#inced that he or she will recei#e from
!ou in order
to bu! !our product or ser#ice and to recommend it to his or her friends' 2ow
could !ou
impro#e !our +ualit! and ser#ice in that area'
F% 1he $nal +uestion for personal success, number se#en, is thisK H/hat is the
most #aluable use of m! time right now'I (se this +uestion as !our guiding
star
throughout the da!% Keep asking, What is the most valuable use of my
time, right
now?
All )ay -ong
If !ou could onl! perform one task all da! long, what one thing could !ou do
that
would contribute more #alue to !our life and work than an! other single task
or acti#it!'
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Whatever your answer% #ut mastery of that tas$ at the to# of your
list of #riorities&
)edi!ate yourself to getting "etter and "etter doing the one thing
that !an ma$e more of a
di=eren!e than anything else& This is the $ey to getting su#er"
results at every stage of
your life and !areer&
n!e more% here then are the DC $ey ideas in the Tur"ostrategy
#ro!ess:
:% Start Where You AreK 0o a complete and honest anal!sis of !our
business as it is
toda!, including the current status of !our sales, re#enues, pro$tabilit! and
the market
situation around !ou%
D& )raw A -ine .nder the Past: &ppl! )ero based thinking to e#er! part of
!our
business% If !ou were not doing it toda!, knowing what you now know, would
!ou get
into it again toda!'
6& Condu!t A (asi! (usiness Analysis: .Lamine !our products, ser#ices,
processes,
and acti#ities as if !ou were looking at them for the $rst time% 5e prepared to
ask !ourself
the Hbrutal +uestionsI about each one of them%
E& )e!ide E2a!tly What You Want: 7et clear, written, measurable goals
and
ob4ecti#es for !ourself in each part of !our business%
7& )esign Your Ideal Future: Pro4ect forward <*D !ears and imagine that
!our
business was ideal in e#er! respect% /hat would it look like' /hat could !ou
do, starting
toda!, to make that future #ision into a current realit!'
:& Create A 3ission Statement: 0ecide eLactl! what it is !ou want to
accomplish
for others with !our business% -ake it measurable% -ake it eLciting% 7hare it
with
e#er!one%
;& <einvent Your rgani'ation: Imagine starting !our business or career
o#er again
toda!, with !our present knowledge and eLperience% /hat would !ou do
di=erentl!'
?& Sele!t the <ight Peo#le: >ull! SDN of !our success in business will be
determined b! the people !ou choose to work with and for% 1ake the time to
make good
personnel decisions%
I& 3ar$et 3ore E=e!tively: 1hink through e#er! part of !our marketing
strateg! b!
appl!ing the four principles of speciali)ation, di=erentiation, segmentation
and
concentration to e#er! product and ser#ice%
C@& Analy'e Your Com#etition: 0ecide eLactl! who !ou are competing
against, and
wh! it is that !our prospecti#e customers prefer to bu! from them% 2ow could
!ou o=set
this percei#ed ad#antage'
CC& )o It (etter% Chea#er% FasterK Continuall! seek wa!s to ser#e and
satisf! !our
customer in a superior fashion to an! one else in !our market% Ne#er stop
raising the bar
on !ourself%
CD& Change Your 3ar$eting 3i2: Imagine being !our own management
consultant
and asking !ourself hard +uestions about the appropriateness of !our
product, price,
place and promotion in toda!,s market%
C6& Position Your Com#any For Su!!essK 0etermine how !ou want to be
thought
about and talked about b! !our customers and prospecti#e customers% /hat
are the #er!
best words the! could use to describe !ou'
CE& )evelo# Strategi! (usiness .nits: 0i#ide !our products and ser#ices
into one
of four categoriesK cash cows, stars, 3uestion marks and dogs% -ake one
person
responsible for sales and pro$tabilit! for each product or group of products%
C7& Sell 3ore E=e!tively: >ocus single*mindedl! on upgrading the +ualit!
of !our
sales e=ort% 2ire more selecti#el!, train more thoroughl!, and manage more
professionall!% 7ales are the lifeblood of the business%
C:& Eliminate the (ottlene!$s: Identif! the factors that determine how
fast !ou
achie#e !our goals of sales and pro$tabilit!% Concentrate on alle#iating these
bottlenecks
in e#er! part of !our business%
C;& <eengineer Your Com#any: Continuall! seek wa!s to streamline and
simplif!
the process of producing and selling !our products and ser#ices% Learn to
delegate,
outsource, downsi)e and eliminate the compleLit! of e#er!thing !ou do%
C?& Pum# .# Your Pro/ts: .#aluate e#er! product and ser#ice to
determine eLactl!
how much net pro$t !ou are actuall! earning from each item !ou sell% 3esol#e
to
discontinue products and ser#ices that are not as pro$table as others, and
channel more
resources into those products that are the mainsta!s of !our business%
CI& Commit To Continuous Im#rovement: Install the Kai)en process of
Hcontinuous bettermentI into !our compan!% >ind out how !our customer
de$nes
H+ualit!I and then continuall! stri#e to eLceed eLpectations%
D@& Con!entrate n The Core: Identif! the most important products and
ser#ices
!ou o=er, and then focus on getting better and better selling more and more
of them%
Probabl! M;N of the market potential for !our core products has not !et been
tapped%
@:% Fo!us n <esults: Concentrate !our best energies and resources on
getting the
most important results possible for !our compan!% 7et priorities in e#er! area
and then
work single*mindedl! to complete the few tasks that are more #aluable than
e#er!thing
else put together%
1he most important part of the 1urbostrateg! is not what !ou learn, but the
actions !ou
take, and how +uickl! !ou take those actions% 1here is a direct relationship
between how
fast !ou mo#e on a new idea and how likel! it is that !ou will e#er mo#e on a
new idea%
3esol#e toda! to become intensel! action*oriented for the rest of !our career%
Rust do it
The Tur"ostrategy Pro!ess