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Companies that get in trouble have a failure to see two realities: market trends and competitor attacks.
Michael J. Silverstein
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Michael J. Silverstein
Age: 69
Born: 1955
Born: January 1
Author
Consultant
Two
Attacks
Trends
Companies
Market
Failure
Trouble
Competitor
Company
Realities
Reality
Competitors
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I admire many entrepreneurs. They bring energy, excitement, youthful enthusiasm. What they lack in process, they make up for in gumption.
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The top 25 at every company really set the tone. Everyone watches them. They need to be present and focused. No slackers at the top. They need to meet in combination every recruit. They need to meet them on the first day. They need to teach by example. This is the lesson that great companies teach.
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People need to be inspired. They need to hear and believe a story. If you want them to be self-motivated, you need to engage them.
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Get out of the office. Roam the frontline. Be observant. Hold your people accountable for creating the new narrative, a new story, in which your customers are the most important characters. Because, you know, they really are.
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Find out what schismogenesis means. Schismogenesis is anthropology. It says relationships between people are not stable. They are either moving up or moving down. The same is true for brands. You need to understand where you are.
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Deliver infinite growth having your customers talk about you, exclaim you and tell their friends and colleagues about you.
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Failure to make the tough but necessary choices means slow painful death.
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Truth is so difficult to hear about. It must be experienced.
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A curious mind does not jump to conclusions but tests carefully and thoroughly. A curious mind will draw on all of life's experience to get to the big uh huh. The curious cut the data by quintile, by segment, and by user.
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Consumers are time constrained, budget restricted and less loved than they would like. Give them a wonderful experience and they will share it. Capture their soul and win big time.
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Business operators that really deeply care about their employees and consumers deliver the right response every day.
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Own one idea. Complete it. Map the current model of purchase and usage. Change how it is done so at least some part of the market uses only your product. Extend from that core user to a much broader universe. Describe your concept in a very short, six-word story - a la Ernest Hemingway: For sale: baby shoes, never worn.
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You need to have sufficient resources against your priorities. Your eyes have to be open every day.
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Respond to your customer's dissatisfactions with precision and power.
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Take giant leaps. Too many companies are into incremental innovation. The only thing that moves markets is violent turns. Major differences. Don't get caught in the trap of small steps.
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