September 17, 2004

Excerpts: Everything You Need to Know About Strategy - Part XV

By: 800-CEO-READ @ 1:14 PM – Filed under: Management & Workplace Culture

13. Do you understand business mantra #1 of the 00s: DONT TRY TO COMPETE WITH WAL*MART ON PRICE OR CHINA ON COST? (And if you get this last idea, then see the 12 above!)
Clients want either the best or the least expensive; there is no in between.#65533;John
Di Julius, Secret Service
Business as usual is dead. And I, for one, say ... Hurray.#65533; (See above, #12: Show up. Shut up. Or starve.#65533;) John Di Juius gets it. He is a wildly successful, wildly passionate service-experience fanatic ... who runs a small chain of beauty salons. He cant compete with Regis on price. Whats left#65533;: BE BETTER! BE BEST! BE THE ONLY ONES WHO DO WHAT WE DO!#65533;
John Di Julius wakes up in the morning with the same issues (and opportunities) that confront GEs Jeff Immelt and IBMs Sam Palmisano when they roll out of bed. Its not your fathers world.#65533; (In Immelts case, Its not Jack Welchs world.#65533; See #4 above on Jeffs newfound commitment to breath-taking, mind-blowing, world-rattling#65533; innovation.)
In short: DONT TRY TO COMPETE WITH WAL*MART ON PRICE OR CHINA ON COST. Try instead to be the only ones who do what we do#65533;whether the tableau is a 1-person accountancy, a 10-chair beauty salon, a 400,000-person behemoth, or your/my career as newly minted Brand You.#65533;
My bottom line: HOW SWEET IT IS!
Cubicle slavery is on its last legs.
Commodity strategies are by and large bankrupt.
Passion and commitment matter most.
Creativity wins.
The individual reigns.
Were on our own.

(Ben Franklin would chuckle with delight!)
(Henry Ford would be horrified!)