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Step Out … Or Get Stepped On!

Tom Peters/11.01.2004

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Step Out … 

Or GetStepped On!

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“[The decline of rnds" doesn#t men tht

m$in% etter %i&mo no lon%er mtters'offering genuinely innovative

 products is, more than ever, the

best way to capture marketshare. (ut s))* consumers re no

lon%er +ilin% to p* hi%h premium for nother+ise identicl product ecuse it hs fnc* nmeplte., '-mes Suro+eic$i/Wired  /11.04

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“ focus on costcuttin% nd efficienc*

hs helped mn* or%ni&tions +etherthe do+nturn ut this pproch +ill

ultimtel* render them osolete. Only

the constant pursuit ofinnovation can ensure long-

term success.”  'niel u&*$ en SuderSchool of (usiness 3ni) of (ritish olumi 5FT  /06.17.048

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r. -efferson#s“oonstruc$ ind,

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the wildestchimera of a

moonstruck

mind”  'The Federalist  on-efferson#s 9ouisin Purchse

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:iels (ohr to ;olf%n% Puli

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onte>t< Sorr* ?ecord

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@ores100 from 1617 to 16A7

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(3J9T TO … FTF?JO?TF!

 “;hen it comes to in)estin% J m old school. (u* %ood stoc$ stic$ it inthe dr+er nd +hen *ou chec$ c$ *ers lter the stoc$ should e+orth more. There#s onl* one prolem. ;hen J chec$ed the dr+er

recentl* it +s full of clun$ers includin% 9ucent do+n 64 percent from its1666 hi%h. *e once upon time u* nd hold +s )ile strte%*.Tod* it no lon%er m$es sense.,'hrles Stein/ “Jn)estment Strte%ies

ust Shift +ith ?elities,/+oston /lobe /10.10.04

smple of Stein#s “(lue hipturnedclun$er, e>mples< @nnie e 5fetured in ollins# /ood to /reat 8. o$e. 5“lun$er, m$e tht

“Stin$er.,8 erc$. 5The mi%htiest fll'stoc$ do+n KB percent since 2000Ctumle preceded Lio>>8 3h … icrosoft. 5“icrosoft#s stoc$ price is no

hi%her tod* thn it +s in 166A.,8 

“Jt is not cler there is such thin% s M(lue hip#, Sh+n Hr)et&president of (ostonsed hed%e fund Fsplnde pitl told Stein.

“Hr)ets point is serious one, Stein continues. /reatness is not permanent. 0 This process of creative destruction isn1t new. +ut with the

world moving ever faster, and with competition on steroids, the 2uaint

notion of buying and holding is hopelessly out of step.” 

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/ood management was the

most powerful reason 3leading

firms4 failed to stay atop theirindustries. Precisel* because these firms

listened to their customers in)ested %%ressi)el* in

technolo%ies tht +ould pro)ide their customers morend etter products of the sort the* +nted nd

ecuse the* crefull* studied mr$et trends nds*stemticll* llocted in)estment cpitl to

inno)tions tht promised the est returns the* losttheir positions of ledership.,

l*ton hristensen The 5nnovator1s (ilemma

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:orml N:othin%

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“The Msurplus societ*# hs surplus of

similar  compnies emplo*in%similar  people +ith similar  eductionl c$%rounds comin% up

+ith similar  ides producin%similar  thin%s +ith similar prices

nd similar  =ulit*.,HEell :ordstrm nd -ons ?idderstrle Funky +usiness

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Funky +usiness< “To succeed +e

must stop ein% so %oddmnnorml. Jn +innert$esll +orld

normal 6

nothing.” 

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“When we did it‘right’ it was

still pretty

ordinary.”(rr* Gions on 7ightmare 7o. 8” 

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“;hile e)er*thin% m*

e etter it is also

increasingly

the same.” Pul Golder%er on retil “The Smeness of Thin%s, The 7ew 9ork Times

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“Brands have run

out of juice.They’re dead.” 'He)in?oerts/Stchi Stchi

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(i& “Strte%*, ?ule Q1

 on#t e)en thin$ out

competin% +ith;lRrt on price or

hin on cost: 

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(e*ondompre!

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“You do not merely want to be

the best of the best. Youwant to be

considered theonly ones who do

what you do.”-err* Grci

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“A great company

 is defned by theact that it

 is not compared

 to its peers.”Phil Purcell or%n Stnle*

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 Success means neverletting the competition

dene you. !nstead youhave to dene yourself basedon a point of view you care

deeply about.” Tom hppell Tom#s of ine

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“"et’s ma#e

a dent in theuniverse.”  Ste)e -os

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?ichrd (rnson#s stted hurdlesfor n* ne+ Lir%in product orser)ice

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Sir ?ichrd#s ?ules<

Follow your passions.Heep it simple.

Get the est people to help *ou.?ecrete *ourself.

Pl*.Source< Fortune /10.0B

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  He)in ?oerts# redo

1. ?ed*. @ire! im.2. Jf it in#t ro$e ... (re$ it!B. ire cr&ies.

4. s$ dum =uestions.I. Pursue filure.K. 9ed follo+ ... or %et out of the +*!7. Spred confusion.

? i i G l Fl t i

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?eim%ine Generl Flectric

“;elch +s to lr%e de%ree %ro+th*c=uisitionmn. MJn the lte #60s# Jmmelt s*s M+e ecme

usiness trders not usiness %ro+ers. Tod* or%nic%ro+th is solutel* the i%%est ts$ of e)er*one of

our compnies. Jf +e don#t hit our or%nic %ro+th

tr%ets people re not %oin% to %et pid.# … 5mmelt

has staked /=1s future growth on the force

that guided the company at it1s birth and

for much of its history) breathtaking, mind-

blowing, world-rattling technologicalinnovation.”  '“GF Sees the 9i%ht,/+usiness #.

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1st 9+ $t% Ph*sics< O>=?T +=7=F5T  5@ocus< 1 or2 B or 4/“One Gret Thin%.,Source Q1< Personl Pssion8

2: 9+< ?=* ?=*@O7 TO +=5=>=  5Stnd eli)er!8

B? 9+< (?**T5'(5FF=?=7'=  5F>ecs on#t Get Jt<

See the ne>t slide.8

Source< Aump @tart 9our +usiness +rain ou% ll

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2 Uuestions<

“$ow li#ely are you to purchase this new product or

service%” 56ID to 100D +ei%htin% * e>ecs8

“$ow uni&ue is this new product or service%” 50D to IDR8

R7o e;ceptions in #< years V ou% llAump @tart 9our +usiness +rain

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rem On

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The r$etin% of rems 5rem$etin%8

rem$etin%< Touchin% the clients# drems.

rem$etin%< The rt of tellin% stories  nd entertinin%.

rem$etin%< Promote the drem not  the product.

rem$etin%< (uild the rnd round  the min drem.

rem$etin%< (uild the “u&&, the

  “h*pe, the “cult.,Source< Gin 9ui%i 9on%inotti(uitoni

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  (uildin% the reti)e Or%ni&tion

hoose cretor< The culturl leder +ho %i)es the

compn* n esthetic point of )ie+.ire eclecticll*< ire collortors +ith differentcultures nd pst histories in order to lnce ri%or+ith emotion.

Prepre )erticll*< e)elop ri%orous understndin%of the product nd the client.e)elop hori&ontll*< Promote curiosit* in unrelteddisciplines.9ed emotionll*< Fn%ender pssionte dedictionthrou%h )ision nd freedom.(uild for the lon% hul< reti)it* re=uires lifetimecommitment.

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“The sun is settin% on the Jnformtion Societ*'e)en efore +eh)e full* dEusted to its demnds s indi)iduls nd s

compnies. ;e h)e li)ed s hunters nd s frmers +e h)e+or$ed in fctories nd no+ +e li)e in n informtionsed

societ* +hose icon is the computer. We stand

facing the fifth kind ofsociety) the (ream @ociety. … @uture products +ill h)e to ppel to our herts not to our

heds. :o+ is the time to dd emotionl )lue to products ndser)ices., '?olf -ensen/The (ream @ociety)Bow the 'oming @hift from5nformation to 5magination Will Transform 9our +usiness

F i dd /TP

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F>perience 9dder/TP

rems ome True+esome F>periences

SolutionsSer)icesGoods

?+ terils

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He)in ?oertsR

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“;hen J first su%%ested tht ove +s the +*to trnsform usiness %ro+n FOs lushed

nd slid do+n ehind nnul ccounts. (ut J$ept t them. J $ne+ it +s ove tht +s

missin%. J $ne+ tht ove +s the onl* +* to

nte up the emotionl temperture nd cretethe ne+ $inds of reltionships rnds needed. J

$ne+ tht ove +s the onl* +* usiness

could respond to the rpid shift in control toconsumers., 'He)in ?oerts/ovemarks

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“'pple opposes( !B) solves( *i#e e+horts( ,irgin enlightens( 

Sony dreams( Benetton

 protests. - Brands are

not nouns butverbs.”

Source< -enrie ru … (isruption

The good 8< percent of

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The good 8< percent of

 *merican product design comes

out of big-idea companies thtdon1t believe in talking to the

customer . The*Wre run * passionate maniacs +ho m$ee)er*od*#s life miserle until

the* %et +ht the* +nt.,(rn @erren pplied inds/Wired  12001

? l f “? di l $ ti ,

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?ules of “?dicl r$etin%,

ove C ?espect 9our 'ustomers: Bire only Dassionate issionaries: 

'reate a 'ommunity of 'ustomers: 

'elebrate 'ra!iness: +e insanely True to the +rand: 

Sm ill Glenn ?if$in ?adical arketing  5e.%. rle* Lir%in The ed (S :(8

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Cirque du

oleil!

Jnfos*s/Plnet +rpin% spirtions

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Jnfos*s/Plnet+rpin% spirtions …

“(* m$in% the Glol eli)er* odel oth le%itimte nd minstrem +eh)e rou%ht the ttle to our territor*. Tht is fter ll the purpose of

strte%*. ;e h)e ecome the leders nd incuments [J( ccenture" refollo+ers fore)er pl*in% ctchup. … o+e)er cretin% ne+ usinessinno)tion is not enou%h for rules to e chn%ed. The inno)tion must impcclients competitors in)estors nd societ*. ;e h)e seen ll this in spdes.

lients h)e emrced the model nd re demndin% it in e)en %retermesure. The cuteness of their circumstnce coupled +ith the cpilit*

nd )lue of our solution hs mde the choice not choice. ompetitorsh)e een dr%%ed $ic$in% nd scremin% to replicte +ht +e do. The* fce

trum nd disruption ut the %me hs chn%ed fore)er. 5nvestors

have grasped that this is not a passing fancy, but a

 potential restructuring of the way the world operates

and how value will be created in the future.” 

':r*n urth* chirmn#s letter Jnfos*s nnul ?eport 200B 

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;T : (?O;: O @O? XO3Y

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;eird;ins!

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@9S<

 !nnovation is

easy 

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S)iorsin;itin%

(isgruntled 'ustomers

Off-the-@cope 'ompetitors

?ogue =mployeesFringe @uppliers

;*ne (ur$n Wide *ngle >ision) +eat the 'ompetition by Focusing onFringe 'ompetitors, ost 'ustomers, and ?ogue =mployees

Th

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TJ:H ;FJ?< Thei%h Stndrd

e)ition

Fnterprise.

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“Jf *ou +orship t thethrone of the )oice of the

customer *ou#ll %et onl*incremental advances.” -oseph orone President

 (entle* olle%e

“To grow companies

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“To grow( companies

need to brea# out of avicious cycle ofcompetitive

benchmar#ing andimitation.” ';. hn Him ?enZ

uor%ne “Thin$ for Xourself 'Stop op*in% ?i)l,Financial Times /0A.11.0B

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“"he short road

to ruin is toemulate the

methods o your

ad#ersary.”' ;inston hurchill

“This is n ess* out +ht it t$es to crete nd sell somethin%

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This is n ess* out +ht it t$es to crete nd sell somethin%remr$le. Jt is ple for ori%inlit* pssion %uts nd drin%. Xou cn#t eremr$le * follo+in% someone else +ho#s remr$le. One +* to fi%ure

out theor* is to loo$ t +ht#s +or$in% in the rel +orld nd determine

+ht the successes h)e in common. (ut +ht could the @our Sesons ndotel K possil* h)e in commonY Or :eimnrcus nd ;lRrtY Or

:o$i 5rin%in% out ne+ hrd+re e)er* B0 d*s or so8 nd :intendo5mr$etin% the sme Gme (o* 14 *ers in ro+8Y Jt#s li$e tr*in% to dri)e

loo$in% in the rer)ie+ mirror. The thing that all these

companies have in common is that theyhave nothing in common. The* re outliers. The*#re onthe frin%es. Superfst or superslo+. Ler* e>clusi)e or )er* chep. F>tremel*

i% or e>tremel* smll. The reson it#s so hrd to follo+ the leder is this<The leder is the leder precisel* ecuse he did somethin% remr$le.

nd tht remr$le thin% is no+ t$en'so it#s no lon%er remr$le +hen*ou decide to do it., 'Seth Godin Fast 'ompany  /02.200B

;*s to ?ise Purple o+

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*

Thin$ smll. One )esti%e of the TL

industril comple> is need to thin$mss. Jf it doesn#t ppel to e)er*one

the thin$in% %oes it#s not +orth it.

Thin$ of the smllest concei)lemr$et'nd descrie product thto)er+helms it +ith remr$ilit*. Go

from there.Source< Seth Godin Fast 'ompany  502.200B8

“ MGint# proEects contin +ithin them the

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“ MGint# proEects contin +ithin them thelmost certin seeds of mediocrit*. The

)er* fct of their si&e cuses constntscrutin* nd thence Mpoliticl# interferenceSuch Mo)ersi%ht# drins the pssion of the

chmpions nd ris$s'to the point ofcertint*'ftl Mdumin% do+n# ndthence loss of the )er* distinction nd=uir$iness sou%ht in the first plce.,'

F>ec oll*+ood 

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5nnovation:  :OT

$mitation

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Fmplo*ees

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  ;h* o J lo)e @re$sY

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518 (ecuse +hen n*thin% Jnterestin% hppens … it +s freak  +ho did it. 5Period.8528 Freaks re fun. 5@re$s re lso pin.8 5@re$s re ne)erorin%.85B8 ;e need freaks. Fspecill* in fre$* times. 5int< These refre$* times for *ou me the J the rm* )on.8548 criticl mss of freaks-in-our-midst utomticll* m$e us+horenotsofre$* t lest some+ht more fre$*. 5;hich is Good Thin% in fre$* times'see immeditel* o)e.85I8 Freaks re the onl* 5O:9X8 ones +ho succeed's in m$e itinto the histor* oo$s.5K8 Freaks $eep us from fllin% into ruts. 5Jf +e listen to them.85;e seldom listen to them.8 5;hich is +h* most of us'nd ouror%ni&tions're in ruts. $e tht chsms.8

e)ints Jnc (eviance tells

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e)ints Jnc. (eviance tells

the story of every massmarket ever created.  ;htstrts out +eird nd dn%erous

ecomes meric#s ne>t i% corportep*d*. So re *ou loo$in% for the ne>tmss mr$et ideY Jt#s out there … +*

out there.,Source< ?*n tthe+s ;tts ;c$er Fast 'ompany  50B.028

“Th ( ttl $ i t th

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“The (ottlenec$ is t theTop of the (ottle,

“;here re *ou li$el* to find people +iththe lest di)ersit* of e>perience the lr%est

in)estment in the pst nd the %retest

re)erence for industr* do%mY

  *t the top:”  ' Gr* mel “Strte%* or ?e)olution,/

Barvard +usiness ?eview 

;FJ? JFS TT ;O?H< 518 ire slo+ lerners 5of theor%ni&tionl code8. 51.I8 ire people +ho m$e *ou

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or%ni&tionl code8. 51.I8 ire people +ho m$e *ouuncomfortle e)en those *ou disli$e. 528 ire people *ou

5prol*8 don#t need. 5B8 3se Eo inter)ie+s to %et ides not

to screen cndidtes. 548 Fncour%e people to i%nore nd def*superiors nd peers. 5I8 @ind some hpp* people nd %et themto fi%ht. 5K8 ?e+rd success nd filure punish inction.

578 ecide to do somethin% tht +ill prol* fil then con)ince*ourself nd e)er*one else tht success is certin. 5A8 Thin$ of

some ridiculous imprcticl thin%s to do then do them.568 )oid distrct nd ore customers critics nd n*one +ho Eust +nts to tl$ out mone*. 5108 on#t tr* to lern n*thin%

from people +ho seem to h)e sol)ed the prolems *ou fce.5118 @or%et the pst prticulrl* *our compn*#s success.

 (o Sutton Weird 5deas That Work) 88E 5deas for Dromoting,anaging, and @ustaining 5nnovation

d)ice to orporte 9eders< “onsider the

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metphor of the +indmill< Xou cn hrness r+po+er ut *ou cn#t control it. … ire rtists

clo+ns or other disrupters to come in ndchllen%e *our corporte en)ironment. … ire corporte nthropolo%ist to nl*&e ho+ tolern

*our or%ni&tion is of de)ints nd otherinno)tors. … Once the anthropologist

leaves, hire a shaman to drive out the

evil spirits of conformity. 0” Source< ?*n tthe+s ;tts ;c$er Fast 'ompany  50B.028

esure “Strn%eness,/Portfolio Uulit*

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% *

Stff onsultnts

(ordLendors

Outsourcin% Prtners 5Q Uulit*8Jnno)tion llince Prtners

ustomers

ompetitors 5+ho +e “enchmr$, %inst8 Strte%ic Jnititi)es

Product Portfolio 59ineF> ). 9ep8JS/JT

U 9oction

9unch tes9n%u%e

J ti J d

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Jnno)tion Jnde>< o+

mn* of *our Top IStrte%ic Jnititi)es score

7 or hi%her 5out of 108 on “;eirdness/Profundit*

Scle,Y

“$t’s no longer enough to

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“$t’s no longer enough to

be a ‘change agent.’ %oumust be a changeinsurgent &pro#o'ing(

prodding( warninge#eryone in sight that

complacency is death.” '(o ?eich

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rete use

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G..

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“)anagement has a lot to do

with answers. *eadership is aunction o questions. And thefrst question or a leader

always is+ ‘Who do weintend to be,’ -ot ‘What arewe going to do,’ but ‘Who do

we intend to be,’” '> e Pree ermn iller 

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“,ision is a lovea/air with an

idea.” '(o*d lr$e ?on rosslnd Theeader1s >oice

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“0reams are

ideas with passion.”  'Phil r$ins  Heith ollihn F)er*od* ;ins 5the ?F/ stor*8

Organi!ing /enius / ;rren (ennis nd Ptrici ;rd (iedermn

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“Groups ecome %ret onl* +hene)er*one in them leders nd

memers li$e is free to do his or

her absolute best.” 

“The est thin% leder cn do for

Gret Group is to allow its

members to discover theirgreatness.” 

9es::::::::::::::::: 

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“free to do his or herabsolute best” -

 “allow its membersto discover their

greatness.”

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*stonish me:”  / S..

+uild something great:”  /

.X.5mmortal:”  / .O.

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Onl* theJnsne :eed

ppl*!

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“$’m loo'ing orinsane

commitment.” 'T+*lThrp The 'reative Babit 

“"earn not

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"earn notto be

careful” 

'Photo%rpher ine rus to her students 5reful N“The sidelines, per rriet ?uin in The Drincessa8

?eward e;cellent

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?eward  e;cellent

failures. Dunish 

mediocresuccesses.” 

Phil niels S*dne* e>ec

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9o)e $esthe ;orld Go#?ound

@ ft” 5

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@oft” 5s

Bard ”  JSOF

ess%e< 9edership is

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ll out love: 3Dassion,=nthusiasms, *ppetite for ife,=ngagement, 'ommitment, /reat

'auses G (etermination to ake a(amn (ifference, @hared *dventures,

+i!arre Failures, /rowth, 5nsatiable

 *ppetite for 'hange.4 3Otherwise, why botherHAust read (ilbert. TD1s final words) '975'5@ @'I@.4 

The ?eim%ineer#s redo … orPit* the Poor (ro+nR

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Pit* the Poor (ro+n

Technicolor Times demnd …Technicolor eaders and +oards +ho recruit …

 Technicolor Deople +ho re sent on …Technicolor Juests to e>ecute …

Technicolor "WOW:% DroKects in prtnership +ith …Technicolor 'ustomers nd …Technicolor @uppliers ll of +hom re in pursuit of …

Technicolor /oals and *spirations fit for …

Technicolor Times.R;S

 

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“!f you as# me what !have come to do in

this world( ! who am

an artist( ! will reply1! am here to live my

life out loud.” ' \mile ]ol

“"he only reason

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"he only reason

they come to see meis that $ 'now that

lie is great&andthey 'now $ 'now it.”

'lr$ GleR

Rourtes* Tom orris The *rt of *chievement 

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Onl* theJnsne :eedppl*!

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“%ou can’t beha#e ina calm( rational

manner. %ou’#e got tobe out there on thelunatic ringe.” ' -c$ ;elch

“Beware of the

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Beware of the

tyranny of ma#ing Small2hanges to Small

Things. 3ather( ma#eBig 2hanges to Big

Things.” '?o%er Fnrico former hirmn Pepsio

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0 a powerful andmadly e;uberant

work”  '* Times on @rn$ Gehr*#s;lt isne* oncert ll 510.0B8

“$n "om’s world( it’sl b

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always better to try aswan

 di#e and deli#er a

colossal belly op than tostep timidly o/ the

board while holding yournose.” 'Fast 'ompany  /Octoer200B