Level 5 Leadership
Greatness is not a function of circumstance greatness
it turns out is largely a matter of conscious choice
level five leader is humble and fearless...
personal will and personal humilty dont settle for nothing but the best and are humble people
get the right people on the bus in the right seats and the wrong people off the bus
Confront the Brutal Facts
(yet never lose faith)
You absolutely cannot make a series of good decisions without first
confronting the brutal facts
The Stockdale Paradox
Retain Faith that you will prevail in the end regardless of the difficulties
And at the same time confront the most brutal facts of your reality whatever they may be
Dont set dates on things because if they dont happen you get discouraged
when Stockdale was in the Hinoi Hilton prison camp he said the optimists died because
they got discouraged because of saying "we will be out by next christmas" never happened
so this brought them down. So confront the brutal facts and always keep faith and think that
you will get out of your problem and never run away from them confront them head on.
The Hedgehog Concept
What are you the best at in the world
What drives your economic engine
What are you deeply passionate about
Know thyself
A hedge hog conecpt is not a goal to be the best
It is an understanding of what you can be the best at
Know one big thing and stick to it
Which is more important
the goal to be the best at something or realistic understanding
of what you can and cannot be the best at
Can each group and each person have a hedgehog concept?
My Hedge hog concept is...
Be the best fighter in the world
I am passionate about fighting and love it
the rewards and the feel of fighting drive me towards my goal
knowing that i can get rewards for something i love and enjoy.
that is my hedgehog concept.
A Culture of Discipline
You focus on what you've accomplished relative to exactly what you said you were going to accomplish
- no matter how tough the measure
Should we have a stop doing list ?What should be on the list?
Monday, April 18, 2011
Martha Stewart
Father really pushed her as a child had to make her own clothes. She worked as a model for a little while before she went to the university of columbia then dropped out and got married became a stock broker and learnt how to create a good buisness from clients. She opened her first buisness which was catering weddings. She has created a giant buisness that grossed over 1.7 billion dollars and had signed a 500 million dollar deal with K-Mart to sell her products.
Key Learning is don't overlook humble beginnings and if your family pushes you to succeed chances are you will succeed and do well for yourself.Try and get a good education and do the things you love otherwise why do them at all if your not going to enjoy it.
Thursday, April 14, 2011
Teen Entrepreneur
Brian Wong is a 19 year old Vancouver resident that thinks the future of mobile advertisement isnt on billboards or banners but in mobile video games.
His company Kiip has secured buisnesses such as Dr Pepper and Sony to name a few to give away prizes
who beat hard levels on video games or get the high score.
Last year he went to San Francisco for a job interview with the website Digg. He was laid off 4 months after getting the job (this was his largest failure to him so far)
His company Kiip has secured buisnesses such as Dr Pepper and Sony to name a few to give away prizes
who beat hard levels on video games or get the high score.
Last year he went to San Francisco for a job interview with the website Digg. He was laid off 4 months after getting the job (this was his largest failure to him so far)
This year Kiip has secured 4 million US from investment funding.
Tuesday, April 12, 2011
Bill Gates Summary
Friday, April 1, 2011
Sam Walton
He sold things cheaper then everyone, he never thought of anything except for building up wal mart at one point in time he had the largest fortune in amercia. His fathers job was to evict people from farms who couldnt pay thier bills. Sam Walton was born in 1918.After the first world war his father took the family to Massuri but things only got worse.After seeing his father job and what had happened to them he wanted to make sure he would never be poor. Sam started selling milk after football practice to help with his family.His parents always quarelled , he saved someone from drowning in a lake then became a golden eagle scout (he was in scouts) so he became very popular.In 1936 he entered a college and he started his first paper route which he turned into a small buisness. He started to work at J.C Penny and even got help from J.C Penny when he came to the store once.He tryed to join the army but wasn't able to because of a heart condition but was put on the reserve list.So well waiting to be called to war he got a job in a gun powder factory.He met his wife in the bowling alley then married her on valentines day.He went to war finally but then the war ended the next year he came back and began to start a plan for a buisness .
In 1945 he bought a small store and was confident that he could turn this bad buisness around and he found a way to sell goods for cheaper then other stores then he went out at night to get stock and then have it ready for the money.He thrived on beating the competition and was very good at.Within 3 years he payed off the loan he took from his father then hired his younger brother Bud as assistant manager.The owner of Sam's store wouldnt re-lease his building to Sam because he was jealous of him and wanted the building for his son but Sam didnt give up.
He went to Arkansaw and they moved into Bentinville then bought a store there and he made sure to get a 99 year lease and began to become popular in that town he was part of the towns council. Sam wanted to satisfy America's needs he heard about self service which then let customers could get their own things and then he would have to pay less for staff this was a grand success. In just over 10 years he acquired over 15 stores from arkansaw missori and kansas. He found a new procedure called discounting where he would just buy items straight from the manufacturers. Which once again allowed him to make more money.
He wanted to start his own franchise which then he had to go into debt very large but he knew this would work so he started his first store called Wal-Mart and he began stocking it with what ever he could find so from tools to clothing. It made a million dollars in sales the first year. In 1961 he bought ownership in the bank which then he could loan himself money at the bank. He expanded about 2 stores a year and then he had 18 stores within 6 years. He took his family on month long vacations usually camping to make up for the time he was gone. By 1970 he had 32 stores and his chain was still growing.He was still in debt for over 2 million dollars.He put the store on the stock market for public sale and had to compete against K-Mart.He would walk into competing stores and if he seen a lower price in their store he would call his store and tell them to lower it right now.He opened the profit sharing to all his employees. He had 195 stores by 1975 within a 160 mile radius and soon he was opening about 100 stores a year. In 1983 he was diagnosed with Lukimia and then he took an experimental drug and it worked. Hilliary Clinton worked in Wal-Mart with Sam and he had been friends with Bill Clinton.Unions were trying to unionize Wal-Mart but it was voted down and he also started a buy America campegin which once again boosted Wal-Marts popularity. He became the richest man in America but you would never know if you seen him at home when and then Black Monday came along and he lost 1 and a quarter billion dollars and said its only paper. The Waltons set up a scholarship fun where they sent 150 kids from communist countries to christian schools where they learnt about america and democracy.In 1991 Wal-Mart became the biggest retailer in america. Then in 1992 the president gave him the medal of freedom for his vision and Wal-Mart.He died 6 days after his 74th birthday.
The key idea is always to watch your competitors and to dream big no matter what and never let failure bring you down and make sure that your always humble . His mentors were his father and eventually Bill Clinton even the passion for him began when he seen what his father was doing for work and when he got a taste of buisness thats when the passion of buisness set in with him.
In 1945 he bought a small store and was confident that he could turn this bad buisness around and he found a way to sell goods for cheaper then other stores then he went out at night to get stock and then have it ready for the money.He thrived on beating the competition and was very good at.Within 3 years he payed off the loan he took from his father then hired his younger brother Bud as assistant manager.The owner of Sam's store wouldnt re-lease his building to Sam because he was jealous of him and wanted the building for his son but Sam didnt give up.
He went to Arkansaw and they moved into Bentinville then bought a store there and he made sure to get a 99 year lease and began to become popular in that town he was part of the towns council. Sam wanted to satisfy America's needs he heard about self service which then let customers could get their own things and then he would have to pay less for staff this was a grand success. In just over 10 years he acquired over 15 stores from arkansaw missori and kansas. He found a new procedure called discounting where he would just buy items straight from the manufacturers. Which once again allowed him to make more money.
He wanted to start his own franchise which then he had to go into debt very large but he knew this would work so he started his first store called Wal-Mart and he began stocking it with what ever he could find so from tools to clothing. It made a million dollars in sales the first year. In 1961 he bought ownership in the bank which then he could loan himself money at the bank. He expanded about 2 stores a year and then he had 18 stores within 6 years. He took his family on month long vacations usually camping to make up for the time he was gone. By 1970 he had 32 stores and his chain was still growing.He was still in debt for over 2 million dollars.He put the store on the stock market for public sale and had to compete against K-Mart.He would walk into competing stores and if he seen a lower price in their store he would call his store and tell them to lower it right now.He opened the profit sharing to all his employees. He had 195 stores by 1975 within a 160 mile radius and soon he was opening about 100 stores a year. In 1983 he was diagnosed with Lukimia and then he took an experimental drug and it worked. Hilliary Clinton worked in Wal-Mart with Sam and he had been friends with Bill Clinton.Unions were trying to unionize Wal-Mart but it was voted down and he also started a buy America campegin which once again boosted Wal-Marts popularity. He became the richest man in America but you would never know if you seen him at home when and then Black Monday came along and he lost 1 and a quarter billion dollars and said its only paper. The Waltons set up a scholarship fun where they sent 150 kids from communist countries to christian schools where they learnt about america and democracy.In 1991 Wal-Mart became the biggest retailer in america. Then in 1992 the president gave him the medal of freedom for his vision and Wal-Mart.He died 6 days after his 74th birthday.
Wednesday, March 30, 2011
Market Research and Analysis
Industry
a collection of businesses with a common line of products or services
Carrying Capacity
the ability of industry to support new growth
Uncertaninty
is the degree of stability or instability in an industry
Complexity
the number and diversity of contacts with which a buisness must deal
Stage of life cycle
1 birth
2 growth
3 maturatity
4 decline
Market
A group of people or companies who have a demand for a product or service and are willing and able to buy it
Target Market
a specific group of customers who a business wishes to reach
Market Segmentation
the process of grouping a market into smaller subgroups defined by specific characteristics
Market Segments
subgroups of buyers with similar characteristics segmented by geographics demographics psychographics and buying characteristics
Geographics
the study of market based on where customers live including region state country city and or area
Psychographics
the study of consumers based on social and psychological characteristics including personality values opinions beliefs motivations attitudes and lifestyle elements
Industrial Markets
customers who buy goods or services for business use
Target Market
1 measureable
2 large enough to be profitable
3 reachable
4 responsive
Market Research
the collection and analysis of information aimed at understanding the behavior of consumers in a certain market
Exploratory Research
The initial collect and analysis of information used when very little is known about a subject ; it forms a foundation for later research
Focus Group
a group of people whose opinions are studied to determine the opinions that can be expected from a larger population
Descriptive Research
the collection of information to determine the status of something such as in developing a customer profile
Historical Research
the study of the past to explain present circumstances and predict future trends
Secondary data
information that has already been collected by someone else
ex.govermant data
Primary data
information collected for the first time is current and relates directly to the collectors study
ex.surveys and questionaires
a collection of businesses with a common line of products or services
Carrying Capacity
the ability of industry to support new growth
Uncertaninty
is the degree of stability or instability in an industry
Complexity
the number and diversity of contacts with which a buisness must deal
Stage of life cycle
1 birth
2 growth
3 maturatity
4 decline
Market
A group of people or companies who have a demand for a product or service and are willing and able to buy it
Target Market
a specific group of customers who a business wishes to reach
Market Segmentation
the process of grouping a market into smaller subgroups defined by specific characteristics
Market Segments
subgroups of buyers with similar characteristics segmented by geographics demographics psychographics and buying characteristics
Geographics
the study of market based on where customers live including region state country city and or area
Psychographics
the study of consumers based on social and psychological characteristics including personality values opinions beliefs motivations attitudes and lifestyle elements
Industrial Markets
customers who buy goods or services for business use
Target Market
1 measureable
2 large enough to be profitable
3 reachable
4 responsive
Market Research
the collection and analysis of information aimed at understanding the behavior of consumers in a certain market
Exploratory Research
The initial collect and analysis of information used when very little is known about a subject ; it forms a foundation for later research
Focus Group
a group of people whose opinions are studied to determine the opinions that can be expected from a larger population
Descriptive Research
the collection of information to determine the status of something such as in developing a customer profile
Historical Research
the study of the past to explain present circumstances and predict future trends
Secondary data
information that has already been collected by someone else
ex.govermant data
Primary data
information collected for the first time is current and relates directly to the collectors study
ex.surveys and questionaires
Monday, March 28, 2011
Blue Ocean Strategy
A Blue Ocean Strategy is a buisness idea that is so far out there that there isnt any competetion for it because its never been done and is new and innovative something that combines two things to draw from both crowds an example of this is Cirqu du Solei which combines the circus concept along with theatre which then brings both crowds so if you want to see entertainment that can be creative and intellectual it is perfect along with no one else can pull it off like they can so there is no competietion to worry about. The opposite of this blue ocean is a Red Ocean which is an ocean of all the same types of buisnesses which just undercut each other and try to win customers with prices and nothing new and innovative as though they are just trapped in the harbor and can only come up with simple ideas and attack other companies resulting in red in the water people that can achieve a blue ocean are thinking outside of the harbor using big ideas and are very creative. A Red Ocean company could be Coca-Cola and Pepsi which are practically the same drink and just undercut each other.
The Six Principals of the Blue Ocean Strategy are
1:Reconstruct Market Boundries
which is just doing things that aren't typical for that brand of product or buisness
2:Focus On The Big Picture Not The Numbers
Always focus on making your idea more innovative and less about how much money you can make from it and dont get lost in statistics
3:Reach Beyond Existing Demand
Think about future customers and not just about now
4:Get the Strategic Sequence Right
Think about the things that make a product work and its not just about creating something new and not being able to sell it but think about how much you can make it for who will buy it things like this.
5:Overcome Key Orginizational Hurdels
Make good excutive desicions and dont over use resources when you dont have them make sure everyone is in a comfortable situation to some extent and be orginized
6:Build Execution into Strategy
You need to create trust in the company you have and have trust with all participants because a blue ocean strategy has a fair sized risk and everyone needs to know they might not acheive the full potential of a blue ocean strategy
The Six Principals of the Blue Ocean Strategy are
1:Reconstruct Market Boundries
which is just doing things that aren't typical for that brand of product or buisness
2:Focus On The Big Picture Not The Numbers
Always focus on making your idea more innovative and less about how much money you can make from it and dont get lost in statistics
3:Reach Beyond Existing Demand
Think about future customers and not just about now
4:Get the Strategic Sequence Right
Think about the things that make a product work and its not just about creating something new and not being able to sell it but think about how much you can make it for who will buy it things like this.
5:Overcome Key Orginizational Hurdels
Make good excutive desicions and dont over use resources when you dont have them make sure everyone is in a comfortable situation to some extent and be orginized
6:Build Execution into Strategy
You need to create trust in the company you have and have trust with all participants because a blue ocean strategy has a fair sized risk and everyone needs to know they might not acheive the full potential of a blue ocean strategy
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