Leadership When It Counts Most

1
Leadership When It Counts Most

• Presenter Art Turock
• www.Turock.com

2

3

4
Creating blockbuster new BM does not require
ability to predict the futurebut ability to
redefine the present.
--Deloitte Consulting
5
All industries are not created by big resources
but by big ideas.
--INSEAD
6
Consumers Stating No Innovation of Value
1999-2001

• Insurance 72.3
• Government 69.2
• Investing 65.5
• Hospitals/Nursing Care 63.4
• Education 58.4
• Restaurants 57.2
• Entertainment 52.6
• Banking 38.3

7
Sustainable Sales Growth
1. Compete In Markets You Can Win
8
No one is really average. Stores developed for
average needs really dont meet anyones needs
ideally.
-Rich Kiley, PG
9
find those who love you more than anything and
can't live without you." . -David Albright, Pepp
eridge Farm
10

• Target Minimally Contested Markets
• ESPN sports enthusiast
• Cooper Clinic wellness
• Progressive high risk driver
• Home Depot home improvement
• Kinkos home office entrepreneur
• Tractor Supply recreational farmer
• Wainwright Bank socially responsible

11
Sustainable Sales Growth
1. Compete in Markets where you can win
12
Latent Needs What customers might value, but
have never experienced and would never think to
ask for
13

• 1 THREAT
• Asking customers what they want .
• And giving it to them

14
Sources for Latent Needs

• Assumptions that create compromises

15
Sources for Latent Needs

• Assumptions that create compromises
• Trends/changes that suggest intensifying customer
  needs

16
BUCKETS OF INFORMATION
17
(No Transcript)
18
What we sell is the ability for a 43-year old
accountant to dress in black leather, ride
through small towns and have people be afraid of
him.
19
Asking customers what they want is ordinary.
Giving them value theyd never think to ask for
produces extraordinary
sales growth.
20
what a party
21
Idea Generation Round I
Uncompro-mising Customers
Futurists
Raving Fans
Aliens
Imagine you are a very uncom-promising shopper.

What wont you tolerate?
Note existing trends and current changes.

Imagine intensifying customer needs.
List companies you love to do business with.

Practices you appreciate about each company
Assumptions taken for granted about being
successful in banking
business
22
Idea Generation Round II
Warren Buffets Benefactors
Visionaries
Translators
Contrarians
With no financial restraints solve the
compromises.
Imagine what kind of products and services might
capitalize on these intensifying needs.
Take favorite practices and translate them to
banking industry.
Pick an conventional assumption and do the
opposite.
23
(No Transcript)
24
Most Strategic Planning Processes Kill
Innovation.
25
TRADITIONAL STRATEGIC PLANNING

• Annual retreat permits total focus on the future
• Senior management responsible for conceiving
  strategy
  
• Focus on financial results 
• Benchmark against industry competitors
• Competitive analysis dictates strategic moves
• Market research justifies decisions
• Get it right the first time

26
INNOVATION PRINCIPLES

• New thinking

27
Effective Intelligence
Jerry Rhodes
Logic
Data
Ingenuity
Values
Impressions
Vision
28
Effective Intelligence
Jerry Rhodes
29
INNOVATION PRINCIPLES

• New perspectives
• New conversations

30
(No Transcript)
31
(No Transcript)
32
INNOVATION PRINCIPLES

• New perspectives
• New conversations
• New treatment of mistakes

33
THE NOBILITY OF MISTAKES

• Guarantee significant learning.
• De-risk the opportunity.
• Connect champions with plusers

34
How would you like a job where every time you
made a mistake, a red light would go on and
18,000 people would boo.-Jacque Plante
35
INNOVATION PRINCIPLES

• New perspectives
• New conversations
• New treatment of mistakes
• New priorities

36
INNOVATION PRINCIPLES

• New perspectives
• New conversations
• New treatment of mistakes
• New priorities
• New standard of differentiation

37
high
low
38
(No Transcript)
39
Encourage role pioneering
40
TAKE HOME IDEAS TOOLS

• Ground rules for nobilizing mistakes
• Trend tracking/article clipping
• Monitor examine assumptions
• Involve diverse viewpoints in generating new
  product and service ideas
  
• Adopt different perspectives unusual questions
• Log of compromises
• Encourage role pioneering
• Strategy profiling

41
CONTINUOUS LEARNING

• Complimentary one- year follow-up option. Your
  questions on application of ideas from this
  session (art_at_turock.com)
  
• 2. Books for colleagues, family,
• 20 discount, plus..

42
WHATS IT GOING TO BE--REASONS OR RESULTS?
43
TAKE HOME IDEAS TOOLS

• Ground rules for nobilizing mistakes
• Trend tracking/article clipping
• Monitor examine assumptions
• Involve diverse viewpoints in generating new
  product and service ideas
  
• Adopt different perspectives unusual questions
• Log of compromises
• Encourage role pioneering
• Strategy profiling