Consult Blog

tom@tompeters.com January 1st, 1970

I am not complaining—I've enjoyed my various engagements in the past 7 days. (It's the people, stupid! Everywhere! I feed off them with what seems to be an insatiable appetite.) On the other hand, I guess I'm not surprised that I've been falling asleep in various poses, then snapping out of it a few minutes to an hour later in exactly the same position in which I faded out. In the 8 days that encompassed Saturday through Saturday last, I've given nine seminar-presentations in three countries—marked by 27 hours with the lapel mic in the "on" mode. (Plus a number of media interviews, some, well, interminable—I'll go on forever if the interviewer is well prepared, but I am a bit testy when it's clear the interviewer hasn't done any prep.) Travel was: Tupelo to Memphis to Boston to London to Madrid to Buenos Aires to Frankfurt to Zurich; it encompassed 40 hours in the air and it appears 25,000 miles ... or so. (Lufthansa, as usual, takes the honors.) And all this during the week before my 65th birthday—I think a shrink might argue that I was trying to prove something to myself. Susan would argue that I did, indeed, prove it—that I'm an idiot. I, of course, will reserve judgment. I slept in Sunday in Zurich, then enjoyed a looooong walk through and around this lovely city—zonked or not, it is a privilege of the first order to have such opportunities! (And, yes, the Swiss are tidy—I don't even think the pigeons are allowed to poop.) Now in the midst of prep for a 9 a.m. to 5:30 p.m. seminar ("all day" in my lingo).

(Above, a gorgeous Japanese maple on the hotel grounds—in full fall farewell plumage. Below, street vendor roasting chestnuts—Bahnhofstrasse, Zurich.)

• Uncategorized
• Comments Off

tom@tompeters.com January 1st, 1970

Any semi-regular reader of this Blog knows I can't say enough and enough that's laudatory about Nassim Nichols Taleb's two books, Fooled by Randomness and The Black Swan—they capture my world view with incredible clarity.** Black Swan came at exactly the right moment—it offers a more or less 100% explanation for our deeply disturbed financial markets. I was around Bill Sharpe, the Nobel-holding, more or less father of contemporary portfolio theory, engine of our current woes, when he did the work that won the prize—I was mostly ignorant of what was up, but appalled by the apparent arrogance of Sharpe and his devotees. It was clear—to them—that risk would be tamed, once and for all.

[*Swans do indeed snap—I have them on my farm, or at least their kindred Chinese geese.] [**Gawd, do people get upset when one dwells on the "significant" role of luck in life—stunning and troubling and amusing at once.]

I now eagerly refer you to NNT's 24 October (sorry for the delay) magical, terse piece in the Financial Times, "The Pseudo-science Hurting Markets." The pull quote goes like this: "Medicine used to kill more patients than it saved—just as financial economics endangers the system by creating risk."

The "pseudo-science," per NNT, is" 'Nobel-crowned' methods of modern portfolio theory." Aiming to erase risk, the quants' house of cards has increased said risk immeasurably and is blowing us all away—just ask Mssrs O'Neal/Merrill and Prince/Citi about their week—decidedly more harrowing than mine. NNT really rubs it in—and I literally rubbed my hands with glee, tough to do while reading a paper, but possible if the glee-meter was as high as mine—when he pointed out the little known fact that the economics Nobel ain't the real thing; instead it's the "Sveriges Riksbank Prize in Economic Science in Memory of Alfred Nobel."

Selfishly, I don't want the world to go to hell in a handbasket—but a part of me believes that the arrogant quantocracy deserve a serious public thrashing; some, like O'Neal, will just have to learn how to live off their tens of millions of severance pay.

• Uncategorized
• Comments Off

tom@tompeters.com January 1st, 1970

As he says above, Tom is speaking all day to ZfU—Zurich International Business School. You'll find the event PowerPoint at this link; additionally Tom has created an "Alternate Master," 461 slides, based on a new approach he's used in recent presentations.

• Uncategorized
• Comments Off

tom@tompeters.com January 1st, 1970

I will stack my practical credentials as "avowed capitalist pig" up to anybody's; say, Steve Forbes. Among other things, how could one have lived in Palo Alto-Silicon Valley for three decades without "turning rabid capitalist," even if one had not been before? Likewise, today, capitalism unleashed in India and China is, I am quite certain, good for the world's prospects for some modicum of peace—and is enhancing the welfare of additional millions by the month.

On the other hand, anyone who does not believe in "market imperfections" is a loony. For instance, I believe that globalization, whatever that is, is a good thing—in fact, a very good thing. On the other hand, its impact is as messy-uneven as one would imagine, given the enormity of what's afoot. And indeed we (the Chinese and Indians at home, big time, and the rest of us, as well) must squarely address said imperfections—or pay an enormous price.

Which brings me to my point—though I'm not entirely sure what I'm trying to say. If there is anything I believe in more fervently that capitalism, it is its social twin, free speech. Hence I am inalterably opposed to muzzling ... of any sort.

But I also think that even if one is a free speech and capitalism nutter, as I am, that one can vote for the occasional dose of good taste—"manners," my Mom might have called it. Which leads me by the backdoor to the purpose of this Post. Though I wish not to muzzle, I must admit to being a little bit revolted by Saturday's Financial Times magazine, which I read in the Frankfurt airport. The issue was devoted to a single topic. The cover read: "How to spend it." (A regular feature!) I am no enemy of luxury goods—as you know from recent previous Posts, Susan gave me a Kubota 4-wheeler for my birthday. But when "one" (me) reads of the world's strife in the news section, much, if not most, of it at least an indirect product of real or perceived inequities and disaffections of some sort, "one" (me) sometimes—e.g., yesterday—wishes we, the hyper-privileged, weren't so apt to shove, de facto, our joys and toys down others' throats. It's also why I'm no fan of the new Portfolio magazine, despite excellent reporting.

I don't know how I want this Post to end. Not with a recommendation, to be sure. Just as it is, as a personal "footnote" of sorts, declaring that this certified capitalist pig feels "troubled" at times by our tendency to "flaunt it" in a way that seems distasteful ... to me. (I acknowledge, too, that it's "just" human nature—I recently read somewhere, maybe Forbes or Fortune, about the billion-dollar (!) house that India's richest dude is building outside Mumbai. Ah, well ...)

• Uncategorized
• Comments Off

steve@yastrow.com January 1st, 1970

Recently we have had some very good discussion about customer relationships—thank you for the comments. Last Friday I offered part one of a two-part defintion of a customer relationship:

A relationship is an ongoing conversation with a customer ...

Here's the rest of the suggested definition:

A relationship is an ongoing conversation with a customer, in which the customer never thinks of you without thinking of the two of you.

Comments?

• Uncategorized
• Comments Off

steve@yastrow.com January 1st, 1970

I had a conversation with a friend who recently helped set up a new furniture retail store on behalf of his employer. It was a labor-intensive job that called for all-hands-on-deck. It required everyone to chip in and do things outside their "normal" job description, which could be cause for resistance by some. Fortunately, everyone eagerly jumped in. The point of the story, however, wasn't so much about their cooperation, as it was about the fun they had. They had music playing in the background, and some sang along, while others just joked and laughed. "It was so much fun," he said, "It didn't feel like work."

His story reminded me of a time when I was recording a web seminar with a friend/colleague. We were cuttin' up and havin' a good time, accentuating our Southern drawls and sharing "what if ... " stories. At the time, I commented that if anyone walked in on us, they would think we weren't working, because we were having too much fun.

Which leads me to this question:

Continued reading You Can Be Serious Without a Suit...

TrackBack (0) | Posted by Darci Riesenhuber | Comments?

• Uncategorized
• Comments Off

news@tompeters.com January 1st, 1970

One of my favorites business books from the last few years was Chris Anderson's The Long Tail. It showed how, in a marketplace characterized by small customer-interest niches and unfettered by the constraints of limited retail space, products can succeed without being "hits." One example: Wal-Mart carries only the top 750 CD's, but consumers can find millions of other titles through online music sellers.

Over the past few days there was news that Britney Spears' new CD was #1 on Billboard's charts. That, itself, is a scary piece of news. But here's what caught my attention: Billboard later changed their list, putting the new album by The Eagles on top.

Why is that scary? The Eagles record is only available at Wal-Mart, and Billboard had to change their rules to include sales in limited retail distribution. Britney had sold about 300,000 copies, but The Eagles had sold 711,000 copies at Wal-Mart/Sam's Club in six days.

Personally, I can't wait to hear the new Eagles CD. And, I'm not one of those anti-Wal-Mart types, by any means. But it does catch my attention when American buying behavior can be so concentrated in one place. I'll admit it. I want to be part of the fragmented, interesting marketplace The Long Tail, describes.

• Uncategorized
• Comments Off

cathymosca@tompeters.com January 1st, 1970

Got dreams? Our new Cool Friend Matthew Kelly says that a lot of people have simply stopped dreaming. "And if they've stopped dreaming in their own life, good luck trying to get them to subscribe to a dream that you have for your organization." Find out more about the kind of impact dreams and ambitions have on an organization in the Cool Friends interview or in Matthew Kelly's book, The Dream Manager. Tom called it magnificent. He saw it in an airport bookstore, and though he was a bit wary of its parable presentation, he skimmed it, got hooked, and Kelly was on his way to becoming a Cool Friend. So, read the interview, pick up the book, and judge for yourself. And, should Kelly's message really resonate with you, he offers the Dream Manager Program at his company, Floyd Consulting, to help others bring dreams to life.

• Uncategorized
• Comments Off

cathymosca@tompeters.com January 1st, 1970

Tom is staying in Brussels, but speaking in Antwerp, to the Flanders District of Creativity. Wikipedia says that Flanders DC is a non-profit organization founded by the Flemish government to make the Flemish economy more competitive through creativity, entrepreneurship, and further internationalization. Cool.

The slides can be downloaded with the link below:
Flanders District of Creativity, Antwerp, Belgium

• Uncategorized
• Comments Off

cathymosca@tompeters.com January 1st, 1970

Sorry! Belated posting of my PowerPoint for Mind Consulting in Bologna. The audience was "SMEs"—folks from small and medium-sized enterprises, lots of owners. Loved it! (SME execs, worldwide, take no crap. As I said, love it!) Susan and I came to Bologna after spending my birthday in Venice. We loved Bologna, especially Saint Stephano's church; but the pictures above and below are from our magical sojourn in Venice!

• Uncategorized
• Comments Off

cathymosca@tompeters.com January 1st, 1970

In Brussels at the moment, getting ready for a speech today. (Snowed last night. Very, very light—but snow nonetheless.) I put together yet another "master"—built around a dozen Big Things "we" "gurus" typically get wrong; I called it "Guru Gaffes." It is by far the most highly annotated presentation I have ever provided—hope that meets with your satisfaction. (Let me know!) Pictures from Brussels above and below—above, World War I memorial; below typical Eurocrat office facade—the centerpiece of Brussels, home of the EU!

• Uncategorized
• Comments Off

cathymosca@tompeters.com January 1st, 1970

Speaking of WWI memorials, happy Veterans Day to our military folks—old and young, active and retired, Korea or Iraq; a special salute to those debilitated by their service. To my fellow Viet Vets, "Welcome home!"

• Uncategorized
• Comments Off

cathymosca@tompeters.com January 1st, 1970

WHAT PURE CRAP!

WALL STREET JOURNAL. NOVEMBER 9-11: "WHY WOMEN REFRAIN FROM PURSUING MBAs." ONE EXCEPTION TO "NORMAL" [#s HEAVY] APPROACH TO MBA IS UK's LANCASTER UNIVERSITY MANAGEMENT SCHOOL. LANCASTER FOCUSES ON "SOFT SKILLS" THAT "PLAY TO WOMEN'S STRENGTHS."

TOTAL, PURE, UNMITIGATED CRAP!

WHY DO WE CALL "LEADERSHIP" ET AL. "SOFT," "WOMEN'S STUFF"? ENRAGES ME. (This is the first post ever in all capital letters. Capital letters = Enraged.)

LET'S TALK ABOUT "HARD STUFF," THE "REAL GUY STUFF" THAT MAKES THE WORLD GO ROUND—AND MARKETS AND ECONOMIES CRASH!

THE ULTIMATE "HARD STUFF" IS QUANT FINANCE—THE PRODUCT OF PURE MATH—"GUY STUFF," THE STUFF THAT MEN ARE MADE FOR! TAKE "MARK-To-MARKET" AND "SUPER-SENIOR CDOs" [CONSOLIDATED DEBT OBLIGATIONS]. THEY ARE KILLING US!! "MARK-TO-MARKET"? FINE! BUT WHAT, MY DEARS, IS THE "MARKET"? NOBODY HAS A SWEET CLUE—ESPECIALLY THE "QUANTS." THE "MARKET"/A MARKET/ANY MARKET IS A FUNCTION OF THE LONG-FORGOTTEN [BY THE "QUANTS"—"HARD GUYS," "REAL MEN"] UNDER-LY-ING VAL-UE OF THE REAL [NOT "MODELED"] ASSET. [E.G. THE ORIGINAL MORTGAGE BY REAL PEOPLE ON A REAL HOUSE]. THE "QUANT"-"HARD GUYS"-"REAL MEN" MEGA-MODELS KNOW "EVERYTHING ABOUT EVERYTHING"—AND NOTHING ABOUT NOTHING ABOUT WHAT MATTERS, THE ACTUAL VALUE OF THE ACTUAL LOAN. CITIGROUP HAS NO LESS THAN $60 BILLION+ TIED UP IN "SUPER-SENIOR" CDOs [THOUGHT "SUPER-SAFE" ONLY WEEKS AGO—BY THE "QUANTS"]—AND THEY HAVE NO F-ING CLUE AS TO THE REAL VALUE OF ANY OF IT!

SOFT?
HARD?

BOB WATERMAN AND I, IN 1980, DEVELOPED A MANTRA IN THOSE DAYS OF YORE WHEN "STRATEGY [STRATEGIC PLANS] WAS EVERYTHING." WE SAID:

HARD IS SOFT.
SOFT IS HARD.

THE READILY-MANIPULABLE NUMBERS ARE THE TRUE "SOFT STUFF."

THE RELATIONSHIPS-LEADERSHIP-"CULTURE"-"ACTION BIAS" [OR NOT] ARE THE TRUE "HARD STUFF."

PERIOD.
END OF STORY.
[I WISH.]

WOMEN BEING CATERED TO BY TEACHING "SOFT STUFF"? IT WELL AND TRULY PISSES ME OFF TO READ SUCH UNMITIGATED BULLSHIT! [MY ONLY CRITICISM OF SAID WOMEN IS THAT THEY'D BE SILLY ENOUGH TO CONSIDER AN MBA IN THE FIRST PLACE!]

WOMEN GOING TO B-SCHOOL IN LESSER NUMBERS THAN HOPED FOR? PERHAPS THEY'RE ON TO SOMETHING!

• Uncategorized
• Comments Off

tom@tompeters.com January 1st, 1970

Doesn't get much better than this, extracted from the 29 October Forbes, "Thoughts On the Business of Life":

"I've come to the conclusion that the two most important things in life are good friends and a good bullpen."—Bob Lemon

(Lemon was a great pitcher for the Cleveland Indians, and subsequently a successful manager.)

• Uncategorized
• Comments Off

cathymosca@tompeters.com January 1st, 1970

Tom is in Barcelona for his old friends HSM, appearing at the World Marketing and Innovation Forum. Among others, our friend Tom Kelley from IDEO is there as well. On the photo front, Tom sends a last Venice effort, above, and a bit of Gaudi from Barcelona, below.

If you would like to get the slides from Tom’s presentation, they are available here.

• Uncategorized
• Comments Off

tom@tompeters.com January 1st, 1970

Twenty-five days, nine countries, and 19 presentations into my current trip ... I'm zonked. Hence my delay in posting my Lisbon presentation. Belatedly, here it is—from Lisbon, with HSM as organizers, and pal Tom Kelley once more as my partner.

• Uncategorized
• Comments Off

tom@tompeters.com January 1st, 1970

If it weren't for my stepson Ben, a devout Patriots fan (in the true meaning of "devout"), and Cathy and Erik, I would order a pox on the Pats—leading 42-10 at the end of three quarters, why the 14 additional points in Q4? (Patriots 56, Bills 10.)

• Uncategorized
• Comments Off

tom@tompeters.com January 1st, 1970

Speaking in Madrid today for HSM one more time. You'll find 4 PPs. One is the "Long" version of the Keynote. Next, the Main Event keynote. Then, two shorter presentations for a couple of company presentations to Ferrovial [PPT] (infrastructure—including, God help us all, Heathrow) and Starcom [PPT] (a media-creative services giant). The 28-day trip ends Tuesday, with a little help from Lufthansa. Should be fun getting questioned by Immigration. Here will be my answer to "What countries did you visit?"

Boston
United Kingdom-England
Spain
Argentina
Germany
Switzerland
Germany
Italy
Belgium-Flanders
Spain-Catalonia
Portugal
Spain
Germany
Boston

Planned to "pop into" the Prado, my favorite museum in the world—my hotel room only 50 yards away. Line when I arrived Saturday was, I'd judge, almost a quarter-mile long, and I don't think I'm exaggerating. Sunday, my last chance, was the same by about 11 a.m. So, on the advice of the concierge, adding a little of my usual conservatism, I got in the queue at 8 a.m. Sunday for a 9 a.m. opening. I'd guess I was about #150. The problem was that it was colder (about 25°F, -4°C) in Madrid than in VT; but I persisted, despite totally inadequate clothes. I'm used to Madrid at 95°F, +35°C, its summer #. Net was, it was, as always, worth it. (I once flew from SF to Madrid and back to see one picture here—Brueghel's "The Triumph of Death." I'm sure that'll draw Comments. Never done anything comparable before or since.) At any rate, above and below are a couple of crowd pics at 6 p.m. Sunday, a mix of tourists, including a ton of Japanese, but mostly locals, including a heavy youth component. Hats off to the Spanish for Museo Del Prado's just-completed renovation and for the popularity of the museum.

("Public" thanks for getting me through "all this" to, especially, Abbey Bishop, Nancy Paul, Klair Sirianna, Ivy Gustafson, the inimitable Harry "He Da Man" Rhoads; and Cathy Mosca, Erik Hansen, and Shelley Dolley for keeping the Blog up to date. A special debt of gratitude to the Interpreters here, there, and everywhere, whose job when I'm racing and colloquial, approximately always, is much harder than mine!)

• Uncategorized
• Comments Off