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Tough Times Show

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Book and show about how to succeed in tough times.

Publié dans : Formation, Voyages
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Tough Times Show

  1. 1. October 20, 2008
  2. 2. October 13, 2008
  3. 3. Depression
  4. 4. Today
  5. 5. Major companies hit by Tough Times • • Bear Stearns Alcoa • • Lehman Brothers State Governments • • AIG Universities • • Merrill Lynch Circuit City • • GM Steel Companies
  6. 6. What’s the solution?
  7. 7. Nine Strategies for Business Success • Adaptability • Loyalty • Collaboration • Niche Marketing • Customer Service • Perseverance • Diversification • Planning • Growth
  8. 8. Marty Beattie Don Gallegos Steve Swasey Marty’s First Stop King Soopers Netflix Supermarkets Jack Cummings and Allyson Myers Stew Leonard, Jr. Bernier Mayo Lake Champlain Stew Leonard’s Chocolates St. Johnsbury Academy Supermarkets
  9. 9. Bernier Mayo Headmaster Emeritus St. Johnsbury Academy
  10. 10. Here’s the dilemma St. Johnsbury Academy faced
  11. 11. “The board had already closed the girls’ half of our boarding department. We had boys remaining in one dorm. The question was when I came in 1981: Should we close the boarding school?”
  12. 12. “The board had already closed the girls’ half of our boarding department. We had boys remaining in one dorm. The question was when I came in 1981: Should we close the boarding school?”
  13. 13. Making a decision to look for students in a new market
  14. 14. “We decided we would do what only one other school at the time was doing, Cushing Academy, and that was recruiting overseas, especially Asia. We decided to do that and the board bought it. The board has always been enormously supportive. And they bought our proposal that we try to crack the international market and frankly our private school colleagues all over northern New England looked down their noses at us because nobody wanted to do that.”
  15. 15. “We decided we would do what only one other school at the time was doing, Cushing Academy, and that was recruiting overseas, especially Asia. We decided to do that and the board bought it. The board has always been enormously supportive. And they bought our proposal that we try to crack the international market and frankly our private school colleagues all over northern New England looked down their noses at us because nobody wanted to do that.”
  16. 16. Jack Cummings Special Assistant to the Headmaster, St. Johnsbury Academy
  17. 17. “The growth in the 80s was actually very quick. We went from about 30 students to 125 students in about five years.”
  18. 18. “The growth in the 80s was actually very quick. We went from about 30 students to 125 students in about five years.”
  19. 19. Village Grocery and Deli Waitsfield,Vermont Troy Kingsbury, owner
  20. 20. Troy Kingsbury decided to start a deer weigh-in to provide a reason for people to come after foliage season.
  21. 21. “We take a digital picture of every deer and we post it on our computer and put in on a slide show. I wouldn’t post it online because then the hunters could be at home and they could look at it. We only have it on our computer and the hunters say, ‘Did you see that buck that Jim got?’ They come in here and you have it going on a five or ten second delay and that keeps them in the deli where the food’s cooking and usually they buy a beer or a breakfast sandwich.”
  22. 22. “We take a digital picture of every deer and we post it on our computer and put in on a slide show. I wouldn’t post it online because then the hunters could be at home and they could look at it. We only have it on our computer and the hunters say, ‘Did you see that buck that Jim got?’ They come in here and you have it going on a five or ten second delay and that keeps them in the deli where the food’s cooking and usually they buy a beer or a breakfast sandwich.”
  23. 23. Troy also helped the town start a program to have free bicycle transportation in town.
  24. 24. “By next year our goal is to have 25 bikes with bike racks throughout the surrounding village here where we provide free bikes for people to use to get around town.”
  25. 25. Jim Weddle CEO Edward Jones
  26. 26. Edward Jones has more brokerage offices than any other brokerage firm
  27. 27. Edward Jones intends to grow through the current recession
  28. 28. How will Edward Jones do it?
  29. 29. “The stock market and bond markets are offering us a tremendous opportunity right now. It’s not a reason to panic or to be overly concerned. The activities of the market over the last six months or so you could call it a 20 percent off sale. Good heavens to Betsy. Quality investments are available for a discount price and for people who can be encouraged to think with their heads instead of their hearts, they’re going to be able to take advantage of this. And that’s what we try to do. That’s what we always try to do. You are going to have these opportunities from time to time.You are just going to have to be ready to take advantage of them.”
  30. 30. “The stock market and bond markets are offering us a tremendous opportunity right now. It’s not a reason to panic or to be overly concerned. The activities of the market over the last six months or so you could call it a 20 percent off sale. Good heavens to Betsy. Quality investments are available for a discount price and for people who can be encouraged to think with their heads instead of their hearts, they’re going to be able to take advantage of this. And that’s what we try to do. That’s what we always try to do. You are going to have these opportunities from time to time.You are just going to have to be ready to take advantage of them.”
  31. 31. Edward Jones’ Advantages • Only one broker per office • Don’t encourage customers to take on risky investments such as options or derivatives • Existing brokers train new brokers
  32. 32. Marty Beattie Owner Marty’s First Stop Danville, Vermont
  33. 33. Marty’s response to tough times has been to adjust his buying to respond to customer demand.
  34. 34. “During the winter we try to run a lot of in-store specials with different grocery items. It depends on your wholesale supplier that you buy from what they offer to you. They’re all running quite a few deals right now. They’re in the same boat. They want to sell a lot of product also.”
  35. 35. “During the winter we try to run a lot of in-store specials with different grocery items. It depends on your wholesale supplier that you buy from what they offer to you. They’re all running quite a few deals right now. They’re in the same boat. They want to sell a lot of product also.”
  36. 36. Marty also tries to use all his stores’ products in a creative fashion.
  37. 37. “I grew up on a farm with a large family and we were taught how to cook and how to take advantage of a lot of things. I’ve been very fortunate that way and know how to make a lot of soups and lunch specials. So, the consumer that comes in to buy the tomato is getting the nice looking tomato and the green peppers are in your chili. If a steak has been around for a day it looks great in beef stew.”
  38. 38. “I grew up on a farm with a large family and we were taught how to cook and how to take advantage of a lot of things. I’ve been very fortunate that way and know how to make a lot of soups and lunch specials. So, the consumer that comes in to buy the tomato is getting the nice looking tomato and the green peppers are in your chili. If a steak has been around for a day it looks great in beef stew.”
  39. 39. Jay Parkinson, MD
  40. 40. Jay Parkinson doesn’t accept insurance. He sees people in their home for the first visit and then communicates through video visits and email.
  41. 41. “I started my practice with less than $1,500. I didn’t have to be a slave to anyone. I get to visit people in their home. I get to have a really good vibe. I have no overhead, hardly whatsoever. I charge $150 bucks and $140 of that is in my pocket.”
  42. 42. “I started my practice with less than $1,500. I didn’t have to be a slave to anyone. I get to visit people in their home. I get to have a really good vibe. I have no overhead, hardly whatsoever. I charge $150 bucks and $140 of that is in my pocket.”
  43. 43. Parkinson foresees a future in which most patient care will move out of the doctor’s office.
  44. 44. “It’s just natural for my generation and younger to communicate via text or video online. That’s hopefully going to be the wave of the future. ”
  45. 45. “It’s just natural for my generation and younger to communicate via text or video online. That’s hopefully going to be the wave of the future. ”
  46. 46. Adam Burke Senior Vice President Customer Loyalty Hilton Hotels Corporation
  47. 47. With 8 million active customers, Hilton HHonors program is one of the most successful loyalty programs in the U.S.
  48. 48. “We’re the only ones that allow you to earn both points and miles for the same stay among the major programs. So you don’t have to trade off between one currency or the other. And every time we research it we find far and away that is the most compelling earnings proposition you can give someone.”
  49. 49. “We’re the only ones that allow you to earn both points and miles for the same stay among the major programs. So you don’t have to trade off between one currency or the other. And every time we research it we find far and away that is the most compelling earnings proposition you can give someone.”
  50. 50. “We may decide in a down market as we have in the past to be more generous about how we retain people in the VIP tiers because we recognize that they may not be staying as frequently and if we apply the same criteria we may lose some of that loyalty.”
  51. 51. “We may decide in a down market as we have in the past to be more generous about how we retain people in the VIP tiers because we recognize that they may not be staying as frequently and if we apply the same criteria we may lose some of that loyalty.”
  52. 52. Warren Buffet Chairman, Berkshire Hathaway Inc.
  53. 53. Umang Gupta CEO Keynote
  54. 54. After the Internet bubble burst, Keynote had two choices: grow or go out of business.
  55. 55. The company had a great sales force and $40 million in cash, but was losing $20 million a year.
  56. 56. Gupta decided other Internet companies in Keynote’s field were cheap and decided to grow by acquisition.
  57. 57. “Many of these younger dot-coms that were funded well were now left to twist in the wind. Their revenues were going down and their prices were going down. We ended up essentially buying about 15 companies over the last seven years and of those 15 companies, 10 of those we bought during the depths of the tech depression.”
  58. 58. “Many of these younger dot-coms that were funded well were now left to twist in the wind. Their revenues were going down and their prices were going down. We ended up essentially buying about 15 companies over the last seven years and of those 15 companies, 10 of those we bought during the depths of the tech depression.”
  59. 59. Classic Designs by Matthew Burak, located in St. Johnsbury, Vermont, has a niche product: table legs
  60. 60. Mark Desrochers Matthew Burak Which it sells through a catalog and on the Internet:
  61. 61. Allyson Myers Director of Sales and Marketing Lake Champlain Chocolates
  62. 62. “Generally, we’ve found chocolate to be fairly recession-proof because it makes people feel better, makes them happy. There’s even some scientific studies that have show the health benefits of chocolate which has been great in the last couple of years. People feel good and feel chocolate is a good part of their diet.”
  63. 63. “Generally, we’ve found chocolate to be fairly recession-proof because it makes people feel better, makes them happy. There’s even some scientific studies that have show the health benefits of chocolate which has been great in the last couple of years. People feel good and feel chocolate is a good part of their diet.”
  64. 64. “They make cut back in other areas but they will probably still make room for an inexpensive piece of chocolate. We have seen a shift away from people buying bigger gift boxes of chocolates to smaller package sizes. They are changing their buying behavior but they still are buying.”
  65. 65. “They make cut back in other areas but they will probably still make room for an inexpensive piece of chocolate. We have seen a shift away from people buying bigger gift boxes of chocolates to smaller package sizes. They are changing their buying behavior but they still are buying.”
  66. 66. Steve Swasey Director of Communications Netflix
  67. 67. Netflix had to survive challenges from Wal-Mart and Blockbuster
  68. 68. Here’s how Netflix was able to compete with Wal-Mart. . .
  69. 69. “Wal-Mart is a great sell- through company but they’re not a great rental company, so they never put all the wind behind their arrow and that was our extraordinary good luck.”
  70. 70. “Wal-Mart is a great sell- through company but they’re not a great rental company, so they never put all the wind behind their arrow and that was our extraordinary good luck.”
  71. 71. And here’s how Netflix competed against Blockbuster. . .
  72. 72. “We do one thing extraordinarily well and that’s all we focus on. Netflix changed the way Americans rent movies. Before Netflix you had to go to a video store to rent the movies, you had to pay late fees, which were punitive, and you had pretty crummy service.”
  73. 73. “We do one thing extraordinarily well and that’s all we focus on. Netflix changed the way Americans rent movies. Before Netflix you had to go to a video store to rent the movies, you had to pay late fees, which were punitive, and you had pretty crummy service.”
  74. 74. Reasons for Netflix Success • Netflix offers 90,000 titles online. A typical video store has 3,000 titles • Fast turnaround - return movies today, receive new ones in two days. Or order movies through your computer and view them immediately on your television or computer • No late fees • Netflix will recommend movies for you
  75. 75. Don Gallegos President King Soopers Supermarket 15,000 employees Denver, Colorado
  76. 76. How do you compete against a discounter like Wal-Mart?
  77. 77. “Wal-Mart gets high marks for service. Quite frankly, I don’t think it’s that good. Now, I’m probably jealous, because they do a ton of business. But I got a store that I live near, when Wal-Mart came in about a half-mile away, our store was doing about $900,000 a week. We’re doing $800,000 now, so we lost $100,000. But we’re still doing $800,000. Don’t you think there’s a reason we’re still doing $800,000? It isn’t price. But we do special orders, we don’t ask questions on refunds, you don’t have to show your receipt. Wal-Mart, try to take something back. You got to show a picture of your first born, for god’s sake. And people do it!”
  78. 78. “Wal-Mart gets high marks for service. Quite frankly, I don’t think it’s that good. Now, I’m probably jealous, because they do a ton of business. But I got a store that I live near, when Wal-Mart came in about a half-mile away, our store was doing about $900,000 a week. We’re doing $800,000 now, so we lost $100,000. But we’re still doing $800,000. Don’t you think there’s a reason we’re still doing $800,000? It isn’t price. But we do special orders, we don’t ask questions on refunds, you don’t have to show your receipt. Wal-Mart, try to take something back. You got to show a picture of your first born, for god’s sake. And people do it!”
  79. 79. Paula Crowley Lou Sachs CEO President Anchor Health Properties
  80. 80. They persevered through two years when they took no salary, trying to find new opportunities.
  81. 81. “Their predominate clients were health care, mostly hospitals, and almost by osmosis, by being there and hanging out with them we became introduced to the hospital business. I can remember one day just thinking that there is so little interesting work being done in health care what if we took what we had been doing for all of our development years in retail and think about how we might apply it to health care.”
  82. 82. “Their predominate clients were health care, mostly hospitals, and almost by osmosis, by being there and hanging out with them we became introduced to the hospital business. I can remember one day just thinking that there is so little interesting work being done in health care what if we took what we had been doing for all of our development years in retail and think about how we might apply it to health care.”
  83. 83. Today, Anchor Health Properties runs some of the most progressive Wellness Centers in the country Pavilion at Doylestown Hospital
  84. 84. Stew Leonard, Jr. Owner Stew Leonard’s Supermarkets
  85. 85. “In 1989 my son drowned in a pool accident. He was two years old. And that was a devastating thing for my wife and I and our whole family. And we had to work through that tough time. And then in 1993 my father went away to prison for tax evasion and it really rattled the whole business. It was a terrible blow. Not only a blow to our business but a blow to our image and everything.”
  86. 86. “In 1989 my son drowned in a pool accident. He was two years old. And that was a devastating thing for my wife and I and our whole family. And we had to work through that tough time. And then in 1993 my father went away to prison for tax evasion and it really rattled the whole business. It was a terrible blow. Not only a blow to our business but a blow to our image and everything.”
  87. 87. “I don’t think I could have gotten through that if I hadn’t been through the tragedy before that of losing my son. Having a tough situation in a business, there are worse things. And I’ve experienced those worse things.”
  88. 88. “I don’t think I could have gotten through that if I hadn’t been through the tragedy before that of losing my son. Having a tough situation in a business, there are worse things. And I’ve experienced those worse things.”
  89. 89. “I was able to keep my attitude up and my energy up. I said, ‘We can get through this thing. We can overcome this thing.’ We are now number 26 in the Fortune Best 100 Companies to Work For. I look back on those days and say, ‘Boy, am I glad I didn’t throw in the towel or quit or buckle under that pressure.’”
  90. 90. “I was able to keep my attitude up and my energy up. I said, ‘We can get through this thing. We can overcome this thing.’ We are now number 26 in the Fortune Best 100 Companies to Work For. I look back on those days and say, ‘Boy, am I glad I didn’t throw in the towel or quit or buckle under that pressure.’”
  91. 91. Joseph C. Thompson Director MASS MoCA
  92. 92. North Adams, Massachusetts was a former mill town that had fallen onto hard times by the 1970s.
  93. 93. The town had several hundred thousand square feet of industrial space with no tenants.
  94. 94. “It was not as if everybody were jumping for joy at the idea of having contemporary art in a proud, former mill town. If you would have asked anybody on the street what they wanted to happen, they would have said ‘Give me a paper clip manufacturing company.’ There was a 150-year tradition of North Adams as a single company mill town.”
  95. 95. “It was not as if everybody were jumping for joy at the idea of having contemporary art in a proud, former mill town. If you would have asked anybody on the street what they wanted to happen, they would have said ‘Give me a paper clip manufacturing company.’ There was a 150-year tradition of North Adams as a single company mill town.”
  96. 96. MASS MoCA received a pledge of $35 million from Massachusetts Governor Michael Dukakis...
  97. 97. But the new Governor William Weld rescinded the promise.
  98. 98. “When Weld took office his quote to Time Magazine was ‘over his dead body’ would the state of Massachusetts release $35 million to the Museum of Contemporary Art at a time of economic challenge.”
  99. 99. “When Weld took office his quote to Time Magazine was ‘over his dead body’ would the state of Massachusetts release $35 million to the Museum of Contemporary Art at a time of economic challenge.”
  100. 100. By recruiting almost 700 local businesses to contribute to the museum, MASS MoCA eventually convinced Governor Weld to release $18 million.
  101. 101. Today, MASS MoCA is one of the most successful museums in New England.
  102. 102. Hardwick, Vermont Uniting around local food
  103. 103. Building an agricultural- based economy • Pete Johnson, Pete’s Greens • Tom Stearns, High Mowing Seeds • Mateo and Andy Kehler, Jasper Hill Farm • Kristina Michelsen, Claire’s Restaurant • Andrew Meyer,Vermont Soy
  104. 104. Tom Stearns High Mowing Seeds and Center for Agricultural Economy Hardwick, Vermont
  105. 105. “In the last ten years there’s been a big wave, and especially the last three years, a major increase in the number of value-added agricultural processors and farm-based operations. To the point where there’s been about 100 new jobs added in the last three years.”
  106. 106. “In the last ten years there’s been a big wave, and especially the last three years, a major increase in the number of value-added agricultural processors and farm-based operations. To the point where there’s been about 100 new jobs added in the last three years.”
  107. 107. “Don’t underestimate the power of working together in whatever level of formality, but working together with your peers. It has been literally transformative for what we are doing up here.”
  108. 108. “Don’t underestimate the power of working together in whatever level of formality, but working together with your peers. It has been literally transformative for what we are doing up here.”
  109. 109. “All of us have realized that by working together we will be more successful as businesses.”
  110. 110. Nine Strategies of Business Success • Adaptability • Loyalty • Collaboration • Niche Marketing • Customer Service • Perseverance • Diversification • Planning • Growth
  111. 111. Thanks to the Vermont Grocers’ Association!
  112. 112. Thanks for coming!

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