dispatches from the new world of work

The Only Thing You Need to Know

I really hate the following phrase: "the only thing you need to know." Hence, I want to talk to you about ... the only thing you need to know.

The formulation that follows came from a speech I gave in Shanghai a couple of weeks ago. I was part of a program that included consultants, economists, etc. For better or for worse, I stuck to character and began by trashing ... consultants and economists. I said, "In the next several hours you will hear many prescriptions for dealing with today's shaky times—and preparing for China's future. Many of those prescriptions will involve the role of the government in the economy, the sort of help that big firms and smaller firms need. Despite my rather snide remarks, I will in fact find many of the suggestions on the money—figuratively and literally."

I meant every word of it.

But then I added that my role was to simplify—to boldly, and perhaps foolheartedly, assert that there was only One Thing that mattered in the long run to the health of the enterprise—and, indeed, the economy as a whole.

The quality of the work force.
(And, perhaps 1.5, the devotion of the leadership to developing that work force to the utmost extent of its talents and prospective talents.)

I said "there is only one 'winning formula.'"
People who are 100%, everybody, no exceptions, Receptionist to EVP R&D:

Committed.
Engaged.
Growing.
Learning.
Fearless (unfailingly encouraged to try new things).
Respected.
Trusted.
Appreciated.
Independent-minded.
Team focused.
Focused themselves, even when fresh caught, on the growth of others
Passionate about their work, their mates, and their customers.
Informed.
Open (fanatic about sharing).
Caring.
Committed to EXCELLENCE in everything they do.

And, in turn, that demands 100% "servant leaders," to shamelessly steal from Robert Greenleaf, who are 100% devoted—as Priority & Job #1—to developing people, in good times or bad—100% of people—who are:

I explained that, in my opinion:

This applies throughout the world—in America and Brazil and Lithuania and Estonia and Korea. And in China, as it pursues a future obviously more and more dependent on incorporating intellectual capital into its economic portfolio (already China bridles at being assigned a role as "the world's workshop").

This applies to 100% of people in the workforce. As in a football team or symphony, there are no "bit players."

This applies in every industry and every pricepoint strategy therein. In Brazil, Magazine Luiza, the country's Wal*Mart, is invariably near the top of the "Best Companies to Work For" list, just as Wegmans, the regional grocer, and the Container Store are at the head of the pack, peers of Google and Amgen, on the American "Best" list.

This applies to companies of all sizes—from microscopic to humongous.

This applies in good times—and especially bad times. Engaged workers and an unwavering Commitment to EXCELLENCE will not make problems in the market evaporate, but they, nonetheless, represent the best chance of weathering the storm and coming out stronger on the back end.

Strategy is important.
Systems are important.
Financing is important.

But this is ... The Only Thing You Need to Know.
I'd bet my life on it.
(I guess I have.)

Tom Peters posted this on 05/11/09.

Comments

Nice list but I'd add one point: Exude integrity.

(This is a bit of an issue over here in the UK at the moment with an appalling scandal about the widespread milking of the expenses system by an extraordinarily large number of MP's from all parties.)

Posted by Mark JF at May 11, 2009 12:55 PM

Reductionism sucks. Or something longer :-)

Mark

Posted by Stress Training Mark at May 11, 2009 1:10 PM

Anyone else notice a pattern in Tom's blog posts? First, he lays out the principle in self/personal terms. Then, the post essentially stating "encourage your people to do so and evaluate them on it."

Personal level first. Be a student of it. Do it. Model it. Before you expect others to do it.

I don't think this pattern is just by sheer luck. A good leader doesn't demand or expect anything from his subordinates, or evaluate or discipline them over it if he hasn't shown willingness to live up to the same standards.

Leadership by example. Good for business. Good for life. "You must be the change you wish to see in the world." Gandhi said it best.

Posted by Dan Gunter at May 11, 2009 1:57 PM

Surely strategy, systems and financing are only about people anyway. ANYTHING to do with ‘excellence’ is about people. What surprises me most is that anyone might be surprised by what Tom is saying.

Posted by Trevor Gay at May 11, 2009 4:34 PM

Trevor - perhaps it's not so much that everyone will be surprised about what it is, but only that they will inevitable find it so difficult to do.

Posted by Duncan Bucknell at May 12, 2009 7:03 AM

Agreed totally Duncan - thanks very much for qualifying what I said. Implementation is what it’s all about. Role model behaviour at the top of organisations is what we should look for. Look at our politicians in the UK at the moment for examples of how not to do things. It’s irritating the hell out of me that I keep hearing our illustrious (not) MP’s saying 'We did not break the rules." Amazing that these allegedly intelligent men and woman cannot see how they broke ALL THE RULES of integrity as leaders and role models. My main point is that I agree 100% with Tom Peters on 'people.' Excellence (to me anyway) is simply and only about PEOPLE. I don't see how we we can ever separate 'systems', 'finance' and 'process' from 'people.' People are all we have.

Posted by Trevor Gay at May 12, 2009 7:42 AM

The list is whole. Thank you, TP.

Posted by Judith Ellis at May 12, 2009 9:29 AM

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Does excellence equate to OPTIMUM? Does irrelevant commensurate with inconsequential and/or ineffectual? EXCELLENCE IS A GREAT WORD TO ME. Though, I was indoctrinated (not brain wash here) to become more ACCURATE by a rocket science (sic). GREAT not, OPTIMUM. Mediocre not, INCONSEQUENTIAL. In the mean time, management is becoming hugely scientific.

My ongoing research drove to find a lucid consideration: THE DOUBLING AND DOUBLING AND DOUBLING OF THE WORLD’S KNOWLEDGE BASE! We continue to create new ideas to the world’s storehouse of knowledge. Humans have been adding to their total knowledge (ever-progression into a larger but also more dramatic, subtle and savvy omniscience) steadfastly over the centuries, and the amount of knowledge we create is over-geometrically multiplying (at perpetually increasing folds) at incredible speed (forget maximum Century-20 standards). Beginning with the amount of knowledge in the known world at the time of Christ, studies have estimated that the first doubling of knowledge took place about 1700 A.D. The second doubling occurred around the year 1900. It is estimated today that the world’s knowledge base will double again by 2010 and again by 2013.

Posted by Andres Agostini (Andy) at May 22, 2009 9:20 PM