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jerryking : quizzes   4

Surprise business result? Explore whether it is a hidden opportunity
June 18, 2007 | G&M pg. B8 | George Stalk Jr.

What does it take to capitalize on anomalies systematically?

For starters, you need to have metrics and information systems that are sufficiently refined to identify anomalies in the first place. Knowing the average margins and market share isn’t enough; look at the entire range of outcomes—across customers, geographies, products, and the like. This allows you to surface out-of-the-ordinary results for closer inspection.

The next step is to separate wheat from chaff: those anomalies that signal a potential business opportunity from those that are merely one-time events. The key is to examine the pattern of unusual performance over time. The customer who consistently buys high volumes or the market that outperforms the average year after year are, by definition, not random. Is there an underlying cause that can be identified and then replicated elsewhere?

Finally, you need to understand the precise mechanisms that animate the anomalies you identify. Why is the unusual pattern of performance happening? What specific features of the product or the local environment or the customer experience are bringing it about? Don’t accept the usual first-order explanations. It’s not enough to know that a particular customer has been loyal for years; find out precisely why.

It’s up to senior management to create the forum for asking why and to persist until the question is answered with genuine insight.
metrics  George_Stalk_Jr.  BCG  anomalies  growth  opportunities  customer_insights  surprises  systematic_approaches  quizzes  ratios  pattern_recognition  insights  questions  first-order  second-order  OPMA  Waudware  curiosity  new_businesses  one-time_events  signals  noise  overlooked_opportunities  latent  hidden  averages  information_systems  assessments_&_evaluations  randomness  5_W’s 
january 2013 by jerryking
You Should Have Asked - The Art of Powerful Conversation
No matter what you want from life you need people. It’s people who lead us to our next big adventure, dream job, important sale, long lasting business relationships, and the incredible ideas that shape our lives. They choose to do these things based on the way we make them feel one powerful conversation at a time. After speaking with you, do people feel interesting, important and appreciated? Do they feel connected, empowered and enlightened? Or was it just another moment where two people exchanged words, while missing out on the opportunity of what comes from a blazing dialogue? You Should Have Asked – The Art of Powerful Conversation will transform your daily interactions into moments that will give you greater wisdom and deeper meaning, while building exciting relationships with the people in both your professional and personal life.

Give eye contact. make other people feel as though they are being heard.
Being vulnerable. Telling people how you truly feel. being authentic encourages other people to meet you half-way. This opens the door to powerful conversations (opportunity to talk about something truly meaningful).
(1) Discover something new about the individual.
(2) Allow the person to share something meaningful about their life.
(3) Find out what you have in common.
(4) Make it memorable to that person.
(5) Make yourself likeable and have fun.

ENTER STAGE LEFT:PART TWO QUESTIONING
Part Two Questioning
is the quickest way to get to the core of who a person truly is.It’s the easiest and one of the most effective things you can do to create powerful conversations. Are you ready for the secret? All you have to do is ask questions on the answers you have just been given.

These questions are normal and in fact I use them myself to start a conversation. The problem arrives about one second after the person has answered the Stock Question. After asking a Stock Question, most people make one of two mistakes. The first mistake made is they ask a mediocre follow-up question. The second mistake made is they ask a brand new question entirely.The smallest shift can make the biggest difference. Talk to women about the female orgasm and they will confirm this to be true!
conversations  Communicating_&_Connecting  mistakes  questions  quizzes  second-order  small_talk  5_W’s  Stuart_Knight  small_moves  follow-up_questions 
november 2012 by jerryking
A dizzying world of insight lurks beyond the averages
Aug 27, 2007 | The Globe & Mail pg. B.6 | by George
Stalk Jr. "A gloriously rich world is hidden from us by "averages." We
manage our lives and our businesses with averages....But as soon as we
choose an average on which to make a decision, we cut ourselves off from
more nuanced information that might lead to a better
decision....drill[ing] down behind the averages can yield rich insights.
What businesses are we in? Where are the opportunities to raise
prices? How fast can we grow this business? How much time does it
really take us to do things? Other intriguing, insightful questions
include: How much money does it take to run this business? Just what do
our customers want? Where do we make our money in this business? Who
are our real competitors? Do our averages conceal sources of
competitive advantage? Looking behind the averages often yields new
strategic and operational paradigms that can help make better decisions
and ensure they are acted upon daily.
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identify anomalies in the first place. Knowing the average margins and market share isn’t enough; look at the entire range of outcomes—across customers, geographies, products, and the like. This allows you to surface out-of-the-ordinary results for closer inspection. (June 18, 2007 | G&M pg. B8 | George Stalk Jr).
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base_rates  George_Stalk_Jr.  strategic_thinking  insights  BCG  management_consulting  competitive_advantage  questions  extremes  laggards  decision_making  anomalies  leading-edge  quizzes  ratios  second-order  averages  5_W’s 
october 2009 by jerryking
Rage against the routine
September 2007 | From PROFIT magazine | By Rick Spence

We could all use some creative renewal and time management makeover.
Take a different route to work each day. Take a night course in
marketing, design, art history, German, creative writing or the
Renaissance. Read Seth Godin’s blog (sethgodin.typepad.com) for a crash
course in the changing worlds of strategy and marketing, complete with
purple cows, big red fezzes and ideaviruses. Buy an iPod and ask friends
to share their music with you. Embrace quiet. Learn to see and listen
with heightened senses. Say “Tell me more” more often. And take time to
ask two questions: “Why?” and “Why not?”.
5_W’s  boredom  creative_renewal  conversations  creativity  ideaviruses  innovation  inspiration  novel  questions  quizzes  Rick_Spence  routines  Seth_Godin  time-management  timeouts 
april 2009 by jerryking

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