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Red Goldfish - Motivating Sales and Loyalty Through Shared Passion and Purpose

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Red Goldfish is the fifth color in the Goldfish Series of books. It focuses on how purpose is driving loyalty and becoming the ultimate differentiator in business.

Stan Phelps is the founder of PurpleGoldfish.com, a speaking and training consultancy that helps brands obtain customers that are up to four times as valuable as ordinary customers. He’s a contributor to Forbes and the author of Purple Goldfish, Green Goldfish, Golden Goldfish, Blue Goldfish, and Purple Goldfish - Service Edition. He works with senior leaders to focus on meaningful differentiation to win the hearts of both employees and customers. Driven by client objectives and inspired by bold vision, Stan creates custom keynotes, workshops, and programs that are memorable and on brand, inspiring businesses to become REMARK-able by design.

Contact Stan at stan@purplegoldfish.com or call 919.360.4702.

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Red Goldfish - Motivating Sales and Loyalty Through Shared Passion and Purpose

  1. 1. RED GOLDFISH Motivating Sales and Loyalty Through Shared Passion and Purpose By: Stan Phelps and Graeme Newell PurpleGoldfish.com
  2. 2. Red Goldfish is the fifth color in the Goldfish Series of Books
  3. 3. Purple Goldfish was about little things that improve customer experience and drive word of mouth 2012 2014 2013 2016 Green Goldfish was about little things that improve employee engagement and reinforce culture Golden Goldfish was about your vital few… little things for your top 20% of customers and employees Blue Goldfish was about technology, data, and analytics… little things to drive profits and prophets
  4. 4. RED GOLDFISH is about motivating sales and loyalty through shared passion and …
  5. 5. Why? Because business is evolving
  6. 6. Version 1.0 Shareholders BUSINESS is solely about maximizing shareholder value & profits The initial focus of a company was on WHAT:
  7. 7. “There is only one purpose of business and that is to only engage in activities designed to increase profits.” – Milton Friedman 1.0 Shareholders First
  8. 8. On the face of it, shareholder value is the dumbest idea in the world… Shareholder value is a result, not a strategy... Your main constituencies are your employees, your customers and your products " - Jack Welch, Former CEO of GE "
  9. 9. Version 2.0 Customers BUSINESS is about getting and keeping customers The next version saw profit as a result, a result of focusing on WHO:
  10. 10. 2.0 Customers First “Not so long ago companies assumed the purpose of a business is to make money. But that has proved as vacuous as saying the purpose of life is to eat...The purpose of a business is to create and keep a customer.” – Ted Levitt
  11. 11. There is only one boss. The customer. And he can fire everybody in the company from the chairman on down, simply by spending his money somewhere else.” - Sam Walton, Founder of Walmart “
  12. 12. Version 3.0 Employees BUSINESS starts with understanding how value is created. The value is created by employees. The next version focused on HOW :
  13. 13. 3.0 Employees First “You can’t have happy enthused customers without happy engaged employees.” – Ted Coine
  14. 14. “I came to see in my time at IBM that ‘culture’ isn’t just one aspect of the game – it is the game.” - Lou Gerstner, Former CEO of IBM
  15. 15. Employees First, Customers Second is a management approach. It is a philosophy, a set of ideas, a way of looking at strategy and competitive advantage.” - Vineet Nayar, Former CEO of HCL Technologies “
  16. 16. Version 4.0 Purpose BUSINESS should start with understanding why it exists The last and most enlightened version focuses on WHY :
  17. 17. 4.0 Purpose First “People don’t buy what you do, they buy WHY you do it.” – Simon Sinek
  18. 18. Exceptional firms have always been good at aligning their purpose with their execution, and as a result have enjoyed category leadership in sales and profits.” - John Kotter and James Heskett “
  19. 19. Purpose is important to employees According to PriceWaterhouseCoopers:
  20. 20. 86% 6 out of 7 employees would consider leaving an employer whose values no longer met their expectations
  21. 21. Purpose is important to customers According to Brand Fuel:
  22. 22. 86%All things being equal, 6 out of 7 customers will choose to do business with companies whose values mesh with their own
  23. 23. Purpose will continue to become more and more important in business
  24. 24. In 2020, 51% of the workforce will be millennials
  25. 25. A millennial has a different perspective about business They are shedding the old binary view of business.
  26. 26. They no longer see businesses as either…
  27. 27. F R or
  28. 28. The line between for profit and non profit is blurring
  29. 29. Business is evolving Smart companies will focus on both profit and purpose. Going forward, companies will only be seen as…
  30. 30. FOR PURPOSE
  31. 31. NOT FOR PURPOSE or
  32. 32. “Consumers want a better world, not just better widgets.“ – Simon Mainwaring
  33. 33. The New Bullseye
  34. 34. Being Good is Good Business Raj Sisodia looked at 28 companies in his book Firms of Endearment. The 18 publicly traded companies out of the 28 outperformed the S&P 500 index by a factor of 10.5 over the years 1996-2011. Source: https://hbr.org/2013/04/companies-that-practice-conscious-capitalism-perform
  35. 35. Being Good is Good Business Purposeful, value-driven companies outperform their counterparts by a factor of 12. Source: Book - Corporate Culture & Performance, by John Kotter and James Heskett
  36. 36. RED GOLDFISH are the little things your do to bring your purpose to life
  37. 37. Why the color RED and Why a GOLDFISH?
  38. 38. FIRST, WHY A GOLDFISH?
  39. 39. The Goldfish represents something small. It was inspired Kimpton, a chain of boutique hotels, Kimpton embodies the concept of doing the little something extra. Stay at any of the Kimpton properties and you’ll find: •  free gourmet coffee and fresh fruit in the lobby •  complimentary wine tasting in the afternoon •  pet-friendly accommodations My favorite perk is something a select number of the properties do for guests. Perhaps you are staying at a Kimpton for a few days, and you are getting lonely…
  40. 40. GIVE A LITTLE UNEXPECTED EXTRA Guppy Love Kimpton will give you a pet goldfish for your stay. They call it “Guppy Love.”
  41. 41. Average Goldfish = 3 inches A goldfish also represents something small. But all goldfish are not created equal. The world’s largest is…
  42. 42. Nearly 20 inches or 50 centimeters That’s nearly six times larger! How can there be such a difference. It turns out the growth of a goldfish is determined by five factors. The growth of your business is also affected by the same five things.
  43. 43. Five Factors #1. SIZE OF THE BOWL = MARKET #2. NUMBER OF OTHER GOLDFISH = COMPETITION #3. NUTRIENTS/CLOUDINESS OF THE WATER = ECONOMY #4. FIRST 120 DAYS OF LIFE = START-UP #5. GENETIC MAKEUP = DIFFERENTIATION Assuming you’ve already been in business for four months, what’s the only thing you have control over?
  44. 44. Five Factors #1. MARKET #2. COMPETITION #3. ECONOMY #4. FIRST 120 DAYS #5. DIFFERENTIATION The only thing you can have control over is how you differentiate. How you purposely stand out in a sea of sameness?
  45. 45. WHY THE COLORS? The first three colors were an ode to New Orleans and its most famous event…
  46. 46. Purple, Green, and Gold are the three official Mardi Gras colors
  47. 47. The “additional gift”or “to give more” LAGNIAPPE It was an ode to New Orleans because of one word… Mark Twain came to appreciate this one word and its meaning during his time in New Orleans. He wrote that it was “a word worth traveling to New Orleans to get.”
  48. 48. That one word is… LAGNIAPPE
  49. 49. means the “additional gift”or “to give more” LAGNIAPPE
  50. 50. Why RED? Our inspiration for RED comes from the (RED) movement. (RED) was created by Bono and Bobby Shriver. Launched in 2006, it’s purpose was to engage the private sector to raise funds in the fight against AIDS in Africa.
  51. 51. (RED) helped reinforce the simple idea that doing good is good business for both your customers and employees.
  52. 52. Purpose beyond Profit The branding agency Wolff Olins helped build the platform for (RED). They created a unique brand architecture that united participating businesses by literally multiplying their logos to the power (RED). Companies created select red products. A portion of the sales of those products were donated to (RED) chartiable programs. According to Wolff Olins, “the appeal of (RED) was clear: it connected these corporations with a purpose beyond their own profit.”
  53. 53. Prior to the launch of (RED), businesses had contributed just $5 million to the Global Fund in four years. In a decade since its inception, the private sector, through (RED), has contributed over $350 million. One hundred percent of the funds are invested in HIV/AIDS programs in Africa with a focus on countries with high prevalence of mother-to-child transmission of HIV.
  54. 54. In 2016, we started the Red Goldfish Project. We collected over 250 examples of how companies embrace purpose.
  55. 55. We found 8 Archetypes of RED GOLDFISH 1. The Protector 2. The Liberator 3. The Designer 4. The Guide 5. The Advocate 6. The Challenger 7. The Unifier 8. The Master
  56. 56. MASLOW The eight archetypes were inspired by Abraham Maslow and his hierarchy of needs.
  57. 57. 1. The Protector PURPOSE: Those who protect what’s important Type: Safety Category: Product Archetype: The Protector - Those who protect what is important Fiction: Superman, Captain John Miller (Saving Private Ryan) Non-Fiction: Al Gore, Ralph Nader, Gloria Steinem, Jimmy Carter Superman
  58. 58. 1. The Protector PURPOSE: Those who protect what’s important
  59. 59. Patagonia’s purpose is to build the best product, cause no unnecessary harm, use business to inspire and implement solutions to the environmental crisis. One of the popular red goldfish at Patagonia is a program that allows employees to take 2 months at full pay to work for environmental groups.
  60. 60. 2. The Liberator PURPOSE: Shake Off the Old, Reinvent a Broken System Type: Safety Category: Product Archetype: The Liberator – Reinvent a broken system Fiction: Jason Bourne, Lawrence of Arabia Non-Fiction: Moses, Richard Branson, Henry Ford, MLK Moses
  61. 61. 2. The Liberator PURPOSE: Shake Off the Old, Reinvent a Broken System
  62. 62. Harley Davidson’s purpose is to fulfill dreams of personal freedom. They help build communities of people who love the freedom of the open road. Harley has a program called the Riding Academy. As a red goldfish, they offer free rider training for military members and first responders.
  63. 63. 3. The Designer PURPOSE: Empowering through the creation of revolutionary products Type: Safety/Love Category: Product Archetype: The Designer – Empower through revolutionary products Fiction: Doc Brown, MacGyver, Willy Wonka Non-Fiction: Steve Jobs, Thomas Edison, James Dyson Doc Brown
  64. 64. 3. The Designer PURPOSE: Empowering through the creation of revolutionary products
  65. 65. Apple sought to make a contribution to the world by making tools for the mind that advance humankind. To quote Steve Jobs, “a bicycle for the mind.” A red goldfish that brings Apple’s purpose to life is when they celebrated how autistic children are able to communicate through the use of an iPad.
  66. 66. 4. The Guide PURPOSE: Facilitating Individual Progress Type: Love Category: Product to Purpose Archetype: The Guide – Facilitator of individual progress Fiction: Mr. Miyagi, Glinda Non-Fiction: Salman Kahn, Neil deGrasse Tyson, Seth Godin Mr. Miyagi
  67. 67. 4. The Guide PURPOSE: Facilitating Individual Progress
  68. 68. Google’s purpose is to create technology that improves people’s lives by organizing the world’s information and making it universally useful. A red goldfish from Google is 20% time. It allows engineers time to work on a personal project to improve or enhance a Google product.
  69. 69. PURPOSE: Those who stand up for a tribe 5. The Advocate Type: Love Category: Product to Purpose Archetype: The Advocate– Those who stand up for a tribe Fiction: Katniss Everdeen, Atticus Finch, Oskar Schindler Non-Fiction: Susan G. Komen, Sheryl Sandberg, Michelle Obama Katniss Everdeen
  70. 70. PURPOSE: Those who stand up for a tribe 5. The Advocate
  71. 71. Panera’s purpose is to help its customers consciously and eat deliciously. It aims to put a loaf of bread under every arm. Panera Cares is an example of a red goldfish. These are community cafes based on shared responsibility and raising awareness of food insecurity.
  72. 72. PURPOSE: Inspiring People to Transformative Action 6. The Challenger Type: Love/Esteem Category: Product to Purpose Archetype: The Challenger – Inspiring people to tranformative action Fiction: Maximus, Andy Dufresne Non-Fiction: Patton, Winston Churchill, Oprah, Tony Robbins Maximus
  73. 73. 6. The Challenger PURPOSE: Inspiring People to Transformative Action
  74. 74. Nike’s purpose is to bring innovation and inspiration to every athlete in the world. And if you have a body, you are an athlete. A red goldfish from Nike is its Nike+App. It allow you learn from professional athletes, get access to events, and support from trainers.
  75. 75. 7. The Unifier PURPOSE: Inspiring Individuals to Join a Movement Type: Esteem/Self Actualization Category: Purpose Archetype: The Commander – Inspire individual to join a movement Fiction: William Wallace Non-Fiction: Bono, Abraham Lincoln, Susan B. Anthony William Wallace
  76. 76. 6. The Heroic PURPOSE: 7. The Unifier PURPOSE: Inspiring Individuals to Join a Movement
  77. 77. Whole Foods Purpose is to inspire others to help co-create a world where everyone, our communities, and planet can flourish. A red goldfish is its stance on food labeling. They are requiring all of their products to indicate if they contain bioengineered organisms by 2018.
  78. 78. 8. The Master Type: Self Actualization Category: Purpose Archetype: The Master – Changing Lives and the World Fiction: Yoda, Gandhi Non-Fiction: Nelson Mandela, Elon Musk, Bill Gates PURPOSE: On a Mission to Change Lives and Improve the World Yoda
  79. 79. PURPOSE: On a Mission to Change Lives and Improve the World 8. The Master
  80. 80. Warby Parker’s purpose is sell affordable eyewear and give back to developing countries by providing eyewear to those who need it the most. A red goldfish from Warby is its “Buy a Pair, Give a Pair” program. The program trains men and women to give eye exams and sell glasses.
  81. 81. It is important to differentiate between a mission and a purpose:
  82. 82. “We do not have to be non-profits to make a difference in this world. We can be a for-profit that does things differently.“ – Rebecca Smith, Better Life Bags
  83. 83. What are your RED GOLDFISH?
  84. 84. READY TO THINK OUTSIDE THE BOWL?
  85. 85. on February 14th
  86. 86. Author: Stan Phelps stan@purplegoldfish.com +1.919.360.4702
  87. 87. Author: Graeme Newell gnewell@602communications.com +1.919.280.8224
  88. 88. Keynotes and Workshops +1.919.360.4702 speaking@purplegoldfish.com LITTLE THINGS CAN MAKE THE BIGGEST DIFFERENCE

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