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Barron's Magazine's Top Advisory Teams Summit_July 17, 2013

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Barron's Magazine's Top Advisory Teams Summit_July 17, 2013

  1. 1. ZAPPOS.COM DELIVERING HAPPINESS DOWNTOWN PROJECT
  2. 2. Downtown Project Collisions Community Co-Learning
  3. 3. Slide 3
  4. 4. Slide 4 A Little About Me (Tony) • 1994-1995: Pizza business in college
  5. 5. Slide 5 A Little About Me (Tony) • 1994-1995: Pizza business in college • 1996-1998: LinkExchange (online advertising) Sold to Microsoft for $265 million
  6. 6. Slide 6 A Little About Me (Tony) • 1994-1995: Pizza business in college • 1996-1998: LinkExchange (online advertising) Sold to Microsoft for $265 million • 1999: Venture Frogs (investment fund) - Invested in Zappos.com, Inc.
  7. 7. Slide 7 A Little About Me (Tony) • 1994-1995: Pizza business in college • 1996-1998: LinkExchange (online advertising) Sold to Microsoft for $265 million • 1999: Venture Frogs (investment fund) - Invested in Zappos.com, Inc. • 1999-Today: Zappos.com, Inc.
  8. 8. Slide 8 A Little About Me (Tony) • 1994-1995: Pizza business in college • 1996-1998: LinkExchange (online advertising) Sold to Microsoft for $265 million • 1999: Venture Frogs (investment fund) - Invested in Zappos.com, Inc. • 1999-Today: Zappos.com, Inc. • 2009: Amazon acquires Zappos for $1.2 billion • 2010: NYT bestseller Delivering Happiness published
  9. 9. Slide 9 The Power of WOW ‘01 ‘02 ‘06‘03 ‘04 ‘05 ‘07‘00 ‘08 GrossSales$MM $1,000 800 600 400 200
  10. 10. Slide 10 Customer Experience  What do customers expect?  What do customers actually experience?  What emotions do customers feel?  What stories do they tell their friends?  How can culture create more stories and memories?
  11. 11. Slide 11 the #1 priority
  12. 12. Slide 12 the #1 priority CULTURE
  13. 13. Slide 13 the #1 priority CULTURE 4 weeks of training Culture book $4000 offer Hiring for culture
  14. 14. Slide 14 Clothing, Customer Service, Culture Customer Service Clothing Culture
  15. 15. Slide 15 Clothing
  16. 16. Slide 16 Customer Service
  17. 17. Slide 17 Culture
  18. 18. Slide 18 Clothing, Customer Service, Culture Customer Service Clothing Culture
  19. 19. Slide 19 Delivering Happiness (customers and employees) “People will forget what you said. People will forget what you did. But people will never forget how you made them feel.” -Maya Angelou
  20. 20. Slide 20 Building Great
  21. 21. Slide 21 Ingredient #1
  22. 22. Slide 22 CULTURE “Committable Core Values” Don’t make your core values just a meaningless plaque on the wall…
  23. 23. Slide 23 Example: Core Values 1. Deliver WOW Through Service 2. Embrace and Drive Change 3. Create Fun and a Little Weirdness 4. Be Adventurous, Creative, and Open-Minded 5. Pursue Growth and Learning 6. Build Open and Honest Relationships With Communication 7. Build a Positive Team and Family Spirit 8. Do More with Less 9. Be Passionate and Determined 10. Be Humble
  24. 24. Slide 24 COMMIT TO TRANSPARENCY “Be real and you have nothing to fear” Your culture is your brand Don’t try to be someone you are not Parades at Zappos…
  25. 25. Slide 25 “That’s great…
  26. 26. Slide 26 “That’s great… but it would never work at my company…”
  27. 27. Slide 27 ALIGNMENT It doesn’t matter what your core values are… as long as you commit to them.
  28. 28. Slide 28 Ingredient #2
  29. 29. Slide 29 VISION “Whatever you’re thinking, think bigger.” Does the vision have meaning? Chase the vision, not the money…
  30. 30. Slide 30 VISION “Don’t chase the paper, chase the dream.” Sean Combs aka “Puff Daddy” to rapper Biggie Smalls aka “Notorious B.I.G.” in Notorious
  31. 31. Slide 31 ENTREPRENEURS: “What would you be passionate about doing for 10 years even if you never made a dime?”
  32. 32. Slide 32 EMPLOYEES: What’s the larger vision and greater purpose in their work beyond money or profits?
  33. 33. Slide 33 MOTIVATION
  34. 34. Slide 34 MOTIVATION vs. INSPIRATION
  35. 35. Slide 35 Vision & Culture inspire Passion & Purpose
  36. 36. Slide 36 Evolving vision and brand at Zappos.com  1999 Selection  2003 Customer Service  2005 Culture and core values as our platform  2007 Personal Emotional Connection  2009 Delivering Happiness
  37. 37. Slide 37 Questions  Where does the story begin?  Where does the story end?  How do you reinforce the good memories?  What were the emotions, positive and negative?  How can you create more stories and memories?
  38. 38. Slide 38 What’s your business?  You’re not in the _______ business.  Cirque du Soleil is not in the circus business.  You’re in the experience and emotions business.  You’re in the stories and memories business.  Think bigger.
  39. 39. Slide 39 Delivering Happiness - What’s Next? Clothing Customer Service Company Culture “a great brand is… ______”
  40. 40. Slide 40 Zappos.com http://media.glassdoor.com/m/7b/2c/00/f6/entrance-to-the-zappos-com-headquarter-office-in- henderson-nv-photo-by.jpg
  41. 41. Slide 41 Las Vegas City Hall http://brandonwiegand.com/wp-content/uploads/2010/11/Zappos-City-Hall.jpg
  42. 42. Slide 42 Nike http://standardatl.com/home/wp-content/uploads/2010/07/Nike_Campus_Tour_01.jpg
  43. 43. Slide 43 Google http://static.panoramio.com/photos/original/400729.jpg
  44. 44. Slide 44 Apple http://www.techzek.com/wp-content/uploads/2011/09/apple_campus-1.jpg
  45. 45. Slide 45 Doggy Day Care http://www.adogsdayout.com/Pix_Overhead_View_ADDO_7-31-08.JPG
  46. 46. Slide 46 NYU Campus http://www.adogsdayout.com/Pix_Overhead_View_ADDO_7-31-08.JPG
  47. 47. Slide 47 Downtown Vegas - Fremont East http://www.eatinglv.com/wordpress/wp-content/gallery/odettedowntown/chinatown-038-large.jpg
  48. 48. Slide 48 Downtown Vegas - Fremont East http://www.lucyvegas.com/sites/default/files/griffin5.jpg
  49. 49. Slide 49 Downtown Vegas - Fremont East
  50. 50. Slide 50 Downtown Vegas - Fremont East http://roadjournals.viamagazine.com/wp-content/uploads/2011/05/The-Beat-Coffeehouse.jpg
  51. 51. Slide 51 DOWNTOWN PROJECT - $350M $ 50M – Small businesses $ 50M – Tech Startups $ 50M – Education, Arts, Culture $200M – Real Estate
  52. 52. Slide 52 DOWNTOWN PROJECT GOALS
  53. 53. Slide 53 DOWNTOWN PROJECT GOALS Live/Work/Play – Walking Distance
  54. 54. Slide 54 DOWNTOWN PROJECT GOALS Live/Work/Play – Walking Distance The Most Community-Focused Large City in the World
  55. 55. Slide 55 DOWNTOWN PROJECT GOALS Live/Work/Play – Walking Distance The Most Community-Focused Large City in the World The Co-Learning and Co-working Capital of the World
  56. 56. Slide 56 ROI vs. ROC Instead of maximizing short-term ROI (Return On Investment)…
  57. 57. Slide 57 ROI vs. ROC Instead of maximizing short-term ROI (Return On Investment)… We focus on maximizing long-term ROC
  58. 58. Slide 58 ROI vs. ROC Instead of maximizing short-term ROI (Return On Investment)… We focus on maximizing long-term ROC (Return On Community)
  59. 59. Slide 59 ROI vs. ROC and ROL Instead of maximizing short-term ROI (Return On Investment)… We focus on maximizing long-term ROC (Return On Community) and institutionalizing ROL
  60. 60. Slide 60 ROI vs. ROC and ROL Instead of maximizing short-term ROI (Return On Investment)… We focus on maximizing long-term ROC (Return On Community) and institutionalizing ROL (Return On Luck) – Accelerating Serendipity
  61. 61. Slide 61 THE BIG BET Accelerating Collisions, Community, and Co-Learning
  62. 62. Slide 62 THE BIG BET Accelerating Collisions, Community, and Co-Learning …will lead to… Happiness, Luckiness, Innovation, and Productivity
  63. 63. Slide 63 DOWNTOWN PROJECT - $350M $ 50M – Small businesses $ 50M – Tech Startups $ 50M – Education, Arts, Culture $200M – Real Estate
  64. 64. Slide 64 $50M – Small Businesses
  65. 65. Slide 65 $50M – Small Businesses  Criteria
  66. 66. Slide 66 $50M – Small Businesses  Criteria  Owner Operated - Passionate
  67. 67. Slide 67 $50M – Small Businesses  Criteria  Owner Operated - Passionate  Helps Build Community
  68. 68. Slide 68 $50M – Small Businesses  Criteria  Owner Operated - Passionate  Helps Build Community  Execution Ability
  69. 69. Slide 69 $50M – Small Businesses  Criteria  Owner Operated - Passionate  Helps Build Community  Execution Ability  Sustainable
  70. 70. Slide 70 $50M – Small Businesses  Criteria  Owner Operated - Passionate  Helps Build Community  Execution Ability  Sustainable  Unique or First or Best at Something
  71. 71. Slide 71 $50M – Small Businesses  Criteria  Owner Operated - Passionate  Helps Build Community  Execution Ability  Sustainable  Unique or First or Best at Something  Story-worthy
  72. 72. Slide 72 Natalie
  73. 73. Slide 73 Natalie
  74. 74. Slide 74 Natalie
  75. 75. Slide 75 Natalie
  76. 76. Slide 76 Natalie
  77. 77. Slide 77 Natalie
  78. 78. Slide 78 Check Cashing http://www.vegaschatter.com/files/100501/checks_cashed..jpg
  79. 79. Slide 79 Check Cashing
  80. 80. Slide 80 Sarah
  81. 81. Slide 81 Sarah
  82. 82. Slide 82 Sarah
  83. 83. Slide 83 Shipping Containers http://images03.olx.com/ui/8/84/18/1280992807_108377618_4-cargo-containers-40ft-20-ft-For-Sale.jpg
  84. 84. Slide 84 Shipping Containers
  85. 85. Slide 85 Shipping Container Park
  86. 86. Slide 86 Shipping Container Park
  87. 87. Slide 87 Shipping Container Park
  88. 88. Slide 88 Shipping Container Park
  89. 89. Slide 89 Bike Sharing
  90. 90. Slide 90 $50M – Tech Startups http://img- s.foursquare.com/pix/EN1ZIL0JC5HTCZYD0PW41SWQYJHURTD204ZFZYBFGPM3F5JS.jpg
  91. 91. Slide 91 $50M – Tech Startups http://timenerdworld.files.wordpress.com/2011/12/romotivefinal.jpg?w=576
  92. 92. Slide 92 The City as a Startup http://bostinno.com/wp-content/uploads/2011/10/startup-sign.png
  93. 93. Slide 93 $50M – Startups http://www.shebytes.com/wp-content/uploads/2011/12/venture-for-america-12-12-11.jpg
  94. 94. Slide 94 $50M – Education, Arts, Culture http://blogs.middlebury.edu/internship/files/2011/01/teach4America1.jpg
  95. 95. Slide 95 $50M – Education, Arts, Culture http://blogs.middlebury.edu/internship/files/2011/01/teach4America1.jpg
  96. 96. Slide 96 $50M – Education, Arts, Culture http://blogs.middlebury.edu/internship/files/2011/01/teach4America1.jpg
  97. 97. Slide 97 $50M – Education, Arts, Culture http://blogs.middlebury.edu/internship/files/2011/01/teach4America1.jpg
  98. 98. Slide 98 $50M – Education, Arts, Culture http://www.vegasnews.com/wp-content/uploads/3_2_12_burn_vegas_kabik-131-9-588.jpg
  99. 99. Slide 99 $50M – Education, Arts, Culture http://mikerossart.net/images/mikeross_enter.jpg
  100. 100. Slide 100 $50M – Education, Arts, Culture
  101. 101. Slide 101
  102. 102. Slide 102
  103. 103. Slide 103 $200M – Real Estate http://ecx.images-amazon.com/images/I/510Ph%2BqMw-L.jpg
  104. 104. Slide 104 WHEN CITIES DOUBLE IN SIZE… Productivity and innovation per resident increases by 15% (But not true for companies) Accelerate serendipity -> Accelerate learning -> Accelerate productivity and innovation
  105. 105. Slide 105 3 INGREDIENTS FOR SERENDIPITY 1. Residential density of 100 residents/acre 2. Street-level activity for residents to collide 3. Culture of openness, collaboration, creativity, and optimism
  106. 106. Slide 106 HOW TO ACCELERATE LEARNING & INNOVATION Maximize serendipitous interactions Density in the office Density in the city Collisions vs. convenience
  107. 107. Slide 107 Las Vegas City Hall http://brandonwiegand.com/wp-content/uploads/2010/11/Zappos-City-Hall.jpg
  108. 108. Slide 108 DIFFERENT GROUPS COLLIDING 1. 2000 Zappos employees 2. 1000 Teach For America corp members and alumni 3. Tech Startup Community 4. Small Business Community 5. Art and Music Communities 6. Other Passion Communities 7. Local Residents
  109. 109. Slide 109 LEARNING FROM ZAPPOS & COWORKING… Culture is to a Company
  110. 110. Slide 110 LEARNING FROM ZAPPOS & COWORKING… Culture is to a Company as Community is to a City
  111. 111. Slide 111 LEARNING FROM ZAPPOS & COWORKING… Culture is to a Company as Community is to a City Values Innovation Serendipity Participation Upward Mobility Attracting Startups and the Creative Class
  112. 112. Slide 112 Our Secret Weapon http://static3.vipasuite.com/resources/dyn/images/459355w783h429s185b/_fn/ogden-3.jpg
  113. 113. Slide 113 LEARNING FROM TED, SUMMIT SERIES, SXSW, BIF… Curated Content Serendipity Learning Connections Community
  114. 114. Slide 114 Downtown Vegas Every Day Curated Content Serendipity Learning Connections Community
  115. 115. Slide 115 Fremont St. & Las Vegas Blvd.
  116. 116. Slide 116 Fremont St. & Las Vegas Blvd.
  117. 117. Slide 117 Fremont St. & Las Vegas Blvd.
  118. 118. Slide 118 Fremont St. & Las Vegas Blvd.
  119. 119. Slide 119 Fremont St. & Las Vegas Blvd.
  120. 120. Slide 120 Fremont St. & Las Vegas Blvd.
  121. 121. Slide 121 Fremont St. & Las Vegas Blvd.
  122. 122. Slide 122 Fremont St. & Las Vegas Blvd.
  123. 123. Slide 123 Fremont St. & Las Vegas Blvd.
  124. 124. Slide 124 Fremont St. & Las Vegas Blvd.
  125. 125. Slide 125 Downtown Vegas Monthly Cadence
  126. 126. Slide 126 Downtown Vegas Monthly Cadence Week 1 – First Friday Week
  127. 127. Slide 127 Downtown Vegas Monthly Cadence Week 1 – First Friday Week Week 2 – Tech Week
  128. 128. Slide 128 Downtown Vegas Monthly Cadence Week 1 – First Friday Week Week 2 – Tech Week Week 3 – Fashion Week
  129. 129. Slide 129 Downtown Vegas Monthly Cadence Week 1 – First Friday Week Week 2 – Tech Week Week 3 – Fashion Week Week 4 – Catalyst Week
  130. 130. Slide 130 Fashion Incubator – Stitch Factory
  131. 131. Slide 131 Fashion Incubator – Stitch Factory
  132. 132. Slide 132 Return On Collisions (ROC) What is the value of a resident that is out and about in the community?
  133. 133. Slide 133 Return On Collisions (ROC) What is the value of a resident that is out and about in the community? 3-4 hours/day
  134. 134. Slide 134 Return On Collisions (ROC) What is the value of a resident that is out and about in the community? 3-4 hours/day x 7 days/week
  135. 135. Slide 135 Return On Collisions (ROC) What is the value of a resident that is out and about in the community? 3-4 hours/day x 7 days/week x 40 weeks/year
  136. 136. Slide 136 Return On Collisions (ROC) What is the value of a resident that is out and about in the community? 3-4 hours/day x 7 days/week x 40 weeks/year = 1000 “collisionable” hours/year
  137. 137. Slide 137 Jake – Flint and Tinder http://images.fastcompany.com/upload/inline-Made-In-The-USA-Flint-And-Tinder-Undies-And-You- Will-Love-It-b.jpg
  138. 138. Slide 138 Jake – Flint and Tinder
  139. 139. Slide 139 Return On Collisions (ROC) What is the value of a purposeful visitor that contributes to community?
  140. 140. Slide 140 Return On Collisions (ROC) What is the value of a purposeful visitor that contributes to community? 12 hours/day
  141. 141. Slide 141 Return On Collisions (ROC) What is the value of a purposeful visitor that contributes to community? 12 hours/day x 7 days/week
  142. 142. Slide 142 Return On Collisions (ROC) What is the value of a purposeful visitor that contributes to community? 12 hours/day x 7 days/week x 12 weeks/year
  143. 143. Slide 143 Return On Collisions (ROC) What is the value of a purposeful visitor that contributes to community? 12 hours/day x 7 days/week x 12 weeks/year = 1000 “collisionable” hours/year
  144. 144. Slide 144 Return On Collisions (ROC) “Subscribe” to Downtown Vegas
  145. 145. Slide 145 Return On Collisions (ROC) 1. 100 residents per acre 2. Street-level activity for residents to collide 3. Culture of openness, collaboration, creativity, and optimism
  146. 146. Slide 146 Return On Collisions (ROC) 1. 100 residents per acre
  147. 147. Slide 147 Return On Collisions (ROC) 1. 100,000
  148. 148. Slide 148 Return On Collisions (ROC) 1. 100,000 “collisionable”
  149. 149. Slide 149 Return On Collisions (ROC) 1. 100,000 “collisionable” community
  150. 150. Slide 150 Return On Collisions (ROC) 1. 100,000 “collisionable” community hours
  151. 151. Slide 151 Return On Collisions (ROC) 1. 100,000 “collisionable” community hours per
  152. 152. Slide 152 Return On Collisions (ROC) 1. 100,000 “collisionable” community hours per acre
  153. 153. Slide 153 Return On Collisions (ROC) 1. 100,000 “collisionable” community hours per acre per
  154. 154. Slide 154 Return On Collisions (ROC) 1. 100,000 “collisionable” community hours per acre per year
  155. 155. Slide 155 Return On Collisions (ROC) 1. 100,000 “collisionable” community hours per acre per year 2.3 collisionable hours per square foot per year
  156. 156. Slide 156 OUR BIG BET… 3 Guiding Principles Accelerate: 1.Collisions 2.Community 3.Co-Learning And everything else will fall into place… (productivity, innovation, growth, happiness) What will people say about downtown?
  157. 157. Slide 157
  158. 158. Slide 158 ZAPPOS, DELIVERING HAPPINESS, DOWNTOWN PROJECT
  159. 159. Slide 159 50% of Humans Live in Cities http://ecx.images-amazon.com/images/I/510Ph%2BqMw-L.jpg
  160. 160. Slide 160 75% Will Live In Cities in Our Lifetime http://ecx.images-amazon.com/images/I/510Ph%2BqMw-L.jpg
  161. 161. Slide 161 The 4-Minute Mile
  162. 162. Slide 162 The 4-Minute Mile http://en.wikipedia.org/wiki/File:Iffley_Road_Track,_Oxford_-_blue_plaque.JPG
  163. 163. Slide 163 www.DowntownProject.com tony@zappos.com http://langintro.com/lv_dec_2010/pics/0950_emergency_arts_window.jpg
  164. 164. Slide 164 A great brand is a story that never stops unfolding.
  165. 165. Slide 165 A great brand company is a story that never stops unfolding.
  166. 166. Slide 166 A great brand company city is a story that never stops unfolding.
  167. 167. Slide 167 A great brand company city community is a story that never stops unfolding.
  168. 168. Slide 168 Thank you! For a copy of this presentation: tony@zappos.com For more information: www.DowntownProject.com
  169. 169. Slide 169 http://www.youtube.com/watch?v=AF4f3l4a4_A

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