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Big and Famous
Or
Fast and Mobile
Speed may be more important, and
you can use it to your advantage.
1Ron McFarland, Tokyo...
Not true!!!!!!
Use speed not size as a competitive advantage
Old Harvard University study………
1. Big companies have cost ad...
Note: In the United States, larger corporation do not protect smaller ones.
Use speed not size as a competitive advantage
...
Use speed as a competitive advantage
If you can say “yes”,
it will be a company
with a good future.
Whether when looking f...
Use speed as a competitive advantage
Is there a faster
way to do things?
Most companies suffer with three problems:
1. The...
Is the company evaluating
their methods regularly to
make sure they are not old?
Use speed as a competitive advantage
Lear...
Use speed as a competitive advantage
Learn how to stop doing things.
1.Old Processes – Old Ideas
2.Only doing what they ar...
Use speed as a competitive advantage
Learn how to stop doing things.
1.Old Processes – Old Ideas
2.Only doing these they a...
Rational, data based thinking about the market
Only one in 25
people (4%) are
happy with us. We
must change the
product.
9...
Emotional thinking about the market
Sometimes we get too emotional and too close to the market to see
change. CEO pride is...
Use speed as a competitive advantage
Anticipating trends
1.A company must find out what people
are complaining about.
2.A ...
Use speed as a competitive advantage
Anticipating trends
I’m asking a lot of
question and listening
carefully to learn his...
If a company gets too big, it stops asking questions.
It thinks it knows everything and stop listening.
Fast companies rou...
Use speed as a competitive advantage
Fast Execution
14Ron McFarland, Tokyo, Japan
Use speed as a competitive advantage
Fast Execution
1. Put action-plan in place quickly.
2. Follow through on it regularly...
Examples of Fast Execution
On March 31, 2008, a country & western music band was traveling
from Halifax, Canada to Omaha, ...
Examples of Fast Execution
The band looked out the window in Chicago and noticed the
United Airline’s ground crew throwing...
Examples of Fast Execution
The song, “United Breaks Guitars” by Dave Carroll was a big hit
going from six viewings on July...
Examples of Fast Execution
In the song a highly professional “Taylor” Guitar was mentioned.
As soon as Bob Taylor, Preside...
Examples of Fast Execution
CALTON CASES
Furthermore, Jim Laffoley, President of Calton Cases, saw the
video. He knew this ...
Need for speed in crisis
Today, with the speed of mobile devices, internet blogging, messages on
Tweeter, Facebook, Linked...
Use speed as a competitive advantage
Identifying Fast Companies
1. They want to get things done quickly.
2. They like the ...
-They make quick decisions.
-They anticipate trends.
-They execute very fast.
Use speed as a competitive advantage
Fast Co...
Thank you
Use speed as a competitive advantage
If you would like to learn more….
24
Ron McFarland, Tokyo, Japan
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Execute Fastest

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Over the years in Japan, I have worked for both large and small corporations. In spite of less expertise in many disiplines, I'm finding that small companies can be more competitive. They use SPEED as an advantage. Notice this presentation I put together to keep me on track as well.

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Execute Fastest

  1. 1. Big and Famous Or Fast and Mobile Speed may be more important, and you can use it to your advantage. 1Ron McFarland, Tokyo, Japan
  2. 2. Not true!!!!!! Use speed not size as a competitive advantage Old Harvard University study……… 1. Big companies have cost advantage. 2. Big companies get the best customers. 3. Big companies get the best employees. 2Ron McFarland, Tokyo, Japan
  3. 3. Note: In the United States, larger corporation do not protect smaller ones. Use speed not size as a competitive advantage Based on research of companies in the United States several years ago… Big corporations………… Had less profit growth 3 out of 4 business terms than smaller competitors Grew slower 8 out of 10 business terms than smaller competitors Routinely fail to execute their own business strategies more often than smaller competitors. Source: Laurence Haughton (http://www.laurencehaughton.com) 3Ron McFarland, Tokyo, Japan
  4. 4. Use speed as a competitive advantage If you can say “yes”, it will be a company with a good future. Whether when looking for a job or evaluating a company, consider these three things: Do they make decisions quickly? Do they anticipate trends so they can respond quickly? When putting in a strategy, do they execute quickly? 4Ron McFarland, Tokyo, Japan
  5. 5. Use speed as a competitive advantage Is there a faster way to do things? Most companies suffer with three problems: 1. They have old processes & old ideas. 2. They only do what they are used to. 3. They have people and products that have past expiration dates. 5Ron McFarland, Tokyo, Japan
  6. 6. Is the company evaluating their methods regularly to make sure they are not old? Use speed as a competitive advantage Learn how to stop doing things. 1.Old Processes – Old Ideas 1. Use methods that worked well once. 2. Confidence was built in that method. 3. Comfort comes from years of doing the same thing. 4. Times change and there are faster ways to do things, but people ignore them. 6Ron McFarland, Tokyo, Japan
  7. 7. Use speed as a competitive advantage Learn how to stop doing things. 1.Old Processes – Old Ideas 2.Only doing what they are used to 1. Better to change too fast than too slow. Let go of ideas early and before others do (not after). 2. Continually determine if there is a faster way. 7Ron McFarland, Tokyo, Japan
  8. 8. Use speed as a competitive advantage Learn how to stop doing things. 1.Old Processes – Old Ideas 2.Only doing these they are used to 3.People and products that have past expiration dates Product-Employees-Customers • Old products get in the way of new products coming in. • Older employees get in the way of newer employees. • Old customers get in the way of new customers. • Older suppliers get in the way of new better suppliers. 8Ron McFarland, Tokyo, Japan
  9. 9. Rational, data based thinking about the market Only one in 25 people (4%) are happy with us. We must change the product. 9Ron McFarland, Tokyo, Japan
  10. 10. Emotional thinking about the market Sometimes we get too emotional and too close to the market to see change. CEO pride is often the greatest expense on a P/L statement. 10 I love our products. They have a long history of success. I love our company. It has a great reputation and has for years. I am proud of what I have achieved over the years. The market loves us. Ron McFarland, Tokyo, Japan
  11. 11. Use speed as a competitive advantage Anticipating trends 1.A company must find out what people are complaining about. 2.A recession is a good time to learn opportunities as more people are complaining. Today’s complaints are tomorrow’s opportunities. 11Ron McFarland, Tokyo, Japan
  12. 12. Use speed as a competitive advantage Anticipating trends I’m asking a lot of question and listening carefully to learn his worries, future needs and prospects for the future. By doing this, a company can react fast when any new request is made. 12Ron McFarland, Tokyo, Japan
  13. 13. If a company gets too big, it stops asking questions. It thinks it knows everything and stop listening. Fast companies routinely spend time with the customers that use their products. Use speed as a competitive advantage 13Ron McFarland, Tokyo, Japan
  14. 14. Use speed as a competitive advantage Fast Execution 14Ron McFarland, Tokyo, Japan
  15. 15. Use speed as a competitive advantage Fast Execution 1. Put action-plan in place quickly. 2. Follow through on it regularly and learn where help is needed. 3. The manager always has responsibility for progress. 4. There will always be people who want to slow things down and should be kept away from the project as long as possible. 15Ron McFarland, Tokyo, Japan
  16. 16. Examples of Fast Execution On March 31, 2008, a country & western music band was traveling from Halifax, Canada to Omaha, Nebraska and changed planes in Chicago . Halifax Omaha Chicago 16Ron McFarland, Tokyo, Japan
  17. 17. Examples of Fast Execution The band looked out the window in Chicago and noticed the United Airline’s ground crew throwing their guitars and instruments. The guitar was damaged and the musician made a claim to United Airlines. The musician, Dave Carroll, continued to claim damages of US$1,200 which were always rejected, until July 6, 2009. So, he decide to write a song about it, and put it on YouTube. 17Ron McFarland, Tokyo, Japan
  18. 18. Examples of Fast Execution The song, “United Breaks Guitars” by Dave Carroll was a big hit going from six viewings on July 6th to 2 million by July 12th. Still United did nothing. http://www.davecarrollmusic.com/ 18Ron McFarland, Tokyo, Japan
  19. 19. Examples of Fast Execution In the song a highly professional “Taylor” Guitar was mentioned. As soon as Bob Taylor, President of Taylor Guitars, learned of this, he made a short video on how to pack and travel with his guitars and put it on YouTube. He also helped Dave Carroll in any way he could to repair his guitar. http://www.taylorguitars.com/ 19Ron McFarland, Tokyo, Japan
  20. 20. Examples of Fast Execution CALTON CASES Furthermore, Jim Laffoley, President of Calton Cases, saw the video. He knew this was his chance, if he acted quickly, so with Dave Carroll’s permission, he developed and promoted a special “Dave Carroll Traveler’s Edition” Guitar Case. With this “United Breaks Guitars” song, Dave Carroll’s music business exploded, along with Taylor Guitars and Calton Case’s sales. With very little investment, profits skyrocketed because they acted and executed fast. United Airlines is one of the largest airlines in the world, and they finally responded, but it was too late. http://www.caltoncases.com/ 20Ron McFarland, Tokyo, Japan
  21. 21. Need for speed in crisis Today, with the speed of mobile devices, internet blogging, messages on Tweeter, Facebook, LinkedIn and uploading videos on YouTube, fast response is more important than ever. Here is the best approach to a crisis: Acting fast in a crisis First response Responds in minutes after hearing of crisis. Says more detailed information to come. Ask for information On all social media, blogs, etc. asks for up-to-date information by anyone on the scene. Crisis manager This position has been assigned and has authority to respond to any crisis quickly. Response Manager prepares response based on current information. Internal data The manager gathers as much internal information as possible. Visual data Gathers and presents up-to-date information with visual images. Next update The manager continues to present updates until there is no more interest in the crisis. In the past, response was in days after consolations with PR managers and lawyers, but the speed of response in minutes or hours is required in today’s fast, “real-time” marketing and PR working environment. 21Ron McFarland, Tokyo, Japan
  22. 22. Use speed as a competitive advantage Identifying Fast Companies 1. They want to get things done quickly. 2. They like the boss, the company, the products and the customers. 3. They look for ways to change things for the better. 4. They like learning new things and solving problems. 5. They do not worry greatly about making mistakes. The environment encourages trying new things. 22Ron McFarland, Tokyo, Japan
  23. 23. -They make quick decisions. -They anticipate trends. -They execute very fast. Use speed as a competitive advantage Fast Companies are more competitive. Source: Laurence Haughton (http://www.laurencehaughton.com) 1. There has been hundreds of studies on fast companies directly and internally that shows fast companies are more competitive. 2. There has been thousands of case studies showing how competitive they are. 23Ron McFarland, Tokyo, Japan
  24. 24. Thank you Use speed as a competitive advantage If you would like to learn more…. 24 Ron McFarland, Tokyo, Japan

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