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1-Page Summary of Simply Brilliant
Any Firm Can Be Exceptional
In today’s economy, every company has a chance to be the big winner in their industry. This is true for any size of company and any sector. Offering exceptional products and customer service combined with “ever advancing competitive intensity” matters more than technology or slick marketing.
Although many executives don’t believe it, extensive research shows that passion brands are more successful than low-profile companies. In fact, the longevity of a business is determined by its ability to adapt and be innovative.
Competitive Intensity
Technology isn’t the most important thing in business. In fact, it’s not even close to being as important as maintaining competitive intensity. Customers expect to get the best products and services available, so companies have to constantly improve their products or find new ways of doing things. You can’t just rely on old strategies or you’ll be left behind by your competitors who are trying new ideas and approaches.
Today, every firm has to be exceptional in order to survive. Influential New York Times columnist Thomas L. Friedman points out that being average is no longer good enough because firms can access inexpensive labor and technology from abroad. Therefore, businesses must discover their unique value contribution and promote it so they stand out from the competition in saturated markets.
Many companies fail to be exceptional because they are boring. Customers want a company that stands out from the rest, not one that is mediocre or bad. Unfortunately, many companies achieve only endless frustration by being boring instead of excelling at what they do.
“What Could Be”
Business leaders need to be brave, set ambitious targets and try to make big scores. They must close the breach between present and possible. Creativity is the path to success for modern business leaders.
Success Principles
There are eight principles that lead to success. The first is to have a unique definition of success and differentiate yourself from others. Adam Morgan, brand strategy expert, calls this “a lighthouse identity.” Mercenaries focus on sales but missionaries care about significance and quality.
You need to communicate why your firm will win. You should provide thought leadership, which is different from just providing products and services. If you want to be inspirational, you shouldn’t use jargon or acronyms in your messages.
It’s important to think about what it means to be a leader today. You need to avoid the “paradox of expertise” that occurs when people who have been leaders for a long time can’t see the new things happening around them. They know too much, so they can’t imagine anything else. Enlightened leaders don’t just lead companies; they disrupt their personalities and help themselves move forward in changing times. They understand that knowledge is ever-changing and adaptable, not static like many experts believe it is.
Leaders should be dedicated learners who pursue new information and expertise. They should also focus on people’s emotions instead of just technology or products. Leaders have to encourage their employees to live up to the values that they espouse, so that customers can see how much those values mean to them.
One of the best leadership mindsets is to be humble and hungry. A person should limit his or her ego in order to be more creative and effective.
People should share the wealth. They can do this by taking tips from Jane Burgess, a partner of the John Lewis Partnership. The firm is owned by its employees and has two very successful businesses in the UK: Waitrose supermarkets and John Lewis department stores. It focuses on social capital rather than financial capital as most companies do.
