"Why do you think the TV show 'Shark Tank' is so popular? You would think that a show about a bunch of finely dressed business people assessing new business ventures is more fodder for boardrooms than family living rooms. So what’s the hook and what can we all learn from this happening?" writes Dan Mack in his latest blog post.
"The seven deadly are a list of rebellious vices that historically have afflicted mankind. The center of each vice is the tendency to focus too much on one’s self and not enough on others. Sounds like the criticism many buyers have of a number of today’s top sales and marketing leaders, doesn’t it?" writes Dan Mack, founder of the Mack Elevation Forum, in his latest blog post.
“How do we develop and maintain higher level strategic partnerships?” That was the theme of the recent Drug Store Industry Issues Summit in New York in December. Once a year, senior retail and manufacturing leaders get together to review the ever changing dynamics around how we create value for each other while satisfying the needs of the shopper.
Everyone loves a dark horse — the come-from-behind winner that no one expects. We cheer for them, marvel at their tenacity, and hope for their victory over stronger, better-known competitors. "But why do dark horses win?" asks Mack Elevation Forum founder, Dan Mack.
A leading category manager who purchases a $4 billion category of business shared with me during a recent interview that he believes less than 5% of the companies calling on him “truly create meaningful value” and actually “get it.” He went on to share that, “they don’t understand or appreciate my definition of value.”
During last December’s Drug Store Industry Issues Summit our panel of retail executives discussed how to optimize consumer white spaces, creating new trips and value. If you were not there, you missed some great discussions by many of the top thinkers in our industry.
The vast majority of product launches, reorganizations, mergers and improvement initiatives either fail or grossly disappoint. In all, roughly 90% of major projects violate their own schedule, budget or quality standards.
Warren Buffet once shared: “In looking for people to hire, you look for three qualities: integrity, intelligence and energy. And if they don't have the first, the other two will kill you.” Most people believe they operate with integrity and transparency, but the dirty little secret is that your customers may see you as biased or not as valuable as you think.
Recently during one of our Elevation Forum meetings, we asked the question: which competitors do you worry about the most? Many of the leaders in the room listed either the largest or the fastest growing competitors they compete against. But one honest executive shared a provocative reflection. He said we are not as worried about who’s outside, but more focused on the enemy in the mirror.
A few years back, Harvard surgeon Atul Gawande authored a book called “The Checklist Manifesto.” The author's message is that the complexity of life has exceeded most individual's ability to manage it consistently without error despite advances in technology, training and specialization. His solution is the utilization of a checklist or a blueprint to ensure and drive success.
A few years back, The Economist stated that 70 percent of the value of a new car lies in intangibles. It is a great reminder that companies — and brands — are made up of impressions, insights and even ideas.
Your company’s ideas may be as valuable as your products. Many of today’s most relevant and distinct brands, such as Oakley sunglasses, Under Armour, Axe, Aveeno, Apple, Method, Stonyfield yogurt and Whole Foods, have one thing in common: Each of these brands may not be the largest in its category, but it is the best at creating emotional connections with its core consumer.