PEAK. Chip Conley. How Great Companies Get Their Mojo from Maslow. Founder & CEO Joie de Vivre

Transcription

1 PEAK How Great Companies Get Their Mojo from Maslow Chip Conley Founder & CEO Joie de Vivre

2 Life, and business, is all about where you pay your attention.

3 Just as people experience varying levels of fulfillment

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5 so do companies.

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7 CALLING CAREER JOB

8 My calling in life? Create Joie de Vivre!

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10 You are where you sleep.

11 Boutique hotels are mirrors for the aspirations of their customers and create an Identity Refreshment Psychographics vs. Demographics

12 We grew into one of the three most prominent boutique hoteliers in the U.S. with 20 properties by the year 2000.

13 Service Profit Chain Developing Strong Customer Loyalty Building an Enthusiastic Staff 2 3 Maintaining a Profitable & Sustainable Business 4 Creating a Unique Corporate Culture 1 Joie de Vivre Heart : Karmic Capitalism

14 By early 2001, JDV was flying high.

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18 Joie de Vivre = Self Actualization SELF ACTUALIZATION Where peak experiences occur ESTEEM SOCIAL / BELONGING SAFETY PHYSIOLOGICAL MASLOW S HIERARCHY OF NEEDS PYRAMID

19 If humans aspire to self-actualization, why can t companies which are really just a collection of people aspire to this peak, too? WHAT DOES A SELF-ACTUALIZED COMPANY LOOK LIKE?

20 A great leader knows how to tap into potential and actualize it into reality. A great business leader deeply understands the motivations of their employees, customers and investors.

21 IDENTITY REFRESHMENT SELF ACTUALIZATION FEELING LIKE A VIP ESTEEM RESPONSIVE STAFF SERVICE SOCIAL/BELONGING A QUIET AND SAFE ROOM SAFETY A COMFORTABLE AND CLEAN BED PHYSICAL HOTEL HIERARCHY OF NEEDS PYRAMID

22 TRANSFORM (Self-Actualization) SUCCEED (Social /Belonging & Esteem) SURVIVE (Physiological & Safety) TRANSFORMATION PYRAMID

23 Employee Pyramid Which asset does the hotel industry value more?

24 CREATES: MEANING (Transform) INSPIRATION RECOGNITION (Succeed) LOYALTY MONEY (Survival) BASE MOTIVATION EMPLOYEE RELATIONSHIP TRUTH

25 CREATES: CALLING MEANING (Transform) INSPIRATION CAREER RECOGNITION (Succeed) LOYALTY JOB MONEY (Survival) BASE MOTIVATION EMPLOYEE RELATIONSHIP TRUTH

26 JDV Example Finding one s calling by looking at one s purpose and its impact, not the task

27 Customer Pyramid If I had asked my customers what they wanted, they would have said a faster horse. Henry Ford

28 CREATES: MEETS UNRECOGNIZED NEEDS (Transform) EVANGELISM MEETS DESIRES (Succeed) COMMITMENT MEETS EXPECTATIONS (Survival) SATISFACTION CUSTOMER RELATIONSHIP TRUTH

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30 Any company can create their own Customer Pyramid Procare/ Genius Bar Freedom of Expression Clubhouse where you can communicate your identity Harley Owner Groups (H.O.G.) Nice Product Displays / Good Service Rider s Edge Apple Retail Stores Harley-Davidson

31 1. Help your customers meet their highest goals. Nike: Just Do It. Home Depot: You can do it. We can help. Bank of America: Keep the Change Program

32 Bank of America: Keep the Change Program 8 million people $1 billion savings Matches dollar for dollar every amount saved for first 3 months, and 5% there after up to $250/year

33 2. Give your customers the ability to truly express themselves. Harley-Davidson tattoos Apple halo effect Jones Soda: Customers on the bottle

34 Jones Soda: Customized Labels My Jones $29.99/12 pack photo and quote 858,582 photos submitted

35 3. Make your customers feel like they re part of a bigger cause. Patagonia: 1% for the Planet Prius: I can buy a car & save the world! Timberland, Kenneth Cole, The Body Shop, Ben & Jerry s

36 Patagonia: 1% for the Planet 1% of sales since 1985 $31 million donated Alliance of 1,000 companies that are supporting nearly 2,000 environmental organizations

37 4. Offer your customers something of real value that they hadn t even imagined. FedEx Jet Blue: DirecTV The Geek Squad

38 JetBlue: DirecTV David Neeleman, founder: bringing the living room couch to coach, coast to coast

39 Investor Pyramid Transactional investors focus on the milk. Relationship investors focus on the cow.

40 CREATES: LEGACY PRIDE OF OWNERSHIP (Transform) RELATIONSHIP ALIGNMENT (Succeed) CONFIDENCE TRANSACTION ALIGNMENT (Survival) TRUST INVESTOR RELATIONSHIP TRUTH

41 CUSTOMER TRUTH Peak Experiences Create Peak Performance Meets Unrecognized Needs CREATES: Evangelism Relationship Truths Pyramid Meets Desires Commitment Meets Expectations Satisfaction CREATES: CREATES: Pride of Ownership Inspiration Meaning Legacy Loyalty Recognition Relationship Alignment Confidence Base Motivation Money Transaction Alignment Trust EMPLOYEE TRUTH INVESTOR TRUTH

42 CUSTOMER TRUTH Peak Experiences Create Peak Performance Meets Unrecognized Needs CREATES: Evangelism Relationship Truths Pyramid Meets Desires Commitment Meets Expectations Satisfaction Loyalty Base Motivation CREATES: Inspiration Meaning Recognition Money EMPLOYEE TRUTH Building an Enthusiastic Staff 2 Developing Strong Customer Loyalty 3 Creating a Unique Corporate Culture 1 Maintaining a Profitable & Sustainable Business 4 Legacy Relationship Alignment Transaction Alignment INVESTOR TRUTH CREATES: Pride of Ownership Confidence Trust

43 OTHER PEAK PERFORMING ORGANIZATIONS Consciously using Maslow

44 What can hospitals (and the health care industry) learn from the hospitality business?

45 LESSON 1: THE PATIENT IS YOUR GUEST They want to be treated well, not just be cured. It s all about the experience. The higher you move up the customer pyramid, the more you move from a commodity to a premium-priced product. Motel 6 is at the bottom of the customer pyramid. Four Seasons is at the top. Where are you?

46 LESSON 2: IT S THE WHOLE PICTURE THAT THE PATIENT EXPERIENCES Just like the bartender or bellman can make or break the hotel experience, every touch point in the hospital matters not just the nurse and the doctor but also the parking attendant, the custodian, the food carriers, and the phlebotomist. The patient sees the entire event and interaction as one, so everyone needs to be moving up that continuum from job to calling. Many hospitals get the bottom and top of the employee pyramid right (money and meaning) but they forget about the relationship issues on the middle level (recognition).

47 LESSON 3: BECOME OBSESSIVE ABOUT YOUR CULTURE Culture is the glue that keeps your team together and it s the magnet that attracts talented people to work for you. Make a list of the 10 elements of your culture that truly differentiate you from other health care providers.

48 LESSON 4: BE READY TO REMAKE YOUR BUSINESS MODEL Hotel companies had to remake their distribution strategies when the disruptive innovation of third party travel websites (like Expedia) emerged as the Wal-Mart of Travel. Is Wal-Mart (or some other company or the government) about to disruptively innovate your approach to distributing or delivering your product? How can you create an Yvette the Hotel Matchmaker mass customized experience that will move you above the coming commoditization of health care?

49 Creating Peak Experiences Creates Peak Performance. Conventional wisdom is wrong: (1) money isn t the primary motivator for employees; (2) customers don t stay loyal when purely satisfied ; and (3) many investors have needs beyond ROI. Loyalty is created at the peak of each pyramid.

50 YOUR COMPANY (Survive)

51 YOUR COMPANY (Succeed)

52 YOUR COMPANY (Transform)

53 Seek the Peak

54 Join the PEAK Community