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February 16, 2006
The secret to a successful business, courtesy of Tom Peters
In a post called D-Squared MP, Tom Peters boils down the essence of a successful business to one basic principle: D-Squared MP. At which point, of course, even the MBAs are scratching their heads. Wait, didn't you mean the four P's? No, D-Squared MP:
"D-squared, or Dramatic Difference: Too many people risk their life savings on a not very original idea. No, I don't mean that you have to start a Google, but I do mean that you must be clear, very very clear, about how your new Italian restaurant or real estate agency will be "dramatically different" from the current offerings in your locale-market...
M, or Money: And far too many people with a genuinely rippin' idea forget to get the "money guy," the "businessperson," on board from, more or less, day one. I'm less talking about the funds raiser here (for the moment, I assume you'll use your carefully squirreled away war chest of $175,000, and another $50,000 borrowed from Aunt Matilda), and more focused on the person who "gets off on business" as much as you get off on your genuinely better-startling idea for a financial-planning boutique in Upper Podunk...
P, or People: Obvious? Of course! Not so fast! That inspired dreamer, that finance aficionado ... are often wretches when it comes to hiring and inspiring, day in and day out, the waiters and waitresses or receptionists who will "Wow" the clientele—or not.
There you have it: the #1 ingredient in starting a successful business is having an original, innovative idea. Then, you need to come up with a feasible plan for executing on this idea. Finally, you need the right people in place to make that idea a reality.
Tags: TomPeters innovation
Posted by dominic at February 16, 2006 7:37 AM | Recommend this! | +dlc | +dig
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Comments
This post seems to be an example of a guru who copies the the Texas Sharpshooter. (http://www.fallacyfiles.org/texsharp.html)
I mean who can say what is or is not a dramatic difference (or a me too) except after the fact?
Was Southwest a "dramatically different" concept? Their original intent was to offer flights that competed with bus travel in Texas, not all that dramatic (or hairy and audacious). And their original intent for learning to turn flights around faster was the fact that they had to reduce their number of planes due to financial woes.
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Classical singer Russell Watson postpones his forthcoming UK tour after undergoing brain surgery...
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Singer George Michael lends the piano on which John Lennon wrote Imagine to an anti-war exhibition...
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London-born rapper Sway is to be honoured at the BET Hip-Hop awards in the US...
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Social networking site MySpace is to block users from uploading copyrighted music to its pages...
Record company EMI sign a deal with the estate of crooner Dean Martin to use the singer's likeness...
The Red Hot Chili Peppers are leading the way at this years MTV Europe music awards with four nominations...
Madonna says she may adopt another child from abroad following her proposed adoption of a Malawian boy...
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The judge who put coded messages in his Da Vinci Code plagiarism trial ruling has written another...
Singer George Michael lends the piano on which John Lennon wrote Imagine to an anti-war exhibition...
The Red Hot Chili Peppers are leading the way at this years MTV Europe music awards with four nominations...
The Red Hot Chili Peppers are leading the way at this years MTV Europe music awards with four nominations...
Pioneering screenwriter Nigel Kneale, best known for the Quatermass TV serials and films, dies aged 84...
Jonathan Ross is dubbed "risque" by Ofcom but not in breach of rules over an interview with David Cameron...
The Rolling Stones postpone a show in the US to allow singer Sir Mick Jagger time to rest his voice...
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Doctor Who takes three prizes at the National Television Awards in a repeat of its success last year...
Doctor Who takes three prizes at the National Television Awards in a repeat of its success last year...
The Rolling Stones cancel a gig in Hawaii and postpone other tour dates as Mick Jagger suffers throat troubles...
Social networking site MySpace is to block users from uploading copyrighted music to its pages...
Pop trio Atomic Kitten will reform to play a concert in support of jailed Liverpool football fan Michael Shields...
William Styron, whose Holocaust novel Sophie's Choice became a film and an opera, has died, aged 81...
Pop trio Atomic Kitten will reform to play a concert in support of jailed Liverpool football fan Michael Shields...
Pop trio Atomic Kitten will reform to play a concert in support of jailed Liverpool football fan Michael Shields...
Alec Baldwin asks for his voice to be removed from an "unfair" documentary about Arnold Schwarzenegger...
Singer George Michael lends the piano on which John Lennon wrote Imagine to an anti-war exhibition...
Pop trio Atomic Kitten will reform to play a concert in support of jailed Liverpool football fan Michael Shields...
Pop trio Atomic Kitten will reform to play a concert in support of jailed Liverpool football fan Michael Shields...
TV host Oprah Winfrey gives audience members $1,000 (£526) each to donate to a charitable cause...
Colombia's vice president is "baffled" by Kate Moss's success following cocaine allegations...
Veteran actor William Franklyn, known for voicing the 1960s Schweppes TV adverts, dies aged 81...
Borat creator Sacha Baron Cohen reportedly signs a $42.5m (£22m) film deal starring his character Bruno...
Madonna says she may adopt another child from abroad following her proposed adoption of a Malawian boy...
Pioneering screenwriter Nigel Kneale, best known for the Quatermass TV serials and films, dies aged 84...
Singer George Michael lends the piano on which John Lennon wrote Imagine to an anti-war exhibition...
TV host Oprah Winfrey gives audience members $1,000 (£526) each to donate to a charitable cause...
Pop trio Atomic Kitten will reform to play a concert in support of jailed Liverpool football fan Michael Shields...
Record company EMI sign a deal with the estate of crooner Dean Martin to use the singer's likeness...
Pop trio Atomic Kitten will reform to play a concert in support of jailed Liverpool football fan Michael Shields...
Veteran game show host Bob Barker is stepping down from hosting The Price is Right after 35 years...
Borat creator Sacha Baron Cohen reportedly signs a $42.5m (£22m) film deal starring his character Bruno...
Veteran game show host Bob Barker is stepping down from hosting The Price is Right after 35 years...
Colombia's vice president is "baffled" by Kate Moss's success following cocaine allegations...
Colombia's vice president is "baffled" by Kate Moss's success following cocaine allegations...
Jonathan Ross is dubbed "risque" by Ofcom but not in breach of rules over an interview with David Cameron...
Doctor Who takes three prizes at the National Television Awards in a repeat of its success last year...
Singer George Michael lends the piano on which John Lennon wrote Imagine to an anti-war exhibition...
The Red Hot Chili Peppers are leading the way at this years MTV Europe music awards with four nominations...
London-born rapper Sway is to be honoured at the BET Hip-Hop awards in the US...
Pioneering screenwriter Nigel Kneale, best known for the Quatermass TV serials and films, dies aged 84...
Microsoft and Peter Jackson postpone the making of a film based on the Halo video game after backers pull out...
Madonna says she may adopt another child from abroad following her proposed adoption of a Malawian boy...
The Red Hot Chili Peppers are leading the way at this years MTV Europe music awards with four nominations...
Borat creator Sacha Baron Cohen reportedly signs a $42.5m (£22m) film deal starring his character Bruno...
The Rolling Stones postpone a show in the US to allow singer Sir Mick Jagger time to rest his voice...
A musical about the witches from The Wizard of Oz breaks West End box office records, its producers say...
TV host Oprah Winfrey gives audience members $1,000 (£526) each to donate to a charitable cause...
The first stage of a £150m investment in regional museums is praised for boosting visitor numbers...
William Styron, whose Holocaust novel Sophie's Choice became a film and an opera, has died, aged 81...
The first stage of a £150m investment in regional museums is praised for boosting visitor numbers...
Veteran actor William Franklyn, known for voicing the 1960s Schweppes TV adverts, dies aged 81...
Record company EMI sign a deal with the estate of crooner Dean Martin to use the singer's likeness...
London-born rapper Sway is to be honoured at the BET Hip-Hop awards in the US...
London-born rapper Sway is to be honoured at the BET Hip-Hop awards in the US...
Pop trio Atomic Kitten will reform to play a concert in support of jailed Liverpool football fan Michael Shields...
Singer George Michael lends the piano on which John Lennon wrote Imagine to an anti-war exhibition...
The Rolling Stones postpone a show in the US to allow singer Sir Mick Jagger time to rest his voice...
Jonathan Ross is dubbed "risque" by Ofcom but not in breach of rules over an interview with David Cameron...
Jonathan Ross is dubbed "risque" by Ofcom but not in breach of rules over an interview with David Cameron...
Singer George Michael lends the piano on which John Lennon wrote Imagine to an anti-war exhibition...
The first stage of a £150m investment in regional museums is praised for boosting visitor numbers...
Jonathan Ross is dubbed "risque" by Ofcom but not in breach of rules over an interview with David Cameron...
Jonathan Ross is dubbed "risque" by Ofcom but not in breach of rules over an interview with David Cameron...
The Rolling Stones cancel a gig in Hawaii and postpone other tour dates as Mick Jagger suffers throat troubles...
Jonathan Ross is dubbed "risque" by Ofcom but not in breach of rules over an interview with David Cameron...
The judge who put coded messages in his Da Vinci Code plagiarism trial ruling has written another...
Madonna says she may adopt another child from abroad following her proposed adoption of a Malawian boy...
Microsoft and Peter Jackson postpone the making of a film based on the Halo video game after backers pull out...
William Styron, whose Holocaust novel Sophie's Choice became a film and an opera, has died, aged 81...
Classical singer Russell Watson postpones his forthcoming UK tour after undergoing brain surgery...
Doctor Who takes three prizes at the National Television Awards in a repeat of its success last year...
Veteran actor William Franklyn, known for voicing the 1960s Schweppes TV adverts, dies aged 81...
Jonathan Ross is dubbed "risque" by Ofcom but not in breach of rules over an interview with David Cameron...
Colombia's vice president is "baffled" by Kate Moss's success following cocaine allegations...
The first stage of a £150m investment in regional museums is praised for boosting visitor numbers...
The judge who put coded messages in his Da Vinci Code plagiarism trial ruling has written another...
Doctor Who takes three prizes at the National Television Awards in a repeat of its success last year...
TV host Oprah Winfrey gives audience members $1,000 (£526) each to donate to a charitable cause...
William Styron, whose Holocaust novel Sophie's Choice became a film and an opera, has died, aged 81...
Doctor Who takes three prizes at the National Television Awards in a repeat of its success last year...
William Styron, whose Holocaust novel Sophie's Choice became a film and an opera, has died, aged 81...
Pioneering screenwriter Nigel Kneale, best known for the Quatermass TV serials and films, dies aged 84...
TV host Oprah Winfrey gives audience members $1,000 (£526) each to donate to a charitable cause...
Alec Baldwin asks for his voice to be removed from an "unfair" documentary about Arnold Schwarzenegger...
Record company EMI sign a deal with the estate of crooner Dean Martin to use the singer's likeness...
Veteran actor William Franklyn, known for voicing the 1960s Schweppes TV adverts, dies aged 81...
William Styron, whose Holocaust novel Sophie's Choice became a film and an opera, has died, aged 81...
William Styron, whose Holocaust novel Sophie's Choice became a film and an opera, has died, aged 81...
Madonna says she may adopt another child from abroad following her proposed adoption of a Malawian boy...
Jonathan Ross is dubbed "risque" by Ofcom but not in breach of rules over an interview with David Cameron...
Pioneering screenwriter Nigel Kneale, best known for the Quatermass TV serials and films, dies aged 84...
William Styron, whose Holocaust novel Sophie's Choice became a film and an opera, has died, aged 81...
TV host Oprah Winfrey gives audience members $1,000 (£526) each to donate to a charitable cause...
The Red Hot Chili Peppers are leading the way at this years MTV Europe music awards with four nominations...
TV host Oprah Winfrey gives audience members $1,000 (£526) each to donate to a charitable cause...
The Rolling Stones cancel a gig in Hawaii and postpone other tour dates as Mick Jagger suffers throat troubles...
Jonathan Ross is dubbed "risque" by Ofcom but not in breach of rules over an interview with David Cameron...
Veteran game show host Bob Barker is stepping down from hosting The Price is Right after 35 years...
A musical about the witches from The Wizard of Oz breaks West End box office records, its producers say...
Singer George Michael lends the piano on which John Lennon wrote Imagine to an anti-war exhibition...
Veteran game show host Bob Barker is stepping down from hosting The Price is Right after 35 years...
Veteran actor William Franklyn, known for voicing the 1960s Schweppes TV adverts, dies aged 81...
The Rolling Stones cancel a gig in Hawaii and postpone other tour dates as Mick Jagger suffers throat troubles...
Record company EMI