Thread
The CEO of a $1B bank threatened us:
Make $300M in 6 months or get laughed out of the bank.
Here’s the story (& how NOT to build your business):
Make $300M in 6 months or get laughed out of the bank.
Here’s the story (& how NOT to build your business):
It was the first time without a gun to my head.
I went from almost being fired from Deloitte, to one of the top consultants in the strategy practice.
It's 2019. I relaxed by the pool in sunny Florida.
Yet - I'm seconds away from a call that destroys the calm.
I went from almost being fired from Deloitte, to one of the top consultants in the strategy practice.
It's 2019. I relaxed by the pool in sunny Florida.
Yet - I'm seconds away from a call that destroys the calm.
It's the partner.
I step away from the pool.
"The CEO of a $1B+ Mexican bank just called. We need to make them $300M in 8 months.
We need our top consultants on this.
You’re going to Mexico on Monday."
Stepping on that flight was about to put chaos back in my career.
I step away from the pool.
"The CEO of a $1B+ Mexican bank just called. We need to make them $300M in 8 months.
We need our top consultants on this.
You’re going to Mexico on Monday."
Stepping on that flight was about to put chaos back in my career.
So I meet the partner at the Mexico City airport.
He debriefs me on the project as we head to the client site.
Making the bank $300M sounds big.
But we've done this before at a bunch of companies.
Whether it's $1M or $300M we have a standard process:
He debriefs me on the project as we head to the client site.
Making the bank $300M sounds big.
But we've done this before at a bunch of companies.
Whether it's $1M or $300M we have a standard process:
A business calls us:
"Hey - We launched products.
Tried to do it ourselves, but we're losing money fast. Can you fix?"
So we:
• Analyze what happened
• Find problems
• Implement processes
• Track outcomes
We've seen what works and doesn't.
But this project is different.
"Hey - We launched products.
Tried to do it ourselves, but we're losing money fast. Can you fix?"
So we:
• Analyze what happened
• Find problems
• Implement processes
• Track outcomes
We've seen what works and doesn't.
But this project is different.
So anyway, in walks my new manager.
I'd heard of this guy before.
Everyone tells me he's a legend.
This project is all over the news so we had to bring in our best people.
He asks, "Can we chat?"
That chat was about to change my life trajectory.
I'd heard of this guy before.
Everyone tells me he's a legend.
This project is all over the news so we had to bring in our best people.
He asks, "Can we chat?"
That chat was about to change my life trajectory.
I can't control my nerves.
I'd heard so much about this guy I need to leave a good impression.
He asks “what do you want to do with your career?”
I tell him I love this “Strategy” stuff and I want to be a consulting partner.
Now this next sentence changes my career plans:
I'd heard so much about this guy I need to leave a good impression.
He asks “what do you want to do with your career?”
I tell him I love this “Strategy” stuff and I want to be a consulting partner.
Now this next sentence changes my career plans:
“What? This stuff isn’t strategy.
This is execution.
We’re not even talking about differentiation.”
In that moment I realized my view of the business world was missing big pieces 🤯
This is execution.
We’re not even talking about differentiation.”
In that moment I realized my view of the business world was missing big pieces 🤯
You see, if business is a boat race, my mission was to help them win - FAST
But, I learned the race has two parts:
1) choose a boat
2) row hard
Warren Buffett says:
"It doesn't matter how hard you row, it matters what boat you choose."
I helped businesses row. Not anymore.
But, I learned the race has two parts:
1) choose a boat
2) row hard
Warren Buffett says:
"It doesn't matter how hard you row, it matters what boat you choose."
I helped businesses row. Not anymore.
Now, most businesses launch their product without clear differentiation.
They're shocked when customers:
• Don't buy
• Run to competitors
• Push back on pricing
If their row boat isn't differentiated, the one with the motor will win
And we're about to give this bank a motor
They're shocked when customers:
• Don't buy
• Run to competitors
• Push back on pricing
If their row boat isn't differentiated, the one with the motor will win
And we're about to give this bank a motor
It's 1AM in the board room.
We're reviewing revenue from each product.
Nothing gets a business to change faster than expecting revenue that doesn't come.
So my manager sees his chance.
"Man, we're not going to make $300M.
We need to differentiate."
Client: "Let's do it."
We're reviewing revenue from each product.
Nothing gets a business to change faster than expecting revenue that doesn't come.
So my manager sees his chance.
"Man, we're not going to make $300M.
We need to differentiate."
Client: "Let's do it."
So we build a proposal overnight:
• Find target customers
• Find their pain
• Create solutions for the pain
• Message how our solution is their best option
Make them $300M and we're their right-hand advisor.
Miss and we're laughed out of the bank.
And we've wasted 2 months
• Find target customers
• Find their pain
• Create solutions for the pain
• Message how our solution is their best option
Make them $300M and we're their right-hand advisor.
Miss and we're laughed out of the bank.
And we've wasted 2 months
So we launch the project.
Before - the client came up with good ideas and launched them.
Now, we differentiate:
• Which customer?
• What problem?
• How are we solving the problem (better than anyone)?
Now customers know why we're the best option.
And...
Before - the client came up with good ideas and launched them.
Now, we differentiate:
• Which customer?
• What problem?
• How are we solving the problem (better than anyone)?
Now customers know why we're the best option.
And...
Sales come in.
We start to turn the business around.
For the first time, the CEO is happy with the updates.
We're called in to the C-suite boardroom.
We've become their right-hand advisor.
We start to turn the business around.
For the first time, the CEO is happy with the updates.
We're called in to the C-suite boardroom.
We've become their right-hand advisor.
We became the C-suite advisor because we helped them design the winning boat.
But small businesses can't afford experienced teams to differentiate their business.
This team costs over $200,000 a month.
I was on that team.
And I want to give you access to our methods for free.
But small businesses can't afford experienced teams to differentiate their business.
This team costs over $200,000 a month.
I was on that team.
And I want to give you access to our methods for free.
My mission is to even the playing field for founders & small business owners.
So I share tips to differentiate your business to build a raving customer-base.
Join 10,000+ others here (for $0): brianfoconnor.beehiiv.com/subscribe
So I share tips to differentiate your business to build a raving customer-base.
Join 10,000+ others here (for $0): brianfoconnor.beehiiv.com/subscribe
That's a wrap!
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1. Give me a follow for more to grow your business →
@BrianFOConnor
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Here's the link to go back to the top:
If you found this thread valuable:
1. Give me a follow for more to grow your business →
@BrianFOConnor
2. Retweet the top tweet to bookmark and share with others
Here's the link to go back to the top:
