Jeff Hayzlett, the most recent CMO of Eastman Kodak, came to Nashville and the Nashville Technology Council this past Friday to part some wisdom about creating change and launch his new book, The Mirror Test.
I now see why people say Jeff is a Chief Marketing Officer on steroids. He’s intense.
He started out asking a question that set a tone for change. “How many people bought film this past year?” Not one person in the crowd raised their hand.
He then asked, “How many people took digital photos or own a digital camera?” Of course every single hand went up.
Yes, the business of film had almost completely dissipated. Jeff said 5 years ago Kodak did over $15 billion in sales from film. This year they would do $200 million.
He then took us through his story of creating change at Kodak. Pretty cool. Pretty bold. Here’s the cliff notes –
Regarding Proof of Life –
Why are you in the game? Not a bad question to remind yourself what business are you in? If Kodak answered this by saying they were in the film business then they may have sold their naming right by now or closed altogether. Instead they made a decision to be in the memory business.
Develop a new elevator pitch. He coined it “Your 118”. Hook me in 8 seconds (average attention span) and you have 110 seconds to sell me (average length of NYC elevator ride).
Regarding leadership –
Set clear Conditions of Satisfaction. Read his book on this one. It’s fundamental and a smart way to approach the promise made to your customers.
Cause tension. Don’t break glass but stretch it. This ensures you and your team stay sharp and are always getting better.
Be you you are but find the slowest common denominator (the person on your team that is the slowest) and fire them. He called it, “We love you but we’ll miss you”.
No one is going to die. Quit delaying decisions in fear they may fail. Some will. Move on. No one is going to die.
Six Rules to Remember
1. Ask employees
2. Involve everyone and make it a priority
3. Chart progress
4. Reward good behavior
5. Fire people (and clients)
6. Remember. Mood is everything.
Better is better.
Buzz is not sales.
What is your operating philosophy? For Kodak is became FAST – Focus. Accountibility. Simplicity. Trust. If you have trust then you should encourage healthy debates. Even with the top-cheese.
Never compete on price (whoo-hoo).
3 Customer Nevers
Take a customer for granted…trust!
Never really assume you know your customer.
Never really stop selling your company…and you!
After that he yelled and karate chopped a table in half. Not really. But he left the crowd pretty stoked about creating change.
One last note, he signed his book I bought by writing “Go FOG yourself”. Read the book.