I look at Peter Drucker’s Wikipedia page from time to time to research an idea or remind myself of some idea that he shared with us that still feels fresh today.
The section that really sticks with me is the one that shares his major topics.
From time to time, I like to revisit my own work and thinking to see where I am at in my thinking as well.
Here’s my list for 2023:
- The most important thing is the customer. What the customer wants. What the customer values. What we can give the customer.
- Process. Process. Process. Not because the process is restrictive, but because it is a way to create freedom.
- Pricing is marketing’s MVP moment. Because that is where you capture some of the value your marketing has created.
- Planning is procrastination. Strategy never stops.
- Most markets need more competition. Consolidation has gone too far and too many people can’t even see it.
- A healthy business can’t live in a sick society. I believe this started as something that Drucker said, but as we’ve seen the last decade or so with the deterioration of trust in institutions, education, governments, and more, the idea has really kept returning to me.
- Value. Value. Value. That’s the beginning and ending of everything.
- The need for constant renewal and education. You can’t stand still.
- The lack of innovation due to the extreme consolidation of markets. There’s no need for competition. So innovation suffers.
- The need for the simplicity of strategy. Strategy needs to be simple enough to be executed.
- There is no such thing as a commodity. Only poor marketing.
- Brands matter because without a brand you are a commodity.
- All businesses are in the business of brand management.
This is where I am right now.
Also, I’m doing a survey on pricing to help me create some new content and new teachings around pricing. It will take you about 60 seconds to complete and I’ll be grateful for your time.