Known as the most innovative industry for much of the commercial world from the 1950’s, consumer goods have got caught napping.
Retailers are cutting their lunch through some classic backwards vertical integration – that is, making the products their suppliers make.
So my question is this, why aren’t the global fast moving consumer goods companies taking on the retailers at their own game? What they should do is simple. Develop a consortium of supermarket suppliers and buy a supermarket chain. The missing link in their marketing mix – distribution control. They need to get back some control at the retail level or the long term picture is one of reduced shelf space, and more retailer erosion of their business. Consumer goods companies need to compete with their retailers in the same way the retailers compete with them.
If you want to be a body builder act as if you are one
If you want to be learned, act as learned people do
If you want to a musician, act as musicians do
If you want to be an entrepreneur, act like an entrepreneur does.
If you want to be any of the things above, act as if you already are one.
So what do they do?
What do body builders do? Body builders go to the gym every day. They focus on lifting heavy weights. They eat at least 1 gram of protein per kg of body weight every day. They study the human body and understand the intricacies in making it grow. They stay the course for many, many years before they acheive their maximum natural physique. They invest time with people who also body build.
What do learned people do? Learned people view study as an on going vocation. They continue formal education at post graduate levels. They study both formally and informally. They watch documentaries, and read books every day of their life. They are interested in wide and varied topics of interest. They desire to stretch their brain capacity and challenge it daily. They are good at listening and are open to new ideas. They invest time with people who are also learned.
What do musicians do? They learned to play an instrument. Sometime they learned to play multiple instruments. They obsess over playing these instruments, until they have mastered it. But they never stop progressing. They join bands and musical groups and play gigs, no matter hat level of proficiency they are at. They watch other bands play, and listen to music all the time. They spend time with other musicians. They dedicate their life to music.
What do entrepreneurs do? They learn about business, marketing and finance. They think of new business ideas and keep a journal of these ideas. They write business plans to make their ideas a reality. They start lots of little ventures, of which many fail and keep on starting up again. They learn about raising capital and cashflow. They have a day job which bnuilds relevant skills for starting a business.. They’re frugal and save their money. Each startup they do, gets them one step closer to success. They love the thrill of new ventures and hang out with other like minded people. They trade ideas on business, and learn how to bootstrap. They are more excited by doing cool stuff, than buying cool thinbgs.
If you want to become, you must act as they do. Even if you are not the person described above, act as if you are, and you shall become.