Never underestimate the power of a brand name, even if what underlies it is not good.
Huh!
Arise, Mr. Bernie Madoff, a man whose reputation – his brand and brand name – evoked commentary like “pillar of Wall Street,” “the best of the best,” “a huge figure on Wall Street” and a man “who inspired confidence.”
Richard Nixon once in recounting the famous quote, “You can fool all of the people some of the time and some of the people all of the time” allegedly told a speech writer to concentrate on the latter group. Well this Madoff creep seems to have done that and oh how horribly successfully. This man’s brand image was so powerful that it appears even the SEC were in awe of him and failed to act on a number of tip offs.
We all need heroes. They help us to believe in our version of Santa Claus and sometimes even motivate us to great things, but the level to which people are put on a pedestal, which is then rarely checked for cracks is a human trait that can horribly backfire.
I still remember the first time I became aware of Enron’s Jeffrey Skilling. It was a few years before his downfall in the most notorious financial scandal of the decade. I happened on the latter part of an interview on a cable financial show as the interviewer fawned over him. It was actually the level of obsequiousness that first got my attention. ‘Who is this guy I thought?’ He is being treated like a god.’ And indeed that is how it continued until the walls came tumbling down. The brand image, the aura that surrounded him seemed to ensure a Teflon type of reporting and investigation, exactly the same as with Madoff. New York Attorney General Elliot Spitzer was not only treated like a god, he thought he was one.
I’m struggling for a moral in all of this.
I do want Barack Obama to be as good as his brand is suggesting (that would mean he IS God), I do want Jamie Dimon to be the financial genius and guru that Wall Street claims him to be and in the light of Elliot Spitzer, I pray Patrick Fitzgerald has no skeletons in his closet.
I am one of the world’s great optimists. I KNOW my next golf shot will be my best one. I KNOW I will get home before the snow storm strikes. I KNOW my next pint of Guinness will be just magical (you don't have to be an optimist to know that). The problem with all of these scandals is that I’m starting to KNOW that I need to be a bit more circumspect, but I pray I will always return to “Yes Virginia, there is a Santa Claus.”
Thursday, December 18, 2008
Tuesday, December 16, 2008
Praise the Lord - The Pint is Safe
As a keynote speaker and business humorist, I quite often speak on Change and how business must adapt to change. However, some things should not be changed. Never. Ever. Not even after that. One of those is the “pint,” as in the pint measure of Guinness.
As part of European Union membership, Ireland adopted the metric system some years ago. State roads have switched to kilometers and weights are now in kilos. The imperial measure of lbs. and ounces has gone the way of Rod Blagojevich. Today, you buy your soft drinks and petrol (OK gas) in liters, everything except, praise the Lord, the pint of Guinness.
Yes, in a milestone announcement, the Brussels bureaucrats have said the “pint” is safe and no self respecting Irishman will be forced to ask for a ‘half liter of Guinness barman.’ For those of you who wonder why this evokes such an emotional response from all right thinking Irishmen and Irishwomen I offer you the following excerpt on the Brand Experience from my book Why Ireland Never Invaded America. Enjoy, preferably with a beautiful, smooth pint of Guinness at your fingertips.
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
Sitting at the bar, Jake scanned the interior of the
pub. Walls were covered with framed photographs
of sporting occasions; many were sports Jake had
difficulty comprehending. Sports jerseys bearing the
logo, “Jack McCarthy’s Bar,” bedecked the far wall.
“Finbarr, a person could die of thirst here. How
long does it take to pour a pint of Guinness?”
“Jake, you are a heathen. Do you not know that
Guinness is a religious experience, man? It is also a
cultural experience and a work of art. You cannot,
Jake, you cannot rush a work of art, no matter how
much you want to. Can you imagine how da Vinci
would have felt, when painting the Mona Lisa, like, if
he got a phone call from his patron to say, ‘Hey, Leo,
is da painting of me missus ready yet?’ He wouldn’t
have been too impressed, me lad, not too impressed
at all. It’s the same with this black magic we are
waiting on. Guinness isn’t just a product. It is an
experience, and that, me boyo, is what you should be
offering your customers with your products—an
experience. You’ve got to give them a reason to
purchase beyond just the core product.”
Two pints of Guinness appeared in front of the
cousins. Jake moved to lift his pint and was gently
chided by Finbarr.
“Take it easy, man. Just look at that work of art in
front of you. Appreciate it. Don’t drink it yet, it hasn’t
settled. Look. Look and wonder at the way those tiny
orphan bubbles are moving through the glass,
seeking rest in some Guinness wonderland. When
those bubbles finally cease, when those brown clouds
finally settle, when you have a clean black beautiful
pint in front of you, that—Jake, that, is when you
raise the magical brew to those parched lips of yours.”
“Jeez, you’re making this like a sacred
experience.”
“And is it not?” said Finbarr, his voice rising in
mock horror. “You know, we have numerous
Guinness connoisseurs who come in here every
night, not for the drink mind, but just to be able to
watch—and wonder—and wait, as their pint of
Guinness settles.”
“Yeah, right. Of course, to appreciate that a few
times a night, they have to drink the pint.”
“That’s right. That’s right. But that’s only an afterthought,
a side benefit, like. I reckon those guys
would rather watch the pint settle than look at
Pamela Anderson.”
“They’re obviously perverts, Finbarr. Now do you
Why Ireland Never Invaded America
mind if I take my first drink?”
“Knock it back, Jake. You deserve it. But when
doing it, remember, that it’s more than the product
you are consuming.”
Jake sipped at the creamy pint and wiped his
upper lip in appreciation.
“It’s like mother’s milk, isn’t it, Jake?”
“Yeah, it’s good stuff. Guinness must be one of
the best known brands in the world, Finbarr.”
“That’s right. That’s right. You know you can
debate until the cows come home how Guinness
developed the image and loyalty it has today, but
whatever it is, Guinness and a small number of other
brands have a unique magic which ensures that their
consumer pull—brand loyalty if you like—is much
greater than it logically should be. A kind of ‘je ne
sais quoi’ if you will.”
“Ooh, that’s pretty posh.”
“Shut up and drink your pint. I’m trying to be
serious here. You can’t put a value on that brand
magic. It’s what Harley-Davidson has got and it’s
what Starbucks has got. Jake, if you could ever
develop a sense of magic around your brand, that is
when you will start to make some real money,
because consumers will be buying your product—
not for its core, but for something intangible.”
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
Makes you thirsty, doesn't it?
As part of European Union membership, Ireland adopted the metric system some years ago. State roads have switched to kilometers and weights are now in kilos. The imperial measure of lbs. and ounces has gone the way of Rod Blagojevich. Today, you buy your soft drinks and petrol (OK gas) in liters, everything except, praise the Lord, the pint of Guinness.
Yes, in a milestone announcement, the Brussels bureaucrats have said the “pint” is safe and no self respecting Irishman will be forced to ask for a ‘half liter of Guinness barman.’ For those of you who wonder why this evokes such an emotional response from all right thinking Irishmen and Irishwomen I offer you the following excerpt on the Brand Experience from my book Why Ireland Never Invaded America. Enjoy, preferably with a beautiful, smooth pint of Guinness at your fingertips.
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
Sitting at the bar, Jake scanned the interior of the
pub. Walls were covered with framed photographs
of sporting occasions; many were sports Jake had
difficulty comprehending. Sports jerseys bearing the
logo, “Jack McCarthy’s Bar,” bedecked the far wall.
“Finbarr, a person could die of thirst here. How
long does it take to pour a pint of Guinness?”
“Jake, you are a heathen. Do you not know that
Guinness is a religious experience, man? It is also a
cultural experience and a work of art. You cannot,
Jake, you cannot rush a work of art, no matter how
much you want to. Can you imagine how da Vinci
would have felt, when painting the Mona Lisa, like, if
he got a phone call from his patron to say, ‘Hey, Leo,
is da painting of me missus ready yet?’ He wouldn’t
have been too impressed, me lad, not too impressed
at all. It’s the same with this black magic we are
waiting on. Guinness isn’t just a product. It is an
experience, and that, me boyo, is what you should be
offering your customers with your products—an
experience. You’ve got to give them a reason to
purchase beyond just the core product.”
Two pints of Guinness appeared in front of the
cousins. Jake moved to lift his pint and was gently
chided by Finbarr.
“Take it easy, man. Just look at that work of art in
front of you. Appreciate it. Don’t drink it yet, it hasn’t
settled. Look. Look and wonder at the way those tiny
orphan bubbles are moving through the glass,
seeking rest in some Guinness wonderland. When
those bubbles finally cease, when those brown clouds
finally settle, when you have a clean black beautiful
pint in front of you, that—Jake, that, is when you
raise the magical brew to those parched lips of yours.”
“Jeez, you’re making this like a sacred
experience.”
“And is it not?” said Finbarr, his voice rising in
mock horror. “You know, we have numerous
Guinness connoisseurs who come in here every
night, not for the drink mind, but just to be able to
watch—and wonder—and wait, as their pint of
Guinness settles.”
“Yeah, right. Of course, to appreciate that a few
times a night, they have to drink the pint.”
“That’s right. That’s right. But that’s only an afterthought,
a side benefit, like. I reckon those guys
would rather watch the pint settle than look at
Pamela Anderson.”
“They’re obviously perverts, Finbarr. Now do you
Why Ireland Never Invaded America
mind if I take my first drink?”
“Knock it back, Jake. You deserve it. But when
doing it, remember, that it’s more than the product
you are consuming.”
Jake sipped at the creamy pint and wiped his
upper lip in appreciation.
“It’s like mother’s milk, isn’t it, Jake?”
“Yeah, it’s good stuff. Guinness must be one of
the best known brands in the world, Finbarr.”
“That’s right. That’s right. You know you can
debate until the cows come home how Guinness
developed the image and loyalty it has today, but
whatever it is, Guinness and a small number of other
brands have a unique magic which ensures that their
consumer pull—brand loyalty if you like—is much
greater than it logically should be. A kind of ‘je ne
sais quoi’ if you will.”
“Ooh, that’s pretty posh.”
“Shut up and drink your pint. I’m trying to be
serious here. You can’t put a value on that brand
magic. It’s what Harley-Davidson has got and it’s
what Starbucks has got. Jake, if you could ever
develop a sense of magic around your brand, that is
when you will start to make some real money,
because consumers will be buying your product—
not for its core, but for something intangible.”
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
Makes you thirsty, doesn't it?
Sunday, December 14, 2008
Running Down Your Dream
I was a guest yesterday on WGN’s The Money Show hosted by Bill Moller which for the month of December morphs into a show titled Running Down Your Dream co-hosted by Jeff Carroll. The show focuses on finding your passion and re-inventing yourself if you feel the need. I’ve guested for the past three years as an example of a corporate exec who re-invented himself as a humorous, inspirational, motivational, Chicago based Irish keynote speaker. (Sorry for that hyperbole, but it might help with search engines when someone is seeking a Chicago based Irish humorous, inspirational keynote speaker who is motivational and not afraid to blatantly repeat these terms in his blog!!)
Bill and Jeff have definitely hit a nerve as we were inundated with phone calls from people who feel either stuck at where they are or, have moved on to better things. Not surprisingly, the impact of the current economic climate was also a hot topic with some callers feeling lost. So if you’re one of those, here’s my two shillings worth – as we used say back in Ireland.
You have been through worse and you came out of it OK. You will this time. For those of you who respond, “I’ve never been experienced worse than this,” well other people have and they have come through it OK. So will you.
As I slide gracefully into middle-age, (dream on Conor) I appreciate more than ever that we are living in a ‘vale of tears’ and that everyone, yes EVERYONE hits a speed bump or a pot hole at some stage in life. I’m not wise enough to know when you will overcome that speed bump or pot hole, but I do know that almost everyone else has overcome their respective challenges over the years.
You will too. Believe in yourself.
Bill and Jeff have definitely hit a nerve as we were inundated with phone calls from people who feel either stuck at where they are or, have moved on to better things. Not surprisingly, the impact of the current economic climate was also a hot topic with some callers feeling lost. So if you’re one of those, here’s my two shillings worth – as we used say back in Ireland.
You have been through worse and you came out of it OK. You will this time. For those of you who respond, “I’ve never been experienced worse than this,” well other people have and they have come through it OK. So will you.
As I slide gracefully into middle-age, (dream on Conor) I appreciate more than ever that we are living in a ‘vale of tears’ and that everyone, yes EVERYONE hits a speed bump or a pot hole at some stage in life. I’m not wise enough to know when you will overcome that speed bump or pot hole, but I do know that almost everyone else has overcome their respective challenges over the years.
You will too. Believe in yourself.
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