Market Research
May 2, 2008
Fortune Magazine
"The Best Advice I Ever Got"
In This Issue
"The Best Advice I Ever Got" From Fortune
My Favorite
Share Your Favorite
More About Market Directions
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Greetings!
 

This weeks Fortune had a feature story about leaders in business and other areas who share "The Best Advice I Ever Got." 

 

I found the article motivating and reinforcing.  Motivating because I am an entrepreneur and I look to others to understand what it takes to succeed and reinforcing because a lot of the statements reinforce the strengths of market research in business. 

 

Here is a summary about the advice that most influenced their lives: 

. 
 
Sincerely,
 

Mary Malaszek
617-323-1862
 "The Best Advice I Ever Got"   From Fortune
 

First, always ask for the order, and second, when the customer says yes, stop talking. 

 

Michael Bloomberg, Mayor of NYC and Founder of Bloomberg, LP

 

Good story, but it's hard to look smart with bad numbers.  You have to focus on the underlying substance. 

 

Mark Hurd, Chairman and CEO, Hewlett Packard

 

I've noticed that some of the most effective leaders don't make themselves the center of attention.  They listen. 

 

Sam Palmisano, Chairman and CEO, IBM

 

Experiencing that not everyone saw the world the same was preparation. 

 

General David Petraeus, Commanding General, Multinational force-Iraq

 

Don't spend your time on things you can't control.  Instead spend your time thinking about what you can.

 

Thomas S. Murphy, Former CEO, Capital Cities/ABC

 

"To thine own self be true"

 

Bob Iger, President and CEO, Walt Disney

 

The best way to lower risk is to specialize:  Put the things you love into one portfolio.

 

Zhang Xin, Co-foudner and CEO SOHO China

 

Spend a ton of time with your customers.

 

Charlene Begley, President and CEO, GE Enterprise Solutions

 

I was advised to use my dry sense of humor . . .

 

Criag Newmark, Founder Craigslist

 

Focus on those things you do better than others.

 

Peter G. Peterson, Co-Founder and Senior Chairman, Blackstone Group

 

Never take the last dollar off the table.  In my dealings to sell Bebo [to AOL], this advice was critical.  You can always do a slightly better deal, but that incremental dollar or windfall is not worth creating an imbalance that affects the relationship.

 

Joanna Shields, President, BEBO.com

Don't panic.

Elon Musk, Founder and CEO, SPACEX

My Favorite 
 
The quotes highlighted in purple, are the quotes that I think relate to emphasizing market research and what good data, integrating the voice of the customer and observation (qualitative research) can do to help your company grow and move forward.  My favorite is number two. 
 

Good story, but it's hard to look smart with bad numbers.  You have to focus on the underlying substance. 

 

Mark Hurd, Chairman and CEO, Hewlett Packard

 

What's your favorite? 

 Share Your Best or Worst Advice. 
 

What's your favorite?  Would you like to share "The Best Advice You Ever Got?"  Click here. 

More About Market Directions
 
Market Directions is a full service custom market research firm that helps companies to identify and clarify distinct marketplace opportunities.  We are primarily focused on the functions that touch customers - - - marketing, sales, product placement and customer service. 
 
Since 1994, we have enabled organizations, both large and small, to understand their customers
in new ways. By asking the right questions and analyzing the answers, our unique, hands-on methodology enables CFOs, as well as senior marketing and sales executives, to significantly increase sales and gain measurable competitive advantage. 
  
 

DeliverWe do this by using a variety of market research tools-from individual interviewing to broad-based electronic data gathering-and present our clients with new, exciting, and profitable ways to understand their customers and their environments.

 

Our promise to you? That as a result of our work, you will understand your customers and your business in a whole new way. You will see your products and services as your key customers see them, and, armed with this critical information, that you will save both money and time, delivering your products to new markets of eager, highly-qualified buyers.