The Supernova Multiplier by Robert D. Knapp

Author:Robert D. Knapp
Language: eng
Format: epub
ISBN: 9781119539773
Publisher: Wiley
Published: 2019-02-20T00:00:00+00:00

Steps Needed to Get Into a Niche

Learn the company's benefit plan. You have to become an expert on the company or business including HR benefits, retirement options, and stock options. Read their annual report. Be an expert on the things that are important to the people within that company. Knowing the details will enhance your value.

Learn the language of the company. Every company has acronyms, and you have to learn them. FAs, CAs, CSAs, admin, service—whatever they call their people, scientists, VPs, etc. If you use the wrong term, you could look like an outsider at best and at worst offend them. When I was a young FA we would have wholesaler presentations and if they referred to us as registered reps instead of FAs they immediately lost the interest of everyone in the audience.

Understand the culture of the company. Here are some examples of cultures you need to understand before you can understand the company: Merck had a famous culture which is symbolized by a statue in the front of their headquarters of a young boy leading a middle-aged blind man. The company accidentally discovered the cure for river blindness, which only affects people in remote parts of Africa. Dr. Roy Bagelos, President of Merck, decided to make the drug Mectizan available without charge because those who needed it most could not afford to purchase it. Annually the Mectizan Donation Program reaches more than 250 million people and more than 2 billion treatments have been donated since 1987. The statue is there as a reminder of their commitment to helping others in need. Their mission—“To discover, develop and provide innovative products and services that save and improve lives around the world.” When asked why he would commit to a drug that would never make a profit he said, “I had no choice. My whole life has been dedicated to helping people and this was it for me.” Jimmy Carter stated, “Merck's gift to the World Health Organization is more than a medical breakthrough—it is truly a triumph of the human spirit.”1

McKinsey & Company, which has a culture of excellence, fires the bottom 10% of their staff every year with the express purpose of making everyone understand that mediocrity will not be accepted.

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