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Commoditized Hell? Here s What You Must Do with Don McNeeley

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Manage episode 177247791 series 1059883
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Don Mcneeley Value Proposition Pic

Has the term commodity ever been used to describe what it is you sell? Have your customers said in no uncertain terms I get get the same thing down the street for less? Or how about your sales team, have they come to believe that the only way they can sell this stuff is if you management, get them a better product at a cheaper price?

If any of these resonate with you, you ve found yourself in commoditized hell.

As our guest Don McNeeley, President and CEO of Chicago Tube and Iron (CTI) demonstrates in this episode, over time every company and every industry will go from selling a differentiated product to a commoditized product. And then margins compress.

I think we just captured the story of many distributors. Many businesses.

So what must we do?

The desk plaque on IBM founder Thomas Watson s desk that read Think comes to mind.

And Don McNeeley is one of the better thinkers when it comes to constant innovation to address head on the commoditization of his business. He blends the best academic research and understanding from his work teaching at Northwestern s McCormick School of Engineering and the reality of leading a business that sells and distributes what many consider commoditized tubing, pipe and bar.

But CTI is anything but commoditized. In this episode I discuss with Don the foundational root causes of commoditization and how every leader in distribution can and must put the customer at the center of their innovation efforts to premeditate your next iteration of differentiation.

In this 40 minute episode Don and I discuss:

  • Why many businesses are trapped in a world of sameness
  • The root cause of commoditization
  • The six points of differentiation
  • Why its better to be different than better
  • Why faster trumps bigger
  • How to put the customer at the center of innovation
  • The importance of controlling your brands narrative
  • 4 stages of brand awareness
  • Why the customer is not always right
  • Developing partnerships with customers

The Show Notes

Other Episodes In The 5 Part Don McNeeley Podcast Series

Links will be provided with each episode broadcast.

Download Transcript

Members of the free UnleashWD Online community have access to this transcript.

Members Download Transcript Here

Not A Member? Claim Your Free Membership Here

The post Commoditized Hell? Here s What You Must Do with Don McNeeley appeared first on Dirk Beveridge.

  continue reading

100 episodes

Artwork
iconShare
 

Archived series ("HTTP Redirect" status)

Replaced by: The Latest From Business RadioX ®

When? This feed was archived on June 27, 2018 06:04 (6y ago). Last successful fetch was on June 25, 2018 11:42 (6y ago)

Why? HTTP Redirect status. The feed permanently redirected to another series.

What now? If you were subscribed to this series when it was replaced, you will now be subscribed to the replacement series. This series will no longer be checked for updates. If you believe this to be in error, please check if the publisher's feed link below is valid and contact support to request the feed be restored or if you have any other concerns about this.

Manage episode 177247791 series 1059883
Content provided by Dirk Beveridge. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Dirk Beveridge or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.

Don Mcneeley Value Proposition Pic

Has the term commodity ever been used to describe what it is you sell? Have your customers said in no uncertain terms I get get the same thing down the street for less? Or how about your sales team, have they come to believe that the only way they can sell this stuff is if you management, get them a better product at a cheaper price?

If any of these resonate with you, you ve found yourself in commoditized hell.

As our guest Don McNeeley, President and CEO of Chicago Tube and Iron (CTI) demonstrates in this episode, over time every company and every industry will go from selling a differentiated product to a commoditized product. And then margins compress.

I think we just captured the story of many distributors. Many businesses.

So what must we do?

The desk plaque on IBM founder Thomas Watson s desk that read Think comes to mind.

And Don McNeeley is one of the better thinkers when it comes to constant innovation to address head on the commoditization of his business. He blends the best academic research and understanding from his work teaching at Northwestern s McCormick School of Engineering and the reality of leading a business that sells and distributes what many consider commoditized tubing, pipe and bar.

But CTI is anything but commoditized. In this episode I discuss with Don the foundational root causes of commoditization and how every leader in distribution can and must put the customer at the center of their innovation efforts to premeditate your next iteration of differentiation.

In this 40 minute episode Don and I discuss:

  • Why many businesses are trapped in a world of sameness
  • The root cause of commoditization
  • The six points of differentiation
  • Why its better to be different than better
  • Why faster trumps bigger
  • How to put the customer at the center of innovation
  • The importance of controlling your brands narrative
  • 4 stages of brand awareness
  • Why the customer is not always right
  • Developing partnerships with customers

The Show Notes

Other Episodes In The 5 Part Don McNeeley Podcast Series

Links will be provided with each episode broadcast.

Download Transcript

Members of the free UnleashWD Online community have access to this transcript.

Members Download Transcript Here

Not A Member? Claim Your Free Membership Here

The post Commoditized Hell? Here s What You Must Do with Don McNeeley appeared first on Dirk Beveridge.

  continue reading

100 episodes

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