Leaning Toward Wisdom
4002 – Without The Field, There Are No Champions (All Super Heroes Need A Nemesis)
Jul 22, 2013 · 25 min
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Strength of the champion is determined by strength of the field Competition is a dirty word among a large number of younger entrepreneurs. Admittedly, I don't get it. But I'm no longer a young entrepreneur. Besides that, I grew up in retailing where it was dog eat dog. When I was about 27 I was courted by a large retailer out of the west coast. During an interview at DFW International Airport I was asked about how I viewed merchandising. In particular, I was asked how I felt about retail pricing. Not knowing exactly what the CEO meant, I paused and listened. Without allowing time for a response, and realizing that his question was clear as mud, he said, "We want our competition to open the paper and choke on their coffee at how low our prices are." Even though I had over a decade of retailing expertise by this point, I had a keen awareness of how to be profitable in retailing. I knew if you were not the low cost leader, with all the associated scope and scale kind of advantages (think Wal-Mart), then it was a losing game. By the way, without answering his question, I politely informed him that I wasn't likely the guy he was looking for. After a nice visit we boarded our respective planes and went our separate ways. Within a few years his company filed bankruptcy. There are winners and losers in every area of endeavor. We see it most vividly in sports because there are televised games that have a beginning, an end and a scoreboard. We know who won. We know who lost. Some games come down to the wire. Others appear to be over early on. Championships, on the other hand, are usually determined over a prolonged series of competitions. Wal-Mart began in  a little Arkansas town, Rogers, back in 1962. By 1980 they had reached the billion dollar mark, the fastest any company had reached that milestone. In 1983 the first Sam's Club was built in Midwest City, OK and in 1988 the first Wal-Mart SuperCenter opened combining general merchandise with a full-blown grocery store. In 1990 Wal-Mart was the champion, the number one retailer! It took them 28 years and during that time they bested various competitors. Today, they're still battling hard against discount chains and grocery chains. In retailing, champions don't last forever. Study a company you've never heard of called Korvettes. Champions need competition. Good competition. If the competition is weak, the championship is considered weak. Already I've heard some in tennis talking about the men's and women's Wimbledon champions. Many big name players were eliminated early on. A few commentators have noted that the current champions had a path to the championship that may be unlikely in the future. I don't know about that because I'm not a tennis expert, but I understand the concept. If the field is weak, the champion doesn't stand out quite as much. Fact is, champions need the field. If there is no field - no competition - then there can be no champion. Win-Win Of or being a situation in which the outcome benefits each of two often opposing groups Guaranteeing a favourable outcome for everyone involved I have no idea who first came up with the "win-win" phrase, but it was likely a politician or a savvy negotiator. Whoever it is, I wouldn't trust them as far as I could throw them. They've likely set the world record for duping people. It's a pleasant thought. Nobody loses. Everybody wins. It's a lie. No, it's  not impossible for everybody to come out ahead in a single scenario, but we can't all be champions. A few weeks ago the Dallas Stars Hockey Club facillitated a trade with the Boston Bruins. Both teams traded away skilled players in order to get from the other, different skilled players. Most hockey experts felt each team did well and improved their roster. However, many feel Dallas may end up with the better of it IF the main player involved, Tyler Seguin, pans out. He's only 21 and has a reputation as party animal. Minor details,
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