PEAK. Chip Conley. Moving from "Survive" to "Thrive": Learning from the Past to Improve Your Future. Founder & CEO Joie de Vivre

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1 PEAK Moving from "Survive" to "Thrive": Learning from the Past to Improve Your Future Chip Conley Founder & CEO Joie de Vivre

2 We deal with disappointing and depressing experiences each day of our lives. Rest assured that these difficult times are your opportunity to grow and to learn more advanced strategies in order to scale your next mountain more quickly. - Michelle C. Ustaszeski, author of Scaling Life s Mountains

3 Life, and business, is all about where you pay your attention.

4 Just as people experience varying levels of fulfillment

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6 so do companies.

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8 CALLING CAREER JOB

9 My calling in life? Create Joie de Vivre!

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11 You are where you sleep.

12 Boutique hotels are mirrors for the aspirations of their customers and create an Identity Refreshment Psychographics vs. Demographics

13 We grew into one of the three most prominent boutique hoteliers in the U.S. with 20 properties by the year 2000.

14 Service Profit Chain Developing Strong Customer Loyalty Building an Enthusiastic Staff 2 3 Maintaining a Profitable & Sustainable Business 4 Creating a Unique Corporate Culture 1 Joie de Vivre Heart : Karmic Capitalism

15 By early 2001, JDV was flying high.

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19 Joie de Vivre = Self Actualization SELF ACTUALIZATION Where peak experiences occur ESTEEM SOCIAL / BELONGING SAFETY PHYSIOLOGICAL MASLOW S HIERARCHY OF NEEDS PYRAMID

20 If humans aspire to self-actualization, why can t companies which are really just a collection of people aspire to this peak, too? WHAT DOES A SELF-ACTUALIZED COMPANY LOOK LIKE?

21 A great leader knows how to tap into potential and actualize it into reality. A great business leader deeply understands the motivations of their employees, customers and investors.

22 IDENTITY REFRESHMENT SELF ACTUALIZATION FEELING LIKE A VIP ESTEEM RESPONSIVE STAFF SERVICE SOCIAL/BELONGING A QUIET AND SAFE ROOM SAFETY A COMFORTABLE AND CLEAN BED PHYSICAL HOTEL HIERARCHY OF NEEDS PYRAMID

23 TRANSFORM (Self-Actualization) SUCCEED (Social /Belonging & Esteem) SURVIVE (Physiological & Safety) TRANSFORMATION PYRAMID

24 Employee Pyramid Which asset does the hotel industry value more?

25 CREATES: MEANING (Transform) INSPIRATION RECOGNITION (Succeed) LOYALTY MONEY (Survival) BASE MOTIVATION EMPLOYEE RELATIONSHIP TRUTH

26 CREATES: CALLING MEANING (Transform) INSPIRATION CAREER RECOGNITION (Succeed) LOYALTY JOB MONEY (Survival) BASE MOTIVATION EMPLOYEE RELATIONSHIP TRUTH

27 Customer Pyramid If I had asked my customers what they wanted, they would have said a faster horse. Henry Ford

28 CREATES: MEETS UNRECOGNIZED NEEDS (Transform) EVANGELISM MEETS DESIRES (Succeed) COMMITMENT MEETS EXPECTATIONS (Survival) SATISFACTION CUSTOMER RELATIONSHIP TRUTH

29 Investor Pyramid Transactional investors focus on the milk. Relationship investors focus on the cow.

30 CREATES: LEGACY PRIDE OF OWNERSHIP (Transform) RELATIONSHIP ALIGNMENT (Succeed) CONFIDENCE TRANSACTION ALIGNMENT (Survival) TRUST INVESTOR RELATIONSHIP TRUTH

31 CUSTOMER TRUTH Peak Experiences Create Peak Performance Meets Unrecognized Needs CREATES: Evangelism Relationship Truths Pyramid Meets Desires Commitment Meets Expectations Satisfaction CREATES: CREATES: Pride of Ownership Inspiration Meaning Legacy Loyalty Recognition Relationship Alignment Confidence Base Motivation Money Transaction Alignment Trust EMPLOYEE TRUTH INVESTOR TRUTH

32 CUSTOMER TRUTH Peak Experiences Create Peak Performance Meets Unrecognized Needs CREATES: Evangelism Relationship Truths Pyramid Meets Desires Commitment Meets Expectations Satisfaction Loyalty Base Motivation CREATES: Inspiration Meaning Recognition Money EMPLOYEE TRUTH Building an Enthusiastic Staff 2 Developing Strong Customer Loyalty 3 Creating a Unique Corporate Culture 1 Maintaining a Profitable & Sustainable Business 4 Legacy Relationship Alignment Transaction Alignment INVESTOR TRUTH CREATES: Pride of Ownership Confidence Trust

33 Creating Peak Experiences Creates Peak Performance. Conventional wisdom is wrong: (1) money isn t the primary motivator for employees; (2) customers don t stay loyal when purely satisfied ; and (3) many investors have needs beyond ROI. Loyalty is created at the peak of each pyramid.

34 What is my lesson during this downturn? Emotional Equations

35 Despair = Suffering - Meaning

36 Calling = Pleasure Pain

37 HAPPINESS = Wanting What You Have Having What You Want HAPPINESS = Gratitude Gratification

38 Seek the Peak

39 Join the PEAK Community