How companies can fight back from two sets down.
Over the weekend I was lucky enough to read a fabulous article in The Sunday Times written by the amazing Martha Lane Fox. It is rare to get the time to read the Money section, but if you do definitely read the article 'How companies can fight back from two sets down' - it was great and made me sit back and reflect on the businesses I have been part of and those that I have helped over the past few years.
A big thanks to Martha and to the Sunday Times for publishing it. In the article, Martha pulls out some business inspiration from her recent visit to Wimbledon.
I have pulled out the top 5 nuggets from the article:
1. Product obsession
Wimbledon's attention to detail has never faltered and it is coupled with constant and continual improvement. This balance of preserving the best parts of your product while not being blind to parts that need and upgrade is hard. For heritage and legacy brands, it can be especially tricky.
2. Talent management
The All England Lawn Tennis Club has consistently identified and nurtured exceptional players. According to The Open University, only 27% of businesses are investing in training and development. Perhaps it is worth thinking about your future workforce more like players you are going to need in the next decade. Short-changing development will have its consequences.
3. Digitisation
Wimbledon demonstrates the delicate balance that many companies are striking between technology and human interaction. However, Wimbledon also understands the value of human involvement. It is tough to navigate where to keep people and where to automate, and these are decisions that Wimbledon, like every business, is working through.
4. Global outlook
Wimbledon is watched by nearly a billion people worldwide, and more than 60 countries are represented in the main draw. At its heart, Wimbledon is open and inclusive. With the economic choppiness most businesses are navigating this year, these values are best held close.
5. Inspirational players
Martha read in the day's programme an interview with Novak Djokovic in which he described being two or three games down in a tournament. He had, he said gone into the locker room and 'shouted positive things' at himself in the mirror. He went back out and won. Perhaps it's about time to hang a mirror behind your desk to prep yourself before the board meeting or quarterly results.
As Martha mentions 'through injuries, setbacks and gruelling physical and mental challenges, these athletes epitomise unwavering determination. It is also a rare business leader or company that becomes world-class without extreme commitment, sacrifice and hard work.
If your business needs a turbo-charge or additional marketing firepower, visit Beachside Marketing or give me a call.
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