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Incorporate risk into every business plan

In order for a business to succeed, everyone should be working towards the same goals. And those goals should be firmly established in the formulation of every business plan. No action or decision taken in the running of a business is without an element of risk, and a good CEO will approach the process of planning for risks using strong leadership to get everyone on the same page.

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Do people believe in you?

The success you achieve in the world of business depends on so many factors, including your tenacity and ability to solve problems. But one of the defining factors into whether or not your business plan eventually makes it through scrutiny, is how well you can convince people to believe in you. In fact, if you are failing in any area of your business, be it sourcing new customers or motivating your team, you need to ask yourself this very simple question:

“Do people believe in you?”

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Player motivation at the world cup – Part II

I found some of the over and under-achievement by various teams at the football world cup earlier this year fascinating. I am going to take a look at some of the issues that this raised, particularly around motivation, and also the impact on the management of teams in the UK Premiership.

As a non-football fan, I find the impact of teams such as Costa Rica incredible. It is a small country, who were fully behind their team and the players knew this. There didn’t appear to be any “rock stars” but there was a shared ethos, passion and team spirit that meant that meant that everyone wanted to raise their performance to avoid letting their team and their country down.

Let’s contrast that approach with those of Brazil or Portugal: both of these countries relied on superstars. This has some real risks: if the superstar is not playing at their best – everyone has off-days…. – then the whole team won’t get the results they want. Also, if they get injured or suspended, then the rest of the team need to raise their game which may not be that easy in the heat of a tournament. Another way this approach could cause problems is that the superstar can mask the shortfalls in performance of the rest of the team. Then, if they have an off day, the superstar can be working hard with no hope of getting the win they are looking for. This is very demotivating and also presents some physical risks around injury and fatigue.

So why is all this relevant to managers and leaders in organisations? Is your team heavily dependent on one key player who masks shortfalls in other team members? If they are having an off day, on holiday or even off sick, does the performance of your organisation sink? Will their motivation and performance dip if they feel they are not being supported by the rest? Another reason for this being important is that the reliance on one key individual or small group presents a real risk to the business: what happens if they decide to leave, or retire or are incapacitated long term? It is your job as the leader to look at the bigger picture and try and mitigate those obvious risks that could do the organisation damage at a later date.

There was an African side who, famously, had their appearance money flown to Brazil during the tournament. The incident raises a number of issues: is money really a suitable motivator for people to put their bodies on the line for their team or country. Bearing in mind the amount of money in football at the moment, and the massive amount that the stars are being paid then money really doesn’t make a huge amount of difference to them. This was really an issue of trust: the players didn’t really trust the parent associations to pay them what had been agreed to go to the tournament. Not a good way to encourage loyalty and high performance!

The issue of trust is a key one: you have to trust that your team are going to deliver for you and more importantly, they have to believe that you are going to deliver for them.

Finally, the Premiership season has just started again and there has been some discussion in the media about preparation and key team members’ readiness for the new campaign. Fatigue and injury before key activities and high pressure situations are not good things, so my question to you is: are there key people in your team that are permanently working under pressure? Who are so important that they are always busy and your whole team relies on them?

If there are, then what are you doing to provide them with the recovery time (and thanks) that they need to make sure that they are operating at peak performance when you really need them?