Strategy
I was just watching the NASCAR race in the hotel bar and I couldn’t help but think about how much the strategy at the end of the race mirrors business – in fact it is business. Jimmy Johnson won this Race in his Lowe’s #48 car because his team’s strategy out-witted and out-lasted the other race teams. Here’s a quick synopsis:
— All of the teams were running out of gas at the end of the race
— Each team had to decide “do I stay out” or “do I pit and take tires and gas” or “do I pit and take gas only”
 — The first team ended up pitting with 15 laps remaining, probably hoping that the leaders would run out of gas
— This first team to pit plus those others that pitted in the next 5-8 laps took two right side tires along with some gas
— Several more teams pitted between 15 remaining and 8 remaining
— One team pitted with only 6 remaining and only got gas – in fact, the gas he got probably made very little difference at all
— The winning team stayed out – coasting at the end to victory – running out of gas after crossing the finish line
The comparisons to business are stark. So many companies are running hard and using all their gas to stay in the race, getting so close to that finish line. Many of those companies are so afraid of running out of gas that they leave the track and hit the pits early so they can “re-fuel” to try and make it to the end. Other companies run hard right up till close to the end and then pull into the pits for a “splash of gas” just to re-charge and gain a bit of confidence to make it to the end. But the winner always seems to be the one that has the confidence of making it to the end even though they may be close on gas and running on fumes.
I truly enjoy being part of that team that takes that chance to drive it hard all the way to the end. I’m not talking about being reckless; but I’m talking about having confidence in your equipment, confidence in your team, confidence in your metrics, and confidence in your business driver. That’s a winning combination!