Applying Sports Science to Business Challenges

When the starting pistol fires its shot, you are never going to be a winner if you fall at the first hurdle. In October 2020, my most significant challenge was taking over the leadership of ED&F Man Capital Markets UK, six months after the World Health Organisation had declared Covid-19 a global pandemic. 

In my new role, I have drawn a lot of inspiration from the sporting world.  

“Obstacles don’t have to stop you. If you run into a wall, don’t turn around and give up. Figure out how to climb it, go through it, or work around it.” 

Michael Jordan

In my mind, the starting point was that this would be a marathon not a sprint. So, what are the business techniques that can be taken from the world of sports scientists, strength and conditioning coaches, nutritionists, psychologists etc?

My approach has been to clearly set out my vision of where we want to be, and the strategy required to be successful. We started by understanding our strengths and weaknesses, to install mitigating strategies and the different formations we might need to deploy depending on the oppositional forces. 

“We had a good team on paper. Unfortunately, the game was played on grass.” 

Brian Clough

From this we created our strategic plan of what success looks like in this first year and for the next two. Understanding who and what we are up against was key because you can never triumph unless you have invested time in analysing what you are competing against. That doesn’t necessarily mean solely your competitors, but also the environment, your own stamina levels (both mental and physical), latest innovations, and the strengths and weaknesses of your team both on the pitch and backroom.

“The way a team plays as a whole determines its success. You may have the greatest bunch of individual stars in the world, but if they don’t play together, the club won’t be worth a dime.”

Babe Ruth

As with any elite sport, it is not just the individual, it is the entire team that creates a champion. What does each member of the team bring to the party? That team must be balanced – you can’t have a team made up of just strikers. We need the goalkeeper even if they don’t touch the ball once during the game. For example, we have invested in our risk and compliance teams during this period to ensure we have the defence we need in place. We are also investing in hiring new, younger members of our team who bring with them their own perspectives and insights into areas, in fields where innovation can help us take strides forward.  

"Talent wins games, but teamwork and intelligence win championships." 

Michael Jordan

We have all seen what happened to Blockbuster and Kodak when they failed to innovate. The same applies in sports where, with elite athletes it is all about the improving the smallest of margins. It is no different in our business - whether it is low-latency trading, innovative crypto currency products or simply the infrastructure needed to continue to deliver the highest standards to our clients when they and we are all operating away from our traditional office environments. 

“The mind is the limit. As long as the mind can envision the fact that you can do something, you can do it, as long as you really believe 100 percent.” 

Arnold Schwarzenegger

Sports psychology is fascinating and an area from which a huge amount of inspiration can be drawn. We have all witnessed the world’s greatest athletes go from hero to zero despite everything else outwardly remaining consistent. It often comes down to a crisis of confidence. My approach during this brutal year has been to make mental health a priority. One way has been to provide reassurance that we will not take knee jerk reactions, we will continue to invest in the resources we need, and we are committed to acting ethically at all times, within the parameters of our values.  

If there is one value that I believe is at the heart of everything, in sport or business, it is respect. In particular, respecting that the conditions others are training and playing in may be different to our own. Such as the need to home school, to care for elderly or sick relatives, or the anxiety that goes with being surrounded by friends who are losing their jobs or livelihoods.  

We have all seen Premier League teams go from the top spots to the relegation zone and it is almost always a breakdown in communication between the manager and the team. Players don’t all go off the boil at the same time for any other reason nor do all the other teams get significantly better in a season. Communication is probably the area where I have put my greatest effort. Greater visibility through a drum beat of regular communication.

“The fight is won or lost far away from witnesses − behind the lines, in the gym, and out there on the road, long before I dance under those lights.” 

Muhammad Ali

Finally, even if you are Lewis Hamilton, if you put poor quality fuel in the tank, you are not going to be on the podium at the end of the race. Here I have tried to lead by example and taken the opportunity of being away from endless business lunches and dinners to get match fit. Healthy eating and physical activity are key to mental and physical well-being, so I am thinking much more carefully about the quality of what is going in the tank! In the few Clubhouse sessions I have listened to where CEOs have been talking about how they have been tackling the challenges that the pandemic has thrown at them, I have been amazed and inspired by how many have given up alcohol – I’m not saying this is something that will continue post lockdown but I can say that I have come as close as I will ever do over recent months to mirroring the habits of an elite athlete.

“I can accept failure, everyone fails at something. But I can’t accept not trying.”

Michael Jordan

I will not always get it right and almost certainly there will be some own goals, but I know that I have an incredible team, we have a shared passion to be the best, and we are playing to win. One thing I have never lost sight of is that there is no I in team!