What can Business Learn from GB’s Olympic Success?
Many people think that Lottery money was the reason for our success – new facilities, the ability to train harder without fears of how to pay the bills. This was only a small part of the answer.
I heard a radio item over the weekend where one of the guests pointed out how British athletes were now able to examine every aspect of their performance, to break it down into manageable, measurable chunks and to look for ways of improving every part of how they competed. The reality was 2% extra here, 3% extra there, 1.5% extra somewhere else. Each small improvement built on the last one. The difference was enormous in terms of WINNING.
That’s a bit like compound interest in investments. Each small gain improves the next and so on. Over time, you get rich.
For business owners, the lesson is to examine every aspect of your business performance and look for ways of improving each part, be it profit per product, profit per customer, services levels and related systems, team performance and leadership etc. The key is to measure what is happening and use the results to build a more profitable and successful business.
The starting point in this is the accounting system. If your system does not tell you what is going on each week or month, either get another or find someone who can make it work for you.
This is what we do and more. We can help you get your business moving forward, to help you build an effective team creating a valuable asset for the future. Please call to find out more.