What can we learn from other disciplines, sport and apply in business?

"Today (Saturday 29th June 2024) is the start of the world's biggest sporting event based on attendance. Over the next 3 weeks between 13-15million people will make the pilgrimage, to stand on the side of the route and watch the Tour de France spectacle, flash past their eyes*.

I'm an avid fan of cycling and will watch the TDF highlights every evening for the next 3 weeks but what really intrigues me and draws me in, apart from the scenery of the route across Italy & France, is the strategy and tactics of each team. 

As a business what can we learn from other disciplines, sport and apply to our businesses?

Tour de France cycling teams works tirelessly and tactically to break down the overall long-term goal (21 day race) into single day races. Each week there is a rest day and the teams continually adjust their plans based on their competitors, the routes and also their own capabilities. These incremental mini race strategies culminate towards the teams overall goal to get their leader, over the full race period of 21 days, to that top step on the podium. 

So, some key reflections and questions.

Teamwork & Collaboration

Cycling is a team sport. Whilst there will be a single winner stood on the top step of podium at the end of the race, the leader will be stood there because their full team will have supported them every "pedal" of the way. Every individual within the team know their disciplines (whether on a bike or not) and as a team, they collaborate effectively to play to their strengths and collectively mitigate any risks or weaknesses.

Q. As a business leader do you foster collaboration, ensure there's alignment of your team, and leverage individual strengths to realise your common goal?

Roles & Responsibilities

In cycling you have domestiques, who selflessly, give everything to support the team leader. They protect the the team leader from the environment, to help reduce the team leader's effort. "They work for the leader"

Q. As a leader, do you recognise and reward appropriately your team members who play support roles which are critical for overall business success. An adage I often hear. "If you pay peanuts, you'll only get monkeys"

Energy Conservation.

Cyclists conserve energy by drafting behind teammates or even competitors.

Q. How much energy is wasted in your business (Time & Effort). Often individuals can be isolated or out of their depth by not being supported effectively. Then when there are problems or issues, and these individuals have to be protected and supported by you the leader or key team members, (such as a breakdown, puncture or crash on the road in cycling) how much extra energy does this drain and therefore impact your teams collective capabilities? "You're only as strong as your weakest link"

Risk Management.

Cycling is a close proximity sport and there is a high risk of accidents, certainly in the first week of a grand tour. Just like there are, in risk of failing, in the first years of trading or when launching a new business product or service.

Q. In business how do you balance risk vs. reward? 

To gain a competitive advantage you have to push boundaries and potentially fail sometimes. "No pain, no gain! And if you don't fail, or get hurt from time to time, potentially you aren't trying hard enough and testing yours and your teams potential. But key here is, how do you find that balance between risk and reward?  

Data Driven Decision-Making.

Cycling teams use physiological testing and data analysis to tailor individual training plans to ensure all riders in their team turn up in peak condition and with their "A game" (at the right point in time and for as long a sustained period as possible).

Q. Do you have robust measurable data, to understand what each member of your team's potential is?, Plus do you understand how to support each team member and the whole team itself to be at their peak performance and play their A game?

Don't forget the value in having a succession plan in place, because leaders and key members of your team can get sick or their capabilities falter, as the race picks up, gets more competitive and tougher.

Sponsorship & Revenue Streams

The Tour de France generates revenue from a number of sales channels: sponsorship, advertising, TV rights and local partnerships. As do each individual team.

Q. When was the last time you explored diverse revenue streams for your business, to ensure it's sustainable for the long term?

i.e. don't have all your eggs in one basket. such as relying on one key customer, or where your largest customers revenue is more than 20% of your business  turn-over. Don't rely on one key service or product. as it could be copied or become obsolete if the market changes or a new entrant wants a piece of the action. 

Remember – cyclists as individuals and as a team continually adapt to changing conditions and the environment i.e. the road conditions, weather, competitors' strategies, the distance of each race and how much further there is to the finish line (that end goal). They collectively ensure over the longer term they have an aligned goal and the reserves to compete and be competitive till the end of the grand tour race.

Therefore in business during these summer months, spend time planning and reviewing your business strategy and thinking about developing  a robust implementable plan. If you feel there is value in bouncing that strategy and plan off a sounding board, I'm more than happy to have a chat over a coffee.

And if you into cycling like me, let's get on our bikes and meet somewhere that gets us out and about and into an environment that could inspire you the next day to make an incremental "marginal change" which will have a positive effect to your business. (and then we can have a cake with that coffee too).

Peter Fleming

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Mobile; 07966 686112