Think rowing and real estate have nothing in common? Wrong.
In fact, for Ray White Group Chief Strategy Officer, one quote he uses in his training sessions all the time, comes from Drew Ginn – a member of the Oarsome Foursome.
That quote is: “Will it make the boat go faster?”
Below you’ll find five lessons from Ginn, and rowing, that you can apply to your business to create a competitive edge, become more efficient and build sustainable growth.
- Emphasise the fundamental question: Ginn says the fundamental question to ask is “Will it make the boat go faster?” In a business context, it is crucial to regularly ask: “Will it make the company more successful?” This question serves as a guide to assess strategies, decisions, and initiatives. By consistently evaluating the potential impact of actions on overall business success, companies can make informed choices and avoid wasting resources on endeavours that do not align with their goals.
- Understand value creation: Similar to boat speed creation in rowing, businesses need to understand how value is created and sustained. This involves identifying the factors that contribute to the success of the company, such as customer satisfaction, innovation, operational efficiency, and competitive advantage. By understanding these drivers, businesses can focus their efforts on areas that generate the most value and ensure long-term sustainability.
- Optimise processes and workflows: Just as rowers optimise their stroke recovery, businesses should optimise their processes and workflows to enhance efficiency and productivity. This includes streamlining operations, eliminating unnecessary steps, and identifying areas for improvement. By continuously evaluating and refining processes, companies can achieve better outcomes, reduce costs, and deliver products or services more effectively to customers.
- Learn from different industries or competitors: Learning from different industries or competitors can provide valuable insights for businesses. Just as rowers can learn from different rowing categories, organisations can study successful companies in other sectors to gain inspiration and discover innovative strategies. By observing and adapting proven practices from outside their own industry, businesses can gain a competitive edge and drive growth.
- Emphasise sustainable growth: In business, maintaining consistent and sustainable growth is vital. Instead of focusing solely on short-term gains or quick spikes, organisations should prioritise long-term success. This involves making decisions that promote steady progress, building strong customer relationships, investing in employee development, and adopting sustainable business practices. By emphasising sustainable growth, businesses can establish a solid foundation for ongoing success.