Episode 10 – The Three-Legged Race
If you’ve ever attended a school sports day(I know most of you have), you’ve definitely seen or been part of a three-legged race. If not, then here’s how it’s done. Two participants pair up, standing side-by-side. The right-hand partner ties their left leg to the right leg of the left-hand partner. So now you essentially have three legs. And to win the race, you both have to work in harmony, be on the same wavelength, and maintain the same speed. Sounds simple, right? Well, it’s not. You’ll often find that one person is moving a little too fast or isn’t doing it right, or isn’t paying attention, so you fall out of step. Once the rhythm is lost, the only way to get back to running is by completely stopping and restarting. What’s clear is that those who collaborate well go faster.
Three-legged races might be fun during team-building exercises, but they can be detrimental in business. All successful businesses have congruence in three major parts: Operations, Sales, and Finance. If one is not moving at the desired speed, then, just like a three-legged race, that business is doomed to fail. If one of the three legs can’t keep up, it will slow your entire business down.
Listen in to learn about the delicate balancing act between these three crucial roles, what happens when they are out of sync, and what to do to get your rhythm back.
What You’ll Learn:
[01:02] The Three Legs of a Successful Business
[03:20] The Three-Legged Race: Operations, Sales, and Finance
[05:47] What Happens When One Leg in The Three-Legged Race Lags?
[08:58] How Sales Problems Can Lead to the Demise of an Organization
[10:45] When to Improve Data-Driven Decision Making
[14:30] How and When to Be Aggressive and Take More Risks in Business
[17:45] The Benefits of Having Your Finances in Order
[20:20] Internal Spin and Illusion: What is it and Why Should You Care
[22:19] The Relationship Between People Culture and Business Success
[23:45] Why Businesses Need to Innovate Around Their Main Flywheels
[25:20] Success is All About Scaling What Initially Gave You Success
[27:02] Parting Thoughts