Hi and welcome to today's edition of The Transition Guy. We are still in San Antonio, filming behind the Alamo.Today I want to talk to you about, something that comes up a lot — it's around sports and how sports clubs look after their athletes and more importantly why they select who stays and who doesn't.
So, in the UK we follow football, for our American buddies you call it soccer. Get over it, it is football. Now, with football, what happens is it's all around the players, it's all around the quality of the players and you're only as good as your performance. So, it's a highly pressurized environment.
In order to stay part of that team, you got to be on your game.
Now, a lot of money is involved with football, so they pay a lot of fees to acquire a player. Very often what will happen is, a player will be brought into a team and then what you will find is they don't quite fit, for whatever reason, although they were fantastic at one club, it doesn't mean that they're going to be fantastic at another club and very often, football clubs need to make the really hard choice and the choice is, “Do I take a financial hit on this person and get rid of them, because they're quite not doing it for the team? They don't quite fit as a team.” And that's important, because in business what tends to happen, we bring on some really fantastic players and can you relate to the times where you brought on this really start performer in one company and they had the bulletproof CV and you thought, “Yeah, I have got the person of my dreams.”
For some reason, they've come into the business and they have just not done it for you. For whatever reason, they can't perform, they can't integrate, they can't fit, they're just not part of that team and you've got to make that really difficult decision, “I've got that person on board, what do I do with them?” Most business owners don't make that decision and that's the really frustrating thing.
Going back to the football teams, now it's the end of the season in the UK and yesterday they released the player list and they call it the retain list. The players they're going to retain for next season and unfortunately the managers and actually the management team of the whole football club have got to make a really important decision. Who do they let go? And they have to let a number of people go, because there's only so many people they can have within the club and sometime you've got to let go of your big stars.
What would happen to you as a business owner, if every year you had to chose your retain squad? Who are you going to retain on your team?
Wouldn't that be a fantastic exercise? Can you imagine that? You've got all your people, and every year you've got to decide who am I going to get rid of? Now, you're saying employment law, this, that and the other. Don't worry about employment law, just go with the whole exercise and the theory behind it.
How many people, if you said, “I have to let you go at the end of the season.” How many people would you let go?
There are companies out there that do this. G Electric will always get rid of his bottom 10% of performers. Now faced with that really difficult decision, what would happen? You'd get rid of your worst performers, but what would that force you to do? It would force you now to go and get new talent. Faced with the prospect of having to cut 10% or let people go in your business, who would you let go? And if you would let them go, ask yourself another question, what's stopping up from letting them go? What's holding you back? What needs to happen for you to be able to let your poor performers go? And the interesting thing is, your poor performers may not be bad people.
The players that are let go from football clubs are not bad people, they just can't play at the required level that will allow the football club to win trophies.
Well, the equivalent of you winning trophies would be taking your business to where you want it to go.
So the question you've got to ask yourself is, if you got rid of those players that are not serving you well and you brought on board top people, that could absolutely help you get to where you need to be, how much quicker and how much further forward would you be?
Now, if you resonate with what we've discussed today, please head over to boolkah.com and get in contact, and remember, failing to learn is learning to fail.