Based on my business win/loss ratio, I am
highly skilled at winning. I have won more business deals than the number
of professional golf wins of, well, Tiger Woods.
Woods would probably kill to have my win/loss
ratio – just as I may feel the same about his athletic achievements and
considerable wealth! Yes, I am aware that this comparison is both
preposterous and pretentious (and you could probably add a few WTF’s), but
please indulge me for a minute and continue reading…
I am more than a decade older than Tiger, and
I have lost hundreds of business deals more than those I have won... so
therefore I am also a far more experienced and successful at losing than Tiger Woods.
Better?
Like Woods, I have finished second many
times. Unlike Woods, when I finished second, I didn't make any
money. In business – unlike golf or other 'sporting games' – the
winner takes it all. We can probably blame ABBA for this!
Sometimes, winners don't actually play, or
even plan, to win.
They just keep doing the right thing,
consistently, for long enough to cause competitors – who may even perhaps
temporarily be in the lead – to lose. We witnessed this recently when
Tiger won the TPC at Sawgrass. Tiger could have e.g. finished in second
place to Sergio Garcia, who had the lead at one stage in the final round.
The difference? Tiger was more consistent; Garcia not. Shot
for shot, they're more-or-less, generally speaking, equally good. But
Tiger wins more often because of incredible consistency, and perhaps because
he's better equipped, emotionally, to win.
Winners therefore win more often because they
keep practicing their craft, over and over again, and then execute
consistently. They don't allow themselves to easily get distracted by the ADD
crowd who sometimes pull winners in different directions, often as a result
of chasing a shiny new thing that came along.
Sometimes, winners suffer long periods of
defeat before they start winning again. Often, as a result of
self-inflicted, very personal distractions… as displayed recently by Tiger for
the entire world to enjoy and gasp at. After all... what's life without
good soap-opera-style drama?
But, like the proverbial cream rising to the
top, you can't keep a true winner winless; not for too long anyway!
Sony was a winner at one time.
People of my generation (junior baby boomers) will remember Sony's
incredible successes, like the Walkman. Everyone aspired to owning a Sony
TV, because it was simply the best. Maybe we can blame Tina Turner
this time, although I don't think her hit song had anything to do with Sony?
But, people may also remember Sony's
controlling attitude regarding their intellectual capital & property, which
was once very similar to Apple's ($AAPL) current closed-shop,
secretive, non-sharing, keep you guessing, technological innovation and
product pipeline environment.
Sony insisted – nay, even proved – that
Betamax was better than VHS. But they refused to allow other manufacturers to
help them promote and sell their better consumer technology
product. Betamax was left behind in a proverbial tsunami of manufacturers
getting onto the shared VHS system, invented by JVC. Ultimately Betamax
was crushed into oblivion by Panasonic, Sharp, JVC and other Asian technology
giants of that era.
By the time Sony had agreed to license their
8mm camcorder technology to some camcorder competitors, like Hitachi, Canon,
etc., the world was already moving towards digital technology, and the
technology sharing was too little, too late.
Few people may recall Sony's other failures,
like Minidisc and MemoryStick. There were many more! These comments are
not intended to be overly critical, because risk of failure is inextricably
tied to innovation.
Think of the above in the context of Apple’s
iPod successfully replacing MP3 players. Or Bill Gates’ 2001 PC tablet
launch and prediction that these would replace PCs in 5 years. Of course,
Gates was simply ahead of his time and Apple successfully launched the iPad in
2010. The iPhone offered consumers a new, funky, playful device to
replace 'irreplaceable', stodgy, market-leading and once innovative Blackberry
($BBRY) mobile devices.
The common thread in the paragraph
immediately above is obviously Apple, having successfully replaced a variety of
competitive products with better products, mostly based on the concept of
improving an existing product. And, in the process, becoming the largest
corporation on the planet. What a great achievement!
Innovation? For sure - you can't
upgrade and replace any existing, leading- or cutting-edge products without
technological innovation (of course in the case of Apple, also complemented by
great personal product marketing by their larger than life CEO, Steve
Jobs, at the time).
Successful copying and improvement of
existing products? Unquestionably so.
Will Apple be the next Sony, or the next
Tiger Woods come-back story?
Winners both! One – the golfer – has
already returned to form. The other – the product company – is trying to
reposition itself instead as a software company. Apple fans are patiently
waiting for new products. Investors, small and large, are buying the
'under-valued' stock in the hopes of a return to the recent glory days of
market leading returns on investments, which were quite extraordinary,
especially for giant company stocks. The attempted repositioning
is not a bad strategy, assuming Apple were able to pull it off. Similar
to what IBM had done years ago, successfully.
Americans love Apple, but competitive product
threats are global, ever improving and just keep a coming. It's also not
only Samsung, but rather everyone not-Apple, especially in Asia.
Being #1 one is often a lonely, threatened place to be... just ask Toyota!
Most of us struggle to reinvent ourselves in
order to stay relevant, to keep winning. Although one may be able to keep
winning by practicing and consistently doing the right thing, sometimes
this simply isn't enough.
Here a suggestion: write down 10 new ideas
for improving your personal future win/loss ratio, right now.
Stuck already?
Then you're not going to win, so you need
more practice. How? Okay, how about writing down one idea, two, or
maybe three instead. Then tomorrow, you add another one. Then, when
you get up to ten new ideas, review the list and replace the stupid ideas with
better ones. Ask people around you for more new ideas.
And then... just do it, or at least try and
execute on a few of your ideas, to start. You are a winner; you may just
have temporarily forgotten the taste of victory.
Like Tiger, your name could be back in the
W-column soon as well. Let's see if you can beat Apple. It’s too
late to try and tame the Tiger… he’s already back, and in total control!
