At the Paris Olympics, Katarina Johnson-Thompson showcased her incredible talent and determination by clinching silver in the heptathlon. Her journey to the top is a testament to the power of specialised coaching and support. Each of her seven disciplines requires a unique set of skills and coaching to hone them to perfection.
This got me thinking about the parallels between Katarina’s success and the challenges faced by agency leaders. Katarina relies on a team of experts and specialist coaches around her to excel in each event. Similarly, agency leaders need expert guidance in various aspects of their business to achieve success.
Long term strategy: Just as Katarina needs a clear strategy to excel in her career and perform optimally in each event, an agency leader must align their business with long-term goals and track their performance metrics effectively, working constantly to improve them with the end goal in mind.
Getting the right support: Katarina’s team includes experts who provided critical guidance, support, advice and encouragement. Likewise, agencies can benefit from the right support from subject matter experts, coaches and specialists to fill gaps in their own expertise and prepare them for their big moment when performance matters most.
Planning for success: Planning is key for both athletes and businesses. Athletes break down the task of winning into the competent parts that will take them there; nutrition and fitness, training regimes, equipment and apparel, race schedules, and of course the funding and investments needed to take them all the way to that medal ceremony. Agencies need similar plans, with detailed financial and strategic actions breaking down the steps in their growth journey, setting challenging but attainable objectives that build over the years to get them to their end goal.
Performance improvement: For any athlete, constantly enhancing performance bit by bit is crucial to building to that Olympic greatness. By the same token, agencies need that same approach to constantly reiterate their new business sales engine to deliver new clients, as well as at the bottom line, having a laser focus working the levers that contribute to profit growth. Rick Brailsford’s famous “marginal gains” approach helps leaders eek out every bit of upside and remove wastage which in turn improves effective delivery. It’s clear we all need our own Rick on side to help us choose the right levers to pull and by how much.
The right core team making all the right decisions: For Katarina, having the right coaches around her is vital, but they have to all work together beautifully to combine and achieve the full impact. Each one is a cog in the wheel. Agencies need to develop a similar high-performing leadership team, with the right people in the right roles, properly accountable and incentivised to deliver for the agency.
The big moment: Preparing for a successful exit is like planning for your Olympic final. All the elements that contribute to your chance of winning must come together and be aligned in that one moment when it matters. Agencies need to understand and plan for their viable exit options, know their valuation, and have a solid plan in place to make it happen.
KJT’s Olympic triumph is a powerful reminder of the importance of surrounding yourself with expert specialised coaching. It makes sense to get the best of the best to help you achieve your ultimate goal. By applying these principles, agency leaders can also quickly navigate the complexities of their business and accelerate their route to their own Olympic final, whatever they have decided that is.