The difference is 5%

At a recent winter Olympics, one of the ski teams famed for their ability on the slopes won no gold models, which was a big disappointment to both team and nation. Post-event the team’s management did some analysis and discovered that if the team performed 5% better – that is an improvement of time of only 5% – they would have won almost every gold medal that they competed for. I think that is a great reflection of society today. One false marketing move, one poor product decision, one error of judgement with a customer and you are left standing and in second place. Technology has sped things up, removed our levels of tolerance and demanded instant and regular communication, but I think the example above reflects true in life and business today. I don’t necessarily like it, but it’s true – just 5% can often be the difference between front page success and dismal failure. We need to ensure our people are the best, our technology is helping us understand and maximise our business, and our strategy clear and lived and breathed by everyone.