Wednesday, May 20, 2009
Are You Riding the Right Horse?
Calvin Borel the jockey who rode Mine That Bird to a stunning Kentucky Derby victory did a very unusual move to abandon that horse for a different mount for the Preakness. He chose to ride the horse he won The Oaks race with and brought that horse, Rachel Alexander, a filly, to a victory at Pimlico Downs.
How hard was it for him to abandon a Derby winner for a potentially better horse? The gamble was significant and the risk to his reputation was large. Fortunately for him it worked out and he has the distinct opportunity to be the first Triple Crown winning jockey who changed mounts.
How willing are you to take risks in order to be in the best position to win?
Organizations who grow and beat the competitors are willing to take on risks, no matter how public the ridicule when they believe in their heart they are doing the right thing.
Apple rode the Mac to victory lane profits for many years before "mounting a new horse" and riding the iPod and iTunes horse to greater profits.
It was a gutsy choice, and a gamble to go after a market that didn't even exist. Shareholders were concerned, employee jobs were at risk. Once again had the gamble not been taken the profits never would’ve been realized.
What is the horse you need to be riding to victory lane? Explore your product line and service opportunities. Is there a better choice for your business to start riding to victory? Is there something you need to move to the back burner so you can concentrate on the fresh and new? To sit and wait on consumers to return or the economy to rebound is not safe; in fact, it is the riskiest step you can take for your business. Look for the best horse in your stable and ride that opportunity hard.