As a sports fan, I have been watching a fair amount of football and basketball games in the recent weeks.Â College Football Bowl games at various levels, pro football playoff games and major college basketball games.Â What I have noticed is that the teams that are successful on a consistent basis year after year do things differently from the teams that are mediocreâ€¦they consistently EXECUTE on their plan for creating a winning team.
It isnâ€™t the Xs and Os that differentiate the successful teams.Â There are many different styles of offense and defense that winning teams use. Successful teams are so disciplined in their execution that if a change in players (graduation, transfer/changing teams, turning pro) occurs at any position(s), the successful teams continue its winning ways.
A great team example of this was Ohio State winning the national championship in football last evening.Â They won with their third quarterback of the season, a player who only played three games at the end of the season, leading them to the national championship. Few teams can plug in a third quarterback, at such a key position for success, without a system that is followed and executed in such a disciplined manner.
Successful teams execute on the following:
- The strategy and expectations are set by the head coach and flows throughout the team and athletic department/organization.
- They have a structured system and set of processes and procedures for operating efficiently.
- Everyone on the team knows what the team goals are and they work daily in practice and games to reach their goals.
- A culture of success and high standards is set and everyone on the team is expected to meet these standards.
- The head coach makes sure the right â€œplayersâ€ are in place to make the team as successful as it can be utilizing their strategy. Everyone on the team has their role and is usually recruited to fill this role.
- The head coach makes sure everyone is doing what they need to in order for the team to reach its short and longer-term goals. They hold the team accountable for attaining the goals, both individually and as a team.
The key to each of these success factors isâ€¦..EXECUTION. The follow-through on areas to be improved upon and having accountability for making improvements is very important to creating a successful team.
Sounds like I could also be describing the key factors of successful financial advisory businesses, with execution as the key ingredient!
Figure out what makes your team unique. Follow the points above to create your successful team. Most importantly, follow your plan and EXECUTE on each of these success factors.
Build your business wisely.