When Mystik Dan won the 150th run of the Kentucky Derby, it was a history-making photo finish.
Despite the 18:1 odds, the three-year-old colt hugged the rail and edged out a field of 19 other aggressive competitors who were right on his heels. It was one of only 10 nose-to-nose finishes in the race’s history. And to have three horses finish a nose apart, you have to go back in the record books to 1947.
Officials, fans, and pundits poured over videos of the two-minute race to understand exactly what happened.
How did this unlikely horse win one of the biggest competitions in the horse racing world?
I see two valuable lessons for EVERY leader driving a strategy when the stakes are high:
#1. Establish your positioning quickly –and firmly hold on to it!
Though he wasn’t the first out of the gate, Jockey Brian Hernandez quickly secured a position at the rail, the shortest path around the track. This is where he knew Mystik Dan could best play to his strengths.
Clarifying your strategic positioning in the marketplace allows you to play to your strengths too. Your strategic positioning defines who you are, your unique identity, what you stand for, who you serve, and the outcomes you deliver. Positioning is the foundation that drives your message and your brand. It is authentic.
Your strategic positioning doesn’t change, no matter who you talk to. When you have this clarity, decision-making is easier for everyone on your team. It also attracts the right employees, partners, funders, and customers to join you in the journey.
#2. Seize windows of opportunity –even if you risk getting bumped around!
A horse race can be messy and chaotic, with lots of surprises. Despite the other horses bumping into and around Mystik Dan, a little daylight suddenly opened up. The colt immediately shot through that spot and seemed to find another gear, surging to the finish.
When you are driving a new strategy, you risk getting bumped around too. Potholes and roadblocks during implementation often cause anxiety, and many leadership teams get derailed.
Mystik Dan and his team – the owner, trainer, and jockey – knew when they entered to race in the Kentucky Derby that it wasn’t going to be easy. They established a “What If? Rhythm”. Instead of wringing their hands, they planned for the uncertainties.
You, too, can establish a “What If” Rhythm” as you plan to implement your high-stakes strategy. When you and your team plan for uncertainties, you need to consider different ways to recover from disruptions from all sides. But you don’t stop there.
Risk isn’t all about the downside. You also need to consider how you will be ready to seize windows of opportunity when they arise.
Just as Mystik Dan was prepared and physically able to surge ahead when a gap opened up, you can establish a “What If? Rhythm” so leaders are ready to capitalize on fleeting moments of advantage for their organization. This means staying vigilant and adaptable, ensuring you have reserves and the capacity as a team to step up or pivot whenever necessary.
For Mystik Dan, the stakes were high. Many had counted him out. He didn’t win by a mile. And it wasn’t necessarily pretty. Despite the risks, Mystik Dan and his team de-risked and executed a strategy that accomplished their big idea: to win the Kentucky Derby.
Are you driving a new strategy when the stakes are high?
With clear strategic positioning and a “What If “rhythm, you too can de-risk your strategy. You and your team can be more confident despite the odds.
Because even when the odds aren’t in your favor, you can still win by a nose — or maybe two!
I’d love to hear YOUR thoughts on this! How could this apply in your world?
— Susan
This article is part of my newsletter, which equips and energizes leaders with practical ways to move forward, whether leading a new strategy or getting one back on track. Subscribe if you’d like insights like this one or twice a month.
Explore my website, www.gotomarketimpact.com, to learn more about my upcoming book, “FastTrack Your Big Idea!” as well as my offerings to help you and your team clarify your strategy and get results faster. Or message me, and let’s connect! susan.Schramm@gotomarketimpact.com.
