During the summer of 1978, a friend invited me to watch an auto race at the famed Watkins Glen racing circuit in the Finger Lakes region of New York. From the moment the green flag dropped the speed of the cars and the ability of the drivers to run at the limit lap after lap mesmerized me – so much so, that racing became an important hobby of mine. My business career has also taught me the power of speed as a competitive differentiator for companies. Though velocity carries inherent risks, agile companies tend to lead their industries and generally have higher employee satisfaction. Many organizations can “hang it out there” for a short period of time, but few sustain that level of performance. The best racers and companies, however, are consistently able to operate at the limit. Here are some speed secrets I learned at the track that translate to the business world.
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