The ultimate achievement is the attainment of synergy and symbiosis. Find out what we mean in this article.
What can rugby teach us about business?
I have always loved rugby – recently I have popped over to France briefly to watch England vs Chile, and with a little bit more time at fit20 Exeter, maybe my playing days aren’t over! The World Cup currently going has shown us a huge amount – consider the impact of coaches like Warren Gatland, who has turned Wales from hopeless to downright impressive… contrasted with Eddie Jones’ fate working with the Australia team. It is the players on the pitch who score the points, make the tackles, and win or lose games: but synergy comes from the top.
The ultimate achievement in building a business is the attainment of synergy and symbiosis. This signifies that the collaborative efforts of a team surpass the collective abilities of its individual members. In the context of business, it equates to a return on investment (ROI) that outshines the contributions made to that investment.
For instance, envision a portfolio comprising 10 distinct stocks, initially valued at a total cost basis of £1,000. However, when these stocks are skilfully diversified, with a judicious blend of growth prospects, income generators, dividend-yielding stalwarts, and enterprising IPOs, this portfolio stands to appreciate significantly, potentially multiplying its original cash infusion manyfold.
Synergy is still no guarantee of success
Nevertheless, seasoned investors are well aware that synergy and symbiotic relationships aren’t always a guarantee of prosperity. Investing in a bundle of stocks with shaky fundamentals can swiftly lead to financial hardship, much like purchasing assets with promising potential can accelerate one’s journey to wealth and early retirement. In a team context, the wrong mix of individuals can also trigger the principle that the collective outcome surpasses individual contributions, but regrettably, it translates into losses, not gains.
This underlying principle hinges on human interaction and the theories underpinning team dynamics. Merging two ordinary individuals can yield outcomes unattainable in isolation. Assembling a group with the right blend of vision, thoughtfulness, and strategic planning can occasionally achieve more than dozens of individuals who haven’t been meticulously selected and matched. People possess an inherent chemistry, and when harnessed incorrectly, it results in explosive and disastrous consequences. Conversely, when harnessed adeptly, it yields incredible and innovative results.
What are the keys to a winning team?
This video from Brad Sugars covers six keys to achieving real synergy in your team. To construct an exceptional team, the journey commences with the fundamental building blocks before crafting the recipe for success from scratch. Think of it as akin to the precise science of baking a cake – a culinary pursuit that combines chemistry and physics in the kitchen. While a skilled chef might excel at baking an apple pie, attempting to replicate the same outcomes using pie-making techniques for a cake would yield entirely different and undesired results. Both desserts fall within the same category, but it’s erroneous to assume that the same ingredients and methods apply to both.
The individual ingredients and facets of a team collectively contribute to the overall results achieved. In the realm of teamwork, the entirety consistently surpasses the mere summation of its constituents, revealing the true essence of synergy.
