Max Verstappen has taken the Formula 1 world by storm. In only his second season, he earned seven podium finishes from 21 starts. In doing so, he’s become a serious challenger to the established order. As an entrepreneur, what can you learn from Max?
An unstoppable force Max Verstappen was undoubtedly the most disruptive F1 driver of 2016. His driving style, courage, self-confidence and winning mentality all combine to make him a seemingly unstoppable force. The established order may grumble, yet it can barely keep up with him. The rules have even been adjusted in an attempt to rein in the dynamic Dutch star’s unpredictable talent. Adapt to the situation around you
Did those changes stop him or slow him down? Absolutely not. Max has effortlessly adapted to the situation and continues to push the limits. Behind the scenes, a crack team of data specialists provides the information he needs to make decisions in a split second. Whatever comes his way, Max is ready to meet it head on and keep pushing forward.
How do you stay ahead?
As an entrepreneur, you too face an ever changing landscape. Digitisation, transparency, globalisation, rapidly changing legislation, new entrants… You have to deal with numerous changes, any of which can have a potentially huge impact on your performance. How do you make sure that you continue to make the right decisions in good time – and stay ahead of the competition?
Make the right decisions in good time
Well, just like Max Verstappen, you can make better, faster choices when you get smart about the way you collect and use data. Taking advantage of business software to manage your inventory, CRM, webshop, financials, and HR can help you generate a lot of valuable information. The big challenge is understanding exactly what it all means for your business. Yet, unlike Max, you probably don’t have a room full of scientists at your disposal. (They helped to make 30,000 improvements to his car over the course of last season. Fancy trying to do the same with your organisation?)
Connect your systems
First of all, consider what you actually want to achieve. Then use data to make sure you stay on course to achieving those goals. Connecting your systems, for example, will provide you with accurate insight into inventory, outstanding payments, customer requirements, prices and so on. That way, you’re able to continually check that you’re headed in the right direction. Not to mention the fact it will also free up time by cutting down data entry and routine admin tasks.
Work closely with your race engineer
Let’s say you’ve connected all your systems. Then what? Well, your business software will provide a slick-looking financial dashboard displaying all sorts of figures and graphs. But how do you translate them into relevant information? Well, we’ve seen that Max has a team of specialists. They translate data into useful information for his race engineer, Gianpiero Lambiase, to pass on via the board radio. So who is your race engineer?
How your accountant can help you drive your business
Well, ideally it’s a role for your accountant or bookkeeper, someone who knows all about the numbers and can translate them into solid advice you can act upon. By doing the same thing for a range of customers, accountants can gain a deep knowledge built on real life learnings from your peers. And it’s reassuring to know that more and more practices are transforming themselves into proactive race engineers able to support you in realtime, rather than waiting to analyse your performance from the perspective of a rear view mirror.
Ready to out your business on pole?
You can use this knowledge to exploit your entrepreneurial talents to the maximum. And if you need a new race engineer with the skills to keep you competitive, stop off in the Exact paddock.