Do You Need to Be 100% Better Than the Competition?

By Gerardo Herrero Morales
Instructor of International Negotiation | Entrepreneur | Director of Training and Strategic Consulting

Many times, when things aren’t going the way we’d like, we think we need to reinvent ourselves completely — to do a full “reengineering” of the company.
And while that can sometimes be a good idea, in general, all we need are small changes to make things significantly better.

Think about a horse race.

The yellow horse won by being 1% faster than the white horse.
Was the yellow horse 100% faster than the white horse? No, it was just a tiny bit faster.

The yellow horse may have won because:

1. Its food was 1% better than the white horse’s, giving it more energy.

2. It was 1% more rested.

3. Its jockey was 1% lighter than the white horse’s jockey.

4. The jockey was 1% better trained than the other.

5. Its saddle was 1% better.

6. It was trained 1% better than the white horse.

7. It was 1% better hydrated.

8. And so on.

Here’s the issue: we don’t know which 1% factor made the difference and led the yellow horse to victory.

And just as each factor can add at least 1%, any factor working against us can also subtract at least 1%.
If a sales executive shows up well-dressed to a meeting with a client, it adds 1%.
If they’re poorly dressed, it subtracts 1%.
Buying lower-quality raw materials? That’s minus 1%.
Creating a positive work environment adds 1%.
Having “weird vibes” around the office? Subtracts 1%, at least.

In the world’s most prestigious horse race, the Kentucky Derby, the winner takes home $1.9 million, and the second place $600,000. So, it might not seem that bad to come in second.

But that’s in the best-case scenario.
In many industries, the winning supplier gets 100% of the deal, and the runner-up gets 0%.
Same with politics: the winning candidate gets 100% of the presidency, and the second place gets 0%.
In love: the chosen suitor gets 100% of the partner’s heart, second place gets 0%.
In sports: the Rams beat the Titans in the 2000 Super Bowl because the Titans were one yard away from scoring the winning touchdown.

That’s why we must never downplay any factor that might help us win what we’re after — not a single one, no matter how small it may seem.
Every detail either adds or subtracts.
That 1% might be the tragic difference.

We need to break down and de-bureaucratize our processes, analyzing every task under a magnifying glass — no matter what we call them: sales, production, customer service, procurement, recruiting and selection, etc.
All are subject to the 1% rule.

Whether we like it or not, we must face the truth:
Competition is getting tougher every day, and we need to work on being better every day.
Let go of ego.
Listen to customer feedback.
Embrace self-criticism.
Carry out regular evaluations.
Refuse to settle.
These are our best allies.

Copyright 2019 – Ing. Gerardo Herrero Morales