We are constantly thinking about how we can improve our firm and better help our clients achieve their goals. Often we find concepts that can be directly applied to the business world and leveraged to assist our clients in material that has nothing to do with business.
Recently we took a look at an article that one of our team members read over a year ago from Grantland.com. The author decided to look at whether a first pitch strike to a batter had as big of an impact as everyone assumed it did (non-business related, right?).
For those that aren’t baseball fans here is a brief rundown of the idea:
It has been assumed that the first pitch was the most important pitch of the entire at bat. The thought has been that by getting 1 strike instead of a “ball” on the first pitch of an at bat, the result of the outcome dramatically tips in favor of the pitcher. If the first pitch is a ball, then it is believed that the batter has a distinct advantage. This has been a hard “fact” in baseball since people started hitting a ball with a bat.
The problem with this long held belief is that no one ever bothered to look at the data to see if it was true. After analyzing the statistics, author Joe Lemire found that this edict that every team in baseball had followed for more than a century was “more mythical than material.”
How does this apply to business?
It struck us while reading this article that just like baseball teams, many organization leaders we meet with operate on long held beliefs that have never been tested or analyzed. Beliefs that can slow growth, cause stagnation, or even worse start an unrecoverable decline. We’re not suggesting that you throw out concepts like hard work and integrity that built your business, but if you haven’t tested your strategies and notions, what potential “myths” are you running on?
Maybe myth is a strong word for the notions that many businesses operate from, but without knowing what your customers care about, how your business is perceived to be different from the competition, and if you’re meeting expectations; how can you truly dispel “myths” that are wasting your business’ time, and resources. Finding the answers to questions like these are what enables a business to focus on reality and move past the competition.
Just think about all of those baseball teams believing in the same thing…what if your business actually moved past belief and KNEW the answers, how far ahead of the game would that put your organization? How much more focused would your time and resources be? What kind of advantage over the competition would you have?
Big Buck Research & Analytics takes an objective outside look at our clients’ situations and provides actionable recommendations based on real analysis of hard data. Maybe it’s time you talked with a 3rd party to make sure you’re not operating on a myth or untested belief that’s holding your organization back.
To read more about the myth of the first strike: http://grantland.com/the-triangle/debunking-mlb-first-pitch-strike-myth/