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Leaders Letter 5 – Beliefs And Bets

Beliefs and Bets

06/07/2020

Dear Leaders,

I hope you had a positive weekend and ready for the week ahead.

Believe it or not, it is now Q3 and with more businesses opening up again, this week’s message is to revisit your beliefs and bets for the rest of 2020.

This year has been a challenge for everyone and business right now feel like they are constantly being dealt bad hands in poker.

There is a lot of luck needed but calculated risks and understanding of the game is essential.

I am currently reading Annie Duke’s ‘Thinking in Bets‘ and it aligns so well in business and in the current situation.

Beliefs are key to any business succeeding, what do you believe to be true, what do you believe will happen, where do you believe the industry will go and why.

Your bets should be the 3-5 big bets you are betting on and have confidence in delivering for the rest of the year.

Revisit the top ten (yes 10) beliefs, revisit your top 3 bets for the rest of the year and clearly and concisely articulate your belief and bets to the whole organisation.

Have a home and hub explaining the beliefs and bets and get creative in having a 101, FAQ’s and ensure it rolls up to your Focus Metric.

Focus On: Achieving buy-in by reintroducing the beliefs and bets and talking collectively about these.

Ensure everyone understands the ten beliefs and three to five bets, ask for total commitment to deliver these and by the deadline you and your teams create.

The mid way of every year is typically when people take their breaks and holidays so fatigue is setting in and this is the time for leaders to step up and energise the team.

Happily let me know how you map out your B&B’s and if you have any troubles, happily email me for support.

Thanks and have a great week ahead.

Danny Denhard

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