As Team GB returns from Brazil and the dust on the Summer Olympics begins to settle, our MD Peter Church reflects on what business can learn from the greatest athletes on earth.

I’ve followed this year’s Olympic Games closer than any other. Waking up each morning to the overnight exploits of our dedicated Team GB members was truly inspirational; it’s even prompted me to don my running shoes for the first time in over a year! And now that the excitement’s all over, and our national heroes have made their way back home, I’ve had a chance to reflect on what business messages can be taken from the greatest sporting event on the planet…

Even the best of us need help

Needless to say, Olympic athletes are extremely determined and singled minded. You might even get the impression that many events are all about individual effort and commitment. However, what’s been clear in interviews with almost every medallist is that they couldn’t have done it without their support staff. One of the best examples of this was when Jade Jones, taekwondo gold medallist in 2012 and 2016, defied convention and pulled her coach, Paul Green, onto the mat following her victory. It just goes to show that no matter how successful you are as an individual, we all need help and support from time to time. So to all the warehouse, manufacturing and operations staff that have made me look good over the years – thank you for all your efforts!

Set short term goals

It’s good to have a few outrageously big ‘gold medal’ goals, but smaller, short term goals keep us moving in the right direction. On the face of it, every single Olympian sets themselves the same bold target of winning a gold medal. But as I listen to the athletes in interviews, I notice that many of them mention that they set specific times and milestones along the way that were 100% in their control, such as striving for a new personal best. Rome wasn’t built in a day after all, and setting strategic but realistic short term goals is the key to achieving ultimate ‘gold medal’ success.

Invest in long-term success

Short term goals should be set in conjunction with long term investment. In 1996, Team GB won a solitary gold, with Sir Steve Redgrave and Sir Matthew Pinsent winning the men's coxless pair in Atlanta. The subsequent efforts of the UK government and National Lottery fund was instrumental in helping Britain achieve extraordinary success in the years that followed – Olympic funding plans are already in place for Tokyo 2020. In my opinion, current business thinking is tooshort term – one bad quarter and everything changes. Even if you can’t see the immediate benefits, a well-devised long-term plan is the best way safeguard your business for the future.

Don’t be afraid to be different

We’ve been running, jumping and swimming at the Olympics since 1896. You’d think that we’d be doing things the best and fastest ways possible by now, but over the years innovation and new thinking have played a key part in winning gold. The 1968 Mexico City Olympics marked the international debut of American high jumper Dick Fosbury and his celebrated "Fosbury flop”, which would go on to revolutionise the sport. Such pioneering techniques always start with the simple question: “Is there another way to do this?” It’s a good question to ask yourself from time to time. You may find that that method you’ve been applying for years and years isn’t the most efficient after all.

So while Rio will undoubtedly inspire and enthuse the next generation of sporting greats – and even convince people like me to get out of the house – there are lessons that the business community can take from it too.

As a purchaser of steel I have always paid attention to news about the UK and global steelmarkets. We are competing with many international chain companies and supplying a number of companies that want us to be globally competitive; we also have a good level of export sales. But with steel making up a significant part of our cost, it is important that our purchasing does not put us at too much of a disadvantage. A few years ago we unsuccessfully attempted to buy from Tata Steel; in the end we could not agree on something that worked commercially.

We make safety critical parts, meaning the quality and consistency of the steel we buy is very important. We have always specified European-made steel. The majority of the steel we use in our UK factory is made by a Scandinavian producer, and while price plays an important part in our decision, even more important is repeatability of machinability from cast to cast. This is becoming increasingly important, as we are introducing more automation and unmanned running to increase productivity. 

If you put China’s steel to one side, we must ask ourselves: ‘why can’t we have a competitive steel industry against other European producers?’ At the core of this is a lack of actions and strategy over many years to support UK manufacturing, which employs 2.6 million people.

UK manufacturers have higher electricity pricest han they do in many of Britain's European neighbours; between 2005 and 2014, the average price for industrial consumers in Europe increased by 66%. But prices also vary significantly across the EU. In Germany and the Netherlands, prices have remained fairly stable, increasing by approximately 25%. In the United Kingdom and Poland, however, prices have gone up by as much as 100%.

Business rates are based on a system dating back to 1572. In 2014-15, the Government collected a total of £22.9 billion in business rates, representing just 3.53% of the total UK tax income. It’s a strange fact that investments in certain types of plant and machinery result in an increase in the rateable value, and therefore the business rates. We need a fundamental reform of business rates for all – whether that be small, medium-sized or larger businesses – to encourage companies to invest in equipment.

UK manufacturing needs more skilled workers. As a small company, we have worked hard to include apprenticeships in our development plan. Our experience with local colleges has been quite disappointing so far, and the new funding model linked to the apprentice levy seems overly complicated. Training and staff development must be about more than just apprentices – why can’t we have 100% tax relief for all training and staff development?

Unfortunately, we can’t rewrite history, but there are many things we can change to ensure we have a fighting chance against other European manufacturers. After that, we have to make sure we’re in a good position to compete with the rest of the world.

When I was young all my friends’ parents worked in Letchworth Garden City – and almost all of them for just four companies. My father worked for the same company for 40 years before he retired. These days people are more mobile and have the potential to change jobs regularly so building staff loyalty is a challenge for many businesses. 

This year FB Chain will celebrate 30 years of business in the UK. Like many companies we have seen people come and go but have a core of staff who have given consistently excellent service over a long period of time – I myself began work at FB Chain in 1989. So this month we are holding our first long service awards for seven staff who have a combined length of service of 132 years. New staff have brought new skills and energy to our team in recent years but our long-serving staff have played a very important role.

Staff need time to adjust to the culture within our company. The longer they work for us the better they understand this culture and the more familiar they are with our guidelines and working practices. We have found great success in moving staff, who have spent a while in our organisation and know all the ins and outs of the company, to new roles. They have contributed quickly and effectively – and the chance to develop is also a good reason for them to stay and be engaged.

Furthermore, as a sales organization we operate within a few specific niches and pride ourselves on having ‘geek’ level knowledge that helps our customers get the most from our products and services. Developing this specialist knowledge also takes time. It can take around a year before sales staff reach a competent level and even then there are applications that come up so infrequently it can be many years before staff are fully comfortable in their role. Our promise to deliver the best possible service and advice for our customers requires knowledge, experience and energy – and our long-serving staff enable us to keep this promise. We are very grateful for their commitment and support!

Often a member of the team offers to make me a cup of tea and I always decline. Staff numbers have grown over the last few years and I do not yet know everyone on a more personal level. Meeting staff in the kitchen as I make a cup of tea gives me a chance to have a chat with them and get to know them. Indeed the kitchen is perhaps the only place where staff from across the business regularly interact with each other. Some bosses might be concerned about time ‘lost’ in in the kitchen. They think employees are discussing sports or last night’s TV – and they probably are – but they might also be discussing the solution to a challenge or an improvement to a business process or service.

Our strong company culture and willingness to get stuck in and help out in different areas of the business has been at the core of our success in recent years. A company is essentially a group of people who are working towards a shared goal. Making tea is a ritual that brings people together and as they wait by the kettle they get to know if someone is under pressure and if they can lend a hand.

It’s also important to take a break from the computer screen and think about something other than work for a few moments throughout the day – and get up on your feet. Making a cup of tea is a good opportunity to do that. When I come back to my desk I feel more relaxed and my refreshed eyes often notice things that they hadn’t before. From this week I will be encouraging all staff to take a short break every now and then – and get moving. Our teamwork, productivity, and wellbeing will all benefit.

I originally wrote a form of this blog in December after seeing the new Star Wars film but held off publishing it as I didn’t want to give away any plot points to those who hadn’t seen it yet. However, I’m hoping that by now – in February – everyone who wants to see the film now has and if they haven’t, they surely can’t be too concerned about spoilers otherwise they would have seen it earlier.

I absolutely loved the film – the characters, costumes and landscapes, not to mention the action! And despite being set amid military conflict a long time ago in a galaxy far, far way, it has a lot of lessons to teach us about success in business today. The first is not to invest all time and resources available in a single obsession. The Empire (renamed as the First Order) has so far built three death stars, and while experiencing some temporary success, each time it has ended in failure. In business, I am reminded to keep an open mind and stay flexible as new competitors come onto the market with new technology. If something isn’t working or the market changes, our business must change too.

The second is to surround myself with a creative and competent team who can continue to drive the business forward, even when I am not around. The Empire has gone to great lengths to produce a clone army with no independent thought and a strict hierarchy to control all activities. The Resistance, however, is full of free-thinkers who make valuable progress, even when Luke Skywalker is not around.

Moreover, you cannot beat your competitors on your own and a good team needs a mix of young energy like Poe Dameron and Finn, combined with the knowledge and experience of characters like Maz Kanata and Chewbacca. Once you have the right people, you need to make sure they all know what they are fighting for and they will come through for you.

The film also showed how important it is to show initiative and take responsibility for your own development. Even without any formal training Rey learns how to survive on a wasteland planet by scavenging, pilot a spacecraft and become an extremely adept fighter. The right attitude and desire took her a long way on her own – she is able to use Jedi abilities to control a Stormtrooper to help her escape and even defeat Kylo Ren in a duel. Now she has sought out a mentor, she will develop even further.

Finally, you have to believe in doing the right thing in the right way. As soon as you start playing with the dark side it can suck you in. Kylo Ren had a good background but he was impatient for results and did not care how he achieved them. Whenever we interact with customers, suppliers and staff, we must always remember that the means is just as important as the end.

May the force be with you!