Few people can claim to have had as much career success as Sir Alex Ferguson – the coach of Manchester United for 26 seasons.
During his stewardship Man U was among the world’s most successful and financially viable sporting clubs – winning 13 league titles and more than two dozen other domestic and international trophies.
Ferguson is well placed to know what it takes for a business to succeed – and told the Harvard Business Review that there were eight key steps for any organisation – from a globally renowned football club to a small business.
Lay strong foundations – Ferguson believes in building – or rebuilding – a business from the bottom up. When he started, he didn’t aim to win just the next match. He wanted to implement junior development and build a stronger club. For your small business, that translates to thinking beyond the next sale, with a view towards the future.
Dare to rebuild – Ferguson believed in changing existing structures for long term success. Know what needs changing or refreshing in your business and be prepared to implement the necessary change.
Set high standards – Ferguson believed in every member of his organisation adhering to his high work ethic and motivating them to be as driven as he was.
Be the boss – You have to be in control and respond with authority to problematic situations. You don’t have to be a dictator but if you are the head of your organisation – as Ferguson was to a club employing 30 millionaires – you have to clearly establish who is in charge. “Your personality has to be bigger than theirs,” he said.
Match the message to the moment – Although demanding of his players, Ferguson believed that they (like any employees) responded better to encouragement. “For any human being, there is nothing better than hearing ‘Well done’. Those are the two best words ever invented. You don”t need to use superlatives,” he said. When a reprimand was required, Ferguson believed in doing it immediately post-match. “I’d do it, and it was finished. It was on to the next match.”
Aim to win – Ferguson was known for putting an extra man into attack when his team was behind. That’s because he believed in taking risks and persevering in order to win. And his record shows that perseverance often paid off.
Delegate – and observe – Know when to take a step back and delegate. Ferguson believed in allowing others to directly supervise and in trusting them to do their jobs. This provided him an opportunity to observe – and to better evaluate his players.
Never Stop Adapting – Even when enjoying success, think about what your next move will be and how you can improve. “I believe that you control change by accepting it,” he said. “Most people with my kind of track record don’t look to change. But I always felt I couldn’t afford not to change. We had to be successful -there was no other option for me – and I would explore any means of improving.”