Leadership Lessons from the Kentucky Derby

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On the first Saturday in May, horse betters, hat wearers, and mint julep drinkers journey down to Louisville for the annual Kentucky Derby.  Each year, 20 horses are selected to compete in front of 150,000+ attendees and a televised audience of 16+ Million worldwide.  Years of training and development all come down to the chance to win in just a few quick minutes.  In thinking about the yearly race, there are a few key leadership takeaways that we all can apply to the way we lead our work and people:

1.     There’s a fuller team behind the stars.  While the jockey and horse may be at the forefront, there’s a team of individuals behind them, each critical for their chance at victory.  This duo can thrive because of the support of coaches and trainers, horse owners, and even groomers, each playing a crucial role to help the pair become one of the 20 contenders.  When thinking of the project you and your team have at hand, acknowledge that each member of the team is necessary to make it happen.  Sometimes the work we do gets star treatment, other times it’s more of a supportive capacity.  No matter what our role might be, each is vital for ensuring that the other members of the team are set up for success.  While the horse and jockey may be the most visible ones, it’s the full team that is necessary for the victory to happen.

2.     Confidence comes from competence.  The Kentucky Derby is known as the “most exciting two minutes in sports” because everything takes place so quickly.  After years of preparation, the results are almost instantaneous.  Jockeys and horses can feel calm as they enter the starting gate because, while this race may have significantly higher stakes that others, they feel prepared to take on the challenge.  When getting ready to launch a new venture with your team, take the necessary time to plan and prepare.  When the moment comes time to finally show off your work, either in a product launch, sales pitch, or presentation, underscore to your team their level competence.  Remind them that this is the culmination of all of the research, preparation, and thought that went into the project in an effort to enhance their confidence during this moment of truth.

3.     There are people betting on your success.  While at the Kentucky Derby individuals quite literally place bets, in leadership we showcase this vote of confidence in other ways.  From shareholders to mentors to words of encouragement from peers, individuals have the opportunity to showcase their trust and faith in one another and in the organization.  Individuals invest their time, attention, dollars, and support in others because they care, and want them to succeed.  Yes, this occasionally means that there are people “backing a different horse”; remind your team members to focus on leveraging the support they have in their corner to push them through a challenging time.

4.     The first win is only the beginning.  The Kentucky Derby is the first of three races a horse must win to earn the Triple Crown.  Since 1875, only 13 horses have been able to do this, with another 23 coming close by winning the first two.  As a leader, stopping to celebrate success is a major factor of motivation and morale. As you know, taking the time to provide specific feedback about what went well and should be repeated is crucial for continued success.  If the Kentucky Derby teaches us anything, it’s that as opposed to basking in the glory for too long, a quick win should be used to propel us forward faster.