In the world of sailing and in business, the journey is as important as the destination. The thrill of racing to France in a sailing boat is no different to the exhilaration of starting a company – take it from someone that has done both multiple times! Both require a blend of strategy, tactics, understanding of competitors and navigation – there is no point in starting unless you know where you are going, even if it is only to the first stage or first leg.
So first things first; a well-planned strategy – this applies both to sailing and starting/running a business. In both cases strategy serves as a roadmap, outlining the steps needed to reach the goal. For racing, this means studying weather patterns and tidal flow, while in business, it means conducting market research and developing a solid business plan.
What’s the difference between tactics and strategy? I really did not properly understand this until I had been racing for a while, I thought they were one in the same. Simply put, tactics are the specific actions taken to implement the strategy. Racing tactics involve choosing the right sails for the weather conditions (we carry 9 onboard), deciding to chase after the wind even though it may deviate you from course by quite some margin, ultimately wind in a racing boat is our fuel, without it you don’t go fast (not to mention how boring it is too!). Deciding when to push the boat to its limits is also a big decision, making sure safety/strategy is at the forefront of every decision is essential – business is no different. In business, tactics include marketing campaigns, pricing strategies or hiring decisions – both require quick thinking and the ability to adapt and pivot to changing conditions.
