We all know success. At some time, we’ve been in the winning position – possibly as an individual, but most likely as part of a team. When we taste success, we look hard at what got us that great flavor and we hold that memory closely. We all want to succeed again. And sometimes we can repeat those behaviors, those activities, and repeat success. The more we work hard, repeat our experiences and find success the more it reinforces repeating those behaviors and tactics.
And that leads to Lock-in. Very quickly, success breeds doing more of the same. We work harder and harder at doing what used to work, in the belief that the more we do it the greater our likelihood of success. But what we start to miss is changes in the marketplace. Despite our great strength, things change. And as much as we would like to keep doing what we’ve always done the reality is that our returns are destined to decline. We have to adjust to changing competitors and find new ways to win.
As I’ve listened to the the recent story of Brett Favre’s career as a football player, it’s hard not to feel for the guy. He’s one of the greatest NFL quarterbacks of the last 25 years. There’s no doubt he’ll be in the Hall of Fame. And recently he retired. But, as autumn came around he found himself Locked-in to doing what he’s always done. Even though he’s well past the age most players retire, and he retired in March, he decided he wanted to "unretire" and play more football.
But, his team – the Green Bay Packers – have moved on. The coaches and managers have recognized that they have to deal with intensive competition this fall. Although it would feel good to put Mr. Farvre back into the lineup, the odds of success are very low. Continuing to hope the competition won’t cannibalize Mr. Favre is a low probability proposition. Although his historical success has been great, when looking forward it’s clear the team must move toward a new Success Formula. Mr. Favre did well for a long time, but things have changed.
For his part, Mr. Favre needs to take a look at where his value is greatest. Many former football players have found fortunes beyond their imaginations after leaving football. This week Roger Staubach, a former Dallas Cowboys football quarterback, sold his real estate venture to another company for more than $500 million and remained a director of the company. His value from moving on into real estate development has been multiples of his football salary. Similarly, former Green Bay quarterback Bart Star made a fortune in auto sales, and former Denver quarterback John Elway has seen his football value eclipsed by his ownership of sports franchises and (again) auto dealerships.
Mr. Favre has seen diminishing rates of return as a quarterback for the last few years – and that is unlikely to change. But his celegrity is great. His value in other venues is greater than his value on the football field. He may love to play football – and all of us have our passions. But it becomes nonsensical when we let our passions overtake our ability to add value. It hurts ourselves as individuals, and the organizations we work with.
Many sports superstars find this a hard lesson to understand. Michael Jordon retired twice from Chicago – and played in D.C. before finally quitting. And it is usually to their detriment that they let Lock-in to prior personal Success Formulas stop them from developing more success. Mike Ditka, "da coach" as he’s called in Chicago, has made vastly more money from restaurants and endorsements than he ever did as a coach – even including his 2 years as head coach in New Orleans after coaching the Chicago Bears.
When markets shift, value from old Success Formulas declines. We may wish for the past – but it’s gone. For individuals, and the organizations that employ them, there comes a time to move forward to where greatest value can be achieved. The faster we move toward that future the better for everyone. Including the cheeseheads in Green Bay’s Lambeau Field. And for the very talented Mr. Favre.