Say no to drama... A week ago, Switzerland beat defending champions Italy in Berlin, solidifying their status as the tournament’s “secret” favourites. Today, the entire nation was on edge, waiting for another win. Several cities, including Zurich, Winterthur, and Basel, had prepared to allow the hospitality industry to stay open all night, ready to celebrate. The hashtag #Euro2024 quarter-final match between Switzerland and England began with hope and escalated into euphoria in public viewing areas across the country, especially when the team scored the opening goal. But the dream is over for Switzerland. Many might feel a sense of injustice. After all, the Swiss team held their own against the English with ease and came very close to victory several times. But in the end, a single penalty saved by the English goalkeeper made all the difference. Just because work is serious does not mean we need to take losses too seriously. This might sound strange coming from the CEO of Rahim Invest where we scout startups and perform due diligence on ventures on behalf of our clients (primarily Gulf region investors). But let me explain using a Harvard Business School case study describing a similar situation: After the USC football team beat Ohio State, they lost their next game to the University of Washington. The Harvard case study notes that managers can learn from USC head coach Pete Carroll’s loose, encouraging sideline demeanour. He prowls the sidelines but is often clapping, cheering, and giving “atta-boys” to his players. USC is a football juggernaut, but even talented teams can get caught up in emotional swings. Carroll’s style helps keep everyone calm and focused on what they must do. When advising our investment decisions to clients, some of whom are very conservative and demanding due to the high standards of Gulf region culture, I always emphasize the importance of flexibility and investing in leaders who keep their teams resilient to losses. The purpose of maintaining team resilience is not entertainment; it’s about keeping people focused. Managers, especially those facing declining resources, tougher competition, and more demanding customers, can benefit from keeping their teams resilient to setbacks to ultimately become market leaders. Therefore, a manager must ensure that people understand the importance of their contributions. A leader must always treat their people as though their contributions matter strategically, more critically than the outcome of a single game. Keeping resilience in the face of losses is not always easy, but it makes coming to work more pleasant. When people want to come to work, it’s vital for the business and, ultimately, for long-term investment returns. To our beloved Switzerland 🥂, this European Championship, you did your best.
We believed until the very end. While the #Euro2024 ends tonight for 🇨🇭, the Swiss national team can be proud of their performance. Thank you for these magical and powerful moments of ⚽️ Well done and see you soon!
