What's your game plan?
What’s your game plan?
In the most anticipated four minutes of swimming in recent Olympic history, Ledecky vs. Titmus somehow lived up to the massive, transpacific hype. Titmus, the 20-year-old Australian sensation, caught Ledecky near the 300-meter mark and held off the defending champ’s late charge in the final 25 meters, winning the 2022 Olympic Gold Medal in 3 minutes 56.69 seconds and becoming the first woman to beat Ledecky in an individual Olympic final.
In an interview with Peter FitzSimmons, he asks Titumus, about the strategy behind how to beat the G.O.A.T. for the 400 metres freestyle, the Greatest of All Time, Katie Ledecky. “Neophytes would think the tactics would be six words: Ready, set, go like the clappers.” But you and your coach Dean Boxall spent days, weeks, months, years, working out methodically how to take her down. What was the plan?”
Titmus says: “Dean and I made a commitment to each other: There are 100 stones, and we will turn over each one. Turn up every day with a smile on your face, no matter what’s going on in your life. Go till you can go no more. And then do it again, and again and again, no matter what. I believe I stuck to my end. I believe that he stuck to his.”
The nature of Finance is somewhat similar, you first must understand your game plan, and the banks appetite, and how they view your business. In doing so, this will enable you to present the most suitable finance, and security structure.
This ensuring the minimum security is provided to the banks allowing you to protect your other assets that may be required for use one day in the event that the business requires additional capital.
As the interview continued, Fitzsimmons asked: “Well here you are on the starting blocks. You look to your left. It is Katie Ledecky, the Greatest of All Time 400 metres swimmer. The Olympic champion. The world record holder. What are your thoughts?”
Titmus Says: “I was fully expecting for me to be shitting bricks. But surprisingly, it was the most relaxed I’ve ever been at international competition. And I think it was because of the confidence – not cockiness – I had in myself the past six weeks leading into the Olympics and those years of training. I knew I had turned over all 100 stones, done everything possible.”
As in Titmus’s case, the same is in finance, a quiet confidence can be built from understanding your business objectives for growth, as well as understanding the current state of your business profile from a bank perspective. Gaining this understanding will provide you the ability to best articulate your finance requirements, as opposed to going cap in hand with your request. By including different experts into this process will best enable an outcome that you ideally want, as opposed to what may be offered.
In summarising, what is it you would like to achieve in the growth of your business, how does understanding your challenges from a finance perspective and applying this similar strategy of the “100 stones” work for growing your business.
It’s not enough to understand your business, and your game plan, it is imperative that you have an understanding of the banks game plan, so that you have a dual game plan.
If you’d like to talk further about your finance plan, please give Jay Pyne a call on m: +61 0437 696 861 or email jpyne@heritagefinance.com.au
