Hockey great Wayne Gretzky used to say the secret to his remarkable ability was always skating in the direction of where the puck was going to be, not where it was. He had an uncanny ability to perceive in advance what others would do and, therefore, where the puck was going. I always had the impression watching him that he knew what others were going to do before they did.
Many hockey analysts say Gretzky had a God-given gift, an innate understanding of the game to go with natural athletic skills that enabled him to soar above others. I don't believe it. To be sure, he had a natural gift for hockey. But, and those familiar with him might know this, he nurtured this natural gift from a very young age. Every winter, his father would create an ice pond in the family's back yard in Canada, and the two of them would spend countless hours playing together. His father, recognizing his son's potential, coached him and taught him to make the most of these innate abilities. Born to be great? To some degree, yes, but hard work made "The Great One" shine for so long. And that ability to sense where the puck was going and what other players would do was developed through serious study and countless hours practicing and observing others.
Success in business is not that different, is it? Some people are probably "born" with a natural gift for business, what United Rentals CEO Brad Jacobs calls "the ability to smell a buck." But it also takes what Jacobs calls "fire in the belly," a desire to be successful. Clearly one of the ingredients is to understand the game - or the market - you're playing.
The past few years have been strong in equipment rentals. But we might be heading to a more uncertain period of change. That's why it's important to head where the market is going to be, just as Gretzky did with the puck. What do you want to achieve in five years? Where is your company heading? Where do you want to take it, and what do you need to do to get there?
There is no easy blueprint for most rental companies. It will take thought and discussion and study. Build that little rink in your back yard and practice for hours. Observe what others are doing and figure out why. Think about what factors will influence your business environment. Listen to and consult with wise thinkers who might not have been there before - because we're in for different kinds of changes this time - but have learned to observe and practice and anticipate changes in direction before they happen.
In the coming months, RER also will be tapping the brains of many of the industry's smartest thinkers. We'll do our best to illuminate the curves down the road.
