Lessons from rugby / Die with zero (part 2) / Take your mask off / Time & space
November 2024
Lessons from rugby
As I read Danny Care's revelations about the toxic culture of Eddie Jones' England rugby team in the Times last week, I remembered the time Eddie came into Jupiter as a leadership guru to give us the benefits of his coaching wisdom on how to build world-class teams....
A friend with links into the English camp had already alerted me to the fact that all was not well and the warning signs gradually became ever more apparent: rapid turnover among his coaching staff; players being picked from nowhere and discarded equally quickly; club form being largely ignored; people being played out of position etc...
It was very much the cult of "Eddie knows best" and reminded me (as a long suffering Man Utd supporter) of Jose Mourinho at his worst.
🏉 I guess the key takeaway from his masterpiece "Leadership: Lessons from my life in Rugby" is you should never judge a book by its cover...!
Die with zero (lesson 2)
There was plenty of commentary on various changes to the inheritance tax rules in Rachel Reeves’ Budget. But I picked up two much more strategic thoughts about passing on your wealth before you die from Bill Perkins' thought-provoking book "Die With Zero" (https://amzn.eu/d/89jLmZ6):
1️⃣ If you are able to gift to your children or grandchildren while you are still alive, then you can enjoy seeing the benefit of the help you are able to give. Surely much more rewarding than some vague notion of supporting them after you have gone...
2️⃣ Help when it is most needed - do the maths. Your children will probably be most in need of financial support in their 30s and 40s when they are still paying for expensive mortgages, perhaps funding school fees and not yet having reached their own peak earning power.
Given the average UK citizen dies around 80, their children may be well into their 50s by then and past their time of peak need. Better to pass on (at least some) of that inheritance when it is most valuable to the recipient.
More thoughts on this from Bill Perkins here.
Take your mask off
Tuesday was International Men’s Day and yesterday I chaired a panel at a major City institutional where some very brave male leaders talked about some of the struggles & challenges they have faced in their lives, both professional & personal.
The Pitstop team conducted a Men’s Life Satisfaction Survey as part of IMD and some of the headline findings below were picked up in this Sunday Times Ireland article.
Men aged 25-34 reported the highest pressures related to societal expectations around careers and financial stability, with over 60% citing “imposter syndrome” as an obstacle in fulfilling their potential. Career success was defined differently across ages: younger men desired flexibility and enjoyment, while older respondents prioritized financial stability and personal fulfillment.
Work-life balance is a growing concern across all age groups. One 35-44 year old respondent commented, “this year I've had my most financially successful year, but I've had the least fun of my life” whilst another stated that “life has turned into constantly working”. Over 40% of men aged 45-54 reported high levels of stress due to financial responsibilities and career expectations.
Despite growing awareness, 54% of men remain hesitant to discuss mental health issues with their friends. “People will view me differently if I open up,” remarked one participant, aged 25-34. Anecdotes like this reflect a growing need for stigma-free spaces like the Pitstop forum where men can get support from others.
The study also revealed that younger men often grapple with issues of self-worth and confidence. “Men are always meant to just crack on and have no problems or issues,” commented one respondent in the 25-34 age group. Men in this demographic also expressed the greatest concerns about their relationship with social media, while those aged 65+ reported the highest levels of satisfaction.
I am really excited by the progress we are making at Pitstop to help men address some of these challenges and get the most out of their lives. We have a wonderful new CEO, Richie Choudhary, who has previously worked at Headspace, xBox and TikTok and brings a wealth of expertise in developing compelling consumer apps. It is a real coup for us to have him on the team.
There are more details about our plans in the attachment below. If you would like to find out more about becoming an investor in Pitstop then please ask me for the full investor presentation and a short intro video from Emmett (Pitstop’s founder) & Richie.
Time & space
“Myself and Thomas [Frank] often sit down and have a bit of lunch. After he signed his new contract [as manager in 2022], he said: ‘I’m jealous of you, Michael. You don’t understand, you’ve got one thing I’ll never, ever have and, by the way, that goes for most people in this building.”
I said: “Go on then”…
“Time.”
✳️ And that’s my innovation. I’ve got time and I create time for others to have time."
I loved reading in this Guardian article about the work Michael Caulfield MSc does with Brentford FC. I don't have a dog and a bench for my coaching, but I try to recreate some of the same effect by doing my client sessions while walking.
🚶🏻Just in the last week, I have taken people round Regents Park, along the river from Putney to Hammersmith and separately from the Millennium Bridge to Southwark, as well as a couple of laps of a lovely village in Oxfordshire. I now have an increasing number of international clients, so I send them off walking (with their AirPods in) round the parks of New York, Dublin, Barcelona and Tallinn while we talk.
I am firmly of the view that if you give smart people the time & the space to reflect and discuss their challenges and whatever they may be struggling with, then - even if they can't "solve" the problem outright - they will emerge in a much better place than where they started.
And my step count is off the charts...
Have a good weekend
Steve