MyPunchblog

This post was written by Matt Douglas, Founder & CEO

This past Saturday was the 135th running of the Kentucky Derby. In a shocking victory, the 50-1 longshot Mine That Bird won the Derby. In the history of the Derby, it was the second highest payout for a Derby winner (the only higher payout was in 1913). In the leadup to the Derby, there was hours of analysis by countless experts, and not one of them picked Mine That Bird to Win, Place, or Show in the Derby. So what went wrong? How did all of the experts, pundits, and the betting public get it so wrong? Here are a few lessons that I think we can all learn from this year’s Derby. And it’s probably no surprise that I believe these lessons are useful for a startup too.

5 lessons from Mine That Bird:

1. How you start the race is important: Mine That Bird started the race cleanly, and didn’t stumble. It wasn’t important for the horse to lead the race at this point — just have a clean start and set yourself up for a good race.
2. Have a strategy you believe in: The jockey of Mine That Bird (Calvin Borel) had a specific strategy right from the start of the race. It’s a strategy he used when he rode Street Sense to victory only a few years ago. Have a strategy you believe in right from the start.
3. Ignore the competition: Even with 17 other horses around you, focus on your strategy and do your best to ignore the competition. It’s your race to win, if you focus on your strategy and execute.
4. Know when to accelerate: The key to winning the Derby is to know when to accelerate. Mine That Bird had enough in the tank to turn for home and accelerate when it mattered the most.
5. Celebrate your success: Anyone who watched the Derby will never forget the image of that crazy jockey Calvin Borel screaming at the top of his lungs and waving to the crowd. The pure joy was infectious. Know when it’s time to let loose and celebrate.

There is so much we can learn from this year’s Derby winner, and I found it very inspiring. Are you the underdog in your market? Do the experts and pundits think you have no chance to “win it all?” What other lessons can you learn from Mine that Bird?

This entry was posted on May 4, 2009 at 9:56 pm and is filed under Startup. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.