How To Make Your Organization More Successful

By: Kaydee Ambas · April 25, 2023 · Reading Time: 3 minutes

Doubling Down on Success

Let’s say you’re on a basketball team, and when the game is on the line, your best player hits a game-winning shot. In the next game, you need to pick someone to shoot the last shot. Would you choose the same player?

Most professional sports teams — and companies — would say, “Yes.” In both sports and business, successful teams have a tendency to over-rely on their star performers.

While this can work in the short-term, a handful of recent studies suggest this approach might actually inhibit long-term success.

The Success Trap

When one person on a team is appointed as “the superstar” it creates a steep hierarchy on the team. Over time, this makes the team less adaptable and ultimately less successful. Once the hierarchy is established, the game plan slowly transitions away from brainstorming solutions as a group and toward unilateral decision-making.

On a sports team, this type of hierarchy will likely result in one person forcing a bad shot, rather than passing to an open teammate. And in business, it can restrict important decisions to a handful of perspectives, stifling the diversity of ideas that could be contributed by the rest of the team.

Avoiding the Trap

One way to avoid this “success trap” may be to focus on setting goals with an extended time horizon.

This forces the team to remain flexible and versatile for the long haul, rather than getting caught up in short-term successes. A key part of this strategy is giving employees the opportunity and incentive to experiment and take risks.

Sure, there may be mistakes made in the short-term. But as always, mistakes present learning opportunities, allowing your team to become more experienced and resilient. Over the long run, your team will be better off because of them — and will consist of not just one superstar, but a team of superstars.

Looking for more stories like this? Check out On the Money — SoFi’s one-stop-shop for news, trends, and tips!

Check it out

Please understand that this information provided is general in nature and shouldn’t be construed as a recommendation or solicitation of any products offered by SoFi’s affiliates and subsidiaries. In addition, this information is by no means meant to provide investment or financial advice, nor is it intended to serve as the basis for any investment decision or recommendation to buy or sell any asset. Keep in mind that investing involves risk, and past performance of an asset never guarantees future results or returns. It’s important for investors to consider their specific financial needs, goals, and risk profile before making an investment decision.
The information and analysis provided through hyperlinks to third party websites, while believed to be accurate, cannot be guaranteed by SoFi. These links are provided for informational purposes and should not be viewed as an endorsement. No brands or products mentioned are affiliated with SoFi, nor do they endorse or sponsor this content.
Communication of SoFi Wealth LLC an SEC Registered Investment Advisor
SoFi isn’t recommending and is not affiliated with the brands or companies displayed. Brands displayed neither endorse or sponsor this article. Third party trademarks and service marks referenced are property of their respective owners.

TLS 1.2 Encrypted
Equal Housing Lender