11/ 21/ 2006
The Expert:
Pete Peterson
CEO, Interactive Supercomputing, Inc.
www.interactivesupercomputing.com
Waltham, Mass.
I have been told that I am one of the nation's oldest high-tech entrepreneurs. I was nearly 70 years old when I started my latest venture, a software company specializing in supercomputing. This is my fourth start-up and follows one that successfully went public in 1999 and another that sold in 2002. And until two years ago, I was also one of the world's oldest competitive rowers, often winning world champion skull races against much younger athletes.
Sports metaphors are overused in the business world, but the theory, philosophy and discipline I gained from 20 years in rowing directly influence how I lead my young company through its growth pains. For me, applying a passion to the way I run my businesses has been helpful. I suggest other business owners look for similar inspiration--whether sports-related or not.
Perhaps the most important rowing principle I apply to running a start-up is commitment.
I started rowing in my college years at M.I.T. Later I got married, raised a family and forged a career, and I didn't return to competitive racing until age 50. But for the 18 years that followed, I was part of a national- and world-champion rowing team.
I was only able to sustain this streak with a total commitment to excellence, training six days a week and constantly seeking ways to improve my stroke and stamina--not at all different from running a start-up. The high-tech industry is littered with the remnants of many business owners who sought quick riches and quick exit strategies. But unless you accept a long-term commitment to excellence, your business is likely to fail. Each day will present challenges, problems and deterrents. You and your employees must be mentally and physically prepared to battle, endure and conquer--and then face the next day's challenges the same way.
Whether leading a company or competing in a race, the challenges are constant and require that you work hard, pace yourself, learn quickly, improve and otherwise remain committed to excellence.
The other key rowing principle I apply to my venture is management through synchronization. The world's best rowing teams achieve a perfect balance of teamwork and individual effort. Communication and trust are critical. When rowing, you and your teammates have to sense the precision and timing and be able to make adjustments to win. The team's synchronization allows for communication that transcends what is spoken or heard. As with rowing, in a start-up you need to assemble a team of the best possible people and ensure that they'll execute individually and excel when synchronized with the rest of the team.
While the full-time demands of my new business have forced me to give up world-class competitive rowing, I still stay active at the club-team level. In fact, I've taken the symbiosis between rowing and start-ups one step further by assembling a rowing team of company employees. I hope to instill into a new generation of leaders the same principles that have guided me.
How running a business is like competing in a race
- You have to be committed to the long haul. Instant success is rarely lasting success.
- You'll face relentless obstacles that you can't always prepare for. Learn to take a deep breath and move ahead.
- Team synchronicity is crucial. Hire for personality as much as skill. If team members don't get along, your business won't be productive.
- Communication among team members is crucial to success.
How to make sure you win the race
- Make a personal commitment to excellence. If you believe that you will succeed, and if you work consistently toward your goal, you will be successful.
- Pace yourself. Expend only as much energy as necessary for a given task.
- Don't micromanage. Focus on your own oar. Hire people you can trust, then trust them to do their jobs.
- Learn how to adjust when something is out of kilter. Business is never smooth sailing. There will always be challenges to handle.
