10 Lessons my Ducati taught me about Governance

It may seem an unlikely synergism, however, I’ve come to realise my experiences as a motorcyclist are very much aligned with my approach to governance.

It is very common for people to be surprised to learn that I’m an avid motorcyclist and that I ride a high performance Ducati. To be honest, for many years I did not share this aspect of my personal life with my professional network for fear that I would be judged unfavourably.

However, my experience as Secretary of the Ducati Owners Club of Victoria Inc. gave me confidence to talk about my affiliation with motorcycling. And the more rider education I undertook, the more I realised the synergies between motorcycling and risk management in the boardroom.

Success in a motorcycling context is being able to accurately interpret what you are seeing, feeling and hearing, and to translate those inputs into a series of decisions to achieve the desired outcomes.

The elements of success in a motorcycling context are not dissimilar to the elements of success in a governance context. To demonstrate, I have highlighted 10 lessons that are equally as important in keeping the ‘shiny side up’ as they are in carrying out fiduciary duties:

1. Understand the risks

Whilst it may seem obvious, history demonstrates that it is not uncommon for motorcyclists or directors to lose sight of the risks inherent in their enterprise. The dot.com bubble-pop and global financial crisis are examples of corporates neglecting to fully explore their ever-ballooning risk exposure. Who wants to be a stick-in-the-mud? Everything was booming, why spoil the fun?

Stats paint the picture for motorcyclists: Each year, motorcyclists account for approximately 200 road deaths in Australia. In addition, Australia records approximately 100 new motorcycle-related spinal cord injury cases. Those stats don’t include other serious motorcycle-related road trauma injuries but I’m sure you get the picture.

With a clear understanding of the risks, the rider and the board can assess and implement appropriate mitigation strategies to successfully navigate the road ahead.  When you lose sight of the risks you tend to do silly things and, if you don’t get hurt, you begin pushing the envelope further and further. That moment when you realise your confidence exceeds your competence is not a happy one, I recommend you avoid it.

2. Maintain confidence

Continuing with the theme of confidence, there is a big difference between grounded confidence and arrogant confidence. It is not uncommon for the arrogant variety to lead to adverse outcomes both on the road and in the boardroom. However, having confidence grounded in awareness is necessary to push the machine to its peak performance in any given situation.

A lack of confidence, both in the boardroom and on two wheels, can lead to rigidity, tunnel vision and target fixation. Having the confidence to remain calm, relax and think straight are vital in navigating through a course that has been set but begins to reveal itself as untenable. 

In motorcycling, the throttle is your ally. Hesitating midway through a turn will transfer weight forward, tending to make the bike stand up and run wide. Rapidly shifting too much force onto the front tyre may also cause loss of traction. In governance, leaders also need to stay the course. A good strategy is well-planned and continually chopping and changing will undermine strategic effectiveness.

3. Keep your eyes ahead

I am embarrassed to admit I failed my motorcycle L’s first time around. I got the wobbles during the straight line at slow speed drill and had to put my foot on the ground to avoid dropping the bike. This happened because I fixated on the tarmac right in front of me. Looking up provides balance and maintaining a broad view of the road also enables awareness of potential dangers and avenues of escape should they be required.

By keeping your eyes ahead, as a rider and as a director, you gain a greater awareness of your surroundings and increase your consciousness of the space you have at your disposal. That knowledge of the space helps you to stay calm and make correct, accurate decisions.

It is not uncommon to slip back into the habit of fixating on the things that could harm you. After all, this is a natural human instinct. More often than not when I can’t get into the ‘flow’ I realise it’s because I’m suffering ‘in-front-of-me-itis’.

To counteract this tendency, I consciously lift my chin, force myself to look as far around the corner as possible and engage my peripheral vision. 9 times out of 10, this drill improves my riding (and enjoyment factor) immediately. Try it next time you’re anxious about a board decision and see how forcing yourself to see the bigger picture helps to clarify your thinking.

4. Respect your environment

In a motorcycling context your environment encompasses everything that contributes to the riding conditions: road surface, type of road, traffic, weather, temperature, glare, tyres, bike maintenance, riding gear, hydration, tiredness, how you’re feeling, distance travelled, distance remaining, time until next stop.

The rider must be aware of all these elements and modify their riding behaviour accordingly. A rider who does not respect the fact their tyres are wearing or they are feeling tired is exposed to a greater degree of risk.

This holds true for a director. It is imperative for the director to understand and be aware of all the elements of the business environment. Whether its macro-economic, industry or business-related, or to do with reputation, internal leadership or company culture. A good director must have their finger on the pulse of each issue and accurately read the state of the environment when making decisions. 

5. Throttle control

In motorcycling we talk about rolling on or off the throttle. Hard acceleration or braking can upset the weight distribution of the bike and cause loss of traction. My riding colleagues often comment on my smooth riding technique and tell me they enjoy following me on twisty roads. I too have more fun when I nail my throttle control, keeping the bike stable and allowing it to perform at its best.

Similarly in business accelerating too quickly, without governance structures in place to ensure sustained success, can have catastrophic consequences. Having recently come from the coworking sector, WeWork comes to mind. And anyone who has lived through a ‘right-sizing’ transformation project will understand the impact of abrupt deceleration.

In order to maintain peak performance in a commercial context, it is vital to keep on the gas as much as possible, without over-cooking it. Having to put the brakes on an enterprise will not only have immediate impacts it will also cause long-term performance issues as the business struggles to regain its mojo.

6. Read the road and plan your approach

Everything I’ve spoken about above comes into play when you’re planning your approach to a corner on a motorcycle. Your success and enjoyment as a rider will depend on your ability to put all of those elements together and make good decisions: 

  • ascertain the correct entry speed
  • determine your braking point if needed
  • consider the camber and turn radius
  • choose the line you’ll take
  • identify the right turning point
  • look as far as you can around the bend
  • hold the line
  • accelerate out of the turn, and
  • position yourself for the next one.

You may have never ridden a motorcycle but this gives you some insight into the thought process that a rider goes through. Using a governance lens the thought process a board might go through could look something like:

  • ascertain what governance and accountability frameworks are required
  • determine your funding needs and run-rate 
  • consider the competitive landscape and market demands
  • choose the strategy you’ll take
  • identify the right market entry point
  • look as far as you can beyond the present
  • hold to the strategy
  • accelerate market growth, and
  • position yourself for the next innovation.

7. Focus your attention on the right information

On a motorcycle, as in business, there is a myriad of information vying for your attention. Some of this data is useful in helping you achieve the desired outcomes, some simply distracts your attention from the task at hand. A renowned motorcycling author and rider trainer, Keith Code, uses the analogy of a $10 bill to demonstrate that attention has its limits. If you spend $5 on one aspect of riding, you only have $5 left to spend on all the other aspects.

When I first started riding, I was constantly being distracted by the yellow and black arrow signs posted around the outside edge of dangerous corners. A well-known motorcycling truism is “you go where you look”, so having $5 of your attention drawn to the outside of a bend is not helpful when, as a novice, you need $8 to get you around it. I had to train myself to stop noticing those stupid signs to enable $8 worth of attention to be spent on getting around the bend, keeping $2 in reserve.

My point is, there is a lot of information to take in and, as a director it is important to ensure you are focussing on the right information. Seek out the relevant data you need to make the right decisions and consciously avoid paying attention to anything that distracts you from the issues at hand.

8. Be aware of what you’re doing

Another gem of wisdom from Keith Code, taken from his book A Twist of the Wrist, is observing is the basis for change”. If you don’t leave a few bucks’ worth of attention in reserve to observe what you are doing, you won’t be able to determine which factors worked well and replicate them.

Nor will you be able to learn from mistakes. If you haven’t observed what you were doing you are likely to assign the wrong explanation for a mistake. In so doing, you are also likely to implement the wrong solutions to correct it.

These are universal truths and are especially true in the boardroom. A board that haphazardly goes about its business without any accountability, feedback or governance frameworks in place will inevitably fail.

9. Seek relevant advice

As a novice rider, it was inevitable that I would be offered all sorts of advice from my more experienced riding colleagues. Being eager to learn as much as I could, I tried to adhere to all the tips but the result was often confusion.

I had a moment of realisation when one ‘helpful’ club member advised that I needed to put weight on my outside footpeg in the tight bends. He assured me this was the holy grail of information he’d learnt that improved his riding out of sight in an instant. What he failed to realise was that my riding technique was vastly different from his and, for me, that advice was extremely counter-productive. After this, I only listened to advice from trusted sources and began to seek professional advice via advanced rider training.

As a director, you need to filter unsolicited advice from ‘industry experts’ and seek trusted advisors who have an understanding of your business and the context in which it operates. You must ensure those from whom you seek counsel are skilled at interpreting information in a manner relevant to your enterprise.

10. Tap into your intuition

Being able to listen to your intuition is an important and very helpful skill. In a riding context, I am a firm believer that if you’re unable to ‘get in the zone’ or your riding simply isn’t flowing, don’t push it. And let your riding buddies know that you’re taking it easy, so you don’t feel any pressure to ride at your usual pace.

The same applies in the boardroom. If something doesn’t ‘feel’ right, question it. If, after you get all the answers you need, it still doesn’t sit well with you, trust your instinct. And be honest with your board colleagues even if you’re not exactly sure why you can’t support the initiative.

Now that you’ve read this article, do you agree that there is a surprising synergy between motorcycling and governance? I’d love to know what you think and, if you’re a motorcyclists, whether there are any other similarities you have discovered.  Contact me to share your experiences.