How do you prepare for a once in a lifetime event?
Bud Denker, President of Penske Corporation, knows it takes a lot of planning, a lot of focus and a lot of dedication. But he also knows it takes something else—a good story.
This summer, as Bud leads his team to prepare to host The Freedom 250 Grand Prix in Washington, D.C., on August 23, he finds himself in plenty of planning meetings. But instead of oversaturating the team with long to-do lists, Bud starts with something more relatable.
He talks to them about getting up at 5 in the morning. He tells them about walking the National Mall—the area of D.C. where the 1.7-mile race will take place—to reflect. In particular, Bud sits at different Memorials and remembers the country’s history and all who sacrificed for it. He tells them that, too.
Why? So that they can understand where he’s coming from, how he feels about the moment. And why the moment they are part of is so big.
The upcoming Freedom 250 Grand Prix – created to celebrate America’s 250th birthday – was authorized by a presidential executive order. It is the first auto race in the nation’s capital—ever. It’s a big deal.
Penske, which is the winningest team in IndyCar racing history, is synonymous with high-performance, both on and off the race track. And Bud knows that success in any endeavor takes more than effort and determination. It takes connection. That way the moment can mean that much more.
“As with anything you do in sports and business,” Bud explained on a recent episode of the Corporate Competitor Podcast, “it’s all about communication—developing relationships, developing trust, developing confidence.”
Of course, it’s not always easy to share, to be vulnerable. As business leaders, sometimes it can feel easier or even smarter to stand in front of a room and list off a string of bullet points and then conclude the meeting.
But doing so forgets one key element—the people we work with.
Until AI takes over every corporate office and board room (joking!), business will always be about people. At the end of the day, we should all be trying to make each other’s day a little bit easier, right?
We can’t lose sight of that. And the stories we share remind us of our common bonds.
It’s fundamental to remember. But it’s also an idea we too often forget to act on. As leaders, do we always take a few minutes to remind our team (and ourselves) why we are trying to achieve a certain goal?
Before we dive into the action items, do we take a beat to think about why it matters?
The Freedom 250 event marks a significant time for any American racing fan. Bud knows it. But to convey the point to his team, he connects the event to his own personal experiences. Because a story can transcend any action items, budget statement or status report.
“How lucky are we,” Bud reminds everyone before the meetings, “to leave a fingerprint on something you will tell your grandkids about.”
What a powerful lesson in how to pull energy into any meeting.
As a Hall of Fame keynote speaker, longtime Associate Editor for Sports Illustrated, and 13-time New York Times Best-Selling author, Don Yaeger is one of America’s most provocative thought leaders. From walking into Afghanistan with the Mujahadeen to living with football legend Walter Payton, Don has spent three decades embedded with the world’s greatest "Greats." Now a sought-after executive coach and host of the Corporate Competitor Podcast, he translates the lessons of sports and business legends into actionable strategies for building a culture of greatness.
