Many of you might not be aware that this off-season one of the best pitchers in all of Major League Baseball is free to sign with whichever team he chooses. That pitcher is the hard throwing lefty, CC Sabathia, a Cy Young winner with Cleveland in 07 and a THE reason the Brewers made the playoffs this year after a mid season trade sent him to Milwaukee.
He is arguably the best pitcher in the game, in his prime, and has been relatively injury free his whole career. He is a commodity like no other in baseball, and given the other available free agents, he is without peer.
Almost 3 weeks ago now, the NY Yankees made an offer of employment to CC for 6 seasons. Reported salary....$140 million dollars!
Has he accepted? No.
Why not???
CC has lev-er-age. (no, not the Finnish band)
Certainly this is a by product of his skill, but it has as much to do with the rarity of this skill, the rules of MLB free agency, and the presence of a team from NY with more money then many countries.
He is one of the best at what he does, can choose to go where he wishes, and knows that every team on earth could benefit from his talents.
What a great place to be!
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Leverage is defined by the Random House dictionary as; noun- "power or ability to act or to influence people, events, decisions, etc.; sway".
Having leverage is a good, in fact, GREAT, thing when used appropriately.
Unfortunately, the verb usage of the word, "to exert power or influence on" is what often comes to mind, denoting a devious act.
While many have leveraged their position for less then righteous reasons, being in a place where one can call the shots is a nice luxury to have.
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Here's an example of how a business can leverage an asset that they create.
Bonobos is a menswear company focused on a singular thing: Making pants that fit great, and look good. They've built an attractive brand personality and have a fine product. However, this is not expressly unique to Bonobos. What is, is their creation story, which they are leveraging to shape their spirit and market strategy.
Founded by Andy Dunn and Brian Spaly, Brian conceived the product after a dissatisfaction with the ill fitting pants he'd find in a typical menswear store. His frustrations came to a head, leading him to buy his own fabric and sew up a pair of trousers that actually fit. Sharing this creation with Andy and some of their friends, they realized they were on to something, so decided to give it a go, formalizing the company and brand in 07.
Since they both also shared a distaste for the mall shopping experience, they decided to launch the business strictly online.
(Added features like free shipping and returns account for the current "try before you buy" mentality in clothes shopping).
What they have effectively done is taken something that is their personal story and build a business on the fact that most men would agree with them. They are connecting with their consumer by leveraging this insight and innovation, and carving out a nice share of the marketplace because of it !
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It might seem obvious, but it's done less often than you would expect.
Anyone know the story of Polo off the top of your head? How about Blackberry or Rolex? Definitely successful brands, but they haven't leveraged their creation story, instead relying on product benefits and marketing to maintain their position.
How many more of you can tell me how Nike and Gatorade began; companies, who (like Bonobos) have utilized their genesis to convey a mission and connect with their consumer.
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Consider what you or your company have for leverage.
Are you utilizing it to it's fullest potential?
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