WEBVTT - Quick Bite: From the Olympics to the boardroom–How Rob Scott handles pressure

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<v Speaker 1>You're listening to a Shears These podcast.

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<v Speaker 2>Let's chat about you. You're a dual Olympian, Silver mid middleist,

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<v Speaker 2>investment banker and now CEO. I want to Australian's largest companies.

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<v Speaker 2>What's your secret to thriving under these pressure cooker environments.

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<v Speaker 1>The first thing you learned very quickly as a CEO

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<v Speaker 1>is really it's not about you, it's about everyone else

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<v Speaker 1>around you, right, So I think it's ensuring that you

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<v Speaker 1>have phenomenal people working with you. And I don't mean

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<v Speaker 1>good people, I mean phenomenal people. And you come back

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<v Speaker 1>to where we started, which is we want to deliver

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<v Speaker 1>a top quartile total shareholder return. We want to be

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<v Speaker 1>in the best twenty five percent of companies over the

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<v Speaker 1>long term. And if you have great people, then they

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<v Speaker 1>are going to be very capable of making the right decisions.

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<v Speaker 1>So as a leader, you just need to create the settings,

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<v Speaker 1>the culture of the environment and the support for them

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<v Speaker 1>to ultimately get on and make the right decisions.

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<v Speaker 2>As there any listens that you've bought over from sporting

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<v Speaker 2>into business.

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<v Speaker 1>When you're training with a group of people that every

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<v Speaker 1>day you get up and you're trying to be the

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<v Speaker 1>best in the world, and every single thing you do,

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<v Speaker 1>from what you eat for breakfast and your training session

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<v Speaker 1>to the stretching and the recovery and the planning all

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<v Speaker 1>and all of that is about being the best in

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<v Speaker 1>the world. There came a point in time where it

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<v Speaker 1>was very clear that physically I was not going to

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<v Speaker 1>be the best in the world in sport anymore. But

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<v Speaker 1>you know, I wanted to be part of a team

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<v Speaker 1>that shared a similar sense of ambition and that's what

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<v Speaker 1>I love about West Farmers. And for a business like

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<v Speaker 1>Bunnings to be successful or came out to be successful,

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<v Speaker 1>we genuinely have to be the best in the world.

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<v Speaker 1>Like we are fighting tooth and nail with companies like Amazon,

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<v Speaker 1>with Costco, with Audi that are really large international companies,

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<v Speaker 1>best in their class. So you know, that sense of

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<v Speaker 1>trying to be the best in the world I think

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<v Speaker 1>translates really well from sport to business.

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<v Speaker 2>So before we reap, do you have a favorite quote

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<v Speaker 2>or piece of advice that you've picked up along the way.

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<v Speaker 1>One of my favorite quotes is when the horse is dead,

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<v Speaker 1>get off, And I think that actually has a lot

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<v Speaker 1>of relevance in investing. So for your investors out there,

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<v Speaker 1>sometimes you need to know when to you know when

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<v Speaker 1>to get out right. Hopefully that won't be the case

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<v Speaker 1>with the West Farmers right. But look, if there is

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<v Speaker 1>a quote that I think is very inspiring and relevant,

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<v Speaker 1>it's that old Roosevelt quote the critic. It just talks

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<v Speaker 1>about how easy it is to be the critic. But

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<v Speaker 1>really what matters in life, it's the person in the

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<v Speaker 1>arena that's trying that failing, they're getting up, they're having

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<v Speaker 1>another go. And you know, in history, in life, in business,

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<v Speaker 1>in sport, it is those people that ultimately create value,

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<v Speaker 1>create change, do special things. And i'd like to think

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<v Speaker 1>that you know, in the West Farmers group, we have

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<v Speaker 1>far more people in the arena having a go than

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<v Speaker 1>we do critics sitting on the sideline commenting on things.

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<v Speaker 2>Investing involves the risk you might lose the money you

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<v Speaker 2>start with. We recommend talking to a licensed financial advisor.

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<v Speaker 2>We also recommend reading product disclosure documents before deciding to invest.