Silver Medallist Effect

The 2024 Olympics in full swing.

I was reminded of research showing that bronze medallists, on the whole, appear significantly happier than the silver medallists who beat them out.

The silver medallist typically compares themselves to only one other athlete, the winner. Whereas the bronze medallist compares with all. Happy to not be fourth.

The researchers also presented a second theory: silver medallists likely go into a competition expecting they'll perform better than they do. Which is to say, they're more affected by "what might have been", and the silvers perhaps expect gold more?

And then a shocker. Silver medallists have a significantly lower life expectancy than their gold and bronze counterparts.

I remember the infamous ad campaign by Nike, around the (unloved) American Olympics in Atlanta, 1996. Anchored by this gem;

“You don’t win silver, you lose gold.”

Timeless, hey.

Then there's the classic trope;

First Is First, and Second Is Nowhere.

In selling we maybe have an equivalent.

One of the first pieces of best practice thinking drummed into me was a double whammy. Meant to instil optimal qualification and clean deal handovers. Namely;

'the biggest two wastes of a salesperson's time are coming second on a deal and post-sale firefighting.'

Taking the first point there gives a cold hard reality check not to end in the silver position.

I also note mention of this in Amy Edmondson's 2023 award-winning book Right Kind of Wrong. In rather thinking "intelligent failure", duly preferring to see any silver snapshot as staging post better reframed in terms of progress.

A further corollary comes when practically no sales operation I've ever been involved with has pitched themselves as market leader. Even if they 'secretly' were, the definitive way to elevate yourselves as a 'challenger' always works wonders. From the car hire industry No.2 Avis ad copy which helped haul in Hertz; 'we try harder'.

For instance, 'fastest growing' often used to counter any seemingly staid, complacent, post-innovation bigger competitor.

Silvered, with Golden aspirations, plans and thrust.

I've also attended countless Sales team award ceremonies.

Participation gongs usually absent. Yet there are plenty of 'silvers' that have performed minor miracles. And often with a 'gold' performance of their own contained within.

Most new inroads. Most incumbent removals. Most competitor defeats.

Once you know the psyche issues of the second-place you'll find it easier to overcome them and grab your own gold.