What Business Leaders Can Learn From The McMahon’s Family, And What The WWE Can Learn From Platform Thinking

Since the beginning of this year, I decided to take a journey back into my life. Back as far as my memory could take me. My primary objective is to connect all the dots, ranging from the minor ones, passing to the significant episodes, all the way to the catastrophic events.

At my childhood station, WWE (WWF in the 80's) detained a sizable portion of my imagination. Having my imagination imprisoned with (e.g. Hogan, Warrior, Roddy, Randy, Bret) cannot be merely classified under the entertainment folder. For example, being able to speak publicly can be a recall of my imitation to Hogan and Piper. My physical capabilities have directly yielded from my countless WrestleManias’ moment with my friends at home and school. WWE gave me a rich content to strengthen my bonds with the people around me, and it gave me the confidence to talk about what I love with whom I love passionately. I never thought that I would reach a point to write about it. Until I came across Nassim Taleb’s book “SKIN IN THE GAME”.

While I was listening to the audiobook, the McMahon family manifested in my mind. Then suddenly, the picture became vivid, when Mr Taleb introduced the phrase “SOUL IN THE GAME”. Immediately, my brain made a connection and projected the episode of Shane McMahon throwing himself from the top of the steel cage, all the way onto the announcing table.

My brain was trying to define the true meaning of Soul in the Gamedepending on my memories recollections, and it chose the WWE to portray the result. I don’t think Mr Taleb ever thought that someone’s brain might link his book to the WWE.

Why on earth, would the son of the Chairman of WWE, took such a fatal leap? Some might say, Shane was out of his mind, others may say that the WWE corporation was desperately in need to add a few percentages to their stock price. I see it as an act of Soul in the Game. No amount of fortune nor fame could be enough of a drive for someone like Shane McMahon to take such a leap, risking his own life in front of his kids.

Shane, please don’t do it again, you made your point, you even frightened the Dead Man. When you do such an act, then the next day our kids see you on Smackdown walking normally, they may in fact follow your lead. The “Don’t do it, at home or school” slogan won’t mean that much.

Now let’s move to the father, the Chairman, Vince McMahon. Here I would like to take the liberty to introduce a new phrase, “Hip in the Game”. When Brock Lesner came back to WWE, one of the first scripted encounters was face to face with the Chairman. To add some spice, Brock delivered a vicious F5 to the Chairman. Go ahead and watch the last minutes of the video. You will physically feel the pain in your hips.

Once again, why would a 72 year old Chairman, risk his “hip” and his health? does anyone think Vince, did it for a bonus? I don’t.. He was merely showing the true meaning of skin in the game.

How about WWE’s own bred and daughter Stephanie McMahon. She too got a beating of her own by Ronda Rousey! I think it is challenging to encapsulate Ronda within a risk-free script. Stephanie took a fair share of physical exhaustion that night. If you don’t like Stephanie, you will enjoy this video.

I am sure that Stephanie got her inspiration by her husband Triple H. A rare kind of inspiration of showing such thick skin in the game.

Last year, I surprised my son, Faisal, on his birthday, and took him all the way to Abu Dhabi to attend a WWE event. I witnessed how Triple H, was delivering joyful vibes, energy and happiness to the audience. My kid was chanting his name the entire match with Roman. You can’t seize a six year old’s attention for so long unless you are putting your “Heart in the Game.” I was saw how Triple H was investing every gram of his muscle to entertain us.

The lesson is crystal clear, the old cliche “Tone at the Top” is no longer enough. It should be replaced with “Act at the Top. The tone must be covered with a thick skin in the game. Leaders are required to do more. The McMahon’s family are not just “Walking the Talk” they are “Wrestling the Talk”.

Leaders who squeeze themselves into slim fit expensive Italian suits, and ring-fence themselves with notional toughness and aggressiveness are merely alienating themselves from the rest. Leading in an era of cross-functional, multi-generational workforce is tough. Fear, paycheck and job security are not as spooky as they were during the industrial age. People (at least this is what they believe) can quit and start their own business in a minute. The leader must replace the old “carrot and stick” model with “respect and accountability” model.

The word respect does not mean being nice to people. Respect under this model means;

• Creating a governance system where everyone has equal voice and place on the table.
• Adopting a culture where ideas can flow from all levels of the organization.
• Promote a multi-directional knowledge transfer.

Once you master the respect part of the equation, the accountability part will kick-in naturally.

Respect can’t be gained via an executive memo or email to all staff. Watch this video to learn how Shane earned the respect of the WWE’s entire locker room. Every leader must find the relevancy of Soul in the Game to his/her business. To be clear here, if you are running a bus station, don’t throw yourself under the bus, this called “stupidity in the game”.

As a leader, you need to find your company’s locker room. The key people you need to reach, usually hang out there. I will give you a hint, it is NOT the Boards’ meeting room. You need to understand the core of your business and the key people who are responsible in running it. I mean the real people, the real doers, and not merely the decision makers.

As a leader, how many times have you engaged with your key people? Please don’t count the four quarterly board meetings. How many times you really interacted with your key people. Again, I don’t mean passing resolutions in Board meetings. I mean real actions! When Vince received Brock’s F5, he was not just entertaining the WWE universe. The 72 year old Chairman, sent a message to the WWE superstar, that if we want to entertain the WWE fans, we will take some tough beating from the Beast. Who can complain after such an actionable message?

You as well must show some skin in the game. As a chairman of an Investment Bank, ask yourself when you had a discussion with the investment team, your true “locker room”, not the CEO, CIO or other executives. When was the last time you had a conversation with the wealth management team? Humble your ego, sit with them, go out with them, what about attending a client meeting with them. You think this is too much? I guess you skipped Vince’s video. Try to experience what investors want and demand. I bet, you never visited the financial control department, don’t just look at the numbers, look at the people who generate these numbers, understand their pain points. See your team in action and not just in meeting rooms, guide them and learn from them.

This is how the WWE is still in the game. They have skin in the game, and they respect their customers’ needs. They give respect to gain respect. We saw it in action during the recent greatest Royal Rumble that took place in Saudi Arabia. All superstars gave their best to make such event a successful one. Since that we are talking about the greatest royal rumble, this is a must-see clip. My apology to Titus.

With this, we reached the end of the first part of this post. Now let us move to the second part.

What the WWE Can Learn from Platform Thinking

At the very beginning of this post, I shared a few things gained from the WWE. It took me decades to make meaningful connections between them. In fact, they were not directly derived from the WWE’s core value proposition (i.e. the main events). They rotate around “experiences”. Unfortunately, until this date, the WWE is not capable of deliberately producing such ancillary value propositions in a sustainable and scalable way.

At this junction, the post will diverge to a new pathway. Here, I will try to squeeze-in, some of the platform thinking and building blocks into the WWE universe. We will explore if it is possible to create, enrich and capture such experiences, in a fundamental way.

First, I would like to say that it was a massive move for the WWE to embrace the Network mindset. But, unfortunately, it is still constructed based on the industrial age building blocks. The WWE upgraded their old physical based pipe model, to a web/networked based pipe model (i.e. they still create and control the content, and then push it to the end users).

In his book, Sangeet Paul Choudary identified three key shifts that manifest the movement from a pipe business model to a platform-based business model;

a. Shift in Markets: From Consumers to Producers.

b. Shift in Competitive Advantage: From Resources to Ecosystems.

c. Shift in Value Creation: From Processes to Interactions.

These are in fact fundamental shifts in the business landscape, which require a holistic mindset shift. The good news is that the WWE universe doesn’t need such comprehensive and transformative shift, at least not yet.

At this point, what is required, is a gradual integration between the two models. Let’s call it a reverse integration technique (i.e. instead of suddenly moving from pipe to platform, what about gradually bringing the platform building blocks into the WWE universe). This reverse technique allows you to treat your organization as a platform, although it is not yet a full-fledged platform. For a quality read on how to manage your organization as a platform, you should have a look at Simone Cicero works.

Let’s explore how such integration might expand and evolve the horizon of WWE’s value propositions along with its customer segments by tapping into an ocean of non-customers.

Physical — Physical: i.e. Selling WWE Superstars’ figures. Since decades the WWE produced these superstars’ figures and sold them to kids. Selling a toy requires a physical place, a toy store. And as we know, kids need their parents to take them to such toy stores (huge friction in the process). Now imagine yourself with your kid in front of a shelf featuring the latest figure of WWE (e.g. the Miz) and latest figure of the Avengers (e.g. Thor or Hulk). I think the Miz chances to be picked is meagre (another huge friction). The whole process is inefficient. One product at One location to One customer.

Content — Web/Digital: e.g. Sell Digital Games (i.e. WWE 2K18). Still, you can go to a physical location to buy the CD. A better approach is to buy the game online (e.g. via PlayStation Store). First, we can see that huge friction has been removed from the process. Kids can log-in and buy the products by themselves. The other issue is that the product can be used by more than one, even by non-fan (e.g. family members and friends etc.). A much better approach. One Product @ virtual locations to multi-customers.

Experience — Platform/Ecosystem: If the WWE utilizes the power of platform thinking. They will be able to tap into new territory (the land of exponential opportunities). What about selling EXPERIENCES. With such move, the WWE can tap into non-customer segments. A new concept advocated by W. Chan Kim & Renee Mauborgne in their recent book Blue Ocean Shift.

What I mean by selling experience, is “monetizing” the superstars (e.g. monetizing John Cena) don’t get me wrong. I don’t mean commoditizing John. I mean better utilization of John’s time and expertise. Packaging his expertise, for different customer segments and even non-customer segments. A quest to embed John’s expertise within engageable and actionable contracts (Athletic, Health, Nutritional and Educational etc.). Let’s explore few examples.

Educational and Athletic Contracts: The WWE can package a training program for kids, (i.e. live training session conducted by John, were kids could log-in and follow John’s instructions, for free). I know that Vince, will not appreciate the word “free”. But, free in the platform world has a deeper meaning than what the simple four letters reveal. It is deeply rooted in a powerful concept called “critical mass”. Consider it as a bait for a more prominent business transaction. Once, reached, “i.e. the critical mass” the WWE can leverage such experience on a multi-dimensional level and can scale it on an institutional level, by tapping into non-customer segments. The WWE can monetize such experiences by contracting with Schools around the world.

How might this work?

The WWE can schedule training sessions, call it “Little Stars Coaching” featured by John and customized for kids. The subscribed schools can join the live session by streaming it on giant screens. Based on the interaction (e.g. via social media) John can choose a few schools and can have a direct chat with the kids. The training session can be holistic (e.g. John can even inspire them in building their confidence, in public speaking, anti-bullying etc.).

What about a different experience in the athletic domain! Competitive-Based Training for adults. The same concept, but this time with Fitness Centers. Scheduling training session, call it “Challenge the Superstars”.

Let’s imagine this experience in action; The Rock enters the gym to perform his usual training session. The live broadcast starts, the subscribed fitness centers start streaming the session. Eligible members can challenge the Rock in squat lifting. Suddenly the whole episode goes live on social media. This will be a massive advertisement for the fitness center and great social exposure for the members, and efficient utilization of the Rock expertise. The WWE will be able to commercialize Rock’s training session.

Health and Rehabilitation Contracts Let ‘s say that one of the WWE Superstars got injured and was required to undergo an operation followed by a six-month rehabilitation and strengthening program. Can such period be monetized? Why not? Let’s assume Seth got injured. During his recovery program, the WWE can broadcast it on a subscription basis. People who are suffering from a similar injury can livestream the session and interact with Seth. Such interaction underpinned by sharing pains and compassion will strengthen the relationship with the superstars and will result in a different level of bounding. From a psychological point, this might even help the superstar as well as the other patients to recover faster. Imagine scaling such experience on an institutional level (i.e. contracts with rehabilitation centers, Hospitals etc.).

My objective with these examples is to seed an idea and let your imagination to nurture it. Before leaving this point, what about planting new idea? Maybe one day the WWE’s Divas can deliver sessions to pregnant women to guide them how to get back in shape after pregnancy.

This whole episode of designing experiences can lead to the birth of new and powerful concept “creation spaces” as advocated by John Hagel. Have a look if you are interested in John’s theory.

What else? I am sure that you are familiar with the concept of Network Effects, if not, I highly recommend the Platform Revolution by Sangeet & The Network Effects Bible by James Currier.

Network Effects: Let’s see how the WWE can harness the concept of network effects. We have seen recently how active the WWE Superstars on social media are (e.g. Twitter), In case you want to know my view on what Twitter can do towards enriching our relationship, have a look at my previous post.

There is nothing innovative about making a superstar tweet about something to get attention (return on attention last for few minutes only). To make an impact, a prolonged one, the WWE must innovate in how they use such media.

For example, why not embedding twitter into the game? Allow WWE’s Fans to be part of the match by harnessing the power of Twitter. How?

Let’s loosen up our imagination.

For example, during the Royal Rumble Match, why don’t the WWE hand over the control of deciding who shall enter the ring every 2 minutes, to the WWE universe.

Or why not create a new episode (e.g. Social Mania or Social Rumble) with new rules. The WWE can design a match with more exceptional experiences, by embedding the social interaction into the game. For example, a new ladder match, where the fan can control the Hight of the hanging built. Instead of just chanting for or against the superstar, the fan, for the first time will be able to participate in the match. They can help or prevent a superstar from getting the built. Allow fans to participate in writing the destiny of the superstar.

Collaborative Mindset: So far, we talked about critical mass, designing experiences and network effects. It will not be logical to talk about platform thinking without mentioning the collaborative behavior. So, let’s bring some “collaboration into the game”.

What if during the next WrestleMania, the ring takes a vertical shape? A ring on a rotating stage! What about creating a new match (vertical match), were superstars can wrestle vertically, maybe trying to reach something at the very top?

What if the WWE collaborate with Cirque du Soleil, in bringing new concept and allow the WWE to blue ocean itself, by bringing more arts, colors, gravity into the game. Such collaboration can take the concept of sports entertainment into the next level. Honestly speaking I don’t have a clue how this next level might look like, but I guess if the executives at the WWE and Cirque du Soleil sits around a table they can do wonders.

I bet that, Shane can be the star of the first vertical match, he can throw himself countless times, safely!

My point is simple, embracing a collaborative mindset will unlock infinite possibilities to new experiences.

The above was a collaborative example on an institutional level. Let’s examine if it is possible to collaborate on an individual level. Things can get interesting if the WWE are open to share the pie with its universe. Don’t get panic, before sharing the pie, it will be injected with growth hormone? Platform thinking allows the pie to expand, exponentially.

Do you still remember the three major Shifts stated above? Good! Get to know them. They will be of great help. Let’s put one of them into action.

What if the WWE can view their customers as producers. What if the WWE can open the process of designing t-shirts? A concept like https://www.threadless.com/ Allowing fans and designers to figure out what they want. The winning design can be printed and sold. Then the designer can get his cut of the profit. This is not outsourcing of the design process. This is a whole new concept constructed based on collaborative ideology. With such thinking, the WWE can move from controlling resources to managing the ecosystem and form linear process to exponential interactions. Now remove the T-Shirt from the above example and use your imagination.

Talking about tools, we must understand that designing experiences is a challenging task that can’t thrive in a vacuum. You can’t just lean back and think. You need a set of tools to help you in architecting the envisioned experience. For this post, I am introducing a tool that can extend a hand to assist you in climbing this new mountain.

The Platform Canvas: A tool that helps in mapping key players, key interactions, key experiences around the core value proposition. The platform canvas allows its user to envision experiences beyond the direct domain of the platform. It portrays the possible roles of all stakeholders within the ecosystem, who can enrich the interactions. Besides, it introduces the universe layer which allows the governing authority of the platform to explore new experiences, by tapping into the non-customer segment (i.e. a world of non-stakeholders) aiming at creating new demand and new market.

I hope that I succeeded in igniting a flame in you to expand the frontier of your imagination. Focusing on your current customer segments is not a recipe for growth. The real growth comes from the untapped market. From creating new demand and reaching non-customers.

By applying some of the concepts form the platform universe, you can expand the horizon and possibility of your current reality. Now imagine what might happen, if you fully embrace the Platform business model.

See you soon with new tools…

You are most welcome to connect via https://twitter.com/KhalidiAlmadani or https://medium.com/@KhalidiAlmadani