🌟 Remarkable Monday, May 27

First, let me honor and mourn the United States military personnel who paid the ultimate price while serving in the nation’s Armed Forces. Thank you for your service.

What New Balance and Hyatt can teach you about the biggest and best versions of yourself

Chris Davis, New Balance's Chief Marketing Officer, shared an insightful thought with his team. He explained that New Balance's goal wasn’t to become the biggest, but to be the best version of itself as it seeks to serve the marketplace.

This idea of separating "big" from "best" resonated with me as often conflate the two. It’s easy to use “more” as the measurement when looking for a clear winner. However, in life, as in business, there is more nuance.

That’s why we have sayings like, “All money ain’t good money” and “Everything that glitters ain’t gold.”

Here’s a question to ponder: What is the measurement for you when you’re at your best? Being the biggest or the gold medalist in your category might not tell you everything you need to know.

Now take a look at Hyatt

The Wall Street Journal released a fascinating series entitled “The Economics Of,” which explores how the world's top companies make money. In this explainer series, they uncovered the surprising story behind Hyatt’s business model.

It might surprise you to learn that Marriott and Hilton each have five times more properties than Hyatt. However, with 70% of its rooms classified as luxury and upper upscale, Hyatt boasts the highest average daily rate in the industry.

From a leadership perspective, focusing on being the best rather than the biggest means prioritizing excellence and innovation over sheer scale.

Leaders who adopt this mindset encourage their teams to strive for high standards, fostering a culture of quality that can lead to sustainable success and a loyal customer base. It’s about creating a brand that stands out for its exceptional offerings rather than its size.

This principle resonates deeply on a personal level as well. In our careers and personal endeavors, it's easy to measure success by numbers—be it salary, social media followers, or other quantitative metrics.

However, true fulfillment often comes from the quality of our work and relationships. Striving to be the best version of ourselves means honing our skills, nurturing meaningful connections, and making a positive impact, regardless of how "big" our achievements may appear.

What that means for you

Hyatt’s strategy of maintaining a smaller, high-quality portfolio demonstrates that success isn't always about having the most. It’s about being the best at what you do, providing unmatched experiences, and consistently delivering value.

If there is one thing I believe that will make today remarkable is for you, my friend, to focus on excellence, integrity, and authenticity in your pursuits.

Separating "big" from "best" allows us to redefine success in a more meaningful way. By embracing this mindset, we can achieve greatness that resonates far beyond numbers and scale.

Calls to action

1. Evaluate your priorities: Take a moment to assess your current goals and priorities. Are you chasing quantity over quality? Whether it's in your professional work, personal projects, or relationships, identify areas where you can shift your focus from being the biggest to being the best. Set specific, quality-oriented goals that emphasize excellence and value.

2. Commit to continuous improvement: Excellence is a journey, not a destination. Commit to lifelong learning and continuous improvement. Seek feedback, invest in your personal and professional development, and stay curious. Remember, being the best means constantly evolving and striving for higher standards in everything you do.

3. Cultivate meaningful connections: Surround yourself with individuals who share your commitment to quality and excellence. Build relationships with mentors, peers, and collaborators who inspire and challenge you to grow. Engage in communities and networks that prioritize meaningful interactions over superficial connections, enriching your personal and professional life.

If you would like to learn more about the Hyatt business model because you’re a nerd like me, check out the video below:

If you are reading this far…

I hope this message finds you well. I’m sharing from my heart in hopes that you will be inspired to unearth and live out your God-given purpose. Hopefully, something I said resonated. I would love to hear from you if so. Please feel free to reach out to me on social media. FYI: I’m mostly active on Instagram these days. If you were forwarded this message, you can subscribe here to receive thoughts like this directly in your inbox. And don’t forget to check out the latest episode of my podcast, ConvoRoom with Mark Allen Patterson.

See you next week,