James King and Greg Newman offer advice from the world of trading.
It is a question the Leaders Performance Institute poses to James King shortly after he appeared onstage at the 2022 Leaders Sport Performance Summit in London.
“I think sport needs to maintain a very specific focus on what it takes to win,” says King, an advisor who has counselled government agencies, specialist military units and provides guidance to owners, managers and athletes within elite sport. In 2021, he released a book called Accelerating Excellence: The Principles that Drive Elite Performance.
“One of the popular themes over the past few years has almost been this obsession with culture,” he continues. “And I think in the popular media there’s been some incredible TED talks, great books around the topic, and I think it’s very easy to chase a subject because it’s so interesting and then look to apply it rather than focus very specifically in terms of your specific organisation in sport.
“Where are we leaking progress? Where are we breaking down? Is our culture a problem? If it is then fine, go out and read. But instead of reading and trying to copy-paste from others, really try to spend that time doing the thinking yourself. ‘Where are we leaking progress, what can we do about that?’ and intervening very specifically in that area.”
The concept of ‘leaking progress’ is one that King returns to time and again and one he referenced onstage alongside Greg Newman, the CEO of the Onyx Capital Group, which is a renowned trading firm. Both have joined the Leaders Performance Institute for a further chat. Here are some edited excerpts.
Greg, what is the best way to test your strategies around individual and collective performance?
Greg Newman: It 100% comes down to experimentation. You don’t know if things are going to be successful and you need to have that scientific approach of first hypothesising what it is you think is actually going to happen and being quite specific about that, and then you’re testing it with historical data, and then it goes to actually applying it from a non-risk perspective. So we’ll put on a strategy in live terms but it’s not actually going to make or lose money. So that’s the way you start; and then you refine that and make sure you get the learnings, refine that strategy, and then ultimately go live with it once you’re ready. When you go live, it’s also [implemented in] stages as well, [through] progressive exposure.
What steps do you advise when it’s clear that the strategy isn’t working?
GN: I think the main thing for us is to be clear about what we can control and what we can’t control. If we look at a given strategy, a given area, a given team, and they’re applying the process that we know well, we know we succeed in other areas, we know what we want from people, the skills we want them to have and demonstrate and the processes we want. So they’re doing all of those things and it’s not working, then it’s more likely going to be the market conditions or something external. It’s looking for that answer, but you have to have that ruthless approach when something isn’t working objectively. Is it better just to move on, cut your losses, and pivot somewhere else? Again, it comes down to experimentation. If it’s not working, it’s not too big of a deal, you just keep moving forward and nothing lasts, right? It’s constant adaption and evolution.
James, how do the principles of your book Accelerating Excellence most readily apply to sport?
James King: When you define ‘sport’, one of the defining elements is competition. Therefore, the objective is kind of winning or iterating towards winning more than you might lose. The foundational principles that I discuss in the book are designed with that in mind completely. They all derive from the academic study of outliers, whether that’s an individual or an organisation. So it’s breaking down and examining the causal mechanisms that are truly predictive of superior performance across time. So I think the application to sport couldn’t be neater and tidier in that respect.
In your view, what are the traits of serial winners?
JK: There’s one trait that all elite performers have in common more than anything else and that’s this concept of self-concordance. So there’s three defining themes in that. The first one is that everyone that I’ve seen that excels, and also examining the literature, is very clear that those individuals perform roles where their strengths align very much with the roles they perform, whether that’s a style of play, whether that’s the domain they’re in, full stop. The second component would be their sincere interests. Some might describe it as ‘passion’ but I prefer the word ‘interest’; to me, passion’s a short-term temporary high, whereas an interest is this almost semi-permanent attraction or instinctive attraction to a certain activity or area. And I think that everyone I’ve seen excel has that almost obsession with the craft they’re competing in. Then, finally, it would be this concept of the goals they’ve pursued in sport have aligned with their values and they’ve probably had maybe a little bit of luck here but have been exposed to demonstrating their strengths and interests for an organisation that sincerely aligns with their own values, again whether that links to the style of play or the behaviours that are acceptable in that environment or what that club and organisation stands for. And I think you get this sweet spot when people are able to pursue a role that optimises all their natural strengths in that area where they are sincerely obsessed and for an organisation where their values just align and they’re just so in sync with what that organisation wants to achieve.
If you could both give one piece of advice to coaches here today, what would it be?
GN: Like I was saying onstage, it’s absolutely following a process. I know that’s become embedded in sport now, that’s like the way things are going; really believing in processes even when it comes to wellbeing, people around you and getting the best out them. So your vision, setting that north star, setting that constant improvement. All these things can seem on the face of it very vague and maybe even wishy-washy, but there are processes out there that you can apply. [Being] rigorous and really concentrating on that process, whatever it might be, and sticking to it. If something it’s going to be about you, and that’s not really definable, that’s not really scalable; [you need] a process that you can apply and improve, teach other people, and scale that way.
JK: The one piece of advice I’d give to coaches is to make sure you’re very clear on what it takes to win in the craft you’re coaching in, then, secondly, understand very specifically where the athlete or the performer you’re coaching is in relation to that, where they’re – I use the term again – leaking progress, and then, thirdly, make sure you understand who they are as an individual and how they are optimised. What are their strengths technically? What are their strengths psychologically? What’s their interest on the pitch or in the boardroom, if you’re working outside of sport. Then what’s most important to them? And make sure you create an environment that optimises those things. The question I get commonly asked is: ‘how do you optimise this person’s performance or that person’s performance?’ I think the real question is how do you optimise the conditions so that that person optimises their own performance? And that’s where I think coaches should be focusing because if you understand those things so well, the solutions in terms of what to coach and how to coach just fall in your lap.
The second day featured Google, the Australian Institute of Sport, Rugby Australia, Melbourne Symphony Orchestra and Wharton People Analytics discussing team cohesion and frameworks of success and more.
In partnership with

Across the course of two days, we sought to break down this theme by watching a live environment in practice, exploring frameworks and perspectives on how to recruit talent for your environment, the power of teaming and how it drives collaboration and teamwork, and insights from different industries on how to design, shape and evolve environments.
Here are the key takeaways from the second day.
(Day 1 takeaways here.)
Session 1: The Cohesion of Teams – What Are The Secrets of Effective Collaboration?
Speaker: Benjamin Northey, Principal Conductor in Residence, Melbourne Symphony Orchestra
Session 2: Change & Transition – How to Lead When There is a Shift in Behaviours
Speaker: Reb Rebele, Senior Research Fellow, The Wharton People Analytics initiative
Bringing the Framework to Life
Session 3: Fostering Googleyness – How to Recruit & Retain for a World Class Culture
Speaker: Tova Angsuwat, Recruiting Lead, Google
Keys to defining culture:
Tips for recruiting and retaining top talent
Session 4: Inclusive Environments – Can High Performance Sport Create a Culture of Belonging?
Speaker: Matti Clements, Acting Director, Australian Institute of Sport
Takeaways from the development of strategy: belonging
Vision & core values:
HP 2032 and belonging levers:
Session 5: The Application of Knowledge – Making Learning a Successful Process
Speaker: Eddie Jones, Head Coach, Rugby Australia
Further reading:
Check out the takeaways from the first day here.
At the 2022 Leaders Sport Performance Summit at London’s Twickenham Stadium, we heard from Lorraine and Rob who have been at the forefront of two new sports, and how they preparing for Olympics whilst staying true to the culture of their sports.
Renowned Hollywood film writer Meg LeFauve discusses the importance of protagonists, an ability to learn from mistakes, and a sense of the team above the individual.
A hero must be active not reactive
“We all subconsciously believe that the world happens to us rather than we shape our world”, Meg LeFauve, co-writer of Pixar’s Inside Out, explained at our Sport Performance Summit in LA back in 2016. She built on this to say that the hero must write their own story. Heroes that we truly connect with, LeFauve stated, “have to want something deeply, they have to have a spark of something – determination, courage or grit which drives them on.” However, she also explained that they always have a flaw and a mask. The flaw is not always a negative, but actually through the story the hero comes to understand their flaw and transforms it into a strength. We all have multiple sides to our identities and our mask is what we present to the world, however, underneath that is our vulnerability, and through storytelling we can uncover this mask and be comfortable with our vulnerabilities.
Obstacles are a way of cracking open a belief system
LeFauve highlighted that as children we all create our own belief systems about how we think the world works and who we think we are within that world. These belief systems are designed to keep us safe. However, “often the very belief system that saves you as a child, will kill you as an adult”. LeFauve added that we often out grow these belief systems or they no longer service us. This is where obstacles come in. “We use obstacles to crack open a belief system” LeFauve said, and explained that they’re used to check-in where you are, what you know or don’t know and what you are good at or not good at. “We transform by making mistakes and by failing”. The brain learns and changes by experience and that is why it is so important to be open to failing. As LeFauve said so eloquently, “failure is the tool of transformation.”
You have to become comfortable with vulnerability if you want deep change
Within storytelling, LeFauve explained that “the antagonist is someone who helps the protagonist to transform.” Within sport, this could manifest as an injury, a setback or a coach challenging the athlete, to help them overcome obstacles and “push through the vulnerability to get through it and grow,” she said. It often occurs when the hero is at their lowest point, stripped back, and it is a death moment. “If you want deep change, there has to be a death moment, it is the death of their old belief, their old self, who they thought they were,” she continued. It is all about thinking that this experience is here for a reason, and understanding what it is helping you to learn. LeFauve talks about shifting the context to you being at the centre, you are choosing to be here and to turn up every day. Any day you can choose not to be here, so what are you here for?
Create an environment where there is no judgement when you fail
LeFauve explained that within storytelling, there is no judgement when they give negative feedback or mistakes are made, they always think “what did that give us? What did you discover in doing that?” This then takes the judgement out and most importantly the pressure of identity out of it. It is not a reflection on your intelligence or creativity, it is not about you. “It is about the movie and giving to the process because everyone is invested in the movie” she said. This is so important within high performance sport too, and ultimately you want everyone to be fighting for the team, not for themselves. It is about the team, not about you as an individual, and everyone doing their best for the team will inevitably be the best route towards success.
Researcher Sam Robertson hopes you mention your decision making in your answer and explains how humans and machines can work together to find better insights and make better decisions.
Understanding ‘bounded rationality’
Sports practitioners are measuring more than ever but it is still not a complete picture. “There’s a number of different reasons we don’t measure something we know is important,” Sam Robertson, a sports researcher, told the 2018 Leaders Sport Performance Summit in London. It could be a question of finance, access or time. Whatever the reason, he continued, “this is a problem in sport because we start to see a disproportionate focus on information that’s available.” This leads to what political scientist Herbert A Simon termed ‘bounded rationality’. Robertson, who has worked with organisations including the NBA’s San Antonio Spurs, Fifa and the AFL’s Western Bulldogs, produced a slide containing a quote from Christian Lebiere and John R. Anderson that built on Simon’s point. It read: ‘The rationality of a decision should be considered in the context of the environmental and cognitive constraints acting upon the decision-maker’. Therefore, as Robertson said: “having a basic understanding of how bounded rationality is applied in this environment allows us to transform the way we display empathy and communicate with our staff and athletes”.
The perfect model is not out there
When evaluating information, Robertson argued that the law of diminishing returns, so visible in economic theory, applies to both humans and machines in performance settings. “Humans and machines do this in very similar ways, which is sometimes lost in the ‘humans versus machines’ debate,” he said. He made the point that humans cannot process large amounts of information concurrently, whether as a consequence of ecological adaptation or cognitive limitation (the jury is still out). Similarly, he explained that machine models are designed to be generalisable to new situations, that they are designed to express concepts as accurately and with as few variables as possible. As mentioned above, there are things we can and cannot measure. Robertson introduced a third layer. “There is information that we were never going to consider – we don’t know what we don’t know,” he added. “What information matters right now to the evaluation of a player that we’ve not even thought about?” It is important to be able to call on different machine learning algorithms in an applied environment. “We want [the model] that works well, but uptake can be based on a number of factors.”
Choosing the right model
What are some of those factors? “When we evaluate something like this, the decision of the human or the machine or the recommendation, it’s really important [to consider] how that recommendation performs,” said Robertson. He cited accuracy, how the model improves existing practice and by how much. Human factors are important too. It needs to be feasible in your environment, be cheap to run and be understood quickly if it is to generate usable insight. “The term I use to describe this area is ‘operational compatibility’. Is the way we’ve developed the recommendation or the visual report compatible with the way that we make decisions in our particular organisation?” It must also be able to highlight uncertainty and facilitate feedback that enables a choice to be made. “Can we look at the same problem in four different ways? Having that basic understanding of machine learning, even without being an expert in it, can help us look at the problem differently.”
In this Member Case Study Virtual Roundtable, Dan Jackson of the Adelaide Football Club discusses his work helping the team to define, assess and change team culture.
Recommended reading
How the Brooklyn Nets Put their People at the Heart of their Culture
Belonging: The Ancient Code of Togetherness
Framing the Topic
In this Member Case Study format of our Virtual Roundtables, Dan Jackson, the Head of Leadership and Culture Development at the AFL’s Adelaide Football Club, spoke about the relationship between environmental profiling and evolving team culture. Dan is a former professional AFL player and he explained how his own experiences of the high performance environment as a player has influenced his work to evolve team culture with the Crows.
Dan framed the session by breaking it down into three parts:
Assessing culture
What is ‘culture’?
“Culture is both a dynamic phenomenon that surrounds us at all times, being constantly enacted and created by our interactions with others and shaped by leadership behaviour, and a set of structures, routines, rules and norms that guide and constrain behaviour.” (E. Schein, 2004)
Jackson’s definition: “Culture is a reflection of how a consistent group of people behave in a particular environment over time.”
In assessing the culture of a group, there are three cultural pillars:
Changing culture
Unfreeze
Cognitive restructure
Evolve
Cultural trends
Members’ thoughts on current trends:

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Four considerations from Leaders Performance Institute members on the topic of evaluating organisational culture.
Research by Alex Hill and the Centre for High Performance into how successful organisations can outperform their peers for more than 100 years, highlights a number of common characteristics between industry-leading organisations such as the New Zealand All Blacks, NASA, the Royal College of Art, and the Royal Shakespeare Company. If you are interested in hearing from two leaders of organisations who were part of this study – Eton College and the Royal College of Art – you can view this session from the 2018 Leaders Sport Performance Summit in London.
Besides the number of characteristics that these organisations have, simply put, they all take culture incredibly seriously. They work at it. They constantly review. They are always evolving, but with a number of cornerstones that remain foundations of how they operate.
As part of an intriguing set of conversations between Leaders Performance Institute members, the group discussed some of their thoughts around how they think about cultural evaluation.
How often are you proactively measuring the strength of your culture? A number of organisations look to review and evaluate on an annual basis, but should they be more frequent? Some participants on the call suggest a review every three months is a powerful way of taking the pulse of the environment. On this theme, be mindful of the tension between what the data suggest, versus the awareness and insight of the culture that occurs through sitting, listening and talking to people. It can be easy to jump to the measurable part of the evaluation and determine the health of the culture on that – be aware of what the data doesn’t show us.
Language is a powerful notion, particularly when there is clear alignment and consistency around how your people communicate the mission, values and behaviours. We can engage in measurements to evaluate culture, but you can also see it, feel it and, most importantly, hear it. Are your athletes and staff using the language that aligns to the culture we want to live by? If not, it suggests there is some work to be done to create wider organisational alignment.
Change is one thing in life that is guaranteed, none more so than in high performance sport where we experience fast-paced and ever-evolving environments. As human beings, we are wired to not like change. A question to consider when analysing your culture is ‘how open are we to change?’ because it will inevitably come. It can be an integral measure in understanding how robust the culture is. To evolve and improve, we need that growth mindset and willingness to be adaptable within the environment. Have you ever questioned your peers and asked them of your environment, ‘what do you think we are losing or would lose if we were to engage in change?’ This is a simple but effective way of highlighting what is working in the environment – try to keep these components and grow in other areas.
Every environment experienced disruption and the emergence of pain points. Are you identifying and evaluating what these are, as they will have a direct impact on your culture? As society evolves, it’s important to be on the pulse of what this might mean for your specific environment and those operating within that. Mapping the pain points provides more opportunity to review and reflect as to whether you are providing that level of support and shaping the environment to optimise the performance of your people. Consider garnering feedback through the use of focus groups, and perhaps seek feedback from those in the organisation who you don’t hear from as much.
11 Jul 2022
ArticlesExploring some of the psycho-social aspects of high performance environments as identified by research.
What the research is telling us about high performance environments
David Fletcher, who is the Senior Lecturer in Performance Psychology and Management at Loughborough University and a Leaders Performance Advisor, shared a high performance model with an audience at Leaders Meet: High Performance Environments in 2021. In making his presentation, Fletcher drew on varies studies, including the 2009 white paper by Graham Jones, Mark Gittens and Lew Hardy titled ‘Creating an environment where high performance is inevitable and sustainable: The high performance environment model’. That paper formed the basis of Fletcher’s onstage exploration of leadership, performance enablers, and people within a high performance model.
He said: “Although I don’t think it provides the definitive answer, what I do think it does is provide a nice starting point.”
Three important aspects of effective high performing leadership
“What does effective high performing leadership look like within a high performance environment?” asked Fletcher. Jones, Gittens and Hardy identified three main considerations for leaders:
“They argued that it wasn’t enough to be good in two of these three areas,” said Fletcher. “In fact, it could be catastrophic if you’re only good at vision and challenge but no support. It’s going to be a relentless environment where burnout is going to prevail.” He also mentions the important distinction between what coaches perceive they give their athletes and the message the athlete receives and perceives. “There needs to be checks and balances in place to let leaders be aware of how they’re providing support across the high performance environment.”
Developmental v motivational feedback
Part of a leader’s role, as Fletcher said, is to provide environmental enablers that offer the support for people to operate in a high performance environment. The research points to the importance of information [feedback, clarity, support], instruments [tools, frameworks], and incentives [meet the athlete’s need for competency, autonomy and relatedness].
Fletcher honed in on the difference between developmental and motivational feedback. “Developmental feedback is the type of feedback that says ‘you are here. In order for us to be here, this is what needs to happen’,” he said. “But the other type of feedback you get under social support is motivational feedback; and motivational feedback is slightly different. ‘This is where you were, this is where you now are. Look how far you’ve come over the last six months.’ The best leaders are able to balance the motivational and developmental support appropriately for different individuals within the performance environment. It’s where the science shifts towards the art of coaching and high performance leadership.”
Attitudes, behaviours and capability
The research discussed by Fletcher also highlighted the traits needed by those operating in ever less hierarchical high performance environments. It identified three buckets. Firstly, the question of attitudes, from trust in one’s leader to organisational commitment via collective efficacy and job satisfaction. Secondly, Fletcher delved into the necessary behaviours, including being helpful, engaging enthusiastically and volunteering when possible. The third bucket was capability, specifically the ability of people to support talent development, provide emotional intelligence and develop mental toughness.
‘High performance cultures don’t just show up’
Rachel, how common is a dispersed/distributed leadership model in high performance sport these days?
We are increasingly seeing organisations and teams embracing more of a distributed leadership approach, even if they don’t identify with that model by name. We are seeing teams collaborate on things like values, and more importantly how these values are ‘lived into’ in an individual’s role. For example, ‘courage’, ‘integrity’ or ‘excellence’ will be expressed differently by front office staff, compared with board members, or coaches, or athletes or support staff. This sort of approach empowers each individual of a team, irrespective of their role, to take ownership of creating a high performance environment in their area and as it feeds into the collective organisation; rather than defaulting to expecting that it is someone else’s job, or a subconscious belief that a high performance culture just shows up. And we are seeing more individuals within an organisation understanding the importance of modelling high performance culture, leading by example and holding others accountable to agreed standards by having courage to have difficult conversations.
What tips do you have for leaders seeking to make a distributed model work? Any pitfalls to avoid?
The three points identified by Jones, Gittens and Hardy in the article above still hold, and as David wisely points out, it’s essential to include all three. Regular open and transparent communication ensures the model constantly evolves, rather than being a discussion at the beginning of a season that fades into the background once the daily grind kicks in.
Developing a high performance environment is everyone’s responsibility, so leading and interacting with others in a way they understand their individual and collective value to the shared goal is essential for ongoing buy-in. Perhaps this model evolves more organically in team-based sports, where many different roles interact daily under the same roof. Olympic and individual sports where people might be spread around the country require more intentional focus on implementing these steps for the model to work, but the effort is worth it.
Avoiding pitfalls revolve around ensuring as a leader that you are living by example, not paying lip service to it or just telling others to do so. It’s not uncommon in organisations with a poor culture to hear coaches, boards or support staff harshly criticising athletes for not having an excellence mindset, integrity or willingness to do the one percenters; yet not living the same in their role. That’s about the fastest way to undermine respect and a high performance culture! And remembering that people will follow the strongest energy in the room (or team, or on the field), which is great when that energy aligns with high performance traits; but destructive if the strongest, most influential energy is toxic. So it is important to call out toxic personalities or actions quickly.
Director of People Analytics Abeer Dubey outlines why psychological safety is a requisite of all effective teams.
A Human Performance article brought to you by our Main Partners

Quick recap: what is psychological safety?
Amy Edmondson, an organisational behavioural scientist, coined the term ‘team psychological safety’. She defined it as: “a shared belief held by members of a team that the team is safe for interpersonal risk taking.” When Google announced the results of its Project Aristotle, which sought to understand the characteristics of effective teams. Psychological safety was identified as the biggest factor. The others were ‘dependability’, ‘clarity,’ ‘impact’ and ‘meaning’. But psychological safety stood out.
“This is a little bit of a clinical-sounding term but this is the best one we have to describe this sense of ability to take interpersonal risks in a work setting,” said Abeer Dubey, Google’s Director of People Analytics, who led Project Aristotle. Dubey was speaking to an audience of Leaders Performance Institute members at 2021’s Virtual Leaders Meet: Total High Performance.
He continued: “We have all been in a situation where somebody senior in an organisation or the hierarchy suggested something and we may or may not agree with that; or some acronym has been thrown out there in a team meeting. Are we in a culture where we feel comfortable raising our hands either in terms of pushing back on a decision made by a senior leader or asking a question that may seem like a stupid question in the context of the meeting?
What does that look like in practice?
Dubey painted a picture of psychological safety at Google. “Teams that were good at doing this had that safe environment where people took small interpersonal risks on a day to day basis,” he said. “They will jump or chime in. This wasn’t just something about feeling good. We could actually see a direct impact on our revenue performance, especially in our sales team.” Teams that feel safe are more effective. “Through this comes this process of learning quickly and this translates into a direct impact,” he added.
How can you help your teams to get better?
Google instigated its gTeams programme, which was designed to help the organisation improve across the key characteristics identified in effective teams by Project Aristotle. Of gTeams, Dubey said: “It’s very difficult to even bring up a topic like psychological safety unless you have a term for it. If there’s no formal construct for that then these things can easily go unnoticed, so I think an explicit practice of going through this type of review is something that can help thousands of companies.”
From failure to problem solving
For astute leaders, there is the potential for failures to become problem-solving exercises for teams to coalesce around. Dubey cites the ‘pre-mortems’ carried out by the Google X innovation lab under its CEO Astro Teller. “He got the senior members of his team and he said ‘OK, imagine if we had actually failed in a project,’” said Dubey. “If you think about today and what’s working, people always get in defensive mode. He said: ‘OK, think about it yourself. If we had failed, what could we have done better?’ And it completely changed the dynamic where the thing that could have been defensive became like a problem-solving exercise and everyone came together. He calls this exercise a ‘pre-mortem’, which is where you imagine that you have already failed and this is what we could have done about it. That’s the kind of thing we ask people to think about. Small things in a day to day setting that can have a huge impact.”
Is there truly room for psychological safety in sport?
“What I think will be very interesting looking at the next five years, is the whole wellbeing and welfare movement in elite sport because that’s definitely gaining momentum and traction, with good reason. How do we sit that alongside the demands for high performance and wanting to win? That’s not going to go away either. The best athletes and the best coaches are going to have a real need to win.
“We’ve seen in the past, whether it be Lance Armstrong or Michael Jordan, this burning desire to succeed at all costs, spills over. There’s a real recognition in elite sport that that does happen and has happened.
“The question now is how can we manage that will to win at all costs? I’m not sure you can do that in people who really want to win; like the people who are training for an Olympic gold medal. They’re totally single-minded. It’s not necessarily about taking the edge off that, it’s about juggling that to a point where it’s not winning at all costs – it’s winning hopefully without other costs.
“That’s where I hope psychological safety will play a role within that, where it becomes a more sophisticated culture and climate where we can strive to excel, we can strive to win, but not at the cost of cheating, bullying, abuse, fear of failure.
“It’s very easy for me to say it but it’s a lot harder in the cutthroat nature of elite sport. When you start losing people’s jobs and positions are on the line; that’s when this really gets put to the test.”