Conference Presentation, Other
MI Forum: Clutch: Why Some People Excel Under Pressure and Others Don't
Milken InstitutePaul Sullivan, Skip Reimer, Cyrus Hekmat, Eric Schmidt, William Rickles, Jamie Dimon
- The next Milken Institute forum is scheduled for Monday, November 15th, featuring Zachary Karabell and Aaron Kramer discussing their new book Sustainable Excellence, with book author Paul Sullivan available for signings immediately following the program.
- Two exclusive breakfast events for Milken & Suess associates are planned for next month, specifically on Wednesday the 17th with David Bonderman and on the following day with Bas Swan Jen.
- Paul Sullivan predicts that while most companies struggle to adapt quickly to changing situations, citing the Cadillac Cimarron failure as evidence, he argues that adaptability is a critical trait for clutch performance under pressure.
- Sullivan outlines five key traits for high performers under pressure: focus, discipline, adaptability, being present, and managing the push and pull of fear and desire, while identifying lack of responsibility, overconfidence, and overthinking as primary causes of choking.
- The presentation will include a quiz regarding "clutch" sporting moments, distinguishing between lucky, non-repeatable events (Havlicek, Gibson) and strategic, repeatable performances (Eli Manning).
- Sullivan's research, conducted during 2007 and 2008, identifies that smart and capable leaders often fail under pressure due to a lack of focus on the goal rather than getting bogged down in details, a lesson drawn from figures like David Boies.
- Specific examples of pressure management include Tiger Woods, who achieved clutch status through extensive repetition ("has been there more often than anybody else") but later displayed choking traits such as overconfidence and failure to take responsibility, and Tony Alvarez, who eventually achieved a perfect bowling game after two prior failures under observation.
- The speaker notes a biological component to clutch performance, citing Charles Morgan's research that a small group of individuals are biologically predisposed to thrive under pressure, such as special forces soldiers and surgeons, though deliberate practice remains a viable path for the majority.
- Business examples include Jamie Dimon, who cultivated clutch capability at age 30 through rigorous discipline and attention to detail, such as scrutinizing expense lines, which prepared him for the 2008 financial crisis.
- Sullivan warns against unchecked desire in entrepreneurship, using Angelo Mozilo as a negative example of a lack of fear, while highlighting Bernie Marcus's "Running Scared" strategy as a model for maintaining awareness of stakes.
- The outlook suggests that while some politicians perform well under campaign pressure, maintaining clutch performance in office is significantly harder and often an individual rather than collective struggle.
- Material plans include two practical chapters in the book dedicated to applying clutch principles to money and hobbies, aimed at helping average people improve their daily performance rather than becoming exceptional outliers.
- Personal anecdotes from the speaker include overcoming a childhood tendency to choke in golf tournaments, resulting in a current handicap of approximately 11, and the birth of his daughter two months prior to submitting the book manuscript.