Nico Rosberg: Preparation, focus and balance are key to strong decision-making
For ex-Formula One (F1) world champion Nico Rosberg, the thrill-seeking environment of motor sports taught him a lot of valuable lessons — ones that can also be applied to his current role as a tech investor.
"The Formula One world really is the most extreme form of needing to make quick decisions under pressure," said Rosberg, the 2016 Formula One world champion, at the Web Summit conference in Lisbon, explaining how all these transferable skills he's learned are very useful in the business arena.
"As a Formula One driver, you're pushing the boundaries all the time."
Speaking Tuesday during a conversation about "decision making in fast paced environments," the retired driver-turned-investor explained to CNBC's Karen Tso how vital an ingredient preparation was when making decisions on the spot.
"The most important thing to help you make that right decision under pressure is all the preparation that goes into it beforehand. It's a discipline going into it, the details, its marginal gains also. Every little thing counts. Eventually, if you put it all together, you'll make more and more right decisions."
In late 2016, Rosberg announced that he would retire just days after being crowned world champion. Rosberg said he didn't regret choosing to step down when he did, dubbing it the "best decision," as one of his main targets as a sportsman was to secure the driver's championship title.
Since then, Rosberg has turned his attention to the tech space, having invested in Formula E, SpaceX, Lyft and What3Words.
"What I also learned (in quick decision-making) was the importance of focus. We see this a lot in the business world: the big achievers, they have this ability to focus and get rid of all the distractions that are in our lives, left, right and center — with social media, with this, with that. Get rid of it all."
"Focus really, really precisely on what you want to achieve and dedicate everything you have to that," the investor said, adding that it's also key to remember that a better life means better performance.
"At the same time as focusing, make sure you keep that balance — and keep that balance with private life, friends, relaxation, because if you have that balance it will help you perform much better. It will help you make better decisions on a regular basis."
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