HBR On Leadership

F1 Legend Toto Wolff on Leading Through Big Wins — and Crushing Losses

May 31, 2023

Toto Wolff, the fearless team principal and CEO of the Mercedes F1 racing team, shares his journey through triumph and defeat in high-stakes sports. He discusses how to motivate a team during tough times and the crucial difference between directing and leading. Wolff offers insights on coping with losses, emphasizing the psychological impact and the need for self-reflection. He also explores the importance of learning from mistakes and trusting his team's expertise to bounce back stronger after setbacks.

13:10

Episode guests

Toto Wolff

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Episode notes

Intro

2min

Coping with Losses and Reassessing Expectations in High-Stakes Sports

4min

Navigating Leadership Through Adversity and Self-Reflection

7min

Managing a team in good times is one skill set. But how do you motivate people when things aren't going well? Toto Wolff is the team principle and CEO of the Mercedes team, one of the most successful teams in the history of Formula One racing. But when the team’s eight-year winning streak unexpectedly ended, Wolff had to adjust his leadership style to get them back on track. He tells Harvard Business School professor Anita Elberse about the difference between directing and leading, and how to help a struggling team learn from mistakes and move forward.

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