Business Lessons you must Learn from Sports Managers
In one of Strive Masiyiwa‘s message on building and managing businesses, he made some points on how entrepreneurs and startups can emulate sports managers in the day to day running of their business.
It has been my honour to see The Total Entrepreneurs Fans grow their business from business lessons I share. In that effect, I will be sharing with you all the points Strive Masiyiwa listed on how big elite sports managers do their job and how entrepreneurs can incorporate it into their business for maximum benefit.
Hear the wise man…
“Believe it or not; I have great admiration for sports managers, particularly those who manage elite clubs; whether it is soccer, American football, basketball, or just about any sport played at the highest level.
Let me share with you some of my (BUSINESS) reasons:
1. Fans are important:
If you lose the support of the fans, you are out of a job!
(It is the same with customers in a business.)
Top managers compete, according to the rules of the game. If you play soccer, you do not expect to win, using your hands, or try to cut a deal with the football authorities that apply only to your team….that is called cheating!
(Using political influence to impede your competitors, or make life difficult for them, is not business.)
3. Respect your competitors:
The sport is at its most exciting when the best teams are pitted against each other. The manager enjoys the competition and the players enjoy the competition. If you hate competition, or believe it should be impeded to give you an advantage, then you are not a sportsman.
(A good business person, enjoys competition, and shows respect towards competitors. Never hate or disdain those with whom you compete.)
4. Strategy and tactics:
The best managers are known for their brilliance in both strategy and tactics. A good manager knows that he can beat a superior team, using effective strategy, and tactics… This is business 2.0!
5. Organizational efficiency:
Good managers understand the importance of an effective organization of their team. A game can be won or lost, if your team has the wrong shape, or field formation; even if you have the best players. The players must play as a unit, and play for each other, on the pitch.
(Remember my posts on how to build an effective organization.)
6. Effective use of information:
Good managers have a lot of information on their own team, and also on the competitors. Today’s manager uses statistical data, showing them the performance of each player on the field.
(A good manager uses proper data, and not here-say, about what is going on, in their business, their competitor, and the market…. Be scientific and professional when assessing performance of your business.)
7. Last season is last season:
Nothing more to add here!
(Stop living on past glory!!!)
8. You must continuously invest in players, and also in coaching.
(Your business is only as good as your ability to attract stars onto your team…Every season…So who was the last star you recruited?
….What was the last training program you did?)
9. Experience is very important, but don’t make a virtue of it. You cannot have a 50 year old on the pitch!
10. Performance on the pitch is all that matters.
(There is no place for philosophers in the dressing room, or the boardroom.)
A manager who does not understand how money is made in football, will destroy the team.
“This too applies in business”.
A good manager always has a program to recruit and develop young talent. Some of the top clubs in the world recruit their stars, when they are as young as 9 years old.
The best managers are also great coaches.
14. Handling a loss:
To win is important, but also to handle a defeat, and pick up your team after a defeat, is very important. Do it quickly, and prepare for the next game.
15.Discipline: nothing to add here!
Once you are on the pitch, you do not want your players trying to do their own thing!(Even in business.)
16. Innovate or die:
Nothing to add.
17. There are no prizes for second place…. Particularly in business!
18. Don’t glorify mediocrity:
When you lose a game you have lost.
(If your business is not doing well, its not doing well. Don’t pretend it is, because the only person you are fooling is yourself.)
19. Passion, passion, passion….
20. Failure is called relegation:
(In business we call it bankruptcy.)
21. Communicate effectively:
On and off the pitch, continuously.
(This too applies to business.)
How like business, is the beautiful game!
Let’s play the beautiful game, this year, 2015.”
I hope you learnt new things from this post?
We love reading your comments, so lets share our thoughts on running business as sports managers.
Thank you for reading.