The Parallels of Business and Sports

In an article that was published in Forbes Magazine by Ryan Westwood on July 8, 2015, a comparison was made between Sports and Business.  Four of the main points were as follows:  “1) Appoint a Team Captain, 2) Smart Passing Keeps the Ball Moving Forward, 3) If A Play Stops Working, Smart Players Change It, and 4) Well matched positions make great players”.  This morning as I was attending a business networking meeting, the feature presentation also discussed a parallel between business and sports.  Some additional comments included “Start With a Purpose”, “Run a good Huddle”, “Don’t Coast on Last Year’s Successes”, “Develop a Mentoring Culture” and “Education through Questions”. 

 

I thought that these were great items to chat about in our weekly article.  When your employees are on the same page as you are, and everyone is working towards a common goal or purpose, there isn’t confusion about what should be done or where everyone is headed.  It’s important to include your employees in the conversation of your long-term goals so they can also have purpose and help you achieve your own goals. I also thought the line about “Don’t Coast on Last Year’s Successes” was worth mentioning as well.  While it is really important to focus on the future and obtaining new clients, it is equally as important to focus on the clients we have.  Retention is very important because it takes less effort to keep a happy customer than it is to go out, recruit, market, on-board a brand new client.  So we want to keep our current clients happy and if there is something we can do to improve our service, we should definitely address it. 

  

 

Tommy Lasorda once said, “There are 3 types of baseball players:  Those who make it happen; Those who watch it happen; and those who wonder what happens.”  In running a business, I think it is safe to say that we all want to be in the group who “makes it happen”.  If we are “watching it happen,” then we may be losing clients to our competition, not making changes that we should and not keeping an eye on the “game” and in this topic, that means our company’s books, accounting and tax planning.  And if you are wondering “what happened” when you finished filing your taxes, then you want to make a proactive change so you understand your business, your tax structure and what you can do to reduce your tax liability.  By speaking with a trusted tax advisor, go from “what happened” to “make it happen” and take charge of your taxes!