Everyone dreams of going for the gold whether it’s in the
Olympics or life or most often in business.
But we can’t all achieve that.
Most Olympians (whether or not they truly believe it) will tell you that
just competing is an honor but everyone wants to stand atop that podium and
hear their national anthem sung before the world. But winning the silver or bronze is still
impressive and the same can be said for business. We can’t all be Twitter or Amazon or
Google. There are many thriving “Mom and
Pop” shops out there that do fairly well and give their owners a sense of pride
and purpose and accomplishment. So what
can we learn from Olympic glory or defeat in business? What are some of the similarities?
There are emerging stars on this year’s national stage in
London. Alex Morgan and Megan Rapinoe of
The U.S. Women’s National Soccer Team have both made a name for themselves and
have solidified their spots as starters and game changers. There’s Ryan Lochte of the men’s swimming
team who did what would seem the unimaginable – beat Michael Phelps (who didn’t
even medal in that first race). Phelps
has achieved the height of Olympic glory but he is fast becoming a fading
star. In a recent interview with Matt
Lauer, he mentioned that after Beijing and his many accomplishments there, he
veered off course – fell into a depression, wasn’t committed to training
everyday and giving it his all. The same
can happen in business – you can shine or you can lose your way.
Olympians
are inspiring. They are supremely driven and dedicate their lives to pursuing
their goals. They are great role models
for all Americans, particularly small business owners. Olympic athletes have the same qualities that
are important for entrepreneurial success.
For
one, Olympians tend to preserve through hard times and tough competition. They dedicate themselves each day to staying
in shape and training meticulously. The
muscles they use might be of the body whereas an entrepreneur’s might be of the
mind. But there are many obstacles to
overcome in business as there are in sports.
Finding an idea first and foremost, getting the word out about your
business, building up a loyal customer base, getting financing, etc. An entrepreneur really has to push past their
own limitations and road blocks in order to become successful.
Mentoring
is another similarity entrepreneurs and Olympians share. Athletes look to their coaches where small
business owners look to those who have come before them or bosses or
co-workers. To be successful, they mingle
and network with like-minded individuals who can offer help, guidance and
inspiration.
Support. Olympians have a team of friends, family and
trainers behind them. The same can be
said of entrepreneurs. Having a trusted
ally to turn to with new ideas or just to get behind your venture whether it’s
financially or emotionally is important.
Facing
competition. Both Olympians and young
business owners face stiff competition from outside forces and they have to
find a way to muddle through. You can’t be
turned away by the notion that there are others out there with the same dream,
trying to reach the same goal.
Challenges
are another similarity between athletes and entrepreneurs. No successful venture can be successful
without overcoming them and there are many new business owners will face. But you have to push forward and stay
confident in your abilities.
Staying
the course. Athletes prepare and train
for months and years on end. In
business, you also have to stay the course through the rough times – loss of
customers, a bad economy or any other rough patches that come your way.
Dedication. Athletes train up to ten hours a day at
times. As an entrepreneur, you have to
commit yourself everyday to being successful.
You have to keep focus and keep your eye on your long-term goals and the
bigger picture. Doing little things
everyday can add up to success in the long-run.
Sacrifice. Athletes sacrifice social and academic
relationships at times to pursue their dreams.
As an entrepreneur just starting out, you may have to give up time with
family and friends which can be painful and isolating.
Investment
of time, money and resources is also another similarity. We’ve all heard stories of Olympic moms and
dads driving their kids to endless practices and games so that their children
can train to become Olympians. The same
is true of business. Sometimes
entrepreneurs put up their own money to go after a business dream, mortgage
their homes, take loans from the bank, etc.
It’s all a risk; a gamble, if you will.
Both
athletes and entrepreneurs have to be flexible and seize opportunity. You can’t be lazy or someone else might
quickly pass you by in sport or with a better, more innovative idea.
Optimism. It’s important for Olympians and
entrepreneurs to “keep the faith” and have self-belief. Put doubt out of your mind. You have to remind yourself each and every day
that you’re just as good, if not better, than the next guy.
I’ll
leave you with this last thought from an article I recently read: ‘Olympic champions
and small business owners dedicate their lives to making their dreams come
true. Their sacrifices and success
inspire others. Their will to win,
combined with the opportunities that are available in the United States, bring
them to heights they otherwise might not reach. We laud their effort, sympathize with their
failures and, of course, revel in their success.”
We
can’t all be Olympians, of course – that’s a given. We can’t all win the gold at the height of
sports extreme competition but we can take lessons away from these athletes
that we so admire and apply them to our everyday goals and business
dreams. I hope you’ll take what I’ve
said here today to heart and push past your own limitations and external forces
to reach for your dreams in the business world.
Until
next time…
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