Even more sports strategies to inspire small business management.

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Thanks to PI Midlantic for hosting the even more sports strategies to inspire small business management.

Earlier this summer, I asked entrepreneurs from all over the world which strategies they borrow from sports to use in managing their companies and got such an outpouring of incredible advice that I wrote a four part series and even then advice overflowed onto this post.

There are two other parts so far to this series on Examiner.com and two more to come! Read part one “5 NBA strategies to inspire startups, featuring Jordan & the Mavericks” and part two “Steal these 5 sports strategies and use them to run your startup.

Thank you to all who contributed.

1. Know your players’ maximum stamina.

“Startups need to accurately and truthfully know how long their visible cash will last. Not enough cash is the same as your best athlete dying in front of the finish tape. Where is your top player going to collapse?”

Gary W. Patterson, Fiscal Doctor

2. Be more of a general manager and less coach.

“Coaches give concrete instructions, where general managers find the right talent and put them in the right position to succeed; they also give direction and have employees come up with solutions.”

Kash Razzaghi, Fancred

3. Have a short term memory.

"As both an athlete and the head of business development you need to embrace a Short Term Memory. This perspective helps you bounce back for future competitions and sales opportunities that arise after falling short in competition or with a business opportunity".

Brandon Laan, Race Roster

4. Grant freedom within structure.

“Everyone can learn from Vince Lombardi. Freedom within structure. Create
enough process to empower your early hires. Don't hold them back by
excessive reporting.”

Nicholas Scott, Permian Global

5. Make sure your players are drinking the Gatorade.

“Stack your team with talented employees who believe in your company’s mission; the type that are driven by working for the cause and not the paycheck.”

Kash Razzaghi, Fancred

6. Play to your team’s strengths.

“When managing your team pick strategies that play to your strengths and improve them. In sports if you are a good defensive team, then work to make that aspect even better.”

Tatsuya Nakagawa, Castagra Products, Inc.

7. Let your players take the last shot.

“Make employees feel important by assigning tasks that they believe directly impact the outcome of projects and overall success of the company.”

Kash Razzaghi, Fancred

8. Build a great team.

"Building a really good team is more important than having a stable full of top performing individuals. A team will pick up the slack for each other and cover when necessary; a group of individuals will seek personal gain and point fingers when their teammates are struggling, rather than lifting them up."

Brandon Laan, Race Roster

9.Give them chances to go from the minor leagues to the pros.

“Be sure to value and reward hard work (we offer $200 monthly stipends for sporting events) to continue motivating and moving them up in the ranks.”

Kash Razzaghi, Fancred

10. Believe in the athlete.

"Often the coach will believe in those they coach before athlete. When this happens, it is the tipping or turning point for the athlete in which their athletic career takes off. As a wealth advisor, we must believe our clients can accomplish their objectives (Start-up).

Robert K. O’Dell, Wheaton Wealth

 

11. Encourage your team.

"The coach will often impart courage to his/her athlete to take the next step into the unknown. When chips are down, the coach picks up their athlete and motivates them not to quit. My clients who have embarked on new horizons, often have fear or anxiety of the unknown. It is my job to put a face on that anxiety, which be cash flow projections, etc."

Robert K. O’Dell, Wheaton Wealth