Like many people across the world, I’ve really enjoyed the 2020 Olympics games.
It’s been a thrilling yet emotional rollercoaster full of ups and downs with many unexpected twists and turns.
Some athletes that were expected to do well haven’t while others swooped in and stole the show.
What struck me most are the similarities between the top athletes in the world and running your own business.
In this article, I’m going to explore some of the similarities and the lessons that can be drawn between being a business owner and an athlete.
What Business Owners and Olympic Champions Have in Common
Both athletes and business owners need to have ….
- Courage and confidence to have a go
- Unwavering self-belief that you are good enough
- Determination to succeed
- Self-sacrifice until you achieve your goal
- Motivation to make things happen
- Resilience to keep going when things go wrong.
- Ability to bounce back when the unexpected happens
- Focus to stay on course
- Discipline to get the work done
- Tenacity to get up every day and keep going
Small Changes Can Have a Big Impact on Your Bottom Line.
In the 2018 Olympics, Adam Peaty was a really good swimmer but in the recent Olympics games, he became of the greatest swimmers.
He knew that to win he needed to make incremental improvements in small key areas to give him the edge over his competitors.
So, he worked on his improving his start, even hiring a coach to help with just this.
He came away with a gold medal as a result of achieving a marginal gain.
The principle of working on small incremental changes in your business is just the same.
The big wins don’t come from major changes they almost always come from small incremental changes.
Improving your lead generation system, your sales process, or client delivery system by just a small percentage can have a big impact.
This was certainly the case for a recent client, Henry.
By making small changes to his pricing strategy and sales process to improve his conversion rate, Henry enjoyed a 52% increase in profits.
The definition of a high-growth company is a 20% uplift in profits, so achieving 52% is very good.
Are You Leaving Your Success to Chance?
After a well-earned rest Team GB, they will soon be back training in preparation for Paris 2024.
To get a chance at gold they have to plan smartly and develop healthy habits to over-training or burnout.
Now you might not be going for gold anytime soon but the principle of planning and pacing yourself applies just the same in business.
Without a plan then you are taking a chance on success, as the saying goes, “a goal without a plan is just a wish”.
You don’t need a stuffy old business plan unless of course, you are looking for investment or lending. But you do need to have a clear view of where you’re heading and some smart strategies to help e you get there.
Being in business is a marathon, not a sprint. And so, just like athletes, it’s wise to cultivate healthy habits and pace yourself, to avoid burnout.
What Business Owners Can Learn from Olympic Coaches
Every Olympian has a coach to help improve their performance and chances of success.
Many are ex-competitors who understand the sport and have the first-hand experience of what it takes to win.
They help the athlete develop technical skills, overcome challenges, keep them on track and motivated to achieve their goal.
For much the same reasons, many business owners choose to work with a business coach/mentor to speed up their success and achieve their financial goals.
Unless you have run a business before then you are always going to be on a learning curve, no matter what stage your business is at. There will always be something new to get to grips with and challenges ahead.
A good business coach/mentor can help you achieve measurable results, just like athletes. They will help you:
- Make more money in less time by using a proven business model
- get better, more profitable clients
- speed up results by injecting new ideas and tried and test strategies from their experience of working with other businesses
- improve efficiencies, systems, and processes so your business runs like clockwork
- reduce dependency on you
- improve the teams’ performance
- be a soundboard and confidante for your issues and ideas to keep you moving forward
- help you cut through the fog and keep you focused on priorities
- improve your confidence as a business owner and develop your business skills
- hold your feet to the fire and keep you accountable on your promises
- get more done in less time
- have more time for yourself, your friend, your family, and interests.
Having a business coach/mentor isn’t essential and you are just as likely to get there on your own.
But if you want to grow and scale quicker, easier with less stress then consider hiring an experienced business coach/mentor.
So, there you have it, business owners do have more in common with Olympic champions than you might think.
If you have ambitious plans for your business and want to improve your chances of success then having a well-thought-through growth plan is a good starting point.
If you would any help with this or just a second opinion on your existing plan then feel free to book a FREE BUSINESS GROWTH PLANNING SESSION with me.
https://calendly.com/anne-oreilly/45-min-strategy-session
On the call, we’ll look at where you are now, where you want to be, what’s eating up your time, and where the opportunities are in your business.
You’ll go away with a clear 3 Step Action Plan to get things moving quickly to help generate more money, free up your time and get the support you need.
You’ll leave the call feeling clear, confident, and excited about taking things to the next level.
Don’t delay, book in your FREE BUSINESS GROWTH PLANNING SESSION with me today
https://calendly.com/anne-oreilly/45-min-strategy-session
Alternatively, take the FREE BUSINESS ASSESSMENT and I’ll send you a personalised report highlighting the areas to work on that will make a difference. – CLICK THE LINK BELOW.
https://www.results360.biz/quiz/
Here’s to your success …
Anne.
“Building a profitable service business isn’t complicated. but isn’t easy either!”
Need More help?
If you are a new or experienced consultant, executive or business coach and want to grow faster then here are a few ways I can help you.
1. Join the Consultants Hub (FB Group) https://www.facebook.com/groups/R360GrowthHub/ Connect with other consultants and coaches who are growing fast, earning more, and happy to share their experience.
2. Grab a copy of the most popular download, Nail Your Niche https://www.results360.biz/free-downloads/
3. Book a 30-min Strategy Session and let me help you put a plan together to move you forward faster. https://calendly.com/anne-oreilly.
