Posts Tagged ‘sports’

10 things entrepreneurs can learn from chefs

Monday, January 9th, 2012

Who among us doesn’t love a great meal? Whether we choose eat at home or in a restaurant, all of us appreciate and respect the work that goes into preparing and presenting our food. We love the humble diner which serves up a phenomenal burger and fries and marvel over the lavish cuisine served up at a 4-star establishment. The proprietors of these two distinctly different types of business have a great deal in common – with each other as well as with the community of entrepreneurs in general. They understand their market, work hard to satisfy their customers, and create a high-quality product and service to compete effectively against each other as well as the thousands and thousands of other restaurants at hand. This is the latest in a series of posts I have been working on that discusses how we can draw lessons for our own ventures from the world around us – specifically from unexpected quarters. Last year, I wrote about how much we can learn from kids, about what dogs  and musicians can teach us, and how we can draw inspiration from athletes. Today the great chefs of the world get their turn; these artists are are often wonderful business people and genuinely entrepreneurial, but are admired for their unending creativity and dedication to their craft. Great chefs work everyday to achieve perfection, and we can each learn from their example and their pursuit of the consummate creme brûlée (or burgér, if that should be your personal preference).

1. Chefs live by their creativity. There are not many businesses that are completely dependent on a continuous flow of creativity. Entertainment, advertising, and fine art are among the few industries built completely on a creative output. Fine dining stands among these as an example of pure creativity as a service and a product and the best chefs live and die purely on their ability to create. The chef who loses this ability can no longer compete and can no longer serve their customers or their market.

2. Chefs develop skills over time. Like a great musician a chef develops their skills and technique over many years of practice and refinement. Cooking is not just an art form, but also a craft and the tools, methods, and skills can take years to master. Whether classically trained, or self-taught the great chefs have worked hard to develop their expertise and these abilities are what set them apart and make them unique.

3. Chefs perfect. We speak and write often about the importance of iteration and constant improvement and the best chefs are masters of this. Developing great recipes is a time consuming process and the analogy to developing our own products or services is apt: take the time to develop yours by a process of refinement and repetition until it is as delicious as can be.

4. Chefs listen to their customers. Can you think of another profession where your customer is more critical to the process? Seriously, if they don’t like your product they will leave. They won’t come back and they won’t send their friends to eat the food either. In other industries, the entrepreneur can survive if their product is OK, or even of they have a fail or two. If you are to compete in the world of the chef, you had better pay close attention to that customer and their happiness with your food or you will not have a customer left.

5. Chefs work in teams. Great food is often, though not always, a team endeavor and the skills if the team are crucial. Chefs compete for talent on their staffs just the way you compete for talent in your business. And, as with any team, chef’s teams are an aggregate of the necessary skills and abilities needed to get the job done: sous chefs, line cooks, prep cooks, wait staff, mixologists all contribute to the overall experience of the customer and each of these folks come with their own talents and abilities. (more…)

10 things entrepreneurs can learn from athletes

Monday, November 21st, 2011

Entrepreneurs can learn a great deal from the world of sport, and in particular we can learn from the professional athletes themselves. In the past year, I have written a number of posts about ways we can learn from others and from the world around us; I wrote about how much we can learn from kids, about what dogs can teach us, and about what we can learn from musicians. This morning I was thinking about ways I could improve my own focus and productivity and it occurred to me that athletes provide a great model for this; here is a group of professionals whose very careers are dependent on their ability to focus and produce. A relatively small subset of workers within a larger industry, athletes are not only there to entertain us. but to motivate and inspire us. In business we are constantly bombarded with sports analogies and metaphors and as a society, we tend to lionize athletes and their achievements. I believe that this esteem is appropriate, especially in the contact of business. Professional athletes strive every day to perfect their skills, to promote their teams, and  to win. Entrepreneurs stand to gain greatly by doing these things, too.

1. Athletes train. Athletes prepare themselves both before and during their season through constant training and conditioning. Strengthening exercises, stretching, endurance training; all are part of a regimen that top athletes carry out throughout their careers to ensure they are in top shape to perform their job. The best entrepreneurs enact their own version of this; we work out by constantly studying new business ideas and innovation, by strategizing, by analyzing, and by planning. The best entrepreneurs make sure that their minds are well trained and properly conditioned to adjust to an ever-changing competitive and business environment.

2. Athletes focus. When a batter is in their stance, standing at home plate, and closely watching the opposing pitcher, they are a picture of intense focus and concentration. In business we rarely have someone throw an object towards our bodies at 100+ miles per hour (not that it doesn’t happen on occasion). The extraordinary focus required in sports is a quality that athletes develop over time and that good coaching and training encourage and enable. Entrepreneurs can learns much from athletes about keeping their eye on the ball and concentrating on what’s most important in any given moment.

3. Athletes practice. Different from the every day conditioning that athletes do to keep their bodies strong, practice is the repetition of a motion or activity over and over. Kicking, dribbling, swinging, and throwing are physical activities that, when repeated endlessly, allow the body to develop a ‘sense memory.’ This sense memory is how athlete’s bodies are able respond in fractions of a second to the fast-moving action in the game around them. Entrepreneurs, too, must develop their own version of sense memory in order to respond quickly to the data and other information continuously presented to them. And just as athletes practice that shot over and over and over, entrepreneurs can execute their own version of this by continuously learning and practicing new skills.

4. Athletes take coaching. The strongest relationship in sports is between a great athlete and their coach. Coaches provide guidance, structure, context, and discipline which players can utilize every day. In business we look for mentors, teachers, and coaches of our own to teach us, to provide direction, and to give feedback. The very best entrepreneurs actively seek out their own coaches and fully leverage the knowledge and strengths they provide.

5. Athletes work together. There are plenty of examples of athletes who compete in non-team sports, but entrepreneurs stand to learn the most from teams. The most successful sports teams are those that depend completely upon one another. Great teams often have great stars, standouts who provide leadership and skills which give a team an extra advantage. Michael Jordan said, “Talent wins games, but teamwork and intelligence wins championships.” Entrepreneurs, too, can be all-stars, but their companies rarely succeed in a meaningful way without a great team surrounding them. Aristotle’s quote about, “the whole is greater than the sum of its parts” is as true in business as it is in sports.

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6 great athlete-entrepreneurs and what they accomplished

Monday, June 6th, 2011

We all have a great deal to learn as entrepreneurs and we look in many directions for inspiration. Perhaps the most common place we look is to sports and to athletes. We constantly use sports metaphors to describe our challenges, approaches, and successes; how many times have you recently used an expression like “score!” or “level playing field?” The accomplishments of our great sports figures are celebrated across cultures, they are held up as role-models to our children, and they sustain our interest across the years.

With their relatively short professional life-spans, many athletes go on to successful second-act business careers after their retirement from sports. Considering that most athletes are retire from sports in their 20s or 30s, this is not a surprise. What is a surprise is how many athletes (particularly those who excel in team, as opposed to individual, sports) become entrepreneurs and leave a meaningful mark across industries as varied as fashion, entertainment, and food service.

Here are my 6 favorite athlete-entrepreneurs (in no particular order), a bit about their sporting accomplishments, and what they have achieved in business in their post-sport lives.

1. Michael Jordan.
The single greatest basketball player of all time (in my opinion, at least), MJ changed the way the game is played and left an indelible mark on the NBA. His lifetime player salary was nearly $100 million, but it is as an entrepreneur that he has made the greatest impact. As a brand unto himself, he not only acted as a spokesman, endorsing numerous other brands, but is also the owner of the NBA Charlotte Bobcats, which he bought for around $175 million in 2010.

2. George Foreman.
A former heavyweight world boxing champion, Foreman won the title from Joe Frazier, went on to lose it back to Muhammed Ali, and then won it back 20 years later, beating Michael Moorer and becoming the oldest professional boxing champion in history. Today, more 100 million George Foreman Grills later, he is one of the leading entrepreneurs in the world, with a line of clothing, and a cleaning product company among others. In 1999 Foreman sold the rights to the George Foreman Grill for $137 million.

3. Venus Williams.
Venus Williams is a world-renowned tennis player and a household name, with 21 Grand Slam Tournament titles to her name. She has been ranked the number 1 woman’s player in the world on three separate occasions and is considered by many to be the greatest women’s tennis player ever.

Williams currently is the founder and CEO of her interior design firm “V Starr Interiors,” has her own fashion line and is a part-owner of the Miami Dolphins NFL franchise. She is a best-selling author, whose book was number 5 on the NY Times Best Seller list and was named to Forbes 2010 Top Celebrity 100 List.

4. Cal Ripken Jr.
Ripken played in more consecutive games than any other professional baseball player in history: 2,632 games! We is on a very short list of players with more than 400 home runs and 3,000 hits.

He is the owner of 2 minor league teams (the Augusta GreenJackets and the Charlotte Stone Crabs) as well as a spokesman for many major consumer product brands. He is a best-selling author and the founder of Athletes for Hope, a charitable organization.

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