Go For the Gold: Olympic Lessons for Entrepreneurs

by Kelli Matthews on July 24, 2012

With the opening ceremonies of the 2012 Summer Olympics, fans all over the globe will be glued to the TV watching sports we rarely see televised (fencing, anyone?) and cheering on athletes we’ve barely heard of (except for the men’s basketball team, maybe).

In the broadest sense, Olympic athletes are small business owners. An athlete is their own product and their business is to be the best in the world. They must also manage their schedule, build relationships with sponsors and teammates and be part of a community.

Is this any different than an entrepreneur working every day to make their startup or small business a success? What are some lessons that entrepreneurs can learn from Olympic athletes? I gave it some thought and came up with three things that stand out as lessons entrepreneurs could learn from Olympians.

1. Keep setting new goals.

An athlete doesn’t consider a personal record (or PR) a static point in time. Every time he or she achieves a PR, a new one is immediately set. As an entrepreneur, success comes from stretching just a little farther than you think is possible. When you achieve one goal, immediately set another. Having that clarity about the desired outcome keeps you focused when everything else can feel like it’s in flux.

Read more

WHY DID MY PROPOSAL FAIL?

I have submitted my proposals in several places but no response, what am I doing wrong? Most professionals hate writing in general and proposals in particular which makes it bad because it’s actually very hard to do something well if you hate it. Some of the very best account executives, program managers, engineers, designers and … Read more

There are no failed relat…

There are no failed relationships. You either find out you best married to yourselves or find out otherwise.

As long as you find your joy in what others think of you, your joy will depend on what they do to you. That’s risky.

Nobody can get popular by criticizing a popular or performing leader.

Life is a lot easier when you don’t (can’t) blame anyone for what makes you sad or happy

I am a very nice person. Don’t read my tweets with a prejudiced heart. Use an open mind

Quotes from J Japheth Omojuwa.

Japheth Omojuwa is one of Nigeria’s young and vibrant voices of revolution! His unspoken promise to the nation is more heralded in the venom of his constructive criticism chanting of Nigeria “I will never rest until it’s good is better” Today we celebrate him on this Blog! Keep the flag flying Japh!

Seun Ajibade

Use Pricing Strategy to Boost Sales

Image

By Rafi Mohammed

What’s the fastest way to profitably sell more of whatever it is your company sells? I argue that it’s better pricing. Think about how your company sets prices: Are you confident that your prices capture the value of your products and services? When I ask managers this question, most respond with a chagrined: “Not very confident.”

There are three reasons why “better pricing” should be your company’s top priority. First, if your company is not setting the right prices, there are hidden profits waiting to be tapped. Second, small changes in price can lead to big profits. McKinsey & Co. studied the Global 1200 and found that if they raised prices by just 1% — and demand remains constant — profits would go up on average by 11%, for instance. How much will a 1% price increase boost your profits? Finally and best of all, in many industries prices can literally be changed on Sunday night and start generating more profits on Monday morning.

Read more

The power of an Organisat…

The power of an Organisation is the capacity generated by relationships.
It’s real energy that can only come into existence through relationships.
Power is energy. It needs to flow through the organisation.
It can’t be confined to functions or levels or hierachy.
Positive or negativeOrganisational energy is determined by the quality of relationships.
Those who relate through coercion, or indisregard of others, create negative energy.
Those who are open to others and who see others in their fullness create positive energy.

ADAPTED FROM

LEADERSHIP FROM THE NEW SCIENCES,

MAGARET WHEATLEY