15 Shared Traits Between Athletes and Business Professionals
Athletes and business professionals may seem to occupy vastly different arenas, but beneath the surface, they almost always often share traits that fuel their success. The shared traits between athletes and business professionals include delayed gratification and a fierce competitive nature, the parallels between these two domains run deeper though. Let’s explore these shared traits and how they contribute to success in both athletics and entrepreneurship:
1. Delayed Gratification: Both athletes and entrepreneurs understand the value of putting in the hard work upfront without expecting immediate rewards. Whether it’s hours of training or years of building a business, delayed gratification is a hallmark of their journey. The first day of Training Camp or Spring Training can seem like light years from the Super Bowl or World Series. But most players understand this. Their vision of putting that Super Bowl Ring on their finger or hoisting the World Series Trophy during a parade fuels their passion.
2. Diversified Skill Sets: Just as athletes possess a range of skills needed to excel in their sport, entrepreneurs often find themselves wearing multiple hats to navigate the complexities of business. Collaboration and delegation become key in leveraging diverse talents. We’re talking about the first baseman who, when needed, will play third base to fill in for an injured teammate. Or the entrepreneur who acts as their own accountant, salesperson, and marketing associate until they get into position to hire for these specialty positions.
3. Extreme Attention to Detail: Precision is paramount in both sports and business. Athletes meticulously track their progress, while entrepreneurs evaluate their company’s fitness with careful scrutiny, ensuring no detail goes unnoticed.
4. Celebrating Accomplishments: Whether it’s scoring a goal or hitting a sales target, both athletes and entrepreneurs understand the importance of celebrating victories. Acknowledging achievements fosters motivation and team spirit……and valuable memories.
5. Resilience: Setbacks are inevitable in both arenas, but resilience is what sets the successful apart. Athletes develop resilience through training and competition, while entrepreneurs face and overcome challenges in their ventures, emerging stronger each time.
6. High Risk, High Reward: Both athletes and entrepreneurs embrace the inherent risks of their pursuits, driven by the potential rewards that await. Calculated risk-taking becomes second nature as they pursue their goals. You want to hit a homerun with your business?
7. Endurance: Sustaining effort over the long term is essential for success. Whether it’s enduring physical demands on the field or navigating the challenges of business, athletes and entrepreneurs alike need resilience to persevere.
8. Mental Toughness: Strong mental fortitude is a common trait among athletes and entrepreneurs. They must stay focused and motivated, even in the face of adversity, bouncing back quickly from setbacks.
9. Goal-Setting: Clear goals serve as guiding stars on the path to success. Athletes and entrepreneurs set specific, measurable objectives, using them as roadmaps to navigate their respective journeys. Athlete goals are often measured in quantifiable things like Hits, interceptions, goals, blocks, etc. For business people, these goals are often monthly, quarterly, or yearly revenue targets……..or something more long term, like merging with another business entity or being acquired.
10. Time Management: Maximizing productivity and efficiency is crucial in both domains. Athletes and entrepreneurs excel at managing their time effectively, balancing multiple priorities to stay on track.
11. Teamwork: Success is rarely achieved alone. Both athletes and entrepreneurs understand the power of collaboration and rely on teamwork to achieve their goals, fostering synergy among team members. Even in golf and tennis, largely solo sports, coaches and advisors play an important role. So, in that regard, there is a team involved.
12. Perseverance: The ability to push through tough times is essential. Athletes and entrepreneurs alike must persevere, staying focused on their goals even when progress is slow or obstacles seem insurmountable.
13. Adaptability: Flexibility in the face of change is vital. Athletes and entrepreneurs must adapt quickly to evolving circumstances, adjusting their strategies to stay ahead of the game. That football field that’s being soaked with rain changes a lot……the footwear you wear, the speed at which you play the game, etc. In business, that new tax law that affects how and when you ship your product may force you to adapt.
14. Innovation: Creativity and innovation drive progress. Athletes and entrepreneurs constantly seek new ideas and solutions, pushing the boundaries of what’s possible in their respective fields.
15. Passion: Above all, passion fuels their pursuits. Athletes and entrepreneurs are driven by a deep love for what they do, willing to put in the hard work and sacrifice necessary to succeed. It’s rare to find a professional athlete who doesn’t LOVE what they do. How could you dedicate so much time and energy into this pursuit……if you don’t absolutely love doing it?!?! And for business people (specifically entrepreneurs who have chose to master a certain niche) well, how could you strike out on your own, to do something that you really don’t enjoy? It doesn’t happen often. Who says “Well, since I really hate doing payroll, I’m going to start a business processing payroll”? 😀😀😀
These shared traits underscore the symbiotic relationship between athletics and entrepreneurship, highlighting the universal principles that transcend boundaries. As athletes and entrepreneurs continue to push the limits of human potential, their shared journey serves as a testament to the power of perseverance, teamwork, and unwavering determination.
Putting Shared Traits Between Athletes and Business Professionals to the test – after a Professional Career in Sports
The transition from a career in professional sports to the business world is a journey fraught with challenges and opportunities. For athletes accustomed to the adrenaline of competition and the camaraderie of the locker room, stepping into the corporate arena can be both exhilarating and daunting. However, many former athletes have successfully made this transition, leveraging their unique skill sets, determination, and resilience to thrive in the world of business.
We will explore the intricacies of this transition, examining the strategies, pitfalls, and success stories of professional athletes who have ventured into entrepreneurship, corporate leadership, and various business ventures post-retirement.
The Decision to Transition
– The realization of the finite nature of a sports career. Most professional athletes spend only a few years collecting a professional athlete paycheck. The 10+ year career in professional sport is the exception, not the standard unfortunately
– Factors influencing the decision to transition: injuries, age, financial planning, and personal aspirations
– Overcoming the fear of the unknown: embracing change and seeking new challenges
Leveraging Transferable Skills
– Identifying skills acquired through sports: discipline, teamwork, leadership, resilience, and adaptability
– How athletic experiences translate to the business world: goal-setting, time management, decision-making under pressure, and effective communication
– Recognizing gaps in skills and seeking opportunities for growth and development
Exploring Entrepreneurship
– The allure of entrepreneurship for former athletes: autonomy, creativity, and the opportunity to build something from the ground up……and sometimes this former athlete has seed money to launch a new venturer with requiring loans and/or partners
Investing and Financial Management
– Financial considerations for retired athletes: managing wealth, diversifying investments, and planning for the future
– Exploring opportunities in real estate, venture capital, and angel investing
– Avoiding common pitfalls: scams, mismanagement, and trusting the wrong advisors
Building a Personal Brand
– The power of personal branding: leveraging fame and influence from the sports world
– Establishing credibility in the business world: authenticity, expertise, and thought leadership
– Utilizing social media and digital platforms to amplify one’s message and connect with audiences
Balancing Life After Sports
– Coping with the loss of identity and purpose: finding fulfillment beyond the playing field
– Prioritizing physical and mental well-being: transitioning from athlete to holistic health advocate
– Nurturing personal relationships and finding community outside of sports
Overcoming Challenges and Adversity
– Dealing with setbacks and failures: resilience and the importance of a growth mindset
– Seeking support and mentorship: learning from experienced professionals and surrounding oneself with a strong support network. Embracing what you don’t know…..and filling that void of the unknown with others who’ve been there before
– Turning obstacles into opportunities: embracing adversity as a catalyst for growth and innovation
Giving Back and Paying It Forward
– The responsibility of athletes as role models and community leaders. With the exposure the athlete has acquired during their playing days, come an opportunity to give back as a role model or public figure after they’ve left the field/arena/court/pool.
– Philanthropy and charitable initiatives: leveraging influence for social good
– Mentoring the next generation of athletes and entrepreneurs: sharing knowledge and experiences to inspire future leaders
The transition from professional sports to the business world is not merely a change in career path, but a transformative journey of self-discovery, growth, and reinvention. While the challenges may seem daunting, countless former athletes have proven that with determination, perseverance, and a willingness to embrace change, success in business is attainable. By leveraging their transferable skills, seeking new opportunities, and remaining true to their values, professional athletes can embark on a fulfilling second act beyond the field, leaving a lasting legacy both on and off the field of play.
Big name athletes who’ve transitioned quite well to the business world (list compiled by Yardbarker). Not a complete list by any stretch of the imagination. In fact, the list of professional athletes who weren’t household names is much longer.
George Foreman
Tim Horton
Jim Bouton
Magic Johnson
Shaquille O’Neal
John Elway
Roger Staubach
Herschel Walker
Vinnie Johnson
Arnold Palmer
Peyton Manning
Michael Strahan
Jack Nicklaus
Junior Bridgeman
David Beckham
Hakeem Olajuwon
John Madden
Nolan Ryan
Michael Jordan
Maria Sharapova: A tennis pro who has partnered with companies such as Nike and Porsche
So most retired athletes easily transition a life of 9am-5pm shifts, wake up at 6:30am, drink a coffee, jump into their sedan, put on a suit and tie, commute to an office downtown and spend their days in an office with a bunch of coworkers (none of whom experienced a previous career as a professional athlete? No
Although former athletes are accustomed to a structured day of training, studying film of upcoming opponents, and working out/weight lifting, they’ve also earned the freedom to own their time. Where they are, when they’re there, who they’re with, and how long they’re with them. So in comes the virtual office. The virtual office is their “home base” without commuting, without signing autographs and taking selfies with fans in the parking lot. And perhaps the most important feature of a virtual office for ex-athletes – PRIVACY.
So you may be thinking, are there former professional athletes using The Works as their official office locations for their businesses? And the answer is…….see above where we mention PRIVACY 😀.
