There are several lessons business can seek from various sports. From handling the finances effectively to managing your teams, each sport imparts some values in its leaders.
With the UK economy suffering to sustain in the international market, SMEs are facing more and more cash flow problems than ever. An individual with fine leadership qualities can successfully get their company out of any cash flow or management issues.
. With SMEs facing difficulties to secure business funds, alternative finance firms are at their rescue.
These leadership values could be well learned through sports. By talking to a few experts in sports who also are business leaders, we have come across five principles that can help you create a winning team mind-set.
These five principles are as follows:
- Emotional Intelligence
- Story Telling
Let us start with what each of these principles means in detail.
Most great sports leaders strive to become the ultimate model of simplicity (a one-sentence statement of all their intentions). Steve Redgrave, on the other hand, was dismissive about the idea of incorporating weight training into his regime. His answer was, “If I wanted to lift weights, I would have chosen to be a weight lifter.
Soon after implementing the new regime, Redgrave began to see the difference that power lifting made to his speed in the boat. He then became one of the most committed trainers in the gym.
It is more encouraging and satisfying to find a solution to a problem yourself than having someone else solve it for you. This is well explained by a British Cycling – a gold medal factory – who does this by appointing each athlete as a ‘monarch’.
Here, each athlete is appointed as a king or queen of their discipline. They have performance support staff alongside their ‘aides’ and ‘advisers’ to help them guide them.
The appointed kings or queens are able to pick and select where they get their help from. However, if they do not meet their agreed performance target, they are defeated and replaced.
The company puts the riders on the position where they have the ownership and responsibility for thinking about what they are doing. The company acts as minions around these athletes giving them expert advice which seem to effectively work.
3: Emotional Intelligence
When working under pressure, the human brain has the tendency to engage its emotional side in a contest with the rational. However, the emotional brain is five times stronger, unless it is controlled, it takes over. The consequences of such a situation are clear: We tend to become more erratic and unpredictable, often forgetting what is best at the moment.
World’s great coaches handle this neurological conflict at its best effect. According to the USA boxing coach, Emanuel Steward, to help people perform their best under pressure, he has a two-step approach, which reinforces this two-brains-in-one model.
To engage, it is essential to contain and then explain. It certainly does not work in any other order.
According to the former US secretary of state, Colin Powell, “If you cannot explain what you are doing to your grandmother, maybe you do not really understand it.”
Great leaders are able to explain themselves and their mottos in a clear, understandable manner. Explaining your team the practical application of your idea is the only way to ensure that it will mean the same thing to everyone listening.
Sebastian Coe delivered an emotional speech (a story), in 2005, to the International Olympic Committee Members regarding the powerful inspiration the Olympic Games had on him and would possibly have on the future generation.
At the end of his story, he said, “On behalf of the entire youth today, the athletes of tomorrow and the Olympians of the future, we humbly submit the bid of London 2012.”
At the end of the whole discussion, I would like to say that, you cannot do anything without proper planning. If you are investing your money in your business without knowing your business it means you are wasting your time. You should have a proper plan to deal with your profit, budget and more importantly your tax. You should contact a company in your area for Tax Agent Services to get a better flow of your cash. In this way, you can get a real climax in your business and can have good revenue as well.