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Lessons In Sport … Can they be applied to Lessons in Business?

From our Director, Sharon Henderson Legal People

Recently I attended the December VECCI Business Leaders lunch. Kudos to VECCI for putting on another great event!

The panel speakers were:

James Brayshaw Chairman North Melbourne Football Club & Melbourne Renegades

Andrew Westacott CEO Australian Grand Prix Corporation

Anthony “Lehmo” Lehman Radio Personality

As the panel spoke and shared their unique insights into the business of sport, it was interesting to draw a number of parallels between successful sporting teams and high performing businesses.

I want to share with you what I took away from the event:

Your Team Players (aka Employees)

Always look after & nurture your players
Employ & pay for good people, invest in them, to ensure great outcomes
Acknowledge others significant achievements
Deliver results through your people, empower them
It’s ok to rotate people (there will always be staff turnover), if others try to ‘steal’ your talent then you must be doing something right, as long as you’re replacing them with equally great talent.

Culture

Promote a positive culture and live it every day
People care more about your culture than your profits. If you focus on your people, profits will follow.

Leadership

People matter, have strong management, lead from the top and by example
Leaders must accept responsibility for outcomes, don’t play the blame game
There is a commonality between great leaders and sports people – their greatest legacy is often outside what they are known for/their field of endeavours. They are driven to change people’s lives and make a difference.
Leaders have vision for now and the future

Smart Business Sense

Ensure the public (your customers) have access to your people and the decision makers
There will always be opportunities to improve and do things better.
Govern your team (business) by “Doing what’s right”
Be clear about what you stand for in terms of defining your reputation and brand management
Know your product/service and know it well
Engage well with your target market
You must treat the game and your opponent (competitor) with the upmost of respect
It takes time to fix problems, address them head on and have realistic expectations
Have patience, adhere to strategic aims, acquire good people and over time you'll have enough to make a difference
Make sure every part of your business is aligned, one of most challenging aspects to achieve
You need to understand how to get from A to B
Preparation, clarity, strong communication, set expectations