FIVE BUSINESS LESSONS FROM LADIES IN SPORTS
Doing business offers insightful knowledge. These insights can be the difference in making informed business decisions or otherwise. From the Ladies in Sports Conference, here are a few business insights for informed decision making.
1. Sports is business. Major brands make good deals on the basis of informed decision and not on sentiments. While it is true that no product becomes a brand overnight, athletes and sports teams can be positioned for visibility and association in order to generate the right appeal. While the process, in some cases, may be slow, consistency and the right team can create a genuine product – athlete or sport team – with an attraction for investment.
2. Image is everything. Brands make informed decisions on the appeal of an athlete or sport team. They equally make such decisions on manifest and latent values that form the character makeup of a product. Lance Armstrong, Tiger Woods and until recently, Maria Sharapova, have been at the wrong end of image backlash in relation to questions on values. Fan behaviour has been identified as having a strong influence on the decisions of brands to respond effectively or they in turn, get to suffer hostile reaction.
3. Public speaking is business, as much as it is engagement. Not so much of a phenomenon among many Nigerian sports persons, but the trend is on the rise and bodes well for any athlete – active or veteran – who embraces the opportunity it offers. Connecting with the public and sharing deeply ingrained values from personal experience can be leveraged upon by brands and thus, makes the product a resource person and a go-to for influencing popular decisions.
4. You don’t become a professional overnight. It takes persistence, consistence and hard work to realise your goals. Being skilled and proficient are as good as setting goals. Goals remain idle or a fantasy without exertion. If the effort required to make them real is absent, they stay imaginary.
5. There is no perfect time to start. Nike’s tagline “Just Do it” is epochal with a clear narrative for actionable decision. Once it is clear in mind that a business idea has been birthed and basic information have been acquired, just do it. Creative ingenuity will always be the distinguishing factor in competition. The onus is on you to be consistent from the outset when you take off with a “Bolt”.
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