SPORT VS. ENTREPRENEURSHIP: LESSON LEARNED

Jan 29, 2018

Sport and entrepreneurship may strike no relationship, at least in terms of their meaning and public attention. But to say there is no common learning points between them would cause a terribly wrong notion. The following are 3 winning lessons that sports and entrepreneurship share, from which entrepreneurs at CirCO can learn from to improve teamwork and higher the chances of business success.

1. Building a solid team

Obviously, no sport team or start-ups can survive on 1 single individual. It must take a collection of multi-functional personnel with a wide range of expertise to properly run an organization. The same thing applies to sports, when we combine experience, a fearless attitude of a youth and some skills, we can achieve amazing things.
Your team can even determine how well the organization is operated. A close-knitted community where people know one another will generate good results, while a group with no direction or mutual value just remain a loose-flung bunch of people, let alone a team.
In sports, and also in your own start-ups, team work does not simply mean working efficiently together. It’s also the spirit that is inspires everyone to head towards one common goal, kick off, and win the match.

2. Failure is inevitable, but resilience wins the game

“Ultimately, Vietnam winning the trophy would have made a good story great but didn’t matter that much. The main prize had already been won. The legacy of this team will be all the above – the bringing together of a country and all the other benefits – and something else. Vietnam have erased any semblance of the inferiority complex that ASEAN teams have had when taking on so-called bigger and better nations on the pitch.” (John Duerden, Foxsportasia)
Vietnam is yet to get the attention from the world. We have long considered ourselves “small and inferior” to other “bigger and better nations” in the region. Many years of elimination round failure, final’s 2nd place and defeat to Thailand have left many of us unconsciously unexcited for new challenges and titles. But we never give up.
Your business may run into outstanding debts, or in the best scenario, break even. You may lose all your clients, mis-employ your team, or get ripped off by ill-meaning suppliers. But in the end, what defines success and growth of your business is in how many times you bounce back, get up and do it again.

3. Success is a journey, not just some destination

The U23 Vietnam’s victory has got millions of people talking about. And this victory is not a given. It has been earned, with tears and blood, after years of training, failures and get-back-ons. Athletics train not only their body, but also their mind. It is not only about the onsite performance, but also the lobbying, the campaigns and the media that gets the news around. So to win a match is not about performing better, but also about training hard and displaying enough charisma.
Success in business applies the same principles. Winning a pitch is a long process of proving your business, seeking for investors, allocating the fund and much more. Surviving the market does not start with the inauguration of your start-up, but the power it accumulates to bounce back up after failures. Success is, in a sense, something accumulated along the way, rather than a moment of victory.