While seemingly disparate, businesses and sports share fundamental principles: discipline, training, strategy, and teamwork. Just as sports have rules, so do businesses—rules of collaboration, employee management, communication, and finance. Arturo Chávez, a business coach and founder of Business Coaching Firm, highlighted this in an interview.
Entrepreneurship: A Multi-Level Game
Chávez likens entrepreneurship to a sport played across various levels: grassroots, where the business just starts and functions as self-employment; local, where the company grows and becomes a community leader; and professional, when delegation is mastered, transforming the entrepreneur into an investor.
To achieve this growth, entrepreneurs must ask themselves what skills they possess and which ones need development. “As I develop my skills, I climb the ladder in sports; similarly, in business, progress requires constant practice and teamwork,” Chávez explained.
Business Requires Practice and Teamwork
“El libro del Empresario” points out a common mistake among entrepreneurs: believing that expertise in one area automatically translates to business success. In reality, consistent practice and teamwork are essential.
To win, one must practice and listen to guidance that teaches techniques and improvement.
Initially, the owner often handles various tasks due to their role in business administration, hiring, and sales. However, over time, they must delegate tasks and transition from a collaborator mindset to an entrepreneurial one.
A successful, profitable business should operate without the owner’s direct involvement; the business must work for the owner, not the other way around, or it becomes self-employment.
The Significance of Strategy in Business
In a game, each move is planned to leverage strengths and minimize risks. In the business world, strategic planning enables identifying market opportunities and outperforming competitors.
Chávez advises having a dashboard of indicators, which should embody the business strategy and include financial, marketing, human resources, and administrative plans to propel the business forward.
“Directing a business is an intellectual sport won with knowledge, not just emotions. While passion and enjoyment are fundamental, a company’s success hinges on the owner’s ability to execute strategy,” Chávez emphasized.
Key Questions and Answers
- Q: Why are business and sports principles similar? A: Both require discipline, training, strategy, and teamwork.
- Q: How does entrepreneurship compare to a sport? A: Entrepreneurship is likened to a multi-level sport, progressing from grassroots to local and professional levels.
- Q: What’s the importance of practice in business? A: Consistent practice and teamwork are crucial for business success, just as in sports.
- Q: Why is strategy vital for a business? A: Strategic planning helps identify market opportunities and outperform competitors, much like game-winning moves.
