How to Prep Your Business Like an Olympian
By Jeremy Bloom |
Training for the Games is a lot like running a startup.
(Entrepreneur) Just as the Winter Olympics come around every four years, so a huge
business challenge arrives on the scene every few years, compelling
businesses to get fit and prepare or risk extinction.
Remember the Y2K bug? A supposed software fault was
going to crash worldwide computer systems as the clock ticked into the
year 2000. Businesses spent millions in resources, and time,
to counter
the threat. Right now, at Integrate, we are working toward the
arrival this May of the EU's General Data Protection Regulation (GDPR). This will be a game changer for marketers.
Our
preparations for it are similar, in many ways, to the preparations going
on for the 2018 Pyeongchang Olympic Winter Games, in Korea, just two
days away.
Organization
Like these winter Olympics,
preparation for GDPR started years ago. Assembling trainers, coaches,
physicians, equipment, transport, training camps, contingency plans, the
training program and the athletes, of course, is similar to getting
researchers, lawyers, marketers, system analysts, software engineers and
programmers, sales teams, thought leadership,
email funnels and payment methods in place -- as well as sales support,
PR and advertising after the fact. Without organization nothing
happens.
Nutrition
My Olympic nutritionist always
reminds me, "You are what you eat." Teams and coaches go to extreme
lengths to make sure the right foods are consumed for the right
training. Building stamina and increasing routines to power up results
needs a finely regulated balance.
In
business, information is our nutrition. Building on each piece of
knowledge gleaned, so our clients have the edge, and can comply easily
with anything that is thrown at them by government agencies is key to
them being able to function properly. Without the right information,
channeled the right way, underperformance can be the only result.
Equipment
In my sport, ski companies spend
millions of dollars researching new materials, manufacturing techniques,
designs and ideas. They are not alone. Having that edge is what
separates the winners from the pack. Having the right equipment, honed
to perfection, adjusted precisely, is what will gain those millimeters
or milliseconds.
In business, having sub-standard equipment will
bankrupt you. From the servers, through the ordering process, the after
sales backup and the delivery -- reliable, efficient and effective
equipment, well maintained and used properly, will keep your customers
happy and add money to your bottom line.
Planning
Nobody ever won an Olympic gold by
just showing up. There is a complex rotation of planning and scheduling,
taking in not just the performance of the athlete, but his or her
competition and rivals, too. A series of competitions against fellow
competitors allows comparisons to be made and training to be adjusted.
Opposing techniques can then be analyzed and picked apart.
"Reverse
engineering" is common in industry -- competitors' products and
services are examined closely, exhibitions and seminars are ideal places
to scope out the competition, and sequences of planned production, or
training improvements and innovations made, to readjust the levels.
Businesses should always have one eye on the competition
Fitness
Maintaining fitness levels and
making sure that peak performance kicks in on the right day is one of
the major challenges of any Olympian. Peak too early, and the
opportunity can be wasted; peak too late, and you might not win that
medal.
In business, customer retention can be seen in the
same way. Ensuring comprehensive customer health checks will help you
stay ahead of renewal. Ignoring the warning signs of churn, and your
customers will soon find another vendor. Timing is the key -- and having
the right amount of obsession for customer success.
Rewards
The four-year run up to each
Olympics can be exhausting. When all your friends are going to prom and
you have to be at a training camp for skiing it can be demoralizing --
especially if things aren't going too well. In sport, as in business, it
is important to keep your motivation going and give yourself small
rewards for meeting critical targets.
Collaboration
There is a reason countries
field Olympic "teams" or "squads." Even in a solo event, like mine,
training with, and against, fellow teammates helps motivate and
stimulate, and gives you new ideas. Trying to go it alone, or setting
yourself apart is never a great plan.
In business, collaboration is equally essential. A
major problem to one person, is an easy solution to a team of great
talent. Either someone will know -- or a brainstorming session or
project meeting will sort it out. Teamwork is a business essential.
Taking a professional approach to every aspect of
your preparation is the key. As an individual action, each may not
amount to much, but add them together and when the opportunity arises to
take part in the challenge, your chances of winning are multiplied many
times over.
Jeremy Bloom is the only athlete ever to ski in the Olympics and play in the NFL. He is a co-founder and CEO of Integrate,
a marketing software and media services provider. He is a member of the
United States Skiing Hall of Fame, a two-time Olympian and 11-time
World Cup gold medalist, as well as a former football player for the
Philadelphia Eagles and the Pittsburgh Steelers.
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