Weekly Business Insights from Top Ten Business Magazines | Week 294 | Strategy & Business Model Section | 3

Extractive summaries of and key takeaways from the articles curated from TOP TEN BUSINESS MAGAZINES to promote informed business decision-making | Week 294 | April 28-May 4, 2023

5 Things Great Basketball Teams Have in Common With Great Businesses Success 

By Ken Sterling | Inc Magazine | April 26, 2023

Listen to the Extractive Summary of the Article

Shooting hoops and sales calls might not seem to have a lot in common. However, both require teamwork and a positive mindset. Great basketball players and business teams need to know how to work together to succeed. It’s not just about making that last amazing shot at the buzzer,  it’s also about building culture, working together, and cultivating a resilient mindset.  5 commons between the two are:

1. Teamwork.  Great teams and great businesses both focus on the essentials of teamwork. No one expresses how teamwork is done better than Mike Brown, two-time NBA Coach of the Year and current Head Coach of the Sacramento Kings: “I’m going to preach from day 1, they have to have communication, they have to give effort, and they’ve got to trust one another.”
2. Ask for Help.  Teams work well together because they help each other out. That’s why it’s okay to ask for help if you need it. In fact, you should ask for help because that’s better for you and your team.  This philosophy is best expressed by NBA champion Metta World Peace and current advocate for mental health: “It’s okay if you need help. If you have to address issues.”
3. Resilient Mindset.  Great teams foster players with a resilient mindset. This mindset is best summed up by Coach Kara Lawson, a WNBA champion and the Duke Women’s basketball coach.  Kara says, “We all wait in life for things to get easier. It will never get easier. What happens is you handle hard better.”
4. Positive Culture.  When it comes to working well together, you need to have a positive culture. Everyone is nice to each other when things go well. But you also have to be good to one another when things don’t go well. This philosophy is expressed best by Golden State Warriors Head Coach Steve Kerr: “If you can’t maintain your culture during the down times, then you don’t really have a culture. It’s just dependent on winning. The culture has to survive losing stretches.”
5. Commitment.  Finally, in order to have a successful business or team, you need to be committed. You can’t do things halfway and expect to do well.  NBA Champion Magic Johnson best sums up commitment with this advice he got from his father: “Do this job halfway, and you’ll be a halfway ball player and do things halfway in life.”

A key takeaway from the article

1. Teams in basketball and business aren’t all that different. You need to focus on teamwork, ask for help when you need it, cultivate a resilient mindset, build a positive culture, and commit one hundred percent.

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Topics:  Leadership, Team, Entrepreneurship