Grit. Passion. Time management. These are just a few of the traits that make great athletes — and, as it turns out, some of the same skills that translate to entrepreneurship.
ESPN’s online brand for women (espnW) and Ernst & Young (EY) unveiled a report in Chicago this week — a report that highlighted five traits necessary in athletics that correspond with strong business-creation skills. Looking for an advantage in starting your business? The report offers advice from over a dozen former female athletes-turned-entrepreneurs.
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Confidence. Athletes are built on confidence. To make it to the Olympics or compete at the World Cup, you have to believe that you can get there, said Talia Mashiach. The former athlete said confidence helped her build her technology company Eved. She noted that even as children, athletes are chosen first for a team and told how talented they are. “That confidence starts to build,” she said. And believing in your ideas and abilities helps when you are creating a business.
Single-mindedness. When your life is built around a sport, it becomes second nature to focus on one thing. Athletes have to focus everything on that goal, even if it doesn’t pay off financially or allow time for extracurriculars. This is valuable when you’re building a business, where beginnings often include a strapped budget and long hours. According to EY marketing and communications leader Lisa Schiffman, more than 90 percent of athletes in the study said they create annual, quarterly, even daily goals.
Passion. Enthusiasm for your goal is a necessity for the grit required to excel, whether in athletics or business. “Of course I’m ambitious,” Mashiach said. “Our nature is to keep on wanting to do more.” Athletes love to win. Others might be hesitant to be so competitive, but athletes know that “building a company is winning every day,” she said.
Leadership. Even individual athletes depend on others. And athletes understand the importance of translating their passion to the people around them. In a business, your teammates are the people helping to create your products and profits. “You don’t want it to be just a job for your employees,” said Marlene Sjoberg, a former soccer player.
Resilience. Building a business means many stops and starts and, at times, an end. But athletes are used to obstacles. Former swimmer Summer Sanders told researchers that athletes are more familiar with failure. “For us, it’s simply a learning step in the process of getting better,” she said. At the event, Mashiach acknowledged that building a business is hard work. “You climb a little, and you slide,” she said. “We’re really creating something from nothing.”
Even those who don’t have an Olympic medal hanging in their home can take cues from athletes. Set daily goals. Prioritize your time. Athletes understand they need to focus on things that matter most — in other words, feel free to hand off some tasks. And work with the best coaches. Building a business is, after all, learning every day. “Every experience I have is like a training,” Mashiach said.
Twitter @byalisonbowen
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