The Business Of Sport

Copied from Dr. Strive Masiyiwa

Pause: The business of sport, in numbers.
If you’re one of the highest paid football players
in the world today, you can be sure that key
people in the industry spend a lot of time looking
at your “numbers,” and by this I don’t mean the
number on your jersey. Modern sport at the very
top is a game of “numbers.”
The top clubs employ “data” gathered on each
player to assess performance. If a player is a
striker, they analyze data from each game to
assess his performance and effectiveness. They
can use it to compare him with players from
other teams and leagues. Those figures also play
a critical role when it comes to buying and
selling players.
Gone are the days when players were assessed
by just watching them play. Even avid fans are
increasingly debating player performance, using
such jargon as “number of assists,” “number of
tackles,” etc.
If you spend millions buying a player, it’s not
enough simply to see him play. They’ve
developed a complex matrix to analyze data on
each player. In fact, the data I’ve mentioned so
far is just the tip of the iceberg. There’s a whole
“science” involved in monitoring the performance
of supreme athletes at the top of the game,
whether soccer, American football, cricket,
tennis, etc.
If you’ve spent your life following a team as a
fan, it’s often easy to forget that sport is a big
business. Those “clubs” that you like to follow,
they’re businesses. Just like any business that
you know, they’re selling a product or a service.
Behind the scenes are shareholders,
entrepreneurs and managers (some more
important than the well-known coach). There are
business plans to be executed and profits to be
pursued.
As an entrepreneur, you must always “see” the
business side of things, even if it’s your favorite
sport. I can tell you the financial numbers of
some of the leading soccer clubs in Europe. I’m
so used to thinking and seeing things as an
entrepreneur that I make it a hobby to check for
“numbers.”
Performance is measured in numbers… As an
entrepreneur, you must always try to find ways
to measure your performance with numbers. The
more you do this, the more respected you will be.
Whatever it is you are doing as an entrepreneur,
it must be measured constantly, and using
numbers.
Every type of business has its numbers. There’s
a way to measure performance of every type of
business utilizing quantitative data. Do you know
the numbers of your business, or industry? Now
you don’t have to invent your own numbers,
because in every type of business (just like in
sport) there are universally agreed numbers.
“How profitable is your business?” If I ask you
that question, there’s a way to answer as a man
in the street or as an “entrepreneur.” Which one
are you?
Your answer can lead to an investor saying, “let’s
sit down and talk,” or politely ending the
conversation and running away from you! There’s
a way to present your answers in a way that will
have investors wanting to give you their last
penny, and another… to run far, far away from
you! You owe it to yourself to begin to know
these things.
Now that this secret has been revealed to you,
it’s your job to “search out” these matters:
# If you’re running a trading business, what
numbers should you collect and analyze?
# What about mining, farming, telecoms,
hairdressing, repairing computers or driving your
own taxi?
Whatever business you founded, manage or are
dreaming to create…What numbers you should be
collecting and analyzing?
We know the good players by their “numbers.”
As an entrepreneur, you must respect numbers.
End.

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