The prefixing of the word ‘elite’ to ‘athlete’ indicates how they are the best of the best. They go above and beyond to compete in extraordinary levels where the stakes are highest and the competition fiercest. They push their bodies and minds to extreme lengths. The entrepreneurial market is as competitive as the field of sports says serial entrepreneur Deep Patel. This is why athletic success can similarly be translated into entrepreneurial prosperity. While physical training may not be mandatory to entrepreneurs, many of the foundations, habits, and attitudes that it entails can help them achieve success in their own measures.
Here’s what entrepreneurs can learn from elite athletes.
Whether it is under someone’s watchful eye—be it that of an audience or the market—it can cause extreme pressure. But taking a cue from athletes and using this pressure to fuel and motivate you is what will help you thrive. Taking every opportunity to prove yourself worthy makes you stand out. Markets are volatile and ever-changing, and entrepreneurs need to sharpen their focus and remain driven to make quick calls under pressure.
Understand your finances and your goals
Athletes—successful ones in particular—put a premium on their finances and their financial goals, thanks to some organizations’ emphasis on teaching the subject. Marcus highlights Goldman Sachs’ newly established Sports and Entertainment Solutions (SES) as an example. The SES recently implemented a financial fitness ‘playbook’ for a specific major sports league to educate players on financial planning and money management topics. By constantly learning it will help you reach your goals, or even surpass them.
Stay in the zone
Focusing on how to achieve the best results in the present will allow you to strategize on the steps to get it done. Entrepreneurs must follow in the footsteps of athletes in terms of mindfulness. Juggling other tasks and responsibilities is part of the job, but narrowing your attention will help you achieve what you need to do efficiently.
Leverage your competition
There may always be someone better and faster, but this should not intimidate you; rather, it should push you to mimic what they’ve done to become successful in your own unique way. Sports psychologist Nicklas Pyrdol says that pushing yourself to innovate, take risks, and challenge the status quo outside your comfort zone will allow you to see results that you may never have thought possible.
Talent and skill are always helpful, but grit is what helps you when these are insufficient. Psychologist and author of ‘Grit,’ Angela Duckworth says that those who are most successful have grit, which is a combination of self-discipline and the passion to remain committed and make it through every situation. Being resilient pushes you to keep on going despite a few losses here and there, seeing them as opportunities for growth instead of as setbacks.
Article made only for the use of makermag.com
By Audrey Fournier