February 2021 Newsletter

Looking for a Winning Business Model for Growth in 2021? Pick Your Favorite Sports Team.

by Tim Fulton

I've been a huge sports fan since my early youth. In 1970, at the age of 12, I purchased my very own season tickets for the Miami Dolphins. A full season for all of $14. That’s less than $1 per game. It’s hard to imagine how that team made money at those prices.

Over the last 50 years, I've remained an avid Dolphins fan along with an assortment of other college and professional teams. Celebrating their wins and agonizing over their losses, I cannot begin to imagine the number of hours a year I spend watching sports on television.

In all that time, I never looked at these athletic franchises as models for business growth. In fact, I often found myself screaming at their respective leaders for terrible decisions made off the field that impacted their team performance. I still lament the Dolphins allowing their best players, Larry Csonka, Jim Kiick, and Paul Warfield to go to the now-defunct USFL in exchange for nothing.

When I recently decided to examine these teams through an entrepreneurial lens, I was pleasantly surprised. I saw a number of great business practices that can be adopted by any growth-minded small business operator. Here are a few examples:

Talent Acquisition
Most sports teams, both professional and college, have aggressive talent acquisition programs. They don’t wait for the best players to apply for jobs as most small businesses do. They are always actively recruiting the best players. They hire talent scouts responsible for identifying and securing the best possible players for their teams.

These teams also don’t wait until they lose a key player to find a replacement. Because they expect to lose players over time, they continuously recruit.

Many small businesses are guilty of looking for the same talent in the same places over and over again. Professional baseball was that way before expanding its search capabilities into South America. Now many of the game's best players originate from those Latin countries.

Action Item: Do you have one person or one department whose sole responsibility is to proactively find new talent? Are you still looking in the same places for new employees or have you expanded your geographic footprint?


The Arete Coach Podcast
Hosted by Severin Sorensen
Thank you to Severin Sorensen for having Tim on the Arete Coach Podcast which seeks to explore the art and science of executive coaching. In this episode, Tim and Severin discuss the niche of high-quality small businesses. You can find out more about this podcast at aretecoach.io.

Join Us for a FREE Lunch!
Wednesday, February 24, 11:30 am 

Did you know...

• 88% of small companies have average to toxic cultures

• 90% of potential hires would not consider going to a company for higher pay if the culture is bad

• 67% of people believe that top management is to be blamed for bad work culture

Companies that live 3 balanced values have on average 3X faster revenue growth, 4x more profit per employee, and 50% better talent retention according to a study from Harvard Business School. Join us and find out how 3 values can supercharge your results, how to make it happen, and what the results will be if you do. Guest speaker John Waid is the CEO of C3, a boutique workplace culture and training/development firm. C3's international team is passionate about working with companies to define their 3 core values and practice them in daily behavior.

Registration is Free.
Donations may be made to the Solidarity Food Pantry (solidaritysandysprings.org) a community movement to help families in need that were being overlooked. You will have the option to donate when you register.
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Social media tip of the week:

Creating engaging content is one thing. Determining the best times to share that content is also key! Here are some of the best posting times for top social media platforms according to HuffPost:

●      LinkedIn: Tues - Thurs | 10 AM - 12 PM (PT)
●      Facebook: Thurs - Sun | 12 - 3 PM (PT)
●      Twitter: Mon - Fri | 10 AM - 1 PM (PT)
●      Instagram: Mon - Thurs | 11 AM - 1 PM and 7 - 9 PM (PT)
Please let me know if I can help you in any way.

Remember, small business does MATTER.

President & CEO
Small Business Matters
(678) 427-9436

"Dedicated to Increasing the Effectiveness and Enhancing the Lives of CEOs"