What I learnt by watching the Olympics

I'm an athlete from way back and an accident meant that I didn't have to face the reality that I wasn't as good as I needed to be to continue on with the sport.

Much has been written about the Olymipcs, and sport in general, and how it is a metaphore for life and to that end this piece is not any different.

Here's what my observations were from the recent Games in relation to business.

Back your judgement.

Sally McLellan (100 meters hurdles) when asked each time she raced the 100 meters hurdles what her goal was. She answered to run in the final. When she got to do that the question was asked again. Her answer you never know what may happen you just need to back yourself at the time. She didn’t win, but came second because she backed her judgement.

Information and ideas can be over analysed to the extent that when it comes time to implement things decisions are made for all the wrong reasons. Intuition and gut feel do play an important part in deciding when to walk and when to run in comparison to the rest of the industy or business area you are in

Be in position to be in position.

Ken Wallace (flat water kyak) in his first Olympics gained a bronze and gold medals. His comment having seen a replay of the Gold Medal race was I had no idea where the competition was, I was in the final and I knew I could be in a position to win if I was in the right position when the red bouys came by. I had a race plan and whilst I knew they (the competition) were there I had my own race to paddle.

In business you also need to be in a position to make use of your position. Knowing your competition is important but don’t copy them as you will always be behind and come in second. Have a business plan keep a close eye on it and the competition and be in a postion to make use of your position.

If you're not getting better …

I don’t know about you bit I’ve never heard an Olympic athlete say they have become satisfied with a certain level of performance and have put in place a maintenance program. If they did, the reality would be that their competition would leave them in the dust. It's precisely the same deal in business—if you level off, and your rivals don't, you will wind up losing ground.

What’s the point?

If you think like an Olympic athlete, it might actually make you a better buisness owner.