What Businesses Can Learn About Success from the World Cup

Now that the World Cup has come and gone, I noticed that teams’ success characteristics are similar to company success traits. Here are a few:


Leadership – The teams that went far in the World Cup had inspired leaders. Argentina’s Diego Maradona, for instance, has not been coaching for long but his passion, energy and love for the game served as motivational tools for his players. Argentina's players seemed to tap into Maradona's energy and Argentina went far in the tournament. The same is true for leadership in business. A successful company is usually accompanied by an inspired and passionate leader who sets a positive tone for his employees.

Desire to Win & Never Give Up – Many of the World Cup teams were similar in ability. Many times, what made one team win was the “fire from the inside”. The U.S. team had this quality. Landon Donavon and the rest of the team had a "never say never" attitude that helped propel the U.S. to the next round. Businesses must also have a similar unwavering drive to succeed. Many companies recently have re-emerged from bankruptcy with good leadership to fight another day. The desire to win is necessary for long term company success.

Confidence & Enthusiasm – Ghana is a team that had the confidence to go far in the tournament. In many games, they were playing a country with technically better players and better overall records; however, they managed to level the playing fields with a collective belief that they could win. And despite the odds, they managed to advance almost to the quarterfinals. The same is true for small businesses. A business must believe in the idea that it can succeed in order to succeed. When facing any opportunity and/or problem it's the "I CAN" attitude that will help get a business to the next level.

Timing – The best teams knew when to strike and when to pull back and guard their leads. Germany is an example of a team that “went for it” when the timing was right (and scored sizeable leads), and retracted when necessary. Businesses that succeed know when to strike and when to be conservative. It's key for a company to understand good timing in order to maximize opportunities when available, but then guard its assets and retract when times are not so good.

Skill – The teams that went to the final rounds ultimately had some of the most skilled players (and the above characteristics). It is also important for businesses to have and deliver the best products in the most professional manner possible. For professional services businesses, the skills of the professionals should be refined regularly and new skills learned in order to stay competitive. Prior to this year's World Cup, only six countries had ever won this title. This year, a new country ( Spain ) has been entered among those prestigious ranks and added to the record books as a World Cup champion. Similarly, with the proper guidance, passion and expertise, there is always room for a new company to advance to the top.

SMB News Round Up: Failed Emergency Small Business Boost and How to Avoid a Tax Time “Train Wreck”

Every so often, I like to compile some of the latest news headlines in the small business sector. As always, there is no shortage of news to cover – since the SMB sector is the backbone of our economic recovery. This news round up post includes a number of stories regarding the America’s Recovery Act (ARC), as well as tips of how to avoid any tax time “train wrecks.”

An Emergency Small Business Boost That Fizzled
A stimulus measure crafted to get emergency funding to Main Street businesses has turned out to be such a flop that even its Congressional advocate wants the program killed. But for the 5,000 business owners who have jumped through all the hoops to land loans, even a flawed lifeline is better than none at all. The "America's Recovery Capital" (ARC) loan program was created as part of February's $787 billion Recovery Act. From the very beginning, the program struggled. Congress ordered the Small Business Administration to release guidelines for the loans within 15 days. Instead, it took four months. Read the full CNN Money article here.

Unsecured Small Business Loans—Will They Help Businesses And Unemployment?
Small businesses obviously need capital to run and maintain a certain standard of operation, and in the past unsecured small business loans have been a source of that capital. Also, small businesses are needed to combat unemployment and make more jobs available for those who are seeking work. The problem seems to be that if a small business is doing well, even in the face of a tough economy, just getting by or making a decent profit isn’t going to be enough for them to grow and expand their workforce. Bringing in enough money to pay expenses, employees, and maybe put a little away isn’t going to go to far in helping a small business create more jobs. That is where unsecured small business loans come into play. Read the full Red, White and Blue Press blog post here.

Small Firms Should 'Increase Their Website Presence’
As someone who has been advising small businesses for more than 25 years, there has never been a better, yet more challenging, time to start or run a small firm. The contradiction in that statement is deliberate. Better, because never has the playing field been so level - and challenging, because of the current economic malaise. Running a small business requires a skill set of extraordinary proportions, and it really is a miracle that so many survive, yet alone prosper. Read the full BBC article here.

Small Businesses Can Avoid a Tax Time Train Wreck
For some small-business owners, income tax filing season feels like a slow-motion train wreck. These are often owners who tend to be disorganized and unable to keep good records. Instead of keeping their companies' books with a small-business accounting program, they use a stack of overstuffed file folders or worse, boxes and shopping bags. They often end up spending hundreds of extra dollars paying their accountants to sort through the whole mess -- provided the accountants will even agree to deal with it. Read the full Salt Lake City Tribune article here.