Ohio Sports … Lessons to be Learned

So … as a lifetime Ohio sports fan, it has been a tough year. The Browns are rebuilding again, LeBron took his talents elsewhere, and now Ohio State football is in shambles. What can we take away for our businesses and our own character?

OK, OK, I am used to it … the kidding about the long drought of championships in Cleveland. The Drive, The Fumble … the Decision … locals are so used to being beat up, we feel like Jake LaMotta in Raging Bull. It is kind of like a group depression. The pain, the disappointment, the endless and hopeless optimism. They define the life of any Northern Ohio sports fan.

The games and personalities have taken a decidedly dark tone in the last few months. LeBron’s arrogance is indicative of today’s spoiled athletes. Jim Tressel (Ohio State’s former football coach) led us to believe that he was above the temptations to skirt the rules. His fall from grace has hit hard in Buckeye Nation.

These examples can teach us some lessons for business. Taking shortcuts around hard work and integrity is very common. Everyone seems to want to get the results without the effort. The pressure that today’s athletes and coaches feel is similar to what business owners feel. Investors, bankers, customers, and vendors can be WAY more demanding than a casual fan munching on a hot dog. The “game” of business impacts lives and people in a much more direct way than results on the court or field of play.

All of us have felt the pressures recently. All of us have cut back on expenses and people. All of us have to keep grinding away. Most of us are doing it the right way. Some are cutting corners on jobs, playing games with labor and materials, and manipulating schedules. Don’t be one of the corner cutters - you will pay sooner or later.

The rewards for doing it right can be huge. Just look at the Cleveland Indians. They have one of the lowest payrolls in baseball, but have the best record in the Majors. All of this without Charlie Sheen (fans of the movie Major League will get it). They built this team by grooming young talent, setting aside egos and working together. Sound like any glazing operation you know? If not, you might need a new game plan.

Predicting The Future During Tough Market Conditions

As many of us have been battered about by the market, we know all too well the demands and pitfalls of recession – falling margins, layoffs, financial concerns, collection challenges, and on and on and on. So, when is the right time to fire back up the growth engine?

The swings of economic cycles are a mystery. As the saying goes “if I could predict the market, I would be on a yacht in the Caribbean." Of course, I can’t, and either can you or all the talking heads on CNBC, MSNBC, etc. Another expression is that “people buy on greed and sell on fear." Now is the time to take on that fear.

The signs are pointing toward recovery. So, what are you doing to get ready to thrive? You still hunkered down ready to do all the same old things again? Good luck! You better get used to the new normal – tight margins, sketchy labor supply/quality, demanding schedules and more headaches.

I suggest that now is the time to pursue aggressively different ways to attack the market. Find new products to sell, new customer niches, new sales tactics, dust off old prospects and call, and rethink every portion of your operation. Have you evaluated your suppliers? Analyzed your employees to be sure they are ready to perform? Improved your estimating accuracy? Looked for partners?

Just don’t expect things to go back to the “good old days.” Those days are long gone. However, good days are soon coming. You just need to be better, faster and more competitive than before. Only you can know what works best for your business – just do something.

Next blog, I will share some of the things we are doing at FabTech to be ready. I welcome your comments.