Friday, 15 November 2013

Fantasy Sports and Business, an Unlikely Match

As I sit here trying to decide which players to play and who to sit on my fantasy basketball team, all while looking through entrepreneurial articles I have realized something strikingly similar to business and fantasy basketball. While they are completely different worlds, they have common fundamentals to a successful business or team.

Talent
A great business and a great team both require superstar talent. In order to maintain high level of play or a high quality of work, you need talent. Your business should strive for consistent players. A team who works hard day in and day out to produce a quality to its full potential are what ultimately make a strong and successful core.

Roles
Every business or team requires roles to perform at their full potential. Having 10 of the same role, and 1 of another does not work in either a business or team. By generating roles and placing talented individuals in those key areas your weak links have been reduced. Teams work together to produce an outcome, be it a new product or a W on the standings. In layman's terms, you don't go and get 10 scorers, if they can't rebound the ball. You need one person to rebound and one to score.
Having players who are relied on for a specific piece of work or stat is important, but one thing to consider is that you always need a back up. If "John" calls in saying that they're sick and can't come in for the week, you need someone ready to go to take over his spot. Planning ahead is important in both fantasy sports and business, it allows the team and or business to run like a well oiled machine.

Recruitment
Recruiting your talent for your roles can be tricky. Most of the time you may get overwhelmed by the pool of talent available to you. But every once in awhile you will find a sleeper sitting in the waiver wire. Someone who may not have the experience for the role or the degree, but has shown potential. There is no measurement for potential, it only comes from feel of meeting the person, or their demeanor. When recruiting a player/employee don't just look for that degree or those years of experience, but also take note of the persons drive. Does this person want to work for you, given the opportunity to play will they flourish? Some people like to prove themselves given the challenge and the opportunity.

Moral: Dont judge a book by its' cover because you might find a diamond in the rough.