The NBA playoffs are a high-octane, pressure-packed snapshot of the NBA season. All the trials and tribulations, the uplifting victories and crushing defeats during the season, boil down to the first team to win four games each series.
The business world shares similarities; the pressure is there, the expectations are there and unfortunately even with talented entrepreneurs, everyone won’t make it.
Entrepreneurs, pay attention to these lessons from the exciting end of the NBA season.
It’s a Marathon, Not a Sprint
NBA players walk a tightrope without a net all year long, crawling through a grueling 82 game season. Players have to prioritize, giving enough effort during the season to make the playoffs and then drawing favorable matchups.
Players in the NBA never want to start off hot and then stumble into a post-season series. For example, the Toronto Raptors started off the season well, but went on to lose 16 of their final 28 games. Toronto is currently down 0-2 to the Washington Wizards in Round 1 of the playoffs.
Entrepreneurs have to avoid the same pitfalls. They have to know the issues to chase and the issues to lay off of, balancing, prioritizing and always keeping the big picture in mind.
Try to begin each day going over personal and professional goals. This will allow time to refocus on goals and progress before work begins for the day.
Underdogs Can Win
The 2014 post season was proof underdogs in the NBA can make major waves when it matters the most.
Will this year prove the same? It’s too early to tell. With the Boston Celtics, New Orleans Pelicans, Toronto Raptors and Milwaukee Bucks all down 0-2, things need to change quickly.
If there’s something entrepreneurs can take from this it’s that pressure makes diamonds. The ability to perform in crunch time is what will define a successful business venture.
Know When to Turn Up the Intensity
Playoff basketball is so fun to watch because the intensity of each game is so strong. With the championship at stake, NBA players bring their very best out during the playoffs.
Entrepreneurs need to be able to bring out their very best during events like pitch meetings or funding opportunities. These big events should be practiced for and planned so that the entrepreneur is ready when the big moment arrives.
There Will Be Bumps Along the Road
It should come as no surprise that mistakes are going to happen. That’s part of the game in the business arena and the sporting world.
The key is avoiding repeat mistakes and learning from the ones you do make.
Basketball players and entrepreneurs need to know how to bounce back after a setback. The ability to apply wisdom gained from mistakes is imperative in preventing repeat occurrences of them.
Reflect on the process once a goal is reached will give you more insight for moving on to the next business opportunity or gearing up for the next NBA playoff push.