Question

Topic: Strategy

Golf/business Strategy

Posted by Anonymous on 11/19/2007 at 7:07 PM ET 500 Points
I am putting together a program that is based on the similarities between great golf and great business. For instance in golf the rule of 80/20 exists; a golfer will use 20% of the clubs for 80% of the shots. You already know how it works in business. There are many other similarities like visualization; a great golfer can see the shot in his or her mind before they play the shot. In business we have to plan and forecast based on the information we know. A golfer, even Tiger Woods needs a coach, we do in business too!

My question is what the other similarities between golf and business are?
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RESPONSES

  • Posted by Susan Oakes on 11/19/2007 at 7:28 PM Accepted
    Although I am not a golfer here are some suggestions:

    Know your market; golfers will know all about the courses they play and a business must know all about the market they compete in.

    Select the right tools; golfers will elect the right clubs for the shot, conditions, course etc, business select the right marketing tools they believe will achieve the objectives in the current market environment.

    Know your competitors strengths and weaknesses to beat them in the competition of golf and business.

    Select the right staff; a good caddy is of benefit to a golfer as are the right employees to a business.

    Susan
  • Posted on 11/19/2007 at 10:15 PM Member
    This is more in line with a sort of tagline, but the message is still clear.

    Bogie: You're a step (shot) behind and need more practice on the green.

    Par: If your business is "par for the course," then you're just getting by.

    Birdie: You're one step (shot) ahead of the competition.

    Eagle: You've done your research and know your customers. Keep up the good work.

    Hope this helps.
    Kelly
  • Posted by SteveByrneMarketing on 11/20/2007 at 2:22 AM Accepted
    Tiger Woods talks about course management, which is like business management. The idea is to only assume the necessary amount of risk, which is the amount needed to win. Golf rewards the prudent aggressive player, but will penalize the reckless player. Both golf and business require good risk management to be successful.

    Know thyself and play within your game.

    Also, a golf saying is "never up, never in". I think this applies to sales. You can use extensive resources in the sales process, but if you don't actually close the sale it doesn't count.

    See you at the 19th hole,

    Steve
  • Posted by Jay Hamilton-Roth on 11/20/2007 at 6:46 AM Member
    It's mostly mental: it's just you and the ball/client

    The past doesn't matter: It doesn't affect your plan for the next shot/action

    There are more variables than you can see: you need to trust in your training

    The goal is clear

    The competition is transparent: you know everyone else's scores/stock prices

    Different clubs/tools for different needs

    Listen to your caddie/coach
  • Posted on 11/20/2007 at 11:08 AM Member
    In golf, as in business, you have to remember to enjoy the journey. Otherwise it's just a walk in the park, ruined.

  • Posted by Chris Blackman on 11/22/2007 at 9:42 PM Accepted
    You need a proper scorecard - one with the right metrics for your business.

    The scorecard simply shows the results, not how you played the game. It's the outcome, not the action.

    You need the right clubs (business tools) to be able to play.

    A good caddie (adviser, coach, consultant) can give you great advice and help keep you out of the bunkers and water hazards.

    If you keep hitting the ball the same way, you're going to keep putting it in the same place.

    All the other players are playing on the same course, with the same kind of clubs, and on the same kind of day as you. How come someone else keeps winning?

    In the eyes of the public, everyone starts from the same tee, and each has the same objective to get around in the least number of strokes, so anyone could win.

    As in life, one serious stroke can ruin your whole day.

    Hope that helps:

    ChrisB

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