Tag Archives: entrepreneurship

5 Trends That Are Driving the Business of Sports

““What’s the difference between a customer and a fan?” asked Vivek Ranadivé, leader of the ownership group of the NBA’s Sacramento Kings, during the keynote kickoff to Stanford GSB’s inaugural Sports Innovation Conference, held in early April. “Fans will paint their face purple, fans will evangelize. … Every other CEO in every business is dying to be in our position — they’re dying to have fans.”

While fan passion is as old as sport itself, leagues and franchises are now using cutting-edge technology not just to build winning teams but also to capitalize on the ardor of their customer base to grow another revenue source — corporate sponsorships. Here are a few of the business trends that emerged from the April conference.

Big data is changing basketball management — and the game itself
More than a decade ago, the Oakland A’s Major League Baseball team (and the book and movie Moneyball) popularized the notion of using statistics with predictive modeling to build a winning team. Teams in the NBA, such as the San Antonio Spurs, have similarly used big data sets to help owners and coaches recruit players and execute game plans. But the 2013-2014 NBA season is the first for all teams to have SportVU tracking, a system of six cameras in each arena that measures the movements of the ball and every player on the court, generating an entire database of performance information. “This is the first year we have more data than we can analyze,” said Ranadivé, noting that more data had been generated this season than in the league’s previous 67-year history.

The data are changing the way the game is played, shifting emphasis from how many total points a player scores to measures of player efficiency, productivity per touch, and defensive effectiveness. “It has been hard, historically, to quantify defense,” said Brian Kopp, senior vice president of STATS, the company that developed SportVU player tracking. “Now we have four camera views helping you do that.” In addition, the data have influenced the types of shots players take on the court.”

Read the full post here.

7 Things Entrepreneurs Should Do Before 7 a.m.

“Entrepreneurs are a unique breed of people. We like to do things our way and are known for our almost obsessive attraction to habits. But, there’s a good reason for that. Habits help us achieve our goals, keep us motivated, eliminates wasted time, and improve our lives altogether.

Arguably, the most important habit for an entrepreneur is their morning routine. After all, if you start your day off on the wrong foot, how productive, motivated, and focused are you going to be for the rest of the day?

To make sure that you start your day off on the right foot, here are seven things that every entrepreneur should before 7 a.m.

1. They’re wide awake.
Successful entrepreneurs like Richard Branson are known for waking up bright and early.

“I have always been an early riser. Like keeping a positive outlook, or keeping fit, waking up early is a habit, which you must work on to maintain. Over my 50 years in business I have learned that if I rise early I can achieve so much more in a day, and therefore in life,” explains the Virgin Group founder.

When you’re awake before 7 a.m. you have the time to check the news, gather your thoughts, or exercise. This prevents you from rushing out the door every morning feeling frazzled and unfocused.

Waking up early means that you have to stop hitting the snooze button by getting enough sleep each night – preferably between 7 and 9 hours. Besides ensuring that you’re an early riser, getting the appropriate amount of sleep improves your health, memory, learning, productivity, and mood. It may even help you make fewer risky financial decisions, reduce stress, and decrease fat and increase muscle mass with exercise.

Related: How I Run 3 Multi-Million-Dollar Companies While Getting 9.25 Hours of Sleep a Night

2. Avoid your phone.
This may sound crazy, but there a couple of perfectly valid reasons for not reaching for your phone first thing in the morning. For starters, placing it next to yourself throughout the night can interrupt your sleep because of the light the screen emits or the notifications that go off throughout the night.

Additionally, diving into your inbox or social media channels can be stressful and distract you from setting your personal priorities. Instead of setting your goals for the day, you’re frantically responding to an angry email from a client. That’s not the best way to start your day.”

Read the full post here.

Five Business Ideas for Pet Lovers

pet related jobs

If you’re the kind of person that loves animals and want to be your own boss, why not start a pet-related business? You don’t have to be a veterinarian to have an animal-related career. There is an entire pet industry that creates thousands of jobs ranging from food manufacturing to pet grooming and so forth. You can be a part of this industry too and live off your passion for taking care of animals. Depending on your interests and skill set, one of the following five pet-related business may be the one for you:

1. A pet sitting company
Much like a baby-sitting business, a pet sitting company provides professionals with the peace of mind knowing their furry friends are taken care of while they are away on business trips or busy at work. This is a great start-up idea mainly because it doesn’t require financial investment on your part. All you need are pet skills and with good word of mouth your business is sure to take off. Before you know it, you may have to hire other pet lovers like yourself to meet the growing demand for your services. Over time, you may consider getting pet-sitting insurance (yes, that’s a thing!) to protect your enterprise from a misfortune in case something were to happen to one of your pet-clients.

2. A professional pet grooming service
There are as many types of pet hair cuts as there are breeds of cats. Considering how furry pets are, you’ll never run out of business as a pet groomer! This undertaking will require you to invest both time in getting trained in professional pet grooming as well as money for your tools and possibly even space. You can provide services like hair trimming, hair cutting, bathing, etc.

3. A pet photography venture
If you have a pet, you know how much pet owners (or pet parents, as some would like to be called) love their pets. Pet owners want to capture the joys of having such a wonderful companion and cherish their memories for a lifetime. A pet photography venture would allow you to do just that. With the right photography skills and gear, you can turn simple moments like a walk with a dog into an image that pet owners can boast about to everyone they know.

4. A pet training school

This school can have curricula for different animals as well as have variations of full training programs in addition to more specific courses like obedience training. If you’re tech savvy and have access to a video camera, you can even create online courses with tips and tricks. This will bring traction to your training school plus help pet guardians deal with untrained pets who cannot otherwise attend your courses in person. Such a training school will do more than just train animals; it will also teach good behaviours to new pet parents that have had no previous experience with pets before.

5. Run a pet-related blog/website

Pet parents love to read up on pet quirks and stories so if you are passionate about writing and love animals, this may bring the big bucks for you! You can turn your blog/website into a hub and let your audience immerse in multimedia content all day, every day. The best part about having a website is that it has no geographical barriers so people across the globe will have access to your posts and you can make money by using ad services like Google Ads, etc.