Hands up, who’s been watching Team GB in Paris?
Staff and customers here at Broxbourne Enterprise Centres have, and not just because one of our businesses (VOW Nutrition) are sponsoring our team of GB athletes out there. (Read more about that story here).
Our communal areas which have been screening the games over the past few weeks have been a hot spot for coffee and lunch breaks and conversations about the winners and losers, the weirder of the sports, and all of the wonderful stories of triumph and tribulation from the games so far.
There is a lot to be learned from the structured path that athletes follow, and the champion mindset required to keep going when things get tough. Founders and SMEs can also benefit from having a clear idea of where they are now, and what they are trying to achieve, and even a model that guides them through various stages of their business journey so that they don’t get stuck in comparison-itus or take onboard advice that isn’t appropriate for the stage that they are currently in.
So let Innovation Director Julie Creffield walk you through what she likes to call her “Champion Model”, which categorizes businesses into Bronze, Silver, and Gold tiers, provides a framework that mirrors the journey of Olympic athletes to inspire and drive SMEs to success.
Building Foundations (Bronze)
At the start of their careers, athletes focus on fundamental skills and building a solid foundation. They set basic goals, follow structured training plans, and consistently monitor their progress. This phase is about mastering the basics and developing a positive attitude towards training and competition.
We all have to start somewhere right?, and being honest with yourself helps you get those foundations in place, and manages your own and other peoples expectation and understanding about your capacity to perform.
This can be as simple as having a clear roadmap. They check progress against KPIs and milestones, maintain a positive attitude, and manage their emotions effectively. Just as athletes offer simple yet essential performances to meet initial standards, these businesses provide a straightforward range of products or services that meet clear demand. They rely on basic marketing strategies that bring leads and are open to exploring new avenues for growth.
This doesn’t always have to be about aiming for a bronze medal, but is instead about simply being a competitor and enjoying the ride.
Example:
Consider a local baker starts with a few signature items. By focusing on quality and consistency, they build a loyal customer base. Their marketing might be simple, such as word-of-mouth or local ads, but it’s effective in drawing in the community. They don’t need the accolades, a shop front, an investor…they just need folks to buy and enjoy their produce and to turn a profit.
Scaling and Specializing (Silver)
As athletes advance, they set higher goals and develop more specialized skills. They exhibit a growth mindset and integrate advanced training techniques into their routines. Their focus expands to include strategic planning and regular review of their performance.
Businesses in this tier start to aim higher, they start to believe they have a chance of really doing well and so mirror this by having high-level goals and strategic plans with regular review points. They embrace a growth mindset and incorporate practices to foster this mentality. These businesses offer a range of high-quality products and engage with their audience with clarity. Their marketing strategies become multi-channel and adaptive, ensuring consistent lead flow. They want recognition and so will celebrate hitting targets, and maybe even go after some best in category awards.
Example:
A tech startup that has moved beyond its MVP (Minimum Viable Product) phase and now offers a suite of software solutions. They’ve implemented a content marketing strategy, social media engagement, and email campaigns to attract and retain customers. Their competitors start to take note, and they have to up their game to keep their competitive edge.
Mastery and Innovation (Gold)
At the peak of their careers, Olympic athletes aim for mastery and continuous innovation. They have detailed yet adaptable long-term plans, supported by a team of advisors and coaches. They maintain resilience and a positive attitude, continuously seeking personal and professional growth opportunities. They are going for gold, but are under no illusion about how much of a challenge this is, and what it might take.
Gold-tier businesses reflect these attributes with detailed strategic plans, robust support systems, and an unyielding commitment to innovation. They maintain a strong online and offline presence, use data-driven marketing strategies, and have automated, multi-revenue sales systems. Their operations are highly organized and scalable, supported by a team of key members and advisors. They have a strong sense of vision, and are consistent in their efforts/
Example:
A global fashion brand that continuously innovates its product line, collaborates with influencers, and leverages data analytics to optimize its marketing and sales strategies. Their systems are automated, allowing them to scale efficiently and respond swiftly to market changes. They have their eye on exponential growth, new markets, and new ideas. It is almost impossible for others to keep up.
And so…
There are no guarantees at the Olympics, nor in the fast paced world of business…but there is no doubt that the games can inspire us, as business owners often know more than anyone how dangerous the myth of becoming an overnight success can be.
Being a champion, a winner, a real competitor takes graft and it takes a village (although maybe not one filled with cardboard beds) of support and expertise.
Founder of the modern Olympics Pierre de Coubertin is famously quoted as saying,
The most important thing in the Olympic Games is not to win but to take part, just as the most important thing in life is not the triumph but the struggle. The essential thing is not to have conquered but to have fought well.
And that is very much our ethos here at BEC with satisfaction rates among our customers at a whopping 98%, with our team striving to do their best each day.
As a SME or Founder, we can support you wherever you are on your journey towards business success, and welcome you into an environment that encourages winners. All we ask is that you embody a growth mindset, are open to receiving support, and that you become a cheerleader for the rest of the BEC community as they strive for their goals too.
If you would like to find out more about the spaces, events and support we have available to SMEs here at Broxbourne Enterprise Centres, do get in touch.
