Business has been called the ultimate competitive sport. It is a venue that requires skill, knowledge, timing, and luck to be successful. Competitive athletics is an environment that teaches people how to work with others to achieve a common goal, overcome adversity, and that consistent effort over an extended period of time is a key component to achievement. When we assess potential, business buyers on behalf of our clients at IBA, we interview them and learn about their background. It is common for entrepreneurs to have a competitive athletic background. We have had recognized Pacific Northwest athletes including former Seahawks, Supersonics, Trailblazers, Mariners, Huskies, Cougars, Ducks, & Beavers plus a spectrum of competitive skiers, sailors, auto racers, tennis players, and golfers in our office looking at businesses represented by IBA as potential acquisition candidates. Many of these individuals have acquired privately held companies & family owned businesses through IBA and went on to have successful entrepreneurial careers.
We have also represented numerous entrepreneurs with athletic backgrounds in the sale of their businesses. These transactions have ranged from the sale of former NFL & Husky kicker, Jeff Jaeger’s sports bar in Bellevue, to the sale of the regionally recognized retail business, Second Ascent, for outdoor & extreme sport enthusiasts, Greg & Paula Shaw, in the autumn of 2014. Many of the characteristics that made these entrepreneurs successful athletes translated to the business world.
One of my favorite quotes from the movie, Moneyball, is the following:
“We’re all told at some point in time that we can no longer play the children’s game, we just don’t… don’t know when that’s gonna be. Some of us are told at eighteen, some of us are told at forty, but we’re all told.”
This quote resonated with me given my athletic background as it is true whether you were a high school quarterback or Brett Favre. We all must hang up our cleats eventually and transition to the next chapter of our lives. I encourage people with athletic backgrounds to consider entrepreneurship as a profession. I anticipate you will find the return on your effort will have significant upside benefits in terms of personal development, freedom, and financial remuneration.
IBA, the Pacific Northwest’s premier business brokerage firm since 1975, is available as an information resource to the media, business brokerage, and mergers & acquisitions community on subjects relevant to the purchase & sale of privately held companies and family owned businesses.