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Coaching a Football Team

by Tracey Hrica, EA Dec 07, 2019 | Share

My husband Ken is a die-hard football fan. So, about 6 or 7 years ago, I decided I wanted to get involved in fantasy football  so that I could share in his hobby.  You can say that I got hooked.  We both belong to multiple, year long fantasy leagues, and are addicted to Draft Kings…although Ken’s idea of a big bet is $.25, but that’s another story.  We’ve both made the playoffs in our main league, so there is a little less pressure making decisions on who to start or sit this week. That left me time for thinking this morning.

As I was thinking about football, and how our lives have changed this year as we have begun running our accounting firm ourselves, I stopped to consider how similar running a small business is to coaching a football team.  I decided to lay out the Game/Business similarities below:

Pre – Game 

  1. Research opponents
  2. Develop game plans
  3. Determine players and strengths
  4. Identify key factors – weather, field condition, readiness
  5. Develop specific plays – a game map

Pre- Business

  1. Research/conduct market research and analyze competition
  2. Build a business plan
  3. Find talent to execute the plan. Consult with experts if needed
  4. Identify key factors – investment costs, ongoing costs, location, structure
  5. Review and revise the business plan, as it’s always in development

During the game

  1. Coaches regularly make adjustment to put the team in a position to win
  2. They consult with assistant coaches to get further advice on plays

Day to Day

  1. Entrepreneurs regularly make adjustments to market changes and customer demands
  2. They consult experts to get another view, to help set them up for continued success

Halftime

  1. Coaches deliver halftime speeches to motivate their players
  2. They review what has happened in the 1st half and make adjustments

In Business

  1. Owners must motivate employees, including themselves.  By providing various benefits, they create a good working environment and productive employees
  2. They encourage and “rally” the team.  Even if they are the only one on the team!  Others have to take stock of each employee’s role and their importance

Post Game

  1. Coaches review footage to analyze plays of what did and did not work
  2. They look for improvements to be made in the next game
  3. They understand that it doesn’t end after one game or even an entire season

Every day

  1. Business owners set long term goals.
  2. They look at the numbers/financials to see the bottom-line results
  3. They identify ways to boost/improve profits
  4. They look at costs, products, and outstanding monies owed
  5. They review the “players” to make sure they have the right people to do the job

So . . . maybe it’s time to head to the “locker room” and debrief your business!  Now is the time to make any adjustments as we begin to wrap up 2019.  Know that we are always just a phone call away. Your “assistant coaches” await your call!

About the Author

Tracey Hrica, EA

Tracey Hrica joined the firm in 1995. She is an Enrolled Agent(EA), which enables her to prepare personal and business tax returns and represent clients before the IRS. Working closely with her clients, Tracey’s primary areas of concentration are new client set up and QuickBooks support. As a QuickBooks ProAdvisor, she works closely with clients who rely on QuickBooks for the day to day running of their business. Tracey has expertise in both QuickBooks Desktop and QuickBooks Online.

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