Coaching Lessons from the Shark Tank

Inc. magazine’s Bill Murphy Jr put complied data from every episode of ABC’s Shark Tank, where entrepreneurs pitch their product(s)/idea(s) to the ‘Sharks’ in an effort to secure an investment for their company.

What he found was a list of ten things that he learned from this study (see Murphy Jr. Inc. article  — It’s a great  read!)

What I did was translate Murphy’s list for coaches:

1. “Your odds are as good as anyone’s”

Translation: Prepare for your chance…you never know if or when you will get it again.

2. “Bigger markets are better”

Translation: Appeal to as many people as possible — current players, alumni, recruits, parents, administration, support staff, etc.

3. “Don’t get too far ahead of the customer”

Translation: Focus on the present. Get better daily.

4. “Customer needs beat customer wants”

Translation: Remind yourself who your customer is. Provide what your team needs, not boosters/parents/individual players’, etc. wants.

5. “Don’t be ridiculous”

Translation: Set achievable goals for the season, practice, and for each team member.

6. “Focus on the customer, not on yourself”

Translation: Run a player’s first program — Be student-athlete centered.

7. “It’s hard to be trendy”

Translation: Be yourself don’t get caught up in the hype.

8. “Women are better customers than men”

Translation: Girls/women players are better listeners than boys/men.

9. Know your numbers…”

Translation: Know your player’s personalities, their strengths, their limits, their stats, and who your best combination(s) are in certain game situations and in certain times of the year.

10. “…but don’t nickel and dime”

Translation: Trust your gut.

 

If you have any additional translations, please leave some comments for others to read. Thank you for sharing.

Follow Bert DeSalvo on Twitter @CoachDeSalvo

 

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