Tuesday, July 7, 2015

Golden State Warriors' Championship Highlights Four Characteristics of a Successful Business

The guiding principles that helped the Golden State Warriors march to the NBA championship are applicable to any business. Four characteristics of successful businesses especially stood out throughout the 2014-2015 season.

A well-defined vision and strategy: The success began with the Warriors' management, including their head coach, who defined a vision and executed against the vision to build the team they believed would be successful. At the same time, they remained flexible and open to taking a calculated risk and making adjustments in their plan, which they did during their championship run. It's a great lesson for businesses today. To succeed, establish a clear view of where you want to go and detail how you plan to get there.

Unconventional, innovative thinking: The Warriors used an offensive strategy that many said could not win a championship. They combined it with a time-proven approach -- play great defense -- to produce the ultimate success in their industry. For business, this means finding the right combination of innovative thinking and best-practices that can produce success in the specific industry, market or situation.

Sacrifice and commitment for the good of the team: David Lee and Andre Iguodala, two key players who previously were starters, found themselves in different roles this year and asked to contribute in ways they hadn't before. They did so for the good of the team. They stayed focused. Both contributed in critical moments during the Championship Series, with Iguodala earning the series' Most Valuable Player Award -- ahead of established superstars Stephen Curry and LeBron James. It speaks to the importance of every individual being dedicated to the good of the organization, and being ready to excel in whatever role they play, whether in sports or in business.

Take advantage of lifelong learning opportunities: Steve Kerr was in his first year as the Warriors' coach, but you can say, in many ways, he trained for this leadership role his entire life. He initially wasn't highly recruited out of high school, but took advantage of every opportunity and played on teams that won NCAA and NBA basketball titles. He played for great college and NBA coaches. Kerr also served as an NBA TV commentator and was an executive with the Phoenix Suns for a period as well. All along the way he not only learned from his own success but also paid attention to others' success. He took notes, building a portfolio of basketball strategy and plays. He learned the keys to success and the commitment required that separates championship teams from the good teams. Understanding and committing to lifelong learning is valuable for people at every level of a business, and will pay off for the individual and the organization.

The Golden State Warriors' championship season gave their competition and business some things to think about. Factors contributing to the Warriors' success also can serve business, particularly having a clear vision and strategy, "thinking outside the box," focusing on the good of the team, and understanding that even the most accomplished individuals are always learning. These are traits that can help any business rise to the top of their game.

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