7 Things Fantasy Sports Can Teach You About Entrepreneurship

September 3, 2015

7:00 pm

It’s mid-November: you stare into your computer screen dejectedly after another Sunday has passed. Your big name draftees have all underperformed again. Your  season is over; the hole is too deep overcome. You sulk back into your chair, wanting to keep playing but knowing that hope is lost for the year. As the famous quote associated with the Brooklyn Dodgers said: There’s always next year.  

On second thought, maybe all is not lost.  As an entrepreneur and a fantasy sports fan,  I realized long ago that there is more than meets the eye with fantasy sports.  There are lessons buried beneath the wins and losses and numbers and teams.  

Lesson 1: Trends Are Hot – In fantasy sports, people play into what’s popular. The same can be said for entrepreneurial endeavours. Work alongside the marketing efforts of giants. When you see something that’s working in your industry-marketing wise- try focusing on and growing that effort.

Lesson 2:  Play to Win –  Practice makes perfect. Competitors will crop up no matter what you do. It’s your job to stay persistent and focused on making the best possible product for your customers.

Lesson 3.  Start Every Day Anew – Don’t worry about the bad game yesterday. Today is your chance at redemption. Wash your hands clean and get to work.

Lesson 4: Set Goals – Start somewhere; anywhere.  Try to get your team to reach certain levels and goals. Once they’re routinely reaching that, expand your goals.

Lesson 5:  Strengths/Weaknesses – Know your own. Know your team’s. Play to your strengths. Leverage your weaknesses.

Lesson 6: Create a Winning Team – It’s easy to attract top talent when you’re winning. However, it takes a true leader to attract talent at a startup especially when dealing with a limited budget. Use your energy and momentum to attract a winning team.

Lesson 7:  Outside Help – A good DFS team requires due diligence and your own intuition. Don’t be afraid to ask for outside help from a trusted individual or company to help you make progress you couldn’t possibly make on your own.

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Erik Groset is a lifelong entrepreneur with a passion for building, sustainable robust startups. He has spent the past 11 years building successful startups and helping others do so. All of that hard work paid off for Erik when, to his absolute delight, he was recognized by The White House and President Obama as one of the top 100 entrepreneurs under 30. Combining his love of fantasy sports and his business acumen was a no brainer when he teamed up with his brother to create Fantasy Sports Company.

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