Lessons in Sustainable Business Growth
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Baseball & Business – Both Slaves to Numbers

Guest: Barry Waldman, Adjunct Professor of Communications, College of Charleston

Featured Topics: Business Metrics, Business growth, Long term business success, Return on Investment, Allocation of business Assets.

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Baseball and Business are driven by metricsWhat do Baseball and Business have in common? A whole lot.

Perhaps the biggest common denominator is that both are intimately tied to measurements and statistics of one kind or another. Having meaningful and reliable performance metrics is crucial in both baseball and business to the ability of managers and executives to make proper decisions.

In this episode of Don’t Get Stuck in Your Business we get ready for the end of the Baseball season and the upcoming playoffs and world series by discussing the commonality of baseball and business. We delve into how both baseball and businesses get stuck using improper measurement  or even outdated tools. This episode also explores the often necessary, but perhaps short sighted emphasis on the short term at the expense of long term business growth.

We also discuss how to utilize current business assets and how the Washington Nationals have effectively stop using Stephen Strasburg, one of their key players (business asset/employee) in order to insure his long term professional career. Would any business shut down a ‘hot’ money making employee? Is this really a good business move?

What baseball team could succeed without using statistics? Very few. It is interesting to note though, that in the past thirty years the historic measurement yardsticks of baseball success, pitcher’s ERA’s, batting averages and others have been shown to be less indicative of good performance on the field.

That’s a lesson that any business can take away from baseball. Not all classic business measurement yardsticks are good metrics and indicative of a strong business core. It’s important to always be refining the tools a business uses to measure and refine relevant business activity.

Terms/Concepts

Business Growth, business metrics, business core, return on assets, return on investment

The Big Picture (Episode Feature) Question

Does your business sacrifice long term business growth at the expense of short term financial or market share gain?

Featured Guest Information

Barry Waldman, Professor of Communications, College of Charleston
Baseball Blogger www.braindrizzling.blogspot.com

Tip/Offer of the Week

Conduct a review of what business metrics you use in your business to measure success. Do you rely too heavily on classic financial reports such as P&L, Balance Sheet or have you created more refined measurements that are more indicative of your business performance? When was the last time you added a new metric? How often do you evaluate and compare to previous periods?
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Joel Goobich is a big-picture guy with sharp insight into how individual parts make a strong whole. He has 30+ years of entrepreneurial endeavors; starting, building and exiting businesses. He is tireless in the pursuit of solutions to boost your business and put you on a track to a profitable transition and exit to your next act.