The English Premier League football season kicks off in a few days and those of you who know me well know that with my wife and I hold season tickets at the Emirates Stadium, Arsenal’s home ground.
I was comparing in my mind the role their coach Mikel Arteta has been building in the last few years with that of a new business founder. There are many similarities.
Both require a clear vision. When you start a new business, you need to have a clear idea of what you want to achieve. You need to know what products or services you will offer, your target market, and how you will make money. The same is true when you take over as a football coach. You need to have a clear idea of how you want to play the game and what you want to achieve with the team.
Both require the ability to build a team. No one can start a successful business or lead a successful football team on their own. You need to be able to build a team of talented and dedicated people who share your vision. This means hiring the right people, motivating them to work hard, espousing your vision well and creating a positive and productive work environment.
Both require the ability to deal with pressure. There is a lot of pressure that comes with starting a new business or taking over as a football coach. You will constantly be scrutinised by investors, customers, fans, and the media. You need to be able to handle this pressure and stay focused on your goals.
Both can be incredibly rewarding. If you are successful in either of these endeavours, the rewards can be enormous. You can build a successful business that provides jobs and opportunities for others, or a profitable exit for yourself and others. You can lead a football team to victory and bring joy to the fans and plaudits to yourself, helping you gain a bigger role in the future.
Of course, some key differences exist between starting a new business and taking over as an EPL football coach. One of the biggest differences is the level of investment required. Starting a new business can be relatively inexpensive, but when coaching an EPL football club, the investment can be counted in many millions or billions of pounds.
Another difference is the timescale. It can take years to build a successful business, but an EPL football coach is expected to start winning games immediately.
Despite the challenges, both starting a new business and taking over as an EPL football coach can be incredibly rewarding experiences. If you are willing to put in the hard work and dedication, you can achieve great things in either of these fields.
Here are some additional thoughts on the similarities between founding a new business and taking over as an EPL football coach:
- Both require a passion for what you do.
- Both require the ability to take risks.
- Both require the ability to learn from your mistakes.
- Both can be incredibly stressful but also incredibly rewarding.
There is one further comparison that is worth drawing between the two roles.
In the case of an EPL coach, their board and the club’s fans can cause them to lose their job. Unless they have given up control of their business by raising funds for equity, few founders can be fired by their board, but they have customers. If these ‘fans’ don’t like what you are doing as a founder, they can fire you too!