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Learning from the Olympics

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Learning from the Olympics

Olympic host cities follow a crisis trend. Cost overruns are a given, and budget often is simply a number from which to start. Panic over whether infrastructure will be completed in time usually starts at least 18 months before the games are due to begin. So it wasn’t a surprise when Rio de Janeiro organizers started to trumpet the same issues. Add the Zika virus into the mix and the country began spiraling down into socioeconomic collapse. In 2009, when Brazil won its Olympic bid, the country was in an economic boom. Now, Brazil is suffering its worse recession in 30 years.

Early stage companies can fail for countless reasons. In fact, there are so many moving parts to creating a business that there are almost endless ways to fail — lack of sales, insufficient budget and bad management included. However, there are lessons that entrepreneurs can learn from the Rio Olympics.

  1. Learn from the mistakes of others
  2. This is business. Don’t get emotional
  3. Prepare for the worst
  4. Consider changing things up
  5. Be realistic and stay realistic

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