What small businesses can learn from Olympic athletes

If you've watched any of the previous Olympic Games, you were no doubt moved by the athletes' determination, hard work and courage, regardless of whether or not they won a medal. Simply reaching the Olympics in order to compete is a huge achievement in itself.

You might be surprised to hear that small business owners can learn a lot from these competitors. Beryl Pettitt, founder of Ridgeway Marketing and Enterprise Nation member, shares six things you can take from the way our best athletes train, prepare and overcome setbacks on the way to meeting their goals.

Business inspiration from Olympic Games athletes

1. Get a great support team

So many athletes who have seen success have thanked the team they've built around them – coaches, physios, dieticians and so on.

Make sure you too have a great support team of specialists, and be sure to take their advice. It might be your accountant, a co-founder, a marketing agency you work with. Build a team of people who believe in you, understand your business and have the specialist knowledge that you lack.

2. Deal with setbacks and move on

If you read the stories of some of Team GB's best athletes, they've all had their setbacks. But they haven't given up – they've persevered.

Heptathlete Jessica Ennis couldn't compete in the Beijing Olympics in 2008 because of three stress fractures in her right foot. She had to retrain herself to take off for the long jump on her left foot. This didn't stop her winning a gold medal four years later.

All successful businesses suffer setbacks at some point in their life. If it happens to you, make sure you learn from what's happened and move on.

3. Understand that small changes can make a big difference

When the British cycling team was at its peak, many asked what was behind its success. The answer was performance director Dave Brailsford, who was described as having:

"…many qualities, from his eye for the small detail, or what he calls 'marginal gains' to an ability to appoint and delegate work to his team of experts".

We've mentioned the team of specialists (point 1), but the 'marginal gains' philosophy is also something we businesses can learn from.

It's often the case that clients want a 'silver bullet' to solve all of their marketing issues, but it's usually making small changes that add up to a big difference – from a different subject line in an email campaign to an adjustment to how you record and follow up on enquiries.

4. Co-operate with the competition

In the women's triathlon back in 2016, Lucy Hall led the swimming and cycling to set the pace and tire others so her teammate Helen Jenkins could save her energy for her strongest event, the running.

It worked to their benefit, with Helen finishing in fifth, despite having suffered an injury not long before the race.

All small businesses have competition, but sometimes we should consider working with our competitors rather than against them. By co-operating, you can win bigger projects, learn from your competitors' strengths and use your different attributes to build a stronger team.

5. Focus on your strengths

No matter what the sport, every athlete has their own strengths and uses them. Are you a heptathlete, built for a wide range of events, or is the long jump really your strength?

Focusing on what you do best (and getting help in your weaker areas) will give you the unique selling point you need to get ahead.

6. Don't forget the people who helped you – and give back

Despite winning gold medals, Jessica Ennis still turned out for her local athletics club in Sheffield, even though it was way down in the third division of its league.

When you've achieved success, don't forget your roots and the people who helped you, and be willing to aid others in the same way.

How to put together an Olympic-themed marketing campaign

An Olympic-themed marketing campaign is a marketing strategy that incorporates the spirit and values of the Olympic Games in order to promote a product or brand.

By launching this type of campaign, you're aiming to benefit from the global attention and excitement the Olympics generates.

Here's how you can develop an Olympic-themed marketing campaign for your small business:

• Align your brand or product with the values of the Olympic Games – like teamwork, excellence and fair competition. You can do this by highlighting stories of individuals or teams who demonstrate these values through their achievements.

• Make use of the Olympic symbols and imagery is crucial. Incorporating elements like the Olympic rings, the torch or athletes into your marketing materials can create an immediate association with the Games and boost recognition of your brand.

• Create engaging and inspiring content with high-quality storytelling. Use videos, social media campaigns and/or experiential marketing events that capture the Games' excitement and passion.

• A long shot – and not available to everyone! – but if the opportunity is there, try partnering with Olympic athletes or teams. This can be a very effective way to you’re your business and brand credibility and authenticity.

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