Did you watch the Olympic Games every chance you got? The Olympic Games are always interesting and fascinating, but for some reason more so this year than ever before. Try thinking of the Games as a business. There are many parallels.

Marketing Parallel

Try to imagine the components of a Business Plan. The Opening Ceremony of the Olympic Games in Beijing was spectacular. Zhang Yimou, a Chinese filmmaker, created a spectacle designed to present China’s new face to the world with stagecraft, pyrotechnics, fifteen thousand cast members acting in unison, and a narrative explaining the references in the ceremony to Chinese history.

It is reminiscent of an open house a business might have to celebrate the opening of its business or an anniversary of its opening. If a business has a history, it wants to impress its customers, employees, and potential customers with its lustrous past. An open house might be one part of a business’ Marketing Plan, an important component of its Business Plan. SCORE® counselors skilled in marketing assist businesses with their promotional and marketing decisions.

Finance Parallel

Another component of a Business Plan is the Operations section that includes a description of how the company will generate and spend its revenue. The Olympic Movement generated more than $4 billion in revenue between 2001 and 2004. The National Olympic Committees receive much of that money for the training and development of Olympic teams, Olympic athletes, and Olympic hopefuls. Businesses must have a plan for raising revenue and a budget for developing product and training employees and management. SCORE® can assist businesses with their budgeting, their human resource questions, and in the development of each section of their Business Plan.

Organizational Parallel

The Olympic Movement has a Mission Statement and they have built a Team that includes a Board of Directors and subsidiary organizations and sponsors. A successful business has a Mission Statement and a Team that includes an accountant, attorney, insurance agent, banker, and other advisors, such as SCORE® counselors.

Did you notice the parallels between the Olympic Games and your Business Plan? Is the face of your business reflected in your Business Plan? To make your business succeed, call the SCORE® office to set up an appointment with a counselor.

Jean Kruse
SCORE® Chairperson and CPA (retired)

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We continue to be available to assist start-up or existing businesses at 2750 First Avenue NE, Suite 350 (Map).  Our phone number there is 319-362-6405, extension 2005.

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