Chad Price is an entrepreneur who translated his lessons from college football into a multi-million dollar exit from a Fortune 5000 sports startup, and is now coaching other startups on the keys to overcoming life’s challenges, unlocking your full potential, and building a successful business brand.
In this blog, we dive into inspiration from the locker room, kettlebells, and building a loyal community with GenZ and beyond.
10 Business Lessons We Can Learn from NCAA Football
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The Power of Teamwork
One of the fundamental lessons that can be drawn from the experience of team sports is the power of teamwork. These sports, known for their highly competitive and team-centric nature, offer an ideal setting for understanding the significance of collective efforts toward a common objective. It underscores the idea that achieving greatness often hinges on the collaboration of motivated individuals.
These insights remind us that while individual accomplishments are noteworthy, transformative achievements typically arise from collaboration. In various aspects of life, nurturing a strong sense of teamwork, where people unite under a shared vision and work cohesively, can yield remarkable outcomes.
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The Role of Leadership
Playing football not only taught Price about being a team player but also about effective leadership. He stressed the significance of leading and motivating a group of individuals to reach their full potential. Like a football coach, business leaders must inspire and guide their teams toward success.
In the context of entrepreneurship, leadership involves setting a clear vision for the company, providing guidance during challenging times, and creating a culture that promotes growth and excellence. Price’s experience serves as a reminder that leadership skills honed on the football field can be directly applied to the boardroom.
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Coaching as a Model for Leadership
Chad Price drew parallels between coaching in football and the role of a CEO in a business. He highlighted the coaches’ influence on him and how their guidance shaped his approach to running companies. Price noted that impactful coaching isn’t just about delivering motivational speeches; it’s about creating a culture and systems that drive success.
In the business world, CEOs often play a role similar to that of coaches. They set the tone for the organization, instill a sense of purpose, and help individuals understand their roles within the team. Effective CEOs, much like successful coaches, can rally their teams toward achieving ambitious goals.
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Building a Winning Culture
Price’s high school football experience was transformative, thanks to a coach who instilled a winning culture. He described how this coach shifted the team’s mindset, emphasizing unwavering commitment to a singular goal—the state championship. This commitment extended beyond the football field to encompass all aspects of the players’ lives.
Translating this lesson to the business realm, cultivating a winning culture is crucial. Business owners and leaders must foster an environment where employees are fully dedicated to the company’s mission and objectives. Just as Price’s coach made football the team’s sole focus, businesses must ensure their employees are obsessed with achieving company goals.
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Perseverance and Overcoming Obstacles
A critical aspect of both football and entrepreneurship is perseverance. Price stressed that his coach’s unwavering dedication to the state championship goal meant that anything or anyone obstructing that goal was swiftly dealt with. In business, too, there will be obstacles and challenges along the way.
The key takeaway is to steadfastly commit to your objectives, even in the face of adversity. Overcoming obstacles and staying resolute in your pursuit of success can ultimately lead to achieving your goals, whether on the football field or in the business world.
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Structured Discipline and Process
In various fields, including football and business, achieving success is not a matter of chance; it hinges on a well-structured approach and a disciplined process. Whether you’re a coach in NCAA football or an entrepreneur, it’s vital to establish a clear vision and develop a roadmap with tangible milestones to reach your goals.
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Recognizing the Less Visible Players
In football, not all players are as visible as the star quarterback or running back. The same applies to business, where not everyone occupies a highly visible role. The challenge lies in motivating and recognizing the contributions of these less visible team members. The interview highlighted the importance of building a strong brand that inspires the team to work together. When employees feel proud of the brand they work for, they’re more likely to feel like an integral part of the team, regardless of their role. Creating a sense of camaraderie can bridge the gap between the visible and less visible players in both football and business.
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Timing and Opportunity
The story of how one interviewee transitioned from being a student-athlete to starting a successful business is a testament to the importance of timing and seizing opportunities. In this case, the rise of social media and the absence of a strong online kettlebell community presented the perfect timing to start a business. It’s a reminder that sometimes the most successful ventures arise from recognizing and seizing the right moment. Moreover, despite being unfamiliar with it, the interviewee’s curiosity and willingness to explore a new field highlight the value of adaptability and continuous learning in entrepreneurship.
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Evolving Business Models
The journey of the kettlebell business, as described in the interview, is a prime example of how business models can evolve. Starting as a reseller, the company recognized the need to create its own product due to customer demand and quality concerns. This flexibility and adaptability to meet customer needs are essential for entrepreneurial success. It’s a reminder that a successful business listens to its customers and adapts its offerings accordingly.
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Preparing for Leadership
Lastly, Price discussed the importance of mental and emotional preparation for entrepreneurship and leadership. He emphasized the need to align your mindset with the business’s challenges and responsibilities. Additionally, he highlighted the significance of having personal affairs in order to handle the daily obstacles of entrepreneurship effectively.
The lesson is that personal development and emotional resilience are essential to effective leadership. Before venturing into entrepreneurship or taking on leadership roles, it’s crucial to cultivate the right mindset and ensure that your personal life supports your professional goals.
In conclusion, Chad Price’s insights from his journey in entrepreneurship, inspired by his experiences in high school and later NCAA football, offer valuable lessons for aspiring and seasoned business professionals. By applying these lessons, you can navigate the challenges of entrepreneurship and work toward achieving your business goals.