Sports business: Why everyone still wants to be Michael Jordan

813d91c3-f7c9-4a20-9e7b-7e7b6da78941 — Image source: playbuzz.com

It’s been over 20 years since Michael Jordan’s last game in a Bulls uniform, and over 15 years as Washington Wizard. Since then, the NBA has seen a number of all-time greats such as the late Kobe Bryant, Shaquille O’Neal, Tim Duncan, Lebron James, Steph Curry, Kevin Durant, and James Harden. However, even with all that talent and even with the game being taken to new heights because of the internet and social media, most fans still want to be like Mike.

Tyler T. Tysdal explains that it’s more than just MJ being hailed as the G.O.A.T by over 90% of sportswriters, historians, fellow players, fans, coaches, and anyone who’s followed the NBA in the past decades. It’s more than MJ’s highlights and accomplishments, although those play a big part in everyone wishing they were Jordan. In fact, Tyler T. Tysdal believes it’s a lot more than MJ’s achievements in basketball.

Michael_Jordan_Net_Worth — Image source: thelegacyproject.co.za

Today, Jordan is still the most successful athlete, two decades after his glory days. More people still buy his sneakers than any other brand. So, not only was MJ the greatest to ever play on a basketball court, but he is and will probably be for a long time, the greatest brand ambassador and single-athlete business asset the sporting world has ever seen, Tyler T. Tysdal notes.

Tyler T. Tysdal is a Managing Director of BrandJourney Capital and Mantucket Capital. His investment background includes venture capital, buyouts, restructurings, hedge funds, real estate, public financings and several entrepreneurial ventures. For more articles like this, visit this page.

How to start investing in esports

Experts peg the average annual growth rate of the esports entertainment industry at 27.6%. Investments in the esports leagues, video game developers, teams, and businesses in this niche will reach around $1.6 billion by 2021. Looking at this explosive growth, esports should be a serious candidate as an arena of investment for entrepreneurs looking to cash in on the rise of digital culture.

The easiest route to investing in esports would be buying stocks of companies that are directly involved in the creation of games or the organization of esports tournaments. Activision Blizzard, the developer of bestselling games like Overwatch and Starcraft, and Tencent, the company behind Riot Games which developed League of Legends, appear to be safe investments.
380 million people all over the world watch esports and entrepreneurs can stand to make serious revenue by starting service businesses catering to this target demographic. Entrepreneurs can make digital content offerings for these esports fans or sell products for would-be esports players.
Finally, business investors who want to directly engage in digital sports entertainment can dip their toes in by starting a franchise team. The team can make money by winning prizes or earn revenue from streaming and product placements.
Esports’ promise may be more than an illusion at this point, considering how this industry is linked to the growth of the internet and video games. It’s worth a look for anyone who wants to get into the sports business but does not have the kind of capital for basketball, football, or big-league sports investments.

Tyler Tysdal is the Managing Partner of Platte Management, a single-family office with active investment strategies in private equity and real estate. Visit this blogfor related reads.

Fantasy sports and its connection to sports business

The sports industry is a massive one, according to TitleCard Capital. The common misconception is that the sports industry is merely composed of athletes, events, and organizers. However, sports, especially modern sports go so much deeper than that. From television and endorsement deals to merchandise sales, the sports industry has blossomed into one of the biggest areas for business.

TitleCard Capital explores a small niche in the industry which has been gaining a whole lot of momentum as of late – fantasy sports. Fantasy sports is a fun online activity that allows groups of people to assume the role of team managers and pit their teams against one another via computer-assisted analytics.

Most fantasy sports leagues last for an entire season, with the team having the most wins being declared the champion. Some groups of people play fantasy sports for fun, while others have pots which the winners would claim after the season.

Because of the ever-increasing number of sports fans getting into the thick of fantasy sports each year, this burgeoning niche has become quite the attraction. In fact, when the seasons start for the different pro leagues in the U.S. and abroad, fantasy sports platforms and their parent sites experience record number of visitors and clicks. That, in itself, is huge business, TitleCard Capital adds.

TitleCard Capital has an experienced management team with complementary skills and backgrounds that has brought the company success in prior ventures and investment funds. The firm’s core management team has worked together for several years. Know more about TitleCard Capital by visiting this page.

Common HR mistakes found in most companies

Every HR department of medium to large corporations often apply policies that make employees work more efficiently. These can range from monthly bonuses for reaching quotas to not being tardy for a whole month to reprimanding people from eating in their workstations. According to Tyler T. Tysdal, not all of these policies work. Some even backfire and result in downtime and poor employee feedback. Here are some common mistakes HR departments often make.

Relying on outdated handbooks

Companies that have been open since the ’70s or ’80s can run the risk of relying on outdated handbooks. Employee handbooks should be updated often to include new changes introduced by the government or even the sector the company belongs to. Such outdated guidelines could include rules on employee behavior, communication policies, benefits, and terms of employee employment and termination.

Failure to document performance

Salary raises, promotions, and even employee termination should be based on quantifiable metrics and not just by seniority and conduct. Some companies fail to document the performance of their employees, and this can lead to problems in terms of not knowing their overall effectiveness. As for the employee, performance reviews are good indicators for them to ask for better opportunities within the company and the corresponding compensation.

Image source: corporatecomplianceinsights.com

Inaccurate job descriptions

When other departments relay an opening to HR, HR needs to know the job description of the vacant position. There is nothing worse than inviting people to an interview with the job description, not matching what the actual position entails. According to Tyler T. Tysdal, if your HR makes this mistake, it wastes the time of the applicants, as well as company resources.

Tyler T. Tysdal is the Managing Partner of Platte Management, a single-family office with active investment strategies in private equity and real estate. Learn more about Mr. Tysdal’s work by visiting this page.

Some businesses that thrive on sports entrepreneurial know-how

In this digital age of faster internet (and easier access to it), it has become much easier to engage with sports fans, teams, brands, and athletes all over the globe. Established businesses are now reinventing themselves to cope with an online world, while new ones seek to establish a niche. In this blog post, seasoned sports entrepreneur Tyler T. Tysdal goes over some brands that have capitalized on using their business acumen on various sports.

Atlanta Braves

A good model for future market readiness and fan support is the Braves, whose management has invested in fiber networks, team-specific social apps, and a new, state-of-the-art stadium. This bodes well for the future of Atlanta baseball and for luring in huge ads to the team’s games, especially as the new amenities and luxuries allow for modern, most-welcome conveniences like 4K HD screens, on-demand ordering, and tailormade seat deliveries.

Alexa

The infamous virtual assistant of Amazon has now incorporated a Sports Update feature, allowing fans access to game schedules, real-time streams, and live score updates of the various major sports all over the world. This move makes it easier for sports fans to follow their favorite teams without shelling out money for exclusive passes.

StubHub

StubHub is keen on maximizing the use of newer IT technologies like virtual reality in the ticketing industry, its innovations fast becoming the standard for handling global sports events. Patrons now have access to upgrades on their StubHub ticketing app, from bulk reservation discounts to point rewards for regular customers and completely paperless transactions.

Nintendo

The Japanese company is leading the way in this new age of eSports by effectively taking games to the mobile platform with its Switch console. This move ensures that both casual and hardcore gamers have access to their favorite titles wherever they go, says Tyler T. Tysdal.

Tyler T. Tysdal is responsible for establishing TitleCard Capital, a private equity firm combining the power of athletes, artists, and industry executives to generate attractive risk-adjusted returns through investments in various companies. For related posts on sports and business, visit this blog.

Key corporate personnel: The CFO

The Chief Financial Officer or CFO is one of the central figures when it comes to the growth of the company. In fact, during a business expansion, the CFO is considered second-in-command, next to the Chief Executive Officer or CEO. Tyler T. Tysdal explains that the CFO is an expert in finance and a master at financial strategic planning toward the primary goal of growth for the business.

Over the years, CFOs have played some of the most important roles for some of the biggest global corporations. They are visionaries who see both the smallest details and the bigger picture. CFOs consider the state of the economy, industry, government, tax laws, and other factors that may have an impact on the business.

CFOs are tested the most and shine the brightest when a company hits its stride and experiences rapid growth. They plan for and keep up with the immediate influx of manpower needed to sustain the company, the sudden addition of products to the company’s brand, and other similar events. CFOs are also adept at planning exit strategies and adjusting these strategies for the best of the company.

Aside from helping the CEO build the company, the CFO also makes sure the cash flow is uninterrupted, investors, lenders, and key partners have a good financial relationship with the company, and key data is analyzed, among other things, Tyler T. Tysdal adds.

Real estate investor Tyler T. Tysdal is a firm believer in the importance of conscious capitalism and social impact investing. He has already received a lot of awards as a leader in conscious capitalist ventures. For more on Mr. Tysdal and his work, drop by this page.

The U.S. Open: A perfect example of the marriage of sports and business

Tyler T. Tysdal has seen a lot of business people succeed in the realm of professional sports. There are a lot of aspects of pro sports that offer lucrative returns. One such example of this is the U.S. Open.

One of the four prestigious Grand Slam tourneys of tennis, the U.S. Open is the last to be played in the year and is held in New York City. Now, each Grand Slam indeed has its own share of glitz and glamor, with Wimbledon being the true classic, the U.S. Open has been more geared toward business success. From American marketing practices to a more boisterous crowd to wall-to-wall advertisements, one can see just how much exposure a business can get in the U.S. Open.

Unlike most other tennis tournaments, when players step onto a U.S. Open court, they transcend being world-ranked tennis players and enter the realm of brand ambassadors. Huge logos of Nike, Adidas, and other brands can be seen embroidered on their apparel and footwear. And unlike in Wimbledon, the U.S. Open allows players to wear brightly colored designs, giving way to what can be seen as fashion, ultimately leading to higher sales in branded apparel.

It’s true. The U.S. Open, much like the Super Bowl, and many of America’s biggest sporting events are paradise in the eyes of sponsors and entrepreneurs, notes Tyler T. Tysdal.

Tyler T. Tysdal is the founder of TIVIS Capital, a private equity fund primarily focused on healthcare and media & entertainment and secondarily on real estate and construction services. His family founded sportakid.org, a donation drive for sports equipment. For more articles like this, visit this page.

Some of the best industries for starting a small business today

Today’s many small businesses are conceptualized by first-time entrepreneurs who already have experience in the type of business they plan to launch, having worked on a similar venture in the past and simply setting out on their own. But choosing an industry that has had a lot of success recently is a viable alternative, as this will cater to a new niche that older businesses have not yet fully addressed, explains businessman Tyler T. Tysdal.

One industry to consider is the internet marketing agency. Marketing is a must for every business, no matter the number of disruptive technologies coming into play. And solid web presence is key to business success these days. We suggest starting a web marketing company that can offer various strategies such as SEO, sports blogging, social media and email marketing, and webpage optimization.

Another trendy industry to get into is fitness. There has been a boom in in-home and gym fitness training in recent years, even as various health wearables are becoming widely available. You can put your money on a fitness venture that helps busy people have fun, de-stress, and improve their health, like a wellness blog, a walking and running club, a yoga studio, or a juice bar.

Lastly, there’s the world of apps. The rise of smartphones and tablets has led to the huge industry of app development. The keen entrepreneur should consider investing in the creation apps that catering to a preferred industry, from entertainment and gaming to software development and travel booking. Pretty much any industry that you can think of can benefit from a dedicated app which in turn can be incredibly rewarding to any startup, Tyler T. Tysdal adds.

Real estate investor Tyler T. Tysdal is the Managing Partner of Platte Management, a single-family office with active investment strategies in private equity and real estate. More on Mr.Tysdal and his work here.

Common and costly entrepreneurial mistakes to avoid

Being an experienced entrepreneur himself, Tyler T. Tysdal knows the inherent difficulties of being a business owner. There are countless pitfalls that could end up costing the company a lot. On that note, here are the most common entrepreneurial mistakes:

Late product developments

Many business owners put in too much time and effort into developing their product only to find out that it holds very little appeal to their target market. It’s much more effective to have a prototype in order to gauge target market reaction.

Not hearing the consumers

There are times where, out of excess belief in their products, eagerness and pride get the better of business owners. When this happens, they ignore consumer feedback. This has been the downfall of many businesses in the past. Customer feedback should always be a key metric in a business’s progress.

Slashing prices

The problem with slashing prices or offering discounts early on is that it’s oftentimes not sustainable. And when the business shifts back to their original prices, many consumers find them not worth their money.

Depending on family and friends

It’s always nice to have family and friends purchase products from your business, Tyler T. Tysdal notes. However, the mistake here is that entrepreneurs feel like having people of close relation as the client base would not reflect the real potential of one’s business. Veteran business owners sometimes “use” family and friends to market the business instead, which is much more effective.

Tyler T. Tysdal is both a private equity and real estate investor who sees a lot of promise in the hospitality industry. Mr. Tysdal is also a recognized leader in conscious capitalism and believes in the need for businesses to aspire for a positive social impact. Learn more about Tyler T. Tysdal, his work, and his advocacies when you visit this blog.

Why do so many entrepreneurs fail?

Business all boils down to numbers. According to the Small Business Association, 30% of all new businesses fail during their first two years. Among those which survived, 50% close down after five years. And of those who reach ten years of operation, 66% eventually fold up. Why, then, is failure such a common feature of business?

According to business investor Tyler T. Tysdal, while most business fail due to financial reasons, the pitfalls entrepreneurs face are also culprits. In some cases, business owners are not at fault for the failure of their business. But here are common reasons entrepreneurs fail:

Lack of Entrepreneurial IQ
There is a reason an educational background on business or a great deal of experience is a factor of success. EIQ is a general understanding of business situations. An entrepreneur who has low EIQ might overlook certain red flags in the assumption that operations are proceeding smoothly.

Insufficient resources
A good entrepreneur won’t stake the future of their business on today’s profit. A business that fails to expand eventually closes down. Moreover, expansion is never cheap. The lack of resources inhibits entrepreneurs from taking their business to the next level.

However, scarce resources are not always equivalent to lack of immediate funds. According to Tyler T. Tysdal, an entrepreneur can always be resourceful in seeking funds for their business. If they truly believe in their product, they always have an option to borrow funding from financial institutions or seek investors who can revitalize the business’ finances.

TylerT. Tysdal obtained his MBA from Harvard Business School and graduated with a BSBA in Finance from Georgetown University. His finance career began in investment banking with Alex Brown & Sons. To know more about Mr. Tysdal and his achievements, visit this website.