Football and Business

Football Success and Business Success

Success for a football team is similar to that of a business. The NFL season starts with 32 teams - and at the end the top 2 teams play for the right to raise the Lombardi Trophy. There are some similarities with all Super Bowl champions. 🏈

The last two teams standing always excel in all 3 phases of the game - offense, defense and special teams. The same mindset can be said for the most successful small businesses: 💰

Offense
Defense
Special Teams

As we watch any given Super Bowl, one should be encouraged by seeing the results of excelling in all 3 phases of the game. Successful businesses should aspire to excel in all phases too.

As a CPA, attorney and MBA, Neeraj has learned a few things over the years. Hopefully, this page will help aspiring small business owners find success. Good luck!

Offense - the skilled positions

Offense - this is the sexy part of the team. The glamor positions are all on this side of the ball - the QB, the RB, the WR... and yes, even Taylor Swift's boyfriend 💋. Similarly, most business minded owners are drawn to this side of the business - you know a novel product idea, superior service, or some innovative engineering. Every business owner believes their product, service or process is the next big thing.

You build a football team around an offensive player. You build a business around a core product or service.

As a CPA and attorney, Neeraj sees many businesses from the very beginning because he actually forms the legal entity. Plenty of excitement at the start of any business. Truth be told, the excitement fades quickly - and hard questions are asked in year 2 of the business venture.

Defense - it wins championships

Defense - the football legends all preach the same thing. Even Tony Romo would admit to it - that defense wins championships. The defense doesn't usually get the credit that it deserves except of course, the 85 Bears 🐻. Similarly, business owners must be proactive in taking their product, service or process to market. Without effective marketing and awareness, the business will stall. And stall fast. Owners may believe in the product, but the true challenge is to get buy in from the market.

Your football team wins championships because of its defense. Your business turns a profit because of its attention to the target market.

As a CPA and an MBA, Neeraj sees the income statement and balance sheet of a variety of businesses. Top line growth will not happen without investment in the business. Knowing your target market and delivering to it is key.

Special Teams - cover the spread

Special Teams - neglect your special teams at your own risk. Bills fans know this all too well - wide right! Your best Monday morning quarterbacks will often say that the game turned because of turnovers, missed kicks 😭 or stupid calls. Field position is everything, and a horrible kicker could change the game plan for any coach. Similarly, small businesses owners must be mindful of all the ancillary things that get in the way. All the things that "employees" don't have to worry about. Owners have to be concerned with legal issues, human resources, , technology, and personalities with co-owners. Neglect any of the above, then the business risks implosion!

Your football team doesn't cover because of its special teams. Your business can fail at any moment if it doesn't pay attention to ancillary business risks.

As a small business owner himself, Neeraj knows that it is critical to be able to multi-task and think outside the box. Life running a small business is so different from being an employee of a large company. It's your mindset - and it's the ability to think outside the box which will lead to success. Good luck!

Strong ethics

Taxpayers are ultimately responsible for all the information on their income tax return. This is true regardless of who prepares the return. Having an ethical preparer will give you confidence on the content of your return. It is 100% better for all parties involved to place ethics as priority #1. Don't try to pull a fast one on the IRS.

Neeraj does not compromise one bit on ethics – always following rules to the “T” and expects clients to have the same mentality. No exceptions!

Shah LAW Firm, PLLC

Football Success and Business Success

Offense - the skilled positions

Defense - it wins championships

Special Teams - cover the spread

Tax Efficiency and Protect Personal Assets

Neeraj's hat trick 🏒 - CPA, attorney and MBA

Strong ethics

Neeraj Shah, Esq., MBA, CPA