Big three Takeaways:
1. Using a mission to drive decision making, helps build a culture. For Right Way, the mission is more than just creating better basketball players.
2. When coaching or running a team, don’t micromanage. Let players figure things out on their own as much as possible.
3. On pricing: Price your service at a level to attract the clients you want. In a services business, particularly coaching, you want clients who are serious about results and will put the work in.
Takeaways for Entrepreneurs
00:01:46 – The business started as something Mike decided to try over Christmas and March break, which worked well because he didn’t have to compete with basketball camps that typically run in the summer. Counter positioning in action.
00:05:50 – When you’re operating in a tight knit community, connections can go a long way, particularly when you do good work.
00:11:03 – How to build a business that can scale beyond you when you are the brand initially.
00:14:45 –Why excitement about getting back in the gym, team cohesiveness, and confidence are how Mike evaluates Right Way’s impact.
00:21:07 – A story of how the attention to detail of Carleton’s basketball program stayed with Mike.
00:26:08 – CHARDG - The core principles of Right Way Basketball.
00:41:26 – We’re all in sales, and a lot of Mike’s advice is useful to sales. 1: Don’t take rejection personally, be persistent 2: Observe more than you talk.
00:42:21 – Mike is wise beyond his years: He talks about pricing and gives a simple, but effective framework for pricing service-based businesses.
00:47:50 – Incentivizing staff is the hardest part of being a business owner.
00:54:58 – The concept I’m trying to explain and can’t remember is called is Ikigai. See link in resources below.
00:58:00 – The things Mike could only learn by running the business
Takeaways for coaches
00:17:40 – For coaches: The benefits of letting players coach themselves.
00:35:05 – Two things coaches in any sport should hear.
00:39:00 – What is piggybacking and why is it detrimental for player development?
More on my guest:
Recommendations, resources, and extras:
· Gregg Popovich – If you’ve never heard of him, this article is great, and there’s a lot to learn about coaching and life.