Mayweather vs. McGregor – Lessons For Business
Floyd Mayweather fought Conor McGregor last night. Watching the two men maneuvering with fists and footwork, I couldn’t help but take away a few lessons for businessmen and women. (Even if we’ll never step in the boxing ring)
The fighters both remain calm before the fight, even with $100,000,000 on the line.
Their confidence radiates, even though they know one of them must lose before the night is over.
As business owners, we can learn to remain calm and confident like these fighters. We have much less money on the line, our losses are usually less definite and we have months to react and adjust to changing markets. (Not minutes or miliseconds)
The two biggest lessons are found looking at why McGregor lost.
1. Fighting Outside Your Area Of Expertise
Mayweather is the undefeated boxing champion of the world. McGregor is an MMA fighter. The two gentlemen fought a boxing match.
McGregor is clearly more comfortable in an octagon than a boxing ring. He threw a few illegal back-of-the-neck punches and at one point even looked like he was going for an MMA back mount. After a few rounds, Mayweather had him figured out, and went in for the kill.
A champion in his own field will beat a champion working outside his area of expertise. If the fight had been in the octagon with MMA rules, McGregor would have been the very likely winner.
The Lesson For Business: Compete in your area of expertise. You’re more likely to win.
2. It's Over Once You Get Tired
McGregor got visibly more and more tired in the later rounds. A great fighter once tired loses his edge. Great skill without the energy to apply it is useless.
Even after landing some good hits in the early rounds, McGregor's lack of stamina opened him up to the barrage of punches Mayweather used to end the fight in TKO in round 10.
The Lesson For Business: Without the stamina to persist, you lose, even if you hit a few early home runs. If your motivation and focus are drained, or the company bank account hits 3-figures, or if you suck profits out of your business leaving it no room to breath, you’re an easy target for hard punches from competitors, no matter how good your business plan. Like McGregor, your business will move slowly and barely have the stamina to hold a defensive position.
3. A Final Lesson – Choose To Fight The Big Fight
Mayweather is undefeated as a boxer, now 50 – 0. McGregor fights in the MMA and has lost a few fights, but he had the guts to challenge the undefeated Mayweather to a boxing match.
McGregor lost. Some would say it was predictable.
But McGregor still walks away with at least $30,000,000. Fighting outside his predominant style, his reputation doesn’t take much of a hit. A fighter at heart, his confidence remains high.