There are times in life and in business when a door that you didn’t even realize was there will suddenly slam in your face.
That happened Tom McCarthy when he was in a hotel room in China. He was about to sign a deal on behalf of his employer, a sports marketing company, with some high ranking people in the Chinese sports industry. His company was going to manage a series of basketball clinics in the country. Before he could put pen to paper, however, his employer called to say they had decided to pursue other areas of business and no longer wanted to do the deal. Tom hesitated only momentarily before turning around and opening another door even though he wasn’t entirely sure of what he would find behind it. He decided on the spot to start his own company in order to move ahead with the plan despite not having much money in the bank to support his end of the agreement. He came up with a name, Dynasty Sports Marketing, and signed the deal. With that commitment in hand, he went out and found partners to help fund the fledgling company. It was a risk, but Tom had learned how to calculate risks and move with changes at the same place he’s learned much about how to thrive in the business world – on the basketball court.
“You never know for sure what your opponent is going to do and you have to be ready for anything. And often, you have to take chances if you want to get ahead,” explained Tom, who played a year of college basketball while earning a degree at Boston College and coached high school and small-college teams. That first company successfully helped to make basketball a popular sport in China. Tom later co-founded the professional Chinese Baseball League and became the first American named to a Chinese government sports committee. He has since moved on to tennis and now runs Beijing International Group, which runs championships and clinics. Even though he gets out on the courts less these days, he’s still applying the lessons he learned, including:
- It’s all about team work. You have to work with other people. Even in individual sports, you need a trainer and a coach to help you do well.
- Develop a family atmosphere. The people around you become an extended family.
- Learn your game. Take the time to do research and be someone who is more a listener than a talker.
- It helps to be detail oriented. Know your numbers, know your business and stay on top of it.
- Keep in mind that you are not going to hit a home run every time and no one wins every game. The ones who make it are those who keep at it.
Tom McCarthy recently appeared on the
Language of Business, on the Business of Sports. Other guests included Joe Rosen, head of the baseball division of Orpheus Sports; Jay Fee of Nelson, Mullins Riley & Scarborough; and Dave Mingey, owner of the GlideSlope.
