Dear Buffy,
I am currently enrolled in the M.B.A. program at the University of Miami and through their newsletter I came to find out about your company... I am very interested in the sports industry.
Sincerely,Sports Business Master
Dear Sports Business Master,
We have recently received many letters from MBA students wanting to get into the sports industry. I feel it's important to position our industry to MBA's and offer when the MBA degree becomes an asset.
I applaud any person who seeks greater education, and for business, an MBA is outstanding. The programs are hard to get into and provide the graduate a professional credential that society deems very valuable. The sports industry may well be the wild west where titles and degrees don't initially mean as much; performance means everything.
You remember, the dot-com frenzy provided many people the opportunity to jump into an industry and immediately make a contribution. The products and services would change daily, and people had to pour their hearts and souls into their jobs, make decisions fast and with limited information - always asking for money. The pace was frantic and the allure of "finding gold" we all knew was unrealistic. But we did it anyway.
MBA students, strapped with student loans, either rolled the dice in hopes for the big pay-off and now, exhausted, seek that same thrill, or they have settled into corporate American, one of say 400,000 employees guaranteed a salary, slotted on an org chart, and provided specific privileges and input according to their "level."
The latter route is safe, comfortable, and predictable. And the loans are paid off because the entry salary is high enough. If this is you, don't go into the sports industry.
The sports industry wants people who are risk takers, thoroughly committed to the lessons of "teamwork" and "competition" they learned as an athlete. Anxious to make a contribution immediately. To stretch to be their absolute best at whatever the cost physically, mentally and financially...for now. Executives in the sports industry compete for the payoff of having one of the most exciting jobs -- promoting live events -- where the product is unpredictable and ever-changing, you pour your heart and soul into building a great team, and if you are winners, if you are profitable, and if you contribute to that profitability, you get rewarded. We are tied to our on-field and front office performance. If you can't play the best, you have to sell the best.
Much like the dot-com world the sports industry is constantly seeking people who want to and can create revenue; build businesses. The obvious tools are selling tickets, corporate partnerships, media, new media. Are there more? We create joint ventures to use our employees to sell more live events - amateur and professional - airport signage, broadcast time and more.
So MBA students, although able to take a leap over the entry-level non-graduate school applicant, are not necessarily able to make that leap upon entry into the sports industry. They must prove themselves in the beginning just like any other renegades. Nevertheless, if the MBA student is truly better skilled, more knowledgeable, then the best always rise to the top and are and will be running teams, leagues, sports marketing businesses, etc. The degree plays well to the corporate sponsor boardroom where multi-million dollar decisions are made, and today owners tend to feel most comfortable if their decision-maker/negotiator was well educated. That's a strong reason why many leagues have been run by lawyers. Even the Commissioners have to generate revenue.
- Buffy
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Buffy Filippell has recruited over 350 executives in the sports industry. She has appeared as a featured speaker at Harvard Business School. Ask her any questions about employment issues by pressing Ask Buffy. No names, nor email addresses will be made public.
