Lasting impressions from the Olympics

On August 15, 2012, in Money, by Justin Hooper

The Olympics are over for another four years and much like Sydney, we will be talking about it for many years to come. Exactly what made a lasting impression will be different for everyone.

There were many standouts from these Olympics and some provide good lessons both for life and managing money.

Obviously there is the Usain Bolt. Some will detest him calling himself a legend, others will smile at his take on life. All have to be impressed with his remarkable speed. The standout for me with regard Usain Bolt has nothing to do with him directly but rather with a discussion I heard on ABC in which the female South African 800 m runner who was forced to undergo gender tests (because she was being too successful and apparently had high testosterone levels). The point being made in comparison to Bolt was that although he is significantly taller than his competitors and has significantly bigger strides, no one complained. At what point do we simply accept how people are born and compete anyway?

On the topic of Usain Bolt himself – how much fun can one guy have? That has to be one of the real standouts is his ability to have fun even when under extreme pressure. He knows that his athletics is a means to an end – being a legend and having fun. Financial planning and money management needs to have life purposes as the final objective too.

Another standout for me was Sally Pearson. Apparently when she came second in Beijing she realised her possibilities. She created a clear vision, then a set of strategies over four years and together with an incredible focus and a trustworthy coach she never looked like being beaten.

What about Mo Farah? Here is a guy who went to England as a schoolboy refugee from Mogadishu in Somalia. He was given an opportunity for a better life and is now a hero in Great Britain. The commentators couldn’t stop saying that they had never heard a louder cheer for anyone in any stadium anywhere in the world. There can be no under-valuing of human capital and we should all protect our abilities and be very clear about the implications of voluntarily giving up our human capital.

Chad Le Clos the 20-year-old South African swimmer who beat Michael Phelps in the 200 m butterfly also provided an interesting lesson. In the interview after the race, he was like an excited teenager not because he had won but because he had raced his idol. “All I wanted to do was be in the next lane and race him” he said. “On the blocks I looked at him – but he didn’t look at me.”

Maybe we should all simply enjoy the participation and the challenge to ourselves – measure ourselves against the best but most importantly enjoy the growth.

I found myself watching all sorts of “crazy” events and staying up to all hours of the night. Sports which I have never watched before I was becoming an expert in – I’m sure it was just the enjoyment of something so different. Differences and diversification add value.

But the most lasting impression is probably going to be the way the games were organised. They had the wonderful British ability to organise big events whilst also having a flair and creativity that I have never seen at any Olympics before nor in many other British events. It reminded me again how planning well actually allows for creativity and freedom.

There are many more impressions and lessons from a wonderful two weeks but the most important ones for me are:

  • Know  why you are doing what you are doing,
  • Vision,  focus, good strategies and trusted coach help,
  • Human capital may be the most valuable asset of all,
  • Diversification is essential,
  • Planning and organisation allows for freedom, spontaneity and creativity.

I hope you enjoyed the games as much as I did.

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