Golden State Warriors are a Blueprint for Success

[av_one_full first min_height=\’\’ vertical_alignment=\’\’ space=\’\’ custom_margin=\’\’ margin=\’0px\’ padding=\’0px\’ border=\’\’ border_color=\’\’ radius=\’0px\’ background_color=\’\’ src=\’\’ background_position=\’top left\’ background_repeat=\’no-repeat\’ animation=\’\’ mobile_display=\’\’]
[av_heading heading=\’Golden State Warriors are a Blueprint for Success\’ tag=\’h3\’ style=\’\’ size=\’\’ subheading_active=\’\’ subheading_size=\’15\’ padding=\’10\’ color=\’\’ custom_font=\’\’][/av_heading]

[av_hr class=\’invisible\’ height=\’30\’ shadow=\’no-shadow\’ position=\’center\’ custom_border=\’av-border-thin\’ custom_width=\’50px\’ custom_border_color=\’\’ custom_margin_top=\’30px\’ custom_margin_bottom=\’30px\’ icon_select=\’yes\’ custom_icon_color=\’\’ icon=\’ue808\’ font=\’entypo-fontello\’]

[av_textblock size=\’\’ font_color=\’\’ color=\’\’]

8 Things That We Can Learn From Their Approach

I have been fascinated by the Golden State Warriors and their meteoric rise to the top of the basketball world in one season. Without making major changes they have secured the best record in basketball, led the league in both offense and defense, and set many franchise “bests” in a whole range of categories (Wins, consecutive wins, point differential, three point shooting, etc…..). The way they play has brought me back to enjoying NBA basketball for the first time in years.

The quality of play in the league had degenerated so much that I just couldn’t watch. Most teams relied on the efforts of one or two stars that did most of the scoring on their own, with very limited passing. The Warriors brought back the team concept with everyone contributing and “sharing the basketball”. They also increased their defensive intensity and the amount of “help” they provided each other when playing defense.

Whether you are a fan of basketball or not, I think we can all learn some valuable lessons from this record setting season.

1. You can’t always count on offense. They say offense can have an off night, but great defense is there at every game. It’s the same with financial planning. If you focus only on your investments, you better hit a lot of “shots”. Playing defense will get you through the tough times in the economy, and still allow you to “score” and win when things are going well.
2. Balance leads to successful outcomes. The Warriors can score from inside and outside, on the fast break or in the half-court offense. Being personally successful includes health, work, play, friends, family, values, AND financial security. Too many folks emphasize one or two at the detriment of the others. I have never heard of someone on their death bed saying “I wish I had spent less time with loved ones and more time at work”.
3. The whole is greater than the sum of its parts. Because they are so unified in everything they do; from playing offense, defense and even enjoying each other’s company when not playing, they have elevated their game through the trust and communication they share. When married couples and families communicate over their financial and personal lives, I have found them to be much happier, healthier and far more financially secure.
4. The right coach can make the difference. For the past few seasons, their coach was able to break a long string of futility and got the team into the playoffs, but their success in the post season was limited and they didn’t enjoy home court advantage as one of the 4 best teams in the conference. This year they won a lot more games, and finished with the best record in either league, with home court advantage for the entire post season. The players were almost identical, only a couple of back up players were added to the roster, but the coach was different. Building your coaching staff can make a huge difference in how secure you are financially. There have been many studies reinforcing the difference having a financial advisor on your side can make. Better, calmer, more considered decisions and having someone to process with tend to lead to better outcomes.
5. It’s not just the head coach, but the entire staff that separates good from great! Their last coach did most of the direction of the team last year. He had some conflicts with the front office and hired coaches that had less experience than he did. Since he was relatively new as a coach himself, many folks said that he was worried about being shown up by having assistants that knew more than he did. This year’s coach hired the most experienced, veteran staff he could find, and let them focus on their specific area of expertise. A great offensive and defensive coach have made a huge difference in the team’s development and performance. Don’t try to become an expert at every aspect of your financial life. Concentrate on what you do well, because that is usually where you earn your living. Hire experts and build your team of professionals that will help you excel overall and achieve what you want.
6. Know when to fast break and when to slow things down. In past years they had a great fast break, but had real trouble in the half-court offense. This year they are able to play a number of styles and be successful. This lets them adjust their approach and succeed in a variety of situations. Most folks set a strategy that will work out fine, if everything goes as planned. During our lifetimes, the only certainty is that we don’t know what is going to happen. Successful plans consider the whole spectrum of possible outcomes and have a plan to deal with each of them. Even then you will be surprised from time to time.
7. The devil is in the details. A couple of months ago I was listening to an interview with this year’s coach and he was asked if he was able to work on everything he wanted to with the team. He said there wasn’t enough time to refine the finer points of what he wanted the team to do. He figured it would take a couple of years to do what he visualized for this team. That attention to detail has made a huge difference in the Warriors success this year according to what his players are saying. Paying attention to the details make a big difference in the long run. For example, just reducing the amount of tax you pay by a few percentage points or saving on your financing costs (remember, all purchases are financed!) can make a huge difference over your lifetime.
8. Success comes from preparation and planning. When the Warriors interviewed Steve Kerr for their coaching vacancy, he came to the meeting with many years worth of notes and plans he had assembled for everything from practice routines to style of play to candidates he had researched for his staff. He put this information together by talking with coaching legends, players (he was very successful as a player, winning 5 world championships), research on his own, and observing those around him. This preparation gave them the confidence to hire a coach who had no previous coaching experience! He ultimately set a record for most wins by a first year coach. The lesson here: research, visualize your objective, create plans, write them down and learn from every experience and expert you can. No matter how much you know, there is always more to learn.

So you could conclude that the Warriors have been a very lucky team this year. They kept their roster together, got a great coaching staff and have stayed relatively healthy this year. But remember this old saying “Luck is when opportunity meets preparedness!”Opportunities will present themselves from time to time in your life, if you want to be ready to get “lucky” when the next one comes around, contact us, and we can help you be prepared.

** Did You Miss This? **

I few months ago I wrote an article entitled Financial Planning and You: Three things we can all learn from Chris Borland’s Retirement. What can we all learn from this football superstar who recently retired?
[/av_textblock]
[/av_one_full]

[av_social_share title=\’Share this entry\’ style=\’\’ buttons=\’\’ share_facebook=\’\’ share_twitter=\’\’ share_pinterest=\’\’ share_gplus=\’\’ share_reddit=\’\’ share_linkedin=\’\’ share_tumblr=\’\’ share_vk=\’\’ share_mail=\’\’][/av_social_share]

[av_hr class=\’default\’ height=\’50\’ shadow=\’no-shadow\’ position=\’center\’ custom_border=\’av-border-thin\’ custom_width=\’50px\’ custom_border_color=\’\’ custom_margin_top=\’30px\’ custom_margin_bottom=\’30px\’ icon_select=\’yes\’ custom_icon_color=\’\’ icon=\’ue808\’]

[av_comments_list]