Business and Golf – Why Is It A Successful Combo?
/ February 20, 2019 Business Golf
FactsFirstly, conducting business when playing golf allows individuals to reduce communication barriers, which typically occur in offices or other business environments. As the players aren’t in a formal environment and not wearing a tie and suit, they tend to be more relaxed. It has been stated that ‘a good golfer makes a good business man/woman.” Here are some significant stats to highlight the successful relation between business and golf:
- Around 90% CEOs of Fortune 500 play regular golf
- Executives who regularly play golf earn an average of about 17% more as compared to individuals who don’t play golf
- 54% business men/women consent that golf is an ultimate networking sport.
- Majority of the golfers have a strong belief that the way an individual plays golf is the way in which they conduct business
Why It WorksThe idea of inviting a business partner or a client for a round of golf isn’t new. This has long been a tradition for many decades. Time spent with a client on the golf course enables you to get to know more about the individual you will be dealing with. Following are the benefits and reasons why business and golf work well together:
- Offers time to break the ice with a typical chit-chat and initiate more meaningful business discussions
- Creates a stress free atmosphere to freely discuss business
- Allows you to create a stronger bond with your client
- Provides you enough time to read and understand your client
- Gives you an opportunity to determine the ethics and integrity of an individual you want to conduct business with
- Offer you an opportunity to build trust