As one of the AFL’s greatest players, Lance ‘Buddy’ Franklin’s legacy will be forever etched in the annals of the sport. But beyond the thrill of watching his athletic prowess on the field, business owners can draw valuable lessons from Buddy’s journey, both as a player and as a symbol of perseverance and adaptability.

Long term planning and commitment pay off

When Buddy stunned the sporting world by signing a nine-year deal with the Sydney Swans in 2013, many were sceptical about the longevity of this agreement. However,  Buddy’s decision to commit to a long-term plan with the club paid off. In the business world, this is a reminder of the value of strategic thinking and the rewards of sticking to a well-thought-out plan, even in the face of uncertainties. As business owners, investing in long-term goals and staying committed to them is essential, as success often requires patience and dedication.

Embrace adaptability and resilience

Throughout his career, Buddy Franklin faced numerous challenges, including injuries that threatened to derail his success. However, he consistently displayed strength, working hard to overcome setbacks and return to the field. In the business landscape, adaptability is crucial, as markets, technologies, and consumer preferences are constantly changing. Business owners must be prepared to adapt their strategies, products, and services to stay relevant and thrive in dynamic environments.

Surround yourself with the right team

 

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A post shared by Buddy Franklin (@buddy_franklin23)

Buddy’s Instagram post (above) with his two senior coaches, Alastair Clarkson and John Longmire shouting out his teammates and those that have been on this “crazy ride” highlights the importance of having a supportive and competent team. In business, success is rarely a one-person show. Building a solid and dedicated team is vital for achieving sustainable growth and navigating challenges effectively. By fostering a positive and collaborative work environment, business owners can create a culture that promotes excellence and supports individual development.

Legacy matters

As Buddy Franklin leaves the game, his name will forever be associated with greatness. As one of Australia’s most reknowned Indigenous athletes, Franklin’s impact extends beyond his on-field achievements. He has become a symbol of inspiration and representation for Indigenous youth across Australia. Buddy has been an advocate for promoting diversity and inclusion in sports. His success as an Indigenous player has sparked conversations about the importance of recognising and celebrating Indigenous culture within the AFL and across all sporting codes. His presence in the league has helped raise awareness of Indigenous issues and has encouraged greater cultural understanding and respect.

Similarly, building a lasting legacy in the business world is more than just about profits or short-term success. It involves positively impacting customers, employees, and the community. Businesses prioritising ethical practices, sustainability, and social responsibility are more likely to be remembered and revered.

Timing is critical 

Buddy’s decision to extend his contract by a year just before a significant loss in the grand final highlights the importance of timing in both sports and business. In business, strategic timing can make a difference between success and failure. Whether launching a new product, entering a new market, or making a critical business decision, being attuned to the right moment can significantly impact outcomes.

Similarly, in his retirement, Buddy demonstrated the importance of knowing when to call it quits as a competitor. After a stellar career spanning over a decade and accumulating remarkable achievements, Buddy recognised that his body and abilities were not what they once were. By making the difficult decision to retire, he exemplified a crucial aspect of successful entrepreneurship – recognising when it’s time to pivot or gracefully exit a venture.

In the business world, some entrepreneurs may find it challenging to step away from a project or business they’ve poured their heart and soul into. However, clinging to something beyond its prime can hinder growth and diminish returns. Buddy’s retirement serves as a reminder that recognising the right time to move on can open new doors for personal development and leave room for the next generation to shine.

Buddy’s retirement decision also showed the value of planning for the future. In the latter stages of his career, he likely considered life beyond football and took steps to prepare for his post-playing days. This foresight is something business owners can apply to their ventures. Preparing for transitions, whether retirement or handing over the reins to a successor, ensures a smoother and more secure future for the business.

Lance ‘Buddy’ Franklin’s retirement offers business owners valuable insights. From long-term planning and adaptability to building a supportive team and leaving a positive legacy, there are essential lessons to be learned from his illustrious career. As the business landscape evolves, these lessons serve as inspiration for aspiring entrepreneurs and established business owners alike. Just as Buddy Franklin’s journey has been a crazy ride, so too can running a business be unpredictable. But with the right mindset and strategic approach, entrepreneurs can navigate the challenges and achieve their version of greatness.

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