What Tuesday Night’s NCAA Men’s Basketball Games Can Show You About Financial Advising
This past Tuesday night was a big night for college basketball as we saw four powerhouse teams play two thrilling games that painted the backdrop of an exciting rest of the year. The two games, which were Michigan St. (ranked #2) vs. Kentucky (ranked #1) and Kansas (ranked #5) vs. Duke (ranked #4), were star studded with freshmen sensations who did not disappoint. This freshmen class has been talked up to be the best class since 2004 when we saw Lebron James, Carmelo Anthony, Chris Bosh, and Dwayne Wade go in the first five picks of the NBA Draft. The Diaper Dandies, as Dick Vitale would say, are Andrew Wiggins from Kansas, Jabari Parker from Duke, and Julius Randle from Kentucky. Wiggins’ stat line was 22 points and 10 rebounds, Parker had 27 points and 9 rebounds, while Randle had 27 points and 13 rebounds. So let’s visit the lessons from Tuesday night in regards to financial advising.
1. Better Recruiting (Research) = Better Results:
These three young men were ranked the number one, two, and three best players to come out of high school for 2013. How did the coaches know they would be such a major success on such a major level? Research, research, research. It is impossible to know the amount of film and actual games each coaching staff from nearly every major program saw of each of these three phenoms. A team (be it basketball or financial advising) committed to planning and research is on the road to success.
2. Experience combined with talent is a winning formula:
If you caught the Michigan St. vs. Kentucky game then you saw that down the stretch Kentucky could not make free throws and had a few costly turnovers. The reason for this game’s particular outcome was experience. While, Michigan State returned 4 out of the 5 starters from a successful 2012/2013 team, Kentucky was led by four freshmen and one sophomore. A winning team (in basketball or financial advising) needs both talent and experience.
3. Depth Wins Games:
If you saw the game of Kansas vs. Duke then you saw a battle of stars playing against each other. This game was intensely anticipated as the sporting event of the moment as we saw Andrew Wiggins, the number one ranked high school recruit, vs. Jabari Parker, the number two ranked high school recruit. What you saw in this game was similar to Michigan St./Kentucky as both teams were just flat out great basketball teams, but what made the difference for Kansas winning the game in the end was the supporting cast that Wiggins had around him. Kansas won this game because they played an overall better team game than did Duke. When looking for winners (in financial advisors or basketball) look for the team with depth.
November 13, 2013
Authored by: Alex Jenison
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