The Paris 2024 Olympics is now over, and we’ve seen incredible moments of triumphs, emotions, thrills, performances and inspirations that will stick with us. But there’s more to take away than just the medals and cheers. The real value lies in the mindset and strategies of Olympic athletes — traits that can be just as impactful in the world of business.

This edition will uncover how their journeys, filled with both victories and struggles, can offer you powerful insights and motivation for your entrepreneurial journey.

1. Discipline and Consistency:

Armand Duplantis, Gold Medalist in Pole Vault, Paris 2024

Armand Duplantis, the Swedish pole vaulter, is famous for his rigorous training schedule. Before Paris 2024, Duplantis followed a strict daily routine that involved technical exercises, building strength, and mental preparation. His hard work and determination paid dividends when he successfully cleared a height that had never been achieved before, resulting in him winning the gold medal.

Entrepreneurial Application: As an entrepreneur, implementing comparable discipline can enhance your business. The key to success lies in the consistency of effort, whether it’s sticking to a regular content creation schedule or keeping careful track of finances. During the initial phases of my startup, I dedicated myself to a daily schedule of concentrated effort on developing the product. This field of study resulted in the effective introduction of our MVP, which strongly appealed to early users.

2. Resilience and Failure

Caeleb Dressel, Gold Medalist in Swimming, Paris 2024

Caeleb Dressel encountered various obstacles before Paris, such as a major shoulder injury. Yet, his ability to bounce back, demonstrated in his intense recovery process and adjusted workout regimen, enabled him to win several gold medals. Dressel’s resilience highlights the importance of being able to recover from challenges.

Entrepreneurial Application: Setbacks are a guarantee in the world of business. After my startup’s initial product was unsuccessful, I followed Dressel’s approach by analyzing the failure, adjusting our strategy, and relaunching. What was the outcome? A product that successfully addressed customer requirements and greatly improved our income.

3. Teamwork and Collaboration

U.S. Women’s Gymnastics Team, Gold Medalists, Paris 2024

Sunisa Lee led the U.S. Women’s Gymnastics Team to illustrate the importance of teamwork. Even with their own abilities, their victory in the gold medal was achieved through flawless teamwork, with all members synchronized to achieve common success.

Entrepreneurial Application: Collaborative efforts frequently lead to the generation of the most innovative entrepreneurial ideas. For example, while working on a significant project, I assembled a team with diverse expertise who brainstormed ideas for a long-standing issue. The cohesive effort not only resulted in a creative solution but also enhanced the team’s unity.

4. Mental Toughness

Novak Djokovic, Gold Medalist in Tennis, Paris 2024

Djokovic is renowned for his exceptional mental strength. In Paris, he encountered fierce rivals and intense stress but stayed calm and won the gold medal. His mental readiness involves practices such as meditation, visualization, and a strong emphasis on keeping emotional balance.

Entrepreneurial Application: Entrepreneurship involves many situations with high levels of pressure. In an important fundraising round, I utilized Djokovic’s mental techniques, such as daily meditation and imagining successful results. This strong mental resilience aided me in remaining composed, making sound judgments, and ultimately acquiring the necessary funding.

5. Adaptability

Faith Kipyegon, Gold Medalist in 1500m and 5000m, Paris 2024

Faith Kipyegon demonstrated impressive flexibility by performing well in both the 1500m and 5000m events, adapting her tactics for varying distances and opponents. She received training that emphasized adaptable conditioning, enabling her to thrive in different situations.

Entrepreneurial Application: Flexibility is essential in business, specifically when market conditions shift. When the pandemic arrived, similar to Kipyegon, I adjusted by transforming our business strategy to prioritize digital services, leading to the sustenance of the business and the exploration of new opportunities for growth.

6. Goal Setting

Cole Hocker — Gold Medalist in Men’s 1500m, Paris 2024

Cole Hocker achieved his gold medal in Paris through precise goal-setting and strategic planning. Hocker’s approach involved breaking down his training into specific, measurable goals, focusing on incremental improvements in performance. His methodical preparation and clear objectives were instrumental in his success on the track.

Entrepreneurial Application: Just as Hocker set targeted milestones for his races, setting specific, actionable goals in business is crucial. In my company, we adopted a similar method by breaking down our annual objectives into monthly and weekly targets. This approach not only kept us aligned with our goals but also contributed to exceeding our revenue targets by 20% last year.

7. Focus on the Process, Not Just the Outcome

An San, Gold Medalist in Archery, Paris 2024

South Korean archer An San won gold in both the individual and team competitions at the Paris 2024 Olympics. She achieved success by dedicating herself to each shot, not the final outcome. An San’s victory was achieved by meticulously executing each step of her performance which included drawing the bow, aiming, and releasing with precision.

Entrepreneurial Application: In the business world, following a process-driven strategy frequently leads to optimal outcomes. Instead of solely concentrating on revenue targets, I prioritized improving our methods of acquiring customers. This change resulted in better customer satisfaction and retention, ultimately exceeding our revenue goals without any external help. Similar to An San, focusing on the journey instead of the destination can result in outcomes that exceed expectations.

8. Importance of Rest and Recovery

Katie Ledecky, Gold Medalist in Swimming, Paris 2024

Katie Ledecky’s rigorous training is balanced by her dedication to recovery, including sleep, nutrition, and mental rest. Her ability to manage her recovery was crucial to her gold medal performance in Paris.

Entrepreneurial Application: Entrepreneurs often neglect rest, but burnout is real. After a period of intense work, I implemented regular downtime into my schedule, inspired by Ledecky’s approach. This not only helped maintain my energy levels but also improved my decision-making abilities.

9. Visualization and Positive Thinking

Simone Biles, Gold Medalist in Gymnastics, Paris 2024

Simone Biles has leveraged visualization strategies to set her mindset and prepare for her routines in Paris. This practice helped her maintain confidence and focus, even under immense pressure.

Entrepreneurial Application: Before critical business meetings or launches, I visualize success scenarios, just as Biles does before her routines. This not only boosts my confidence but also helps me prepare for potential challenges, leading to better outcomes.

10. Commitment to Excellence

Viktor Axelsen, Gold Medalist in Badminton, Paris 2024

Viktor Axelsen’s journey to winning the gold medal in badminton was driven by a steadfast dedication to achieving excellence. His training consisted of dedicated attention to improving all elements of his game, ranging from footwork to strategy.

Entrepreneurial Application: In my startup, I foster the same dedication to excellence in each team member. The commitment to excellence within our organization has resulted in top-notch offerings and a devoted clientele, building a solid reputation.

What’s your takeaway?

While the Paris 2024 Olympics have ended, we still carry the enduring lessons of the incredible athletes with us. When I look back on my entrepreneurial experience, I can’t ignore the importance of their discipline, resilience, teamwork, and mental strength. These attributes are vital for individuals like us who are entrepreneurs, not only for athletes competing in the Olympics.

How about you? Which Olympic lesson do you relate to the most? It might be the commitment to remain concentrated, or the courage to bounce back from a setback. What is the process of integrating these traits into your business? Let’s have a conversation — share your thoughts, challenges, and grow alongside each other as we work towards our own objectives.

Hungry for more insights?

Subscribe to my FREE newsletter for exclusive tips, strategies, and stories every Friday. Join a community of driven Gen Z entrepreneurs like yourself who are dedicated to learning, growing, and achieving greatness.

Subscribe Now: Gen Z Entrepreneurship Guide

LIked this article? Get the visual guide (carousel) on these strategies I’ll share next week. Follow me, Tanish Shenoy Shenoy to stay updated and download or repost.

Want to learn more from my journey? Check out my course for actionable lessons: Learn from My Mistakes