With the 2024 Olympics behind us, the next games are scheduled for Los Angeles in 2028. For those spectators enthralled with the world-class athleticism, success seems to be determined largely by medal count (and media coverage). But did you know:

• Of the 212 countries with participants, according to ESPN and Yahoo sports, more countries participated without winning a medal (110-plus) then those who medaled (90-plus).
• Of the 10,500 athletes who participated, only 1,038 (less than 10%) medaled.
• After years of practice and dedication by these athletes, sometime just appearing in the games may matter most. Unfortunately, sometimes that is lost in the grandeur of the event.

Yes, the likes of Simon Biles, Katie Ledecky, and the U.S. Basketball teams reap the headlines—for good reason. But for the most part, Olympic athletes spend years training, often in anonymity, for that moment to reach the zenith of their sport.  For example, when the victor in a middleweight weightlifting class, or an archer, or canoe slalom, participates or stands on the platform to accept their gold medal and hear their country’s national anthem played, the emotion in the arena touches all those around.

As I enjoyed the games, I pondered how the lending, PE, and investing sectors are closer to the Olympic athletes than one may think.

Measuring Success

The lending, investing, and private equity professional success is usually measured by achieving revenue and profitability targets. And we often are only as good as our latest success. We are usually one lost deal away or one hiccup away from missing our objective. Yet, like the Olympic athlete, we continue to be hungry and drive forward. Put another way, we are only one successful completed loan or transaction, deal, or investment away from exceeding our targets and obtaining a large bonus and tremendous exposure—our gold medal if you will. Whether Olympic gymnast or financial professional or sponsor, there is a fine line between the thrill of victory and the agony of defeat and the pressures we face.

For the athlete like Julien Alfred from St. Lucia, carrying the weight of her country, she won their first Olympic medal ever, a gold in the 100 meter dash. Comparing to our world, say you are closing in on the end of your year, two of your deals are in the pipeline and ready to close. Your closest competitor puts in a late adjustment releasing a guarantee to the prospect. They get that deal, and you come in close, in second place. In your other deal you step up and win the deal. Your bonus is half what it could have been if your other deal closed. Was that a success? You have essentially won a gold and a silver, not a bad day at the office. But whether athlete or businessperson, it all depends on your perspective.

Both Individual and Team Players   

Lending and private equity are comparable to individual and team sports. Really! Completing a $1-million, $100-million, or a billion-dollar transaction takes tremendous coordination, experience, and teamwork. Think about the process. It takes the business development professional to originate, a deal team to write up and persuade, a credit team to assess, an audit team to monitor, a back office to process, and other teams to transact and evaluate for renewal. Outside lawyers, accountants, and consultants are also involved in the deal’s due diligence and assessment. There be as many as 30 people or more who touch the transaction. And if there are hiccups along the way, there are additional layers and touch points of involvement. To again use the Olympic analogy, all team members—including athletes, coaches, trainers, nutritionists, family members, etc.—have to be moving in the same direction to succeed.

We all see the athletes who run, swim, jump and do other amazing things. But who opened the gym doors at 5:0.0. am so the athlete can practice or train? Who created a boxing ring in the backyard?  Who raised money through bake sales and Go Fund Me pages? It is not uncommon for family members to work more than one job so their kids could raise their game from being an Olympic hopeful to an Olympic athlete. Even for athletes in individual sports or financial professionals with individual goals, it’s always a team effort.

Living for the Spotlight ... or Not

Like Olympic athletes, and generally all athletes and in our arena too, some people live for the spotlight. They are often the leaders of the organization who are extraordinarily successful and would not have it any other way. There usually are no wall flowers in leadership. They tend to be the focal points, and enabling the spotlight to shine bright is a significant foundation of their organization’s overall success. 

Others tend to be a little more below the radar. They have tremendous self-awareness and don’t tell stakeholders how successful they are because everybody already knows. I am reminded of when Mayor Ed Rendell of Philadelphia was in the spotlight. Many people attributed Philadelphia’s and Rendell’s success to the man who quietly managed the financial and operations aspect of the city, former Comcast senior executive David Cohen. The squeaky wheel gets the grease, but life is a long lesson in humility.

The U.S. men’s and women’s basketball and track teams are relatively household names. But do you recognize Sifan Hassan from the Netherlands or Armand Duplantis of Sweden? They were track and field gold medalists in the women’s marathon and men’s pole vault. How about Giovanni de Gennaro of Italy, the men’s gold medalist in the kayak singles? They might have been in the spotlight to a lesser degree, but they were no less successful, hardworking, and deserving.

So, the next time you feel like you are toiling in oblivion as you spread financial statements or are assessing borrowing base reserves, remember your part of that Olympic team-building success.