The ‘Business’ of Golf
By
Mike Gaul
Ron Deiter
Business Golf Reality
“Women, or men for that
matter, who are not
golfing are choosing to
neglect one of the most
powerful business and
career-development tools
there is.”
Hillary Bruggen
Quoted in Fortune (4-20-07)
“Must I Play Golf to Get
Ahead”
(Anne Fisher, Fortune, 4/20/07)
A survey of 1000 women golfers:
73% said golf had helped them
develop important business
relationships
50+% said being able to talk
knowledgeably about golf had
contributed to their success
Two things you need to know:
1) golf terminology
2) golf etiquette
Golf Trivia Questions
• Based on a recent survey of
business leaders:
Q#1. For each dollar they
spend on ‘business’ golf, what
is their estimate of the
‘revenue’ return?
Q#2. There is only one
place to conduct business
outside of the office that is
more effective than a golf
course. Where is that?
Introduction
Business leaders use golf as an
important tool in doing business and say
that it is extremely remunerative; for each
dollar they spend on golf they earn over
$1500 in business revenue as a result.
Further, only restaurants surpass the golf
course as an effective place to conduct
business outside of the office, with
hockey games, squash courts, tennis,
and night clubs placing distant third,
fourth, fifth, and sixth place respectively.
Not only is golf an important part of some
business cultures, but business leaders
say that it has set the stage of business
transactions.
(National Post/COMPAS survey sponsored by BDO
Dunwoody and the Canadian Chamber of Commerce,
2004)
Linking Up
“Companies spend billions of dollars on
sales training that helps people sell
across the desk, but almost none is spent
training people on how to build
relationships and sell in informal client
situations, such as during a round of golf.
It’s as if employees are expected to
simply know the right approach.”
“Too many people view a golf outing as a
day off rather than a day on. You have to
view it as a sales call that takes place
over a few hours in a nice environment.”
-
Bill Storer, a former AT&T and Lucent Technologies sales manager
Recently Published
Books on “Golf”
(available at Amazon.com)
Deals on the Green:
Lessons on Business and
Golf from America’s Top
Executives by David Rynecki
(Hardcover – April 19, 2007)
Golfonomics by Stephen
Shmanske
(Hardcover – April 2004)
How to Play Business
Golf
Some people cringe at the thought of playing in a
corporate golf outing. They worry that they will
embarrass themselves on the course, either by
playing poorly or by simply not knowing what to
wear, how to act, or even what to say during the
round.
The corporate golf event should be viewed as an
opportunity. Golf brings out your real character:
It tests your fortitude, your confidence, and your
humility. Your boss or client may not be
impressed with your golf swing, but they will be
observing your appearance and behavior. It’s in
this character-analysis game – not the one with
the clubs and balls – where birdies and bogeys
are really made.
A golf outing is actually a microcosm of the business
world. It’s no different from a job interview or a
sales conference. Be prepared. Know how to
dress, whom to tip, and what to say. Know the
rules of the game and, equally important, the
etiquette. Be professional, but have fun.
(Business Week, 6/24/02)
Golf ‘101 Topics
• Clubs
– Woods (2-4/set)
– Irons & wedges (9-11/set)
– Putter (1/set)
What do numbers on clubs refer to?
• Scoring
Par, Birdie, Eagle, Bogey, Double Bogey, Handicaps
• Dress
Proper Attire
Shoes
• Course Terminology
Tees, Rough, Fairway, Bunkers, Greens
• Golf Formats & Gambling
Scrambles/Best Shots
Medal play versus Match play
Common Games – “Skins”, “Nassau”, “Low
Ball/Low Total”
Terms – “Press”, “Carryover”
• Rules
Out of Bounds (OB)
Water Hazards
Lost Ball
Unplayable Lie
Golf Etiquette
“How to Behave on the golf
Course”
Wall Street Journal (4-7-08)
See ‘Golf Etiquette’ link on
home page for more
complete set of Do’s and
Dont’s.
Golf Quote of the Day
“If you break 100, watch
your golf.
If you break 80, watch
your business.”
- Joey Adams
Golf Quote of the Day
“Golf and sex are the only
2 things you can enjoy
without being good at
them.”
- Jimmy DeMaret
Golf Quote
“A bad day of golf beats a good
day of work any time.”
(Anon)
Life is Like a Round of
Golf
Life is like a round of golf
With many a turn and twist.
But the game is much too sweet and short
To curse the shots you’ve missed.
Sometimes you’ll hit it straight and far,
Sometimes the putts roll true.
But each round has its errant shots
And troubles to play through.
So always swing with courage
No matter what the lie.
And never let the hazards
Destroy the joy inside.
And keep a song within your heart.
Give thanks that you can play.
For the round is much too short and sweet
To let it slip away.
By Criswell Freeman
Golf Quote of the Day
“The game of golf is to
be played, not won.”
- In The Legend of Bagger
Vance
Business & Golf History
(1923) Lessons
Q. Identify the following people
from 1923 and what
happened to them:
1.
2.
3.
4.
5.
6.
President of the largest steel company
President of the largest gas company
President of the NYSE
Recognized as great wheat speculator
Recognized as great ‘bear’ of Wall St.
Won the U.S. Open & PGA golf
tourneys
Answers:
1. Charles Schwab, died broke
2. Edward Hopson, went insane
3. Richard Whitney, imprisoned
4. Arthur Cooger, died broke
5. Cosabee Livemore, suicide
6. Gene Sarazan, played golf to
age of 92, died financially
secure at age of 95
Conclusion:
Stop taking business and life
too seriously and start playing
more golf!!