By

Mike Gaul Ron Deiter

The ‘Business’ of Golf

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 BruggenQuoted 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 terminology2) 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?

IntroductionBusiness 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?

• ScoringPar, Birdie, Eagle, Bogey, Double Bogey, Handicaps

• DressProper AttireShoes

• Course TerminologyTees, Rough, Fairway, Bunkers, Greens

• Golf Formats & GamblingScrambles/Best ShotsMedal play versus Match playCommon Games – “Skins”, “Nassau”, “Low Ball/Low Total”Terms – “Press”, “Carryover”

• RulesOut of Bounds (OB)Water HazardsLost BallUnplayable 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 golfWith many a turn and twist.But the game is much too sweet and shortTo 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 shotsAnd troubles to play through.

So always swing with courageNo 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. President of the largest steel company

2. President of the largest gas company

3. President of the NYSE

4. Recognized as great wheat speculator

5. Recognized as great ‘bear’ of Wall St.

6. 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 lifetoo seriously and start playingmore golf!!