Grousbeck's Guide To Business Success
Wycliffe "Wyc" Grousbeck, managing partner, governor and CEO of the Boston Celtics, spoke last night in Worcester.
Wycliffe "Wyc" Grousbeck, the managing partner, governor and CEO of the Boston Celtics admitted that he and his partners never knew they were going to win last season. But with a solid plan, aggressive strategy, and talented people working around him, the team's CEO led the franchise to its first championship in 22 years.
Grousbeck, who spoke at a Worcester Young Businessmen's Association event at Worcester's Nativity School Thursday night, shared with the 120 attending businessmen and women the model that he followed to transform the team from a marginally competitive one in 2002 to world champions in 2008.
First, set an inspirational, audacious goal. Grousbeck named his investing company Banner 17 LLC to signify the goal of winning a 17th championship. "It reminds you of what you want to do," he said.
Second, assess the goal and determine what it's realistically going to take to achieve it. After purchasing the team, Grousbeck analyzed the previous 25 championship-winning teams to determine how he needed to change the Celtics. Essentially, it required bringing three all-star players together.
Third, build a team of the absolute right people for the job who believe in the goal. "There was good fortune to it," Grousbeck said, "but I had great partners, too. We hired very well."
Fourth, stick to the plan no matter what the public says. Grousbeck recalled "the dark times" when fans were criticizing both general manager Danny Ainge and head coach Glenn "Doc" Rivers, but Grousbeck stuck by his team. "We believe in Doc and Danny," he said.
Finally, don't be afraid to accelerate the plan if you can. To this ideal, Grousbeck referenced his decision to extended high-paying contracts to Ray Allen, Kevin Garnett and Paul Pierce. "Dig deep when you have to," he said, "even if it is above what you originally planned for."
And to the young Nativity School students in attendance, Grousbeck offered one more pearl of wisdom.
"If you find something that you really love, you're going to be really good at it," he said. "You'll go really far. They'll have a parade for you."
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