Key preparation points before entering the realm of sports marketing

Tyler Tysdal knows all about how big a business the sports industry has become, especially over the past 30 years. While most consumers see the biggest names such as Michael Jordan or Tiger Woods as the main drivers of the sports business, it’s actually how they are being marketed that makes the difference. In fact, it can be surmised that the financial success everyone in sports is enjoying nowadays can be attributed to excellent sports marketing.

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But how does one prepare to enter the realm of sports marketing?

First off, Tyler Tysdal cites the need for a good education. A number of universities in the U.S. have programs geared specifically toward sports marketing. In fact, some schools even have extra-curricular orgs on sports business itself. This is a great way to get much-needed exposure and find some connections in the local sports scene, and to hit the ground running after graduation.

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Once a person has established his connections, he needs to work hard to maintain them. He may need to spend a lot of time in games or post-game affairs such as parties and the like to further deepen his involvement.

Tyler Tysdal notes that one of the most overlooked connections a person into sports marketing can make is one with the local government. Having a good relationship with local officials makes it easier to put up sporting events, promote games, and get permits for matches, where young, up-and-coming talent can be found.

Tyler Tysdal is the managing partner of Platte Management, leading the company’s investment efforts in several real estate properties in the U.S. These properties have primarily been in hospitality in hot markets, such as Manhattan and Seattle. To read more about the industry, visit this blog.

An overview of the integral steps in mergers and acquisitions

For better or worse, mergers and acquisitions (M&As) are a reality in business. People who have extensive experience in key positions of large companies are mostly familiar with M&As.
For this article, Tyler Tysdal, one such veteran in the business, shares some important information, as well as the integral steps in M&As.

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A lot of planning goes into M&As. Mergers are when two companies combine their resources to form an even bigger company. Acquisitions happen when one business buys another that’s up for sale. Many times mergers and acquisitions overlap, which is why they are often mentioned in the same breath.

For many business leaders, an M&A may signify the peak of one’s career.
M&As have several important steps that have to be accomplished before they’re completed. These steps include planning, strategizing, evaluation, valuation, negotiation, and the amalgamation of assets, which would either preserve or increase the value of companies.

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Planning comes first. Key figures come together to develop a strategy that would benefit the organization as a whole. This is followed by target screening. Through target screening, a company sends a team to look at companies that can either be bought or merged with. The third step sees the company evaluate and assess the target business. The findings of this evaluation and assessment will be discussed by the committee in charge of the M&A. If all agree to the action, the company now calculates how much the target business is worth for the proposal. Meetings occur after, wherein important points touch on management roles, corporate culture, goals, targets, and other issues. Finally, integration happens, which sometimes may take months to fully accomplish, depending on the size of the companies.

Tyler Tysdal is the managing partner of Platte Management, leading the company’s investment efforts in several real estate properties in the U.S. These properties have primarily been in hospitality in hot markets, such as Manhattan and Seattle. To read more about the industry, visit this blog.

Business discussion: The significance of hiring that first employee

How important is the first hire for startup owners? Tyler Tysdal explores one of the most significant steps when setting up a business.

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Hiring the first employee is by intents and purposes, a milestone for the business. As such, it has to be done right, since it will set the tone for future hires. For that first worker, owners should consider a number of things.

First off, what will the employee be doing? It should be clear from the onset if the first hire will be there for support or if they’ll be paid to do independent work. Another important question that business owners have to answer is the nature of the tasks that need completing. Will the employee be doing manual labor (i.e., fix up the office, run errands) or will they be required to meet up with potential clients to increase sales and further market the company. Being clear on these details makes the hiring process go smoother.

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Now, when business owners finally have a clear picture of their ideal first employee, Tyler Tysdal advises that the next step would be to be patient. There’s a chance that applications will come piling in. If that’s the case, owners shouldn’t immediately accept the first person to go through the door, no matter how attractive the resume of the applicant may be. Owners should remember that this is someone they’ll probably work closely with every day until the company expands.

Finally, background checks are also critical, and should never be skipped, Tyler Tysdal adds.
Real estate investor Tyler Tysdal is the Managing Partner of Platte Management, a single-family office with active investment strategies. He graduated from Georgetown University with a BSBA in Finance and received his MBA from Harvard Business School. For more business-related reads, go to this site.