It’s Nothing Personal, It’s just Business… (Paul George’s Injury)

Here’s my take on how Paul George’s injury might affect the NBA:

 

First off, the Indiana Pacers, the team that Paul George plays for, will be the most affected. They will lose their best player for possibly the whole year, and, on top of that, will still pay him his eight figure salary. Just recently, the Indiana Pacers received the Disabled Player Exception, which grants them $5.3 million to find a player to replace Paul George. Whatever player they secure in free agency, now, will not compare to the skill-set of Paul George. They will also be playing in a tough division where championship-caliber teams, such as the Chicago Bulls and the Cleveland Cavaliers, are in.

It’s rather unfortunate, as the Pacers, prior to the injury, were an elite team seeking an NBA title.  For the NBA league, the injury might affect them in a positive way: As repugnant as this may sound, Paul George’s injury has generated a lot of media discussion, providing the NBA with free publicity. In keeping with the proverb ‘all publicity is good publicity’, having people talking about you is always good. The undefeated boxer, Floyd Mayweather, espouses this view with, “Whether you like me or hate me, you’re still going to watch me.”  

Regardless of how Paul George’s injury will affect the Indiana Pacers and the NBA, we should focus on his health and how to improve players’ safety in the future–instead of financial gain. As Kevin Zimmerman, a SBNation writer, suggests, maybe we should just address a more important and immediate question as to whether there should be changes to safety regulations that could prevent future injuries, rather than discussing business.

But as much as we enjoy playing and watching professional basketball, let’s face it–being a billion dollar industry, professional basketball is nothing personal, it’s just business.

Which raises the question of how small businesses can garner their own free publicity. Many fledgling firms struggle initially to adequately advertise their brand–which is how many fail. Given the economic constraints many small businesses are subject to, their marketing departments are often overlooked and underfunded. However, Marc Davis of Investopedia.com lists 9 tips for getting free publicity for your business, and it, too, involves leveraging the media. Tips: Inform your local media hub of promotions or retirements, new products or services, renovations, company sponsorships or charity events, scholarship programs, product demonstrations, free services, contests, and special events. Furthermore, with the advent of social media, there are a myriad of opportunities.

It’s Nothing Personal, It’s just Business… (NBA players involved in FIBA and Olympics)

Congratulations to the USA Men’s National Basketball team for winning FIBA Gold this weekend. It brought back to mind the injury sustained by Paul George at the USA basketball scrimmage, reigniting the debate about NBA players being involved in international competition. Some claim that George’s incident is evidence that NBA players should not be involved because the risk of injury could cost teams and the NBA a lot of money. Some team owners believe the risk is just too high from both a basketball and business perspective.

Mark Cuban, the owner of the Dallas Mavericks, tweeted that NBA and players don’t make a dime, but that the revenue generated by them, all go to the International Basketball Federation, Fédération Internationale de Basket-ball (FIBA)and the International Olympic Committee (IOC). Further, Cuban claims that, “the greatest trick ever played was the IOC convincing the world that the Olympics were about patriotism and national pride instead of money…” All this might or might not be true, but Mark Cuban has open a whole new perspective.

It is true that the NBA players participating in FIBA World Cup and the Olympics don’t get anything in return. They play to represent their country and compete at the highest level to win, but they do make money for FIBA and the IOC. Money is generated by charging admission to games, selling merchandise, and other promotional incentives. This is where NBA player’s national pride becomes tricky. NBA teams whose players play at FIBA World Cup and/or the Olympics are at risk of getting injured at the expense of their teams. Those teams have spent a hefty amount of money on those players and since contracts are guaranteed, even if they get hurt, they are still obligated to pay them. Usually, player who play in those competitions are the best player on their team who each make roughly, $10-20 million per year. If one of them gets injured, it can hurt  a franchise drastically. Not only will a team pay a player who will not be playing for them, but also have team that is not very good. Having a bad team means fans are not going to watch, and when fans don’t watch, a franchise loses money.

 

Do Facebook Ad’s Even Work?

It’s actually pretty simple, Facebook advertisement works by allowing you to target specific demographics you want to reach. With a plethora of option to choose from, this allows companies to find the exact audience they want to reach. In terms of spending, you choose how much are willing to spend daily and how long you want to spend it.
You might say, great sounds easy, but does this actually reach out to people who potentially can give me sales? The answer is yes, and here’s why.

Facebook ads should be used because of its ability to reach a large audience. According to Kiran Ross from Kansas City Business Journal, “with 1.15 billion people worldwide using Facebook, it simply cannot be ignored as a platform for marketing and must be included in your digital strategy for 2014.” In today’s digital age, Facebook has the best chance to reach all kinds of people, from all kinds of backgrounds. This is all great, but to reach this audience one needs to have a strategy, a marketing plan. Just because you are advertising on Facebook doesn’t necessarily mean you are reaching out to the people you want. Here are a few tips that Cokey Falkow from meritusmedia.com suggested when thinking of strategies:

• What are your ads going to look like?
• Are you refining your audience features to reach an exact demographic?
• Are you tracking the results using Facebook insights once the people who do click the ad come to your website or Facebook page?

These are just some of the few things to think about when planning to use Facebook ads, but the most important thing is that you first come up with a plan before you actually spend money. With the potential that Facebook ads has, it simply can be ignored.