Did you know that, on average, a professional sports team wins around ¾ of their home games?
Ask any sports team if the home-court advantage is real and they will happily confirm it for you, as well as tell you that same advantage can be put to work for your business.
Face the Denver Nuggets on the road, for instance, and they are nothing special. Face off against them at their Mile High stadium and suddenly they’ve got a 5280-foot home-court advantage that you have to overcome.
If a team like the Nuggets can face down the best in the NBA, just on the back of their home-court advantage, there is no reason your business can’t do the same thing.
The evidence for the home-court advantage isn’t just anecdotal either, there is some real science behind it. A recent survey by the prestigious School of Management at Yale University surveyed over thirteen thousand recently incepted businesses and found that business people that started their businesses in areas where they have extensive connections made greater earnings and had a reduced failure rate compared to those who started their business in previously unknown locations.”
On average, the study found that a business operated by someone located in the same area for five years made almost $6,400 more in yearly revenues and was 6% less likely to fold.
In this article, we’ll be looking at how you use your local home-court advantage to help you business flourish. Read more