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For the very first time, the world witnessed the first all-black podium in women’s gymnastics Olympic history. Brazilian gymnast Rebeca Andrade joined Simone Biles and Jordan Chiles from Team USA at the 2024 Paris Olympics, where they were captured in an iconic photo showing the power of women of color in sports. This Olympics hit a groundbreaking milestone, with 50% of competing athletes being women and more than half of all medal events open to female athletes.
This year, many moments of diversity, equity, and inclusion (DEI) were demonstrated. So, what DEI lessons can we learn from the 2024 Olympics that entrepreneurs can apply to their businesses today? The short answer is quite a few.
1. Take care of your mental health
In the 2020 Tokyo Olympics, the world was stunned when Biles, the greatest gymnast of all time, dropped out because of the “twisties,” a dangerous break in the brain-body connection causing the gymnast to lose sense of where they are in the air. She took a step back and let her teammate, Suni Lee, perform and subsequently take home the all-around gold in women’s gymnastics — an achievement Biles was perfectly poised and expected to win. Biles taught us that no matter what the stakes are, your mental health should come first. How can you perform at the highest levels of business and entrepreneurship if your mental health isn’t in a good place? The answer is that you can, but it’s not even what the G.O.A.T. would do. If no one’s told you today, here’s your friendly reminder that self-care is not selfish; it’s productive.
2. Don’t be afraid to be the first
While some entrepreneurs dream of being the “first” to invent or discover something, others feel intimidated when finding their niche or area of genius in their industry. When faced with the daunting opportunity to be the first person to start or lead in a certain area, the fear of failure or high visibility might make some entrepreneurs squirm. Despite the nerves and fear that come with innovation, it’s okay to be “the first” in something and confidently walk into that arena with a bright idea. That’s what fencer Lauren Scruggs did at the Paris Olympics this year. She became the first Black American woman to win a gold medal in fencing, and I’m sure she was nervous. But she came ready to win and kept her eye on the prize. Entrepreneurs who are nervous about stepping into the space of being the “first” should take a deep breath and know why they’re there, then bravely step into their arena with confidence and focus.
3. Lift others up with you
As entrepreneurs, we wear numerous hats and fight for our business success. However much success we gained, we didn’t do it alone. We must always remember to give people their flowers and lift them up as we grow. For example, while running the preliminary heat 100-meter race, South Sudanese runner Lucia Moris collapsed to the ground in the heat of the day and was unable to get up and finish the race. As soon as fellow competitor Silina Pha Aphay from Laos finished her race and realized Moris was on the ground in pain, she stopped and ran back to make sure Moris was okay and offered comfort and support while waiting for the medical teams to arrive. The business world can often feel cutthroat and like every person is out for themselves, but the heroic and noble athletes at the Olympics remind us that as we grow, we must lift others up with us. We’re not winning if others suffer as a consequence.
4. Create value and set yourself apart
Like most athletes that go to the Olympics, the goal is to win, and they know winning requires them to stand out. Most athletes don’t get an opportunity to stand out when the other competitors are neck and neck with them. But Simone Biles certainly has. After having several gymnastic moves named after her, she reminds us all to be aware of what we contribute to our areas and how we can set ourselves apart by doing what others aren’t doing. Creativity and innovation are the name of the game, and exceptional athletes like Biles show how our creativity can inspire others in business and entrepreneurship to imagine more.
Final thoughts
When it comes to business, we all want to be number one and become entrepreneur of the year. But the best of the best in the world of sports can teach us a thing or two about how to get there. Lifting others up when they’re down doesn’t give your competitor the upper hand; it gives your competitor a compassionate hand. Creating value and being the first to do something sets a standard for others in your sphere to strive for more and reach higher, too. Finally, taking care of your mental health isn’t selfish; it’s one of the most productive things you can do for yourself and others. While the Paris Olympics have come and gone, the lessons live on. Let these lessons seep into your mind and business, and see where you go. Who knows, you might just get the gold.
