It’s that time of year where sporting events are coming thick and fast. From tennis, to golf, cricket, football and athletics, there is something for most fans. While for most of us sport is simply a hobby, there are some lessons the private wealth sector can take from these events.

Tennis

We will start at Wimbledon, with the tennis action from last week. The men’s final proved somewhat controversial given the players.

Novak Djokovic – who has been vocal about his views on Covid-19 and vaccinations – took on Nick Kyrgios, who is known for his aggressive behaviour on court.

Djokovic ended up victorious. But, what really stood out was the stark difference in their behaviour during the match.

Appearing calm, Djokovic remained composed and focused throughout the match. Meanwhile, Kyrgios was clearly agitated, shouting and arguing every time a point did not go his way.

There are two lessons to learn from this.

Firstly, we should not be afraid to take responsibility if we have done something wrong. Playing the victim or blaming someone else – like the women in the crowd who apparently looked like she had drunk 700 drinks – will not make you any friends or help you improve your own performance.

Leaders can admit when they are wrong and take steps to rectify their mistakes and improve.

Secondly, fireworks may be fun to watch. But, remaining composed and professional will serve you much better. Your own performance will be better and your team will be happier for it.

Cricket

It would be difficult to talk about sporting event lessons without acknowledged the unpredictable performance of the England men’s team recently.

The phrase ‘you are only as good as your last performance’ could not be more true of the England cricket team.

Having lost by 10 wickets against India on Tuesday, the team turned it round to win by 100 runs yesterday (Thursday).

This unpredictable performance may make exciting watching, but is something wealth managers should look to avoid.

Clients may enjoy the big wins – it would be hard not too – but they will feel any losses twice as hard. A more measured and consistent approach will likely prove more successful and lucrative for clients over the long-term.

Football

While headlines have been focusing on Raheem Sterling’s £50 million transfer to Chelsea (let’s just hope his performance is not as weak as his currency namesake…), the women’s Euros is in full swing.

The England team – the Lionesses – are performing incredibly well so far, having won their last match 8-0.

The lesson here is simply a reminder that women are strong and capable and can achieve great things. They may not go about it in the same way as a man would, but that does not mean it will not be as good or even better.

However, the Lionesses’ success has also prompted a raft of sexist and misogynistic abuse on social media.

Women still face barriers in everyday life and are not viewed as equals by everyone. As an industry, it is important the private wealth sector keeps championing female voices and role models to encourage greater inclusion.