Why Tim Tebow and Michael Vick Will Lose You Money

I’ve never really been a fantasy football zealot nor have I ever joined a fantasy football league.   However, according to foxbusiness.com, Fantasy Football will now generate over 1 billion dollars in profits through cable deals, draft guides, advertisements, buy in fees, and various other endorsements.    While the talk at the water cooler can be a blast between office mates, Fantasy Football has now turned into a serious business all on its own.    And who does it really end up costing?    Not the people who put in $200 for a fun league to play during the course of the year.    It really ends up costing the business owners countless hours of lost productivity from the their employees.

It is estimated now that over 26,000,000 people across America spend more than one hour per week managing their fantasy football roster at work. (source: www.wrex.com).   As small business owners, we have to spend money and time designing our policy handbooks.   Over the years, there has been great focus within these guides to police activities at work that can cost a business owner money.  This means making sure your polices are in place so you don’t have people send or search pornographic sites at work, send jokes or you tubes that could be lewd, or in general blocking sites that would just be deemed not be work related.    Now I have worry about one of my employees doing a Victor Cruz dance in the end zone of their cube when he catches 10 passes and 2 touchdowns on a Sunday?

So, the question as a small business owner is should you toss out a penalty flag for your employees using company time to play and manage their Fantasy Football league?   Let’s be honest, it isn’t like most of your employees are working around the clock anyway.   Somebody is either answering a personal text on their mobile phone, shopping on Amazon, or figuring out where they are going to take their next vacation all on company time.   Certainly you want to make sure that it is clear to employees that gambling is not acceptable in any way, shape, or form within the office environment, but everything that creates a little fun and energy in moderation can’t be all that bad for your office.    Remember that most employees who leave a company generally cite management and the work environment as some of the top reasons that they leave companies over salary alone.

If I was drafting for fantasy football, I most certainly wouldn’t draft Tim Tebow or Michael Vick this year.  I think that is guaranteed loss of money in your Fantasy Football League.   Tebow may be a winner on the field, but not in the statistics category when you go head to head against other quarterbacks.   Just like people had to call an audible when Peyton Manning couldn’t play for a year, one shot to the knee and you could lose Vick for the entire season.   I guess as a small business owner, I’d rather spend my time drafting a fantasy team of talented players for my business who know week in and week out how to get the job done.  If you pick the right team in your office, you never need to worry about what side shows like Fantasy Football will distract them from doing their job.   The best talent will always know how to score a touchdown and you can take that to the bank.

Written by:

Ted Jenkin, CFP®, AAMS®, AWMA®, CRPC®, CMFC®, CRPS®

Co-CEO and Founder of oXYGen Financial, Inc – The Leaders in Gen X & Y Financial Advice and Services

Visit www.oXYGenFinancial.net to request a consultation on how to make smart money moves for your future.

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About the author  ⁄ Ted Jenkin @ Your Smart Money Moves

Ted Jenkin @ Your Smart Money Moves

Hey!

My friends and family all think I’m a workaholic, but I say I’m just a guy that loves to help people do better in life.

My mother is still the only one that calls me by my real name Theodore Michael, my wife calls me Teddy, but for the rest of you it is just plain old Ted.

Ever since I was a little kid, I always loved money and being an entrepreneur. In fact, I still have cassette tapes of me talking to my grandmother at the age of five and my mother tells me all the time how much I played with money as a kid...

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Ted Jenkin is a frequent guest columnist for the Wall Street Journal and Headline News Weekend Express. He is the co-CEO of oXYGen Financial. You can follow him on LinkedIn @ www.linkedin.com/in/theceoadvisor or on Twitter @tedjenkin.

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The opinions expressed in this commentary are those of the author and may not necessarily reflect those held by Kestra Investment Services, LLC or Kestra Advisory Services, LLC. This is for general information only and is not intended to provide specific investment advice or recommendations for any individual. It is suggested that you consult your financial professional, attorney, or tax advisor regarding your individual situation. 

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3 Comments

  • Avatar
    September 19, 2012

    Ted,

    As you know I’m a sports junkie. Though I don’t play fantasy football any longer and haven’t done so in a few years, I do love the activity of doing so. And when you are involved in it, it is addictive. Having said that, if I caught any of my employees surfing the web looking for last minute info on a player or picking up anyone on the waiver wires, or setting their lineups for the next week’s games or checking the scores of ongoing games while on company time(and for that matter checking out the latest online version of the Victoria’s Secret catalogue or the most recent Youtube video of the Dancin’ Cats or Surfin’ Granny or the Great White following the Luckiest Man Alive in Australia making it to the beach safely while unknowingly on his surfboard or checking their friend status on Facebook), I assure you the color of the penalty flag I’d be throwing at them would be colored PINK and they would be shown the door! Employees need to do this sort of mindless dribble -see the word for bovine excrement in the dictionary – on their own time, not during the hours I’m paying them to work! Great article. Look forward to reading them every week. Keep up the good work of educating us investors and business owners as well as you do. Frank Duffy owner of Duffy Realty….PS. Bench Jets QB Mark Sanchez if you have him on your fantasy team…he’s a bum!

  • Ted Jenkin @ Your Smart Money Moves
    September 19, 2012

    Frank,

    You crack me up and this is a great post! Thank you for your comment!
    And Yes, betting on Mark Sanchez is not a good idea!

  • Avatar
    The Sultan of Stats
    May 14, 2013

    Ted,

    Interesting article on fantasy football. As the fantasy football commish for the past 5 years of the Regular Guys Fantasy Football League, you are rest assured that we won’t be sending you any league invitations. Fantasy football is not considered gambling and is considered a game of skill and can be wagered on legally. If employees are productive, what does it matter if they are looking at fantasy football or anything else for tht matter? More time is wasted each year for people who set their brackets for college basketball march madness or those who take several smoke breaks each day, but fantasy football and fantasy baseball gets the bad wrap on worker productivity. At least the Regular Guys remain productive and competitive in fantasy football!

    Jeff Boggis
    “The Sultan of Stats”
    Regular Guys Fantasy Football League Commish
    http://RGFFL.com

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