Why Tim Tebow and Michael Vick Will Lose You Money

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Why Tim Tebow and Michael Vick Will Lose You Money

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September 19, 2012

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.

Securities and Investment Advisory Services offered through NFP Advisor Services, LLC (NFPAS), Member FINRA/SIPC. Oxygen Financial is not affiliated with NFPAS. NFPAS does not provide tax or legal advice. This site is published for residents of the United States only. Registered Representatives and Investment Advisor Representatives of NFP Advisor Services, LLC (NFPAS) may only conduct business with residents of the states and jurisdictions in which they are properly registered. Therefore, a response to a request for information may be delayed. Not all products and services referenced on this site are available in every state and through every representative or advisor listed. For additional information, please contact NFPAS Compliance Department at 512-697-6000. PLEASE NOTE: The information being provided is strictly as a courtesy. When you link to any of the web sites provided here, you are leaving this web site. NFP Advisor Services, LLC makes no representation as to the completeness or accuracy of information provided at these web sites. Nor is NFP Advisor Services, LLC liable for any direct or indirect technical or system issues or any consequences arising out of your access to or your use of third-party technologies, web sites, information and programs made available through this web site. When you access one of these web sites, you are leaving our web site and assume total responsibility and risk for your use of the web sites you are linking to.

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Securities offered through Kestra Investment Services, LLC (Kestra IS), member FINRA/SIPC. Investment advisory services offered through Kestra Advisory Services, LLC (Kestra AS), an affiliate of Kestra IS. oXYGen Financial is not affiliated with Kestra IS or Kestra AS. Kestra IS and Kestra AS do not provide tax or legal advice.

This site is published for residents of the United States only. Registered Representatives of Kestra IS and Investment Advisor Representatives of Kestra AS may only conduct business with residents of the states and jurisdictions in which they are properly registered. Therefore, a response to a request for information may be delayed. Not all products and services referenced on this site are available in every state and through every representative or advisor listed. For additional information, please contact Kestra IS Compliance Department at 844-553-7872.

PLEASE NOTE: The information being provided is strictly as a courtesy. When you link to any of the web sites provided here, you are leaving this web site. Kestra IS and Kestra AS makes no representation as to the completeness or accuracy of information provided at these web sites. Nor is Kestra IS and Kestra AS liable for any direct or indirect technical or system issues or any consequences arising out of your access to or your use of third-party technologies, web sites, information and programs made available through this web site. When you access one of these web sites, you are leaving our web site and assume total responsibility and risk for your use of the web sites you are linking to.