Congratulations to the Denver Nuggets for winning their first-ever NBA championship. They add to Colorado’s legacy of champions, joining the three-time Stanley Cup champion Avalanche and three-time Super Bowl champion Broncos. Championship sports teams - much like successful businesses - do not happen by mistake. It takes years of team building and even a string of good luck to achieve the pinnacle in your industry.

Watching the Nuggets throughout the season and playoffs, it is apparent to me that championship sports teams exemplify qualities and strategies that can be applied to successful businesses.

The Nuggets focus on building and creating a winning culture. Trades, draft picks, and team building were intentional to find the best cultural fit. Like the Nuggets, businesses should prioritize establishing a positive and winning culture that emphasizes excellence, collaboration, and continuous improvement.

Successful sports teams are typically led by strong and visionary leaders. The Nuggets have leaders and coaches who inspire, motivate, and guide their teammates and players. Similarly, businesses need strong, effective leaders who can inspire and guide their teams toward a common goal. Businesses should prioritize effective leadership and coaching, empowering managers and supervisors to support and develop their teams.

The Nuggets had a clear vision of what they want to achieve and develop strategies to achieve those goals. This was apparent dating back three-plus years and personnel decisions were framed around how to win a championship. Businesses should establish equally clear goals and develop well-defined strategies to reach them.

The Nuggets invest in scouting and recruiting top talent while also investing in the development of their players. Talent acquisition and development through the draft, trades, and free agency focus on organizational fit. Nikola Jokic was the 41st pick in the draft and was such an afterthought that ESPN ran a Taco Bell commercial during his draft announcement. Similarly, businesses should focus on attracting and retaining skilled employees and invest in their ongoing growth and development.

Championship teams understand the importance of teamwork and collaboration, knowing that no one player is larger than the value of the team – even if your team includes a two-time MVP and multiple stars. Businesses can model the Nuggets by fostering a collaborative environment, where individuals work together towards a shared objective.

Our NBA champion Nuggets have a diverse team with players from different backgrounds and skill sets. They embrace diversity and inclusion, knowing that an inclusive workplace often has better outcomes. Businesses should recognize the value of diversity and inclusion, fostering a workplace that embraces diverse perspectives and experiences.

The Nuggets define resilience and perseverance; they never quit when things got hard and despite setbacks and challenges, they didn’t back down. Instead, they learned, adapted, and continued to strive for success. Businesses should embrace a resilient mindset and view failures as learning opportunities, pushing forward even in the face of adversity. Businesses can be equally agile and adaptable in responding to market changes, embracing innovation, and staying ahead of the competition.

The Nuggets understand the unique strengths of each player and leverage them effectively. The team was stronger because they focus on individual strengths within a team framework. Similarly, businesses should identify and utilize the individual strengths of their employees, placing them in roles where they can excel and contribute most effectively.

The World Champion Denver Nuggets celebrate their victories and recognize the contributions of their team members. Businesses should also celebrate milestones and successes, acknowledging and rewarding the efforts of their employees.

Congratulations to the Nuggets and thank you for the business lessons throughout the season.

Chris Romer is president & CEO of Vail Valley Partnership, the regional chamber of commerce. Learn more at VailValleyPartnership.com