YOLANDA JARAMILLO INTERVIEW
Yolanda has worked at Euroleague for over 20 years and is now the Chief Financial Officer of what is arguably the top-tier men’s basketball league in Europe.
DG
Due to your position in the EuroLeague and because of my position in sport and football, many times there are people, and students, wanting to change their careers and they will say, how did you become a football Lawyer? How did you get into working within sports? How did you manage to do this? Because I love football or, I love films or, I love music, or I love fashion or, art or, all of these sectors, which I think a lot of people feel very passionate and strongly about, and that they can combine their passion or, their curiosity with their job.
One of the things that I’m trying to speak to people about, and then start writing about, is to try and speak to people in the entertainment industries that I work with and that I have a lot of respect for, because I think they're doing such a fantastic job. I’d like to be able to understand a little bit of your path and your journey, but also to understand, was it something that you always wanted to work in? How did you go about doing these things?
YJ
Well, I have to tell you that my job in the EuroLeague was a little bit by chance. By chance I mean, I was in my last course of Esade, which is one of the main business schools here in Spain. I had my degree in business and economics, after that I did my MBA at Esade, and when I was in my last year of Esade, I wanted to change the job I was in at the time.
I was the finance director, and this company was a branch of the Halliburton, company. The company was owned by Dick Cheney, who was vice president of the United States and I met him a long time ago. Finance and industrial companies to me, were very boring, so I tried to look for something new. There was a work pool at Esade where companies applied for students or new workers and I saw the announcement of a sports company and I took the decision to apply for it.
When I realized it was EuroLeague, I was excited. Sport is something that attracts more and more people. If it was fashion, it would have been perfect for me because I’m in love with the fashion world. I was a girl who was following sports at that time. Basketball was very popular in Spain because the ACB were doing a very good job at that time. After applying to the announcement, I was involved in the whole project; and in the last interview, I was offered the job.
So why sports? When you talk about finance and all the associations of finance, it’s very boring. Every day it’s the same thing. There’s no passion and nothings changing. It’s not like marketing or the legal world, which is always changing. You have to adapt to every change that is known with Finance but for me, the EuroLeague is not only finance, it’s the strategy of making things better.
For example, we’re all in the project of the new franchises to close the league for the 2023 season and so on. I’m involved in those projects which are related to finance, but they are always different. You have to discuss with a lot of people just to find a number or a procedure, and that's what I like and love about this job.
DG
You talk about chance. When you did your MBA, was that because you felt you needed some more additional skills to change your position? You obviously decided to do that to gain greater understanding, greater knowledge and to be more attractive to the job market because you would have greater skills. Why did you decide to do the MBA? Was it for all of those reasons and to have a change of outlook?
YJ
It was a finance master’s degree, not an MBA. I was coming from a business degree and an economics degree so that was two degrees together. Then, I decided that I wanted to specialise in finance but at the top level. I wanted to be able to evaluate companies and analyse how to be involved in the big operations of companies, not as an accountant but as a strategic decision maker.
At that time Esade was one of the biggest and most famous schools and it was not only around safety or because I was sure about my knowledge but also to be linked to a prestigious school, that at that time, companies wanted someone who came from Esade. They saw the people at Esade more qualified than someone coming from a governmental university.
DG
It's interesting whenever I speak to a lot of people, yourself included, a lot of people say to me that they were quite lucky or there was a chance; when actually, I think from speaking with a lot of people, it's the exact opposite of luck. The first thing you said was about the chance that you saw the role, but actually, I think it was the opposite of chance because you decided to invest in yourself more; you went on the course to be the highest possible type of finance and strategy person you could be and then that opportunity opened as a result.
I don't know whether you see it differently, but I think a lot of the time people tend to say that I was lucky. I was in the right place at the right time. I’d be interested in your views on that because that to me feels the opposite of what did. All of these extra possibilities and all of these things that opened for you, and then those opportunities which happened as a result.
YJ
That's true. I’m going to tell you an anecdote because I come from a very humble family. Before the Esade Masters, I was using my motorbike in Barcelona and working in Sant Just which is just outside of Barcelona; and I was going there every day by motorbike and my father said to me: okay I don't have too much money so what would you prefer? Would you prefer some money for a car and whatever else you may need? I told my father I wanted the money to do my Masters at Esade and I will buy a car after I’ve finish my degree in Esade. I decided to invest in myself and not in material things. I thought that these material things could come afterwards.
DG
I really like all of those stories. Those types of things are really interesting because I think that a lot of people think successful people are motivated by mind-set; like your ideas in your brain that start when you're a child, that are adapted by your family and then develop when you become a professional person, into the profession that you're thinking about.
Could you give some ideas about your own mind-set and your own ideas? What would you say your main principles or mindsets are in your own development?
YJ
As I told you before, I come from a humble family and my principles are to be a person that never depends on anyone else. My idea was always to become a financially or economically independent person. I have always studied a lot and tried to develop myself as much as I can. I was working while I was studying. During my first business degree, I was working in school after classes. I worked in a special education school, to be with people who had special needs like downs syndrome.
I was working in the school for the first two years of my business degree, just to have some money and to not ask my parents for any if I wanted to buy a dress or go for a drink on the weekend. My mentality and my principles were to always be capable to depend on myself. Coming from a humble family has made me want to achieve my goals.
One of my goals is one that I’m living right now. Yes, it's true, we work a lot and it's a job with a lot of stress, and at the minute, it's a horrible time. It has been crazy, but I’m satisfied with my goals because I feel that I have achieved them by being honest, and by being professionally valid, investing in my talent and trying to bring my company all that I can from my knowledge and experience.
DG
I think everybody has very similar, interesting mentality principles of working very hard and continuing to invest in themselves. I found the type of work you did as a job really interesting because there are a lot of highly successful people who have done well and enjoy giving to others. The more responsible their position, the more important it is to give back, either in terms of advice or in terms of charity; it gives them a better perspective.
Something else I’ve tried to understand is habits and they are part of the reason why I’m trying to write this this book. So when talked in the beginning about when people say: I want to work in basketball, or I want to work in football, and they think just because they watch basketball, or they watch football, or they love shopping for clothes and fashion, that means that they would be the best person for that job, when actually, as you said: the reason you got your job in EuroLeague was because of your skills, your learning, your study and your competency to do it.
With habits, a lot of people seem to have quite productive habits that they do every day, certain things they build in. I’m really interested to know, are there particular things that you do? I know you're a mother as well and you have two children to look after, which is the hardest job, I know my wife does an amazing job too. Are there other types of habits that you find good? I know you play a lot of sport as well and other things, so inside and outside your professional life are there things that make you more productive and that aid your life?
YJ
I like to play padel which is like tennis with walls, where you play two against two. I like to go to the gym every day, maybe not every day but at least three times a week. I think that if I take care of myself, I can be more productive and reduce my level of stress.
If there are some weeks I cannot go to the gym for three days and I only go for one day, it doesn’t make me feel good because my body is more tired and tense, so then I don't feel as productive as I can be. My habit is to always take care of my body, to go to the gym or to play padel with friends at least three or four times a week, if that means maybe Saturday, Sunday and two other days during the week. I need this like I need water. I have a problem in my back from a surgery I had when I was 31 years old. I had a hernia which was called a protoverancy hernia and after that I decided to take care of my back and my body, so exercise is something I need.
Another habit is that I try to be with my friends on the weekends to share some lunches or dinners, to change the mood and disconnect from work.
DG
Do you find it easy to disconnect because I find it very difficult to disconnect, even at the weekends because I work in an industry that is 24-7, 365 days a year. Having the head space and to not think about things sometimes can be an advantage but obviously for everyone's welfare and lifestyle, it can sometimes be quite difficult. How do you find switching off? Is it always at the back of your mind?
YJ
I find that I always disconnect when I’m in the court playing padel. At that time, I disconnect for at least 45 minutes, then the last 15 minutes I’m thinking about work, thinking: maybe there is a message on my mobile, or an email and then I always lose my game. Also, when I’m listening to music, I try to relax with music while I’m on the elliptical machine for 20-30 minutes.
I try to disconnect but for example, last Sunday I was working all day, all evening and you know in Spain, we have siesta; well, when I woke up, I thought, oh my god I have to work this afternoon because I have to finish something! I think that music and sport is the only way to disconnect for a while.
DG
Can I maybe ask you an even more difficult question? Do you think it’s possible to become a senior executive in a high-profile sport, like basketball or football, or in fashion, or in television if your job does not take up most of your life?
YJ
No, it’s not possible. You need to be involved in your job, as you said, 24-7 because things are changing so fast. If you are not connected to news and everything that is happening around the world, then you cannot be the best. You can be good, but not the best. These kinds of jobs absorb most of your time. You are a lucky man; I was divorced when my children were three and seven.
I was divorced because I couldn't manage everything. I couldn't manage to be the good wife, the good mother, the professional traveling around. It was a time that I stopped and thought, I cannot leave my job because I have to keep my family and I like it, maybe my relationship with my husband has been more difficult because we have evolved in a different manner and of course my children are my children, so there’s nothing to say about them. I took time from my divorce. The time that I didn't have my children around is the time that I dedicated to myself and my job.
Being a woman and being a high-profile professional, it's difficult. It's a little bit easier now because my children are bigger, and you don't have to dedicate as much time as when they are little. I have time for my partner, for myself and for the job but it's difficult. We have to understand that, for people who are in that level of profession, it's quite difficult to manage everything in your life.
DG
I think that's right. I think there are sacrifices to be made sometimes. When you were studying, did you have people that you could turn to, to offer you advice or to be able to offer support? Did you ever have any mentors, either formal or informal, that you would turn to when things were difficult or when you needed to rely on other people for some advice or ideas? Did they teach you anything interesting or are there any particular insights that you could share at all?
YJ
I had two mentors: Jordi, who is my boss and I recognize that I have learned a lot from him. He helped me to become the professional that I am now. Another mentor that I learned a lot from, especially around making hard decisions, was Salvador Alemany. He has helped me with serenity. When you are facing problems that you need to manage, he shows you how to try and solve different things. I think he's one of my mentors.
DG
I agree. Whenever I’ve met Salvador, I’m always really interested to speak to him more. When you talk about serenity in difficult situations, I think my understanding is that when things are difficult and when there is a lot of pressure, and lots of conflicting issues to deal with, you will always feel the pressure, but it's about making your decision-making better. Is that the idea?
YJ
Correct! The idea is to not be influenced by the pressure. You need to sit down and analyse what effect decisions will have whether you go in one direction or another. You must evaluate everything that can have an impact on these decisions.
DG
The last question for you is one that a guy called Tim Ferriss has asked lots of high-profile leaders around the world, and the question is: if you were to have a massive billboard where you could say anything to inspire people, what would it say?
YJ
I would say to have consistency between your feelings and your actions because I think that consistency is something that helps everyone and when you have to take decisions, you have to be aligned with what you are doing and the reason why you are doing it like that. I think consistency and honesty. I think consistency between your feelings and your actions is what helps you to be successful in your work.