Business leaders got a lesson in winning from a true Olympian.

Eighty-five business people joined Olympic silver medal-winning cyclist Lizzie Armistead to discuss how lessons from elite sport can be adapted for business.

The event, hosted by Jill Douglas and organised by Yorkshire Bank and Welcome to Yorkshire, looked at the economic benefits of the Tour de Yorkshire and how local businesses could draw inspiration from the cycling extravaganza.

Lizzie won silver in the road race at the 2012 Olympics and gold on the road at the Glasgow 2014 Commonwealth Games.

She said: “Cycling 515km over three consecutive days takes real endurance, as well as physical and mental strength. Challenges such as the Tour de Yorkshire demonstrate the amazing feats people can achieve when they put their mind to it.

“That winning mentality and drive to go on are essential in both cycling and in business. The characteristics required to be a successful cyclist align closely with running a successful business; dedication, commitment and surrounding yourself with a great team.”

The Tour de Yorkshire saw 18 top teams compete, including Bradley Wiggins’ new team. More than 1.2m people lined the streets over the three days of the race, which took in parts of Kirklees and Calderdale and was won by Team Sky’s Lars Petter Nordhaug.

Peter Dodd, commercial director at Welcome to Yorkshire, said: “After the roaring success of the Tour de France Grand Départ last year, it was clear that Yorkshire had an appetite for hosting major sporting events in the region.

“Tourism is an integral part of Yorkshire’s economy with over 200m visitors per year contributing about £7bn to the local economy.

“Hosting the Tour de Yorkshire drew crowds from near and far and further established the region as a leading destination to a European television audience of millions.”

Paul Shephard, director of business and private banking at Yorkshire Bank, said: “We’re very proud to support cycling and businesses across Yorkshire.

“Bringing major events, like the Tour to the region not only offer direct business opportunities, but inspire entire communities.”