The 2020 NCAA March Madness Basketball Tournament kicks off on March 17th and will showcase 68 teams as they go head to head for a championship title. While some folks watch the tournament for the love of the game and others are more interested in filling out a winning bracket, there are also a few business lessons to be learned from the competition. March Madness requires a sense of leadership, perseverance and skill from every player and coach who sets foot on the court. So check out the business lessons that our team believes we can learn from this year’s exciting hoops match:
Honestly? March Madness is a ton of fun with a little competitive edge, but very much like my real life, I try not to take it too seriously. Coming from a 3x winner of the bracket challenge… when you get caught up in all of the small details and stress points, you aren’t going to *compete* at your best level. Similar to how in the business world, if you are stressing too much about the little details and probability that something could get messed up, you are not focused on the big pinpoints that are going to help you land positive reviews and successful outcomes.
When preparing for a client meeting or developing a strategy to present, you’re only going to prove to the client that you’re the right person for the job if you’re knowledgeable about their needs, your recommendations, and make the client feel comfortable. Be honest, be alert, be prepared, be yourself… and you’ll be successful.
What I love most about March Madness is the never say die mentality. Those moments when the team that was losing at the end of the game somehow, miraculously make their way back and finish with a long ball shot to win. Some might say that it’s luck, and maybe it partly is, but I think it’s more about the drive to win, the drive to succeed, and the drive to not quit even when the odds seem insurmountable. Teams practice hours and hours for these exact situations to prepare for the “What If?”. They work hard day in and day out to be prepared.
Many of the most successful businesses have this exact mindset. They work hard day in and day out and train their employees in preparation for the “What If?” So if they run into the situation where they seem like they are behind, all that preparation will kick in and help them to push harder even when the odds seem insurmountable to finish the “game” strong.
Don’t look past the underdog. Great relationships can be built with a small company or between a few individuals. An underdog with passion can upset the best team/company. Don’t quit. Give your all for the entire time. Success can come in the final minutes! Make adjustments when necessary. You don’t win or lose in the first quarter, so when things aren’t going the right way, make some substitutions. And of course, the most obvious – TEAMWORK! Teams don’t win because of one individual, they win with a group that trusts each other. People who celebrate with you when you are winning and are there to help you figure things out when you’re not.
Those that work as a team are far more successful than those that try to take on the whole project by themselves.
There are winners and there are losers. How you prepare and play the game matters! March Madness reminds us to not underestimate the competition or client engagement. Too many times unjustified assumptions are made and potential business is missed. Businesses should always hold true to their values, remember why they made it to the dance, and stick with the fundamentals that got them to this point. And, if you can have a dedicated nun praying for you… you’re golden!
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