5 Practical Lessons From March Madness
It’s that time of year, March Madness is upon us! Personally, it’s one of my favorite sports tournaments and I know many people share that sentiment. I think some of that has to do with the madness itself and from the time of the selection show right up until the final weekend the plot takes sudden unexpected twists and things seldom go according to plan.
When you think about it, the same thing happens in our organizations, doesn’t it? New competition emerges, you stumble upon that idea that could revolutionize your organization, or you win that contract that you thought you didn’t have a chance at.
Based on the incredible number of similarities I began noticing between March Madness and the marketplace, below are five points to consider to help smooth your organization’s journey and leave the madness for the tournament.
1. The better team doesn’t always win – We see it every year in the tournament, upsets. Where a team is seeded doesn’t ever give them a golden ticket to the final 4. There’s times your organization will be the favorite and times it will be the underdog, but your approach should be the same regardless. Don’t be over-confident if you’re the favorite and don’t think less of yourself if you’re the underdog, compete just as hard either way.
2. You have to show up if you want to have a chance – Why does the number 16 seed even show up to play the number 1 seeded team? Because, if they don’t they’re guaranteed to lose. A 16 seed has never beaten a 1 seed, but it will happen one day. Maybe your organization could be the 16 seed that makes history and if you’re number 1 you don’t want to get caught on the wrong side of that. Always be prepared, you never know what the outcome might be.
3. Hard work really can pay off – Many of the teams in the tournament are unfamiliar to those watching and often these teams contribute to the fun of the madness and you wonder, where did this team come from? What we don’t get to see is all the hard work they put in to get in that position, it wasn’t magic. So as you work tirelessly and sometimes thanklessly, remember that there are no shortcuts and it really can pay off.
4. Sometimes life just isn’t fair – Every year when the bracket is revealed the media immediately turns their attention to the handful of teams that ‘should have’ gotten into the tournament. Sometimes your organization will make the big dance and other times it won’t. Enjoy the victories, but also learn from the failures and turn your attention to your next season.
5. Subjectivity rules – Every year a committee sits in a room and decides who’s in the tournament and where they’re ranked. Is it 100% objective? Probably not. Your customers make decisions about your products or services based on their own subjectivity. Don’t leave that to chance, understand what makes them tick and try and solve a real need or desire in their lives.
Understanding these realities and embracing the multitude of opportunities within them could one day be the difference between coming out on top or getting lost in the rest of the pack.
