March Madness lessons apply to the business world in many ways. In the past businesses that I have owned, including the one I own today, Business Health Matters, all 10 of these lessons apply to the businesses world.
Here are a few 10 examples:
- Believe or Depart: In the business world, underdogs need to believe in themselves and their abilities to succeed. If they succumb to the pain and lack confidence in their capabilities, they may struggle to gain their colleagues’ or customers’ trust and respect. Pain is temporary quitting lasts forever. Go OWLS!
- Timeouts: In the business world, underdogs need to take breaks to recharge, regroup, and strategize. They need to use their time efficiently and not dwell on past mistakes but focus on the future. Basketball teams use timeouts to rest, regroup and recharge.
- Mini Games: In the business world, underdogs need to break their goals into smaller, achievable milestones. They can progress and build momentum toward achieving their larger goals by focusing on smaller targets. In basketball, they operate under 4-minute games to win each one.
- Mistakes/Turnovers: It’s not if a mistake in business is made but, more importantly, what you do after the error is made The average NCAA team turns the ball over 12-15 times a game. John Wooden, 10X NCAA national champion coach, stated, “If you are not making mistakes, then you are not doing anything. I’m positive that a doer makes mistakes.”
- Next Play: In the business world, underdogs need to be adaptable and responsive. If something doesn’t go according to plan, they must regroup quickly and move on to the next opportunity. In basketball, the next play is the focus.
- Resilience: In the business world, underdogs need to be resilient and able to bounce back from setbacks or failures. They need to learn from their mistakes and keep moving forward. You learn and move on in basketball after a missed shot or a turnover.
- Rhythm: In the business world, underdogs need to establish a rhythm and routine that works for them. They must proactively create a work environment that makes them productive and effective. In basketball, the goal is to maintain our rhythm and disrupt the others.
- Momentum: In the business world, underdogs need to create momentum by doing the small things that add up to big wins. They can gain momentum and build their reputation by paying attention to details and going above and beyond. In basketball, the fundamentals are paramount, evidenced by the further you succeed.
- Teamwork: In the business world, underdogs need to focus on collaboration and teamwork. Who gets credit for a well-done job is less important than the team achieving its goals. Before a team scores, the average college team passes the ball 5-10 times before the team scores, getting everyone involved.
- Strengths: In the business world, underdogs need to know their strengths and leverage them to their advantage. By focusing on what they do well, they can differentiate themselves from their competitors and stand out in the marketplace. In the game of basketball, teams play to their strengths and play to the opponent’s weaknesses.