What college basketball, bracketology and March Madness can teach you about business

I like college basketball. So much skill, teamwork, and excitement to be experienced every year in a few short weeks.

And yes, I may be the only one who sees the parallels that exist in basketball with business strategy, modern-day corporate culture, and the NCAA tourney process.

As Simon Sinek says, “Start with the Why”.

Some thoughts on basketball. Many college players and recruits play for the love of the game. It’s their initial Why = Their passion for the sport. Believe it or not, coaches and fans have it, too. The great ones do, I believe. Some players look to the future and their opportunity to progress at the next level (pro). They dream of a great contract, a highly sought-after salary and the opportunity to play and win for a storied franchise, coach and/or star teammates. If that’s not in their immediate future, many stay committed to school, receive an experience they’ll never forget and realize the business side of ballin’ with a free degree.

The same thoughts apply for a quality business vision and purpose.

The initial Why = The passion for the vision and the value it can create. This business concept must fill a need, produce financial return and ‘community’ success. In fact, the business must stay agile and relevant to keep the investors, customers and a team committed and willing to champion the vision. The average ones – businesses and teams – sustain and remain. The great ones adapt to the marketplace, encourage new growth and believers, and actively recruit and develop talent and customers.   They stay focused on the quality products and services provided and know the value they produce for their clients, team and new leads. Growth and change becomes positive, ongoing results. Complacency won’t win.

Q: So what does it take to keep the Why prosperous and relevant in basketball?

A: The Who, the What and the How:

• The Coaches: Develop their team, lead the coaching staff and interact with supporters ~ through coaching, engaged involvement and supportive relationships. They coach with focus and can capitalize on competitor weaknesses. They actively recruit, follow regulations and add value to their school’s brand and healthy bottom line.

• The Players: Master their game and elevate their teammates’ performance, positively engage with fans and supporters, and approach practices and game days with great discipline and continuous improvement.

• The Fans, Athletic Supporters and Administration: Invest in their program, raise its awareness with others, and actively support the program, in dollars and presence.

Q: It’s very similar to a well-run business, isn’t it?

A: The Who, The What and The How:

• The Leaders: Develop their team, lead the staff and build relationships with clients, customers and their board ~ through listening, engaged involvement and team support. They lead with focus and can capitalize on competitor weaknesses. They actively recruit, follow regulations and add value to the brand and healthy bottom line.

• The Workforce: Master their game and elevate their teammates’ performance, positively engage and listen to clients, customers and the marketplace, and approach business practices and service with great discipline and continuous improvement.

• The Clients, Consumers, Board and Community at large: Invest in the business’ services, raise its awareness with friends and family, and actively support and utilize products and services, with their dollars and common sense.

Let’s reiterate a common theme in 2015: a healthy culture produces a healthy company and healthier bottom line. To clarify…. Culture is not just the “happy” and “engaged”. Culture is so much deeper and more strategic than “happy”

In basketball, it’s more than just the game fundamentals. It’s learning to play as a team. It’s producing desired results (wins, on and off the court). Bringing out the best in each other, and sacrificing individual ego for team/school WeGo. Thinking strategically is a must, and knowing whose strength can be leveraged, especially when a blind spot is exposed. Then having the composure to stay in the game, win, and move on to the next challenge. A culture based on agility, collective skill and team mentality.

Dynasties like:   UCLA, Duke, North Carolina, Kansas and Kentucky

Fast forward to the 21^st century progressive business world, where innovative companies have made the pivot to team culture, operational interdependence, collaboration, and adaptability. Business is also moving in the direction of heterarchy (connectedness) and wirearchy (via humans with tech) and away from 20^th century hierarchy (authority and control), yet another great parallel to share.

Here we are. The NCAA tourney selection process completed. The final 68.

Bracketology meet March Madness.

March Madness, meet your maker.

Rankings become seeds, bubbles get popped, top seeds can become upsets, #12’s can become Cinderellas, and everyone starts with a 0-0 record after March 15^th.

If it were simply a numbers game of predictive analytics, big data, algorithms and data analysis, we certainly wouldn’t need the madness.

However…

Rational analysis and the numbers game in basketball is only the science.

We know, especially my fellow Hoosiers, that basketball is an art form, too.

And so is business.