Forbes Coaches Council
Survive And Advance: Three Things Entrepreneurs Can Learn From March Madness
Running a business is, in so many ways, a purely psychological exercise. Yes, a superior product or service is beyond important to a successful company, and experience and intelligence also help. Talented employees and proven systems matter, too. (Caffeine doesn’t hurt either!)
But keeping a business going is also mental, and it’s important to feel self-sufficient as a business owner, always focusing on “You 2.0.”
Regardless of the business you own – whether you work mostly online, drive a work van around to countless appointments, or own a restaurant – so much of what you do and whether you do it well depends on your attitude.
It’s hard to perform like a winner if you feel like a loser, which is why I spend so much time helping people uncover the power of possibilities, options and dreams. And March is the perfect time to do so. Why? March Madness!
March Madness provides the ideal inspiration for surviving and advancing in the business world. Even if you aren’t a sports nut, you probably already embrace the lessons that the idolized tournament can teach us all.
Performance matters.
OK, not every March Madness lesson offers one of those “why didn’t I think of that?” moments. But keep in mind there are 68 men’s teams and 64 women’s teams in the NCAA tournament. On a day designated as Selection Sunday, 32 teams gain automatic entry into the tournament due to winning their conferences’ championships. Think of these basketball teams as the Fortune 500. The higher you perform, the more the world automatically recognizes your company’s value. You’re in the game no matter what, so show up, and give it your best shot every day.
Your reputation is worth a lot.
After those 32 teams are automatically picked, the remaining teams rely on a secret ballot vote. In other words, a selection committee decides which teams will play in the tournament. Let’s put it this way: If there was a March Madness tournament in your industry, and your peers had to vote you in, would you make it into one of those brackets? If not, what does that say about your company’s reputation, and does it mean the best employees, suppliers and clients are staying away? Past performance matters, but only if your current record and recent success suggest you’re still among the elite!
You’re nothing without tenacity.
Tenacity is key — in basketball and in business. You’ll go through times when performance or results suffer, and your reputation may take some hits, but grit and determination are what help you overcome it all.
When it comes down to it, there are many days when it’s imperative to just “survive and advance.” Those words were coined by the late, great Jim Valvano, known to most as Jimmy V. There’s no better March Madness example of how diligence and resolve can pay off than what Jimmy V and the 1983 NC State Wolfpack team accomplished.
Valvano led his team to victory in 1983 over Houston, often called one of the greatest Cinderella stories in college basketball history. The game was 54 to 52, with the last shot being a dunk right before the buzzer, off an airball that had been thrown 30 feet. (It does prove that luck matters, too!)
Valvano was a colorful character and loved by fans across the country, and he knew how important attitude was when it came to winning. In 1993, when he was dying of cancer, he said in a speech at the ESPY Awards,”Don’t give up. Don’t ever give up. That’s what I’m going to try to do every minute that I have left.”
And you can’t give up either. This is, after all, not just a business we’re talking about. It’s your business. Your clients depend on you. Your employees depend on you. If you have a spouse or kids, they depend on you.
Basketball was Jimmy V’s business, and his players/fans relied on him as your employees/clients rely on you. It’s your vision, attitude and mentality that will drive your business and everyone associated with it forward. So, embrace “survive and advance” to its maximum potential. You’ll be surprised by the magical impact it will have on your business and everyone around you.