Sure,
at first the Indian Premier League (IPL) looks like all play and no work. But
if you really take a closer look at its business model, you shall realize how
it has been successfully going on for more than a decade now and is still a
very viable and attractive a business! The whole purpose of this post is to go
beyond just the entertainment value that IPL has to offer, and actually make it
a source of learning for us; mainly our businesses or work. So, read on and
find out how we can adopt 5 business ideas from the IPL:-
Fundamentals are Key
– Yes
the IPL has a completely new covering and packaging to a beloved sport, but
what still makes it worthwhile is the fact that at the end of the day it is all
about the love and passion for cricket that everyone shares! It is the most
fundamental requirement. No matter what your respective business model is, it
is about the passion and ambition you have for the work. Your specific passion
or talent is what makes the difference. That is the basics, the fundamentals,
without which pretty much all the efforts are kind of in vain. Think of all the
successful businessmen or companies, what do they all have in common? All of
them WANT to do what they are pursuing as their respective businesses!
Shuffle Around
– Every
year before the IPL we learn about how some players are shuffled across teams.
You know why? Because change is the only constant in the IPL! It is in fact
extremely essential, especially if you want newer, better results. You have to
keep changing according to the changing environment.
I
make sure to bring at least 20% change in our signature Workshop “MIND
TRANSFORMATION-LIFE TRANSFORMATION event every 3 months. However, it is again
important to note, that by change I do not mean the changing of the bigger
picture or your visions. I mean small changes and shuffles to make sure
everyone is working efficiently and effectively under you. For example, even
though team members change every year, the bigger picture or the vision of each
team is to win the competition.
Teamwork
– It is not necessary that if a team has Virat Kohli or M.S. Dhoni, then it is guaranteed to win. Even though the one who is leading the team is a terrific player, it does not signify that the entire team is as good as him. It is all about teamwork. It cannot be ignored at all. It is about joint effort. No matter how many employees you have working under you, but if you are unable to manage them properly, you shall not be able to optimize your result even though you individually are putting in your 100%. Such teamwork also helps you to learn to absorb small failures and go beyond it!
Appreciate Talent
– Not
everyone is the same, there are always some players who stand out from the
rest. This in itself should help you realize how important it is to appreciate
talent in order to sustain it. For example, a team together sometimes is unable
to win while some matches are won by the efforts of merely one or two players.
Thus, along with teamwork, it is essential to appreciate those who are putting
in the extra hard work through their sheer talent.
Working Under Pressure
– If there is one thing that the IPL is known for, it is some of the nail-biting overs, which makes it impossible to predict so as to which team could win! And more often than not, one team is under a little bit more pressure than the other till the last ball. This is how a business works too. Sometimes there is a lot of pressure which makes the work environment extremely intense. You have to learn how to be captain-cool under such circumstances. It’s not that easy and that’s why we devote one full week how to manage your stress in our life.