Wow, what an incredible March Madness this year! It was so much fun to watch. It always reminds me of when my youngest daughter, Emily, was born in mid-March and we spent 4 days in the hospital watching basketball. Such a great time of the year.
I was disappointed that both the men’s and women’s Ohio State teams did not fare as well as I hoped; however, they both had great successes during the season. I was glad to see the Big Ten so well represented, especially in the Final Four of both the men’s (Purdue) and women’s (Iowa) tournaments.
The women’s tournament in particular was thrilling from beginning to end. Tight games, records broken, and the unbelievable shooting of Caitlin Clark kept everyone in excited anticipation. It was so wonderful to see such an amazing community of women coming together in sport.
As I watched games and followed brackets, I couldn’t help but notice the elements of college basketball that align with business principles. Here I lay out 4 important lessons businesses can learn from March Madness:
- Culture is key – https://youtu.be/kupVvFTCn_E?si=XY8t6A73kmhVDsqN
Lisa Bluder, head coach of the Iowa women’s basketball team, gave a fantastic pep talk to her team in the locker room during which she stated that the team was taking a ‘leap of faith’ and that they were able to do so because of the trust and respect the players have for one another. Her words really struck me. They could not be more true – when a group of people are working toward a common goal, be it the NCAA championship or growing a business venture, there has to be trust and respect in order to achieve the goal.
2. The leader sets the tone – players from both the Iowa and South Carolina teams repeatedly mentioned in interviews that their coaches created atmospheres in which they were able to thrive as players and people. As a result, these teams had record-breaking seasons and played in the championship game.
3. Having the right players in the right positions on the team at the right time – one of the most impressive stats from South Carolina is their points off the bench, meaning the scoring from those players who do not start but come into the game at some point. It was noted that SC had 9 players regularly rotating during games throughout the season. This demonstrates the keen ability of head coach Dawn Staley and her staff to know who needs to be on the court and when. The results speak for themselves.
4. Make corrections in the moment, don’t wait – one of the most frustrating situations I have encountered working with leaders and managers is when they hesitate to take action that they know would be beneficial to the organization. If you have ever watched a sporting event, you see that adjustments are made immediately based on the performance of the players, the environment, and other circumstances of the game in order for the team to achieve their desired outcome. They don’t wait – if the quarterback is throwing interceptions, the pitcher is only throwing balls, or the striker can only hit the ball into the net and not over it (volleyball), the coaches bring in the backup and move forward. They address the issues with the player(s) in question in the days to follow the game; they don’t avoid the conversations for weeks and months on end. Why? Because coaches know they have the ultimate responsibility for the team’s success. And that means they have to do what is best for everyone involved, even if it is uncomfortable or unpopular. It also decreases confusion for the players on the team; they know exactly where they stand. Taking an approach of handling issues in the moment is a far superior performance management strategy.
What other lessons can business take from the sports world? Or vice versa?
In case you’re wondering…kickoff for college football is 130 days away. Yes, I’m counting. And I cannot wait to watch the NFL draft this week.
Living in the Gray 