Business lessons from sports for Indian entrepreneurs: Top 10 takeaways
Business lessons from sports are a dime a dozen, but the takeaways for Indian entrepreneurs in particular are especially poignant.
Sports are a microcosm of life and business, mirroring, albeit in a controlled environment, all its unpredictable ups and downs.
In the increasingly capitalist and globalized world we live in, startups are the new superstars. This is especially noticeable in India, with its flurry of newly-minted unicorns and the latest viral success of Shark Tank India.
Business and sports: Many parallels
In this scenario, here are 10 business lessons from sports that can be mined by Indian entrepreneurs.
#10 Have a clutch mentality
The ability to perform at your best when the chips are down and your back is against the wall is a skill that can be developed. And who better to learn from than Indian cricket's Captain Cool? Dhoni exemplifies poise and calmness under fire.
In sports and in business, it is important to trust your preparation, focus on the process, execute your strategy and let the result take care of itself.
#9 Develop a next play attitude
Virat Kohli's recent captaincy resignation controversy was all over the news. But the man himself has moved on to playing under the leadership of KL Rahul (Tests) and Rohit Sharma (ODIs/T20s).
There's a lot to learn from Kohli's attitude, chief among them being to let go of the past and move on to the next play.
In entrepreneurship too, there will be many unsavory moments: business decisions that go awry, clients reneging on their promises and partnerships that have reached their expiry date. But one has to get past those setbacks, learn from them, regroup and improvise in order to succeed.
#8 Build substitutes for each position
Consistency is the hallmark of all great teams. No matter the personnel, winning has to be made into a habit.
This was exemplified in India's historic 2-1 Test series triumph in Australia. Despite missing key stars, the Men in Blue were able to not just maintain but better their on-field performances.
Businesses must show the same versatility and nimbleness with their hiring: a mix of youth and experience, each with complementary yet overlapping skills. That way, if someone fails to show up, there is a ready replacement available.