With the return of the iconic sporting festival from September 20th, cricket fever is back in India. Being the most-awaited and enjoyed sport around the world, IPL is a full-blown package of entertainment, enthusiasm, and business management lessons.
Of course, entertainment is exotic in the IPL. From the very first ball of the match to the last over, IPL hooks people to their seats. After the wins, you can feel the enthusiasm of fans all over the streets. Last but not the least, IPL holds tremendous management lessons for corporates and startup founders. You can learn management skills & strategies to boost your business while watching your favorite team hustling over the ground.
So, from all the hues of triumph we gain with IPL, let me greet you with some incredible management skills IPL is offering at our desk. Are you ready to dive in with me?
Business Management Lessons to learn from IPL
Fuse with GenZ
On the very first note, IPL’s main emphasis relies on young blood. Every year they instill GenZ boys and whoa! You can see the difference. Delhi Capitals are thriving this season with their youngest team. They are driving their game ahead with the proficient experience of their coach. MS Dhoni brings out the best potential in young blood with his experience. That’s what we call fusion.
Similarly, the biggest management skill we learn from IPL is the way they use the young generation to boost their gameplay manifolds. Instead of going with the hierarchy thing, try to leverage the creativity and energy of younger employees. You may need to tame them a bit. But the strength and creativity they bring in are incredible.
Balanced Teamwork and Leadership
Eleven is far better than one, right! IPL signifies this formula to the best. Do you know which is the most successful team of the IPL? Of course, it’s Mumbai Indians. But what exactly is their winning formula?
Their balanced team is leading them towards success all these times. Be it best openers, first down batsmen, spinners, pacers, and all-rounders, MI is the paradigm of the strongest team in IPL.
Similarly, instead of managing every single task yourself. Hire experts. Build a balanced team with experts of each domain. Create a strategy keeping the strength of each member in mind and move ahead. These 2 business management lessons of IPL can prove to be a gamechanger in your corporate life.
This year, Varun Chakraborty and many new boys are writing new records in IPL history. All the team management cares for is their skills. Their age, background, color, caste, and race don’t matter at all. Openers of Mumbai Indians are Quinton Decock and Surya Kumar Yadav or Rohit Sharma. Both of them are far different in looks, color, physique, and all. But does it matter? Nah! Not at all. They are one of the strongest opening pairs and are benefiting the team. That’s all that matters.
Thus, another one of the most crucial management skills to learn from IPL. Don’t see the color or location of a member. Assess their skills and attitude. Because with these 2 they can help you reach the skies.
Change is crucial for growth
You may hate changes. The world may dislike changes. But if your business demands changes, don’t waste another second to go with the flow. Delhi Capitals was struggling with a plethora of issues a year back. But team management took the risk and gave a chance to Shreyas Aiyar. And, voila, with the change, the team started flourishing and still counting.
Thus, another management lesson we can learn from IPL is about the need for changes. Risks are inevitable in the business realm. You have to experiment with everything to take your business to the next level.
Choose with Execution Excellence
IPL team management plans tons of strategies when they bid on the players in the auction. But when their gameplay decides their future in the team. Because that’s when the coach sees their execution excellence. Teams always set an order to launch batsmen on the pitch. But sometimes in adverse conditions, captains have to send middlemen on first down.
Thus, IPL teaches us project management lessons too. You may imagine tons of strategies to grow your business. But sometimes, under severe conditions, you have to change the execution. The ability to change and implement decisions to get the best out of any situation is one of the most vital management skills.
Execution over strategies
The gameplay decided on paper is totally different from the actual one. But a player tries his best to match the expectations to the fullest.
Similarly, the business gameplay could be decided upon the business plan of a startup. But in the real world, tons of things differ. Strategies and numbers defined on paper may seem like a moon from the earth. But hustling to achieve the defined numbers is what every startup founder should try to achieve.
All these business management skills are of utmost importance. Thus, this IPL season, learn some amazing business management and project management lessons while enjoying your favorite team’s gameplay.
Being a startup founder these skills can turn your business upside down. Besides, if you need help regarding startup fundraising, Lakhani Financial Services could be a gamechanger for you. From raising funds to providing consulting for startups, we are a team of world-class experts to help your startup reach skies with the right mentoring.