Every year many of America's sports fans stop and watch MLB's "Midsummer Classic", the All-Star Game. This game is played by rosters of the best players each team has to offer in a concerted league effort to gain home field advantage for the World Series. Basically, the winning league's best team travels less during the title series. So you might be asking yourself, what can my event business learn from a baseball game. I'm here to tell you, quite a lot, but let's just look at the Top 3.
1. Trends are not infinite- Even when they seem to be, the good times or even the bad ones, will not last forever. History has shown us that you need to not invest too much in the present. From 1950-1987 the National League won 33 of the 44 games. But up until last night, the National League hadn't won a game since 1996. Trends can be lengthy, but betting big on them can be costly. Even in the most dominant times, there would be some losses. Going "all in" in those years would have been costly. The same can follow on large expenditures for your business and inventory. Just because it is "state of the art" today does not mean it will be in the future. Sometimes, the "next big thing" never becomes BIG at all, remember BETA, Howard the Duck or Cabbage Patch Dolls? Your investments should be sound, like a good relief pitcher, make purchases that bridge gaps and make you stronger,not ones that put you at risk. Ask any baseball executive if there is anything worse than signing an expensive free agent that never plays to their potential. You can find most of those GM's at the unemployment office.
2. Talent Helps- Hiring is key. Just as All Star teams gather the best players from around their league, you might want to look into doing the same with your staff. Too often as business owners we are passive in our hiring practices, but it would be more effective to assemble the best people from within your industry. Remember, that would not only make your organization stronger, but losing key players from their organizations will weaken your competition. Imagine the Tampa Rays taking Mariano Rivera from the Yankees or David Ortiz from the Red Sox. Those moves make them the favorites to win and severely weaken their immediate competition.
3. Good Management Wins Out- Last night, American League Manager, Joe Girardi, left Alex Rodriguez on the bench for the whole game and never used one of baseball's greatest players to help his team. His reasoning was that since he had wanted to get "everyone into the game" he was short handed when the game was being decided and he didn't want to use his last player in case of extra innings. This type of management error is seen all the time. Many managers don't handle conflict well and thus get very little out of the talent given to them. Motivation and candor are the two best weapons in a manager's arsenal for success. But worrying about the might'ves and could'ves can paralyze the decision process and send you home defeated.
Use the tools you have at your disposal the best way you know how and do not worry about the perceptions of others, their perceptions will not help in your successes or failures.
So, as the National League ends its losing streak and the American League looks to next year to bounce back, what can each one learn? The National League needs to not rest on its laurels, past performance does not guarantee future success. The American League most look to new motivations and management to make its own return to success. This battle will continue for years into the future, as Major League Baseball is still a great business model and will be successful for years. How will your business measure up?
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