Source: https://mchenryconsulting.net/what-march-madness-can-teach-us-about-business/
Timestamp: 2019-04-24 11:07:01+00:00

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The annals of history are full of stories about rivals squaring off against each other for an ultimate showdown. It makes for excellent basketball in March or for Sundays and Monday nights in the Fall.
Roberts talks about the psychology around why the public loves the “storied rivals” and why we cheer for the “plucky underdogs” each tournament. The idea of an upset is what makes March Madness so exciting. Roberts goes on to explain why the same theory applies to corporate America.
Who are some of the greatest sports rivals of all time? Who are some of the greatest corporate rivals?
The NCAA March madness tournament is historically filled with great rivalries such as North Carolina v. Duke, Louisville v. Kentucky, UCLA v. Kentucky, UCLA v. North Carolina, Michigan v. Michigan State. As you know, many of these teams have been knocked out already.
In the business world, Wertheim describes how not long before Jobs died that he declared a “holy war with Google” over who would win the battle over the growing mobility market. He illustrated that having a menacing rival is a powerful motivator and a mission for companies and their troops. Jobs was motivating his teams by creating a rivalry.
Another interesting point that Wertheim draws from March Madness is how much that we like seeing the Number 1 seeds get upset. Yet, when we put our money down that we tend to over bet on the favorites…much like we do on the blue chips in the stock market. He said we say we love start-ups, but in the end we go with the tried and true.
So are there rivalries in the PEO industry? I am sure there are. Who would they be? Possibly ADP v. Paychex? Perhaps TriNet v. Insperity? At a regional level the list could go on and on.
We know that competition makes athletes perform better. We know that competition between companies and brands stimulate more innovation and produce better products. We would like to believe that primaries have historically made stronger candidates.
My question to you is “who is your rival?” What PEO in your market provides you with the strongest competition? It could be a similar sized and comparable competitor. It could be a “David and Goliath” situation.
Whichever the case it may be, let the intense competition of March Madness be a source of inspiration to the manner which you can drive your business and your teams to seek a competitive advantage to your strongest rival!
If you have any comments or would like to discuss this article or commiserate on our mutually busted brackets, please do not hesitate to call or email me at dan@mchenryconsulting.net.

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