ABSTRACT
Sportify Entrepreneurship
Sportification is what turns game/hobby into billion-dollar industries. The Olympics, World Championships, and leagues (NBA, NFL etc.) built the playbook.
E-sports is the most recent success story, and suggests even disciplines distant from sports can be sportified. Bread and games in the 2020s.
IMO digital work and gaming are getting closer with every year, just think Vision Pro.
So, the idea is to sportify company building.
Posted on August 31 2023 by
This piece refers to the following themes
SIGNALS
Product Hunt created daily tournaments for product builders, and startups. Golden Kitty awards honor yearly champions.
Open-startup movement makes companies share metrics publicly creating transparency, accountability and competition (open startups list or example metric board).
YC essentially invented the demo day, a tournament-like event for companies to raise funds. Startups in Startup School - an open pre-accelerator program - submit weekly updates on key metrics, leading to a competitive leaderboard, promoting transparency and accountability, and establishing a feedback loop with the YC community and mentors.
Pioneer streams their demo days and allows viewers to rate pitches, or schedule private calls.
Pitch competitions or hackathons (like TechCrunch Disrupt) for funding and mentorship before expert panels. Dropbox Pitch in 2008.
Several websites (Crunchbase, PitchBook, CB Insights) gather data on private companies, ranking and categorizing them.
Just as sports teams compete in leagues for rankings, publicly traded companies vie in the stock market, with stock prices on apps like Robinhood reflecting their performance and standings.
CHALLENGE
Companies grapple with varied external factors, unlike the standardized settings in sports (or gaming). To mimic a sports-like "field" for businesses, one could consider simulated environments or special economic zones. However, challenges arise from the complexity of business objectives, ethical concerns, potential stifling of innovation, and the unpredictable nature of real-world business scenarios.
ARCHITECTURE
Companies, like sports teams, could be sorted into leagues based on size, sector, or stage, with startups in an "Emerging League" and giants in a "Premier League."
ARCHITECTURE
Companies = Teams
Employees = Players
Departments = Sections (offense, defense..)
Admin (HR, fin..) = Support (med, fitness..)
ARCHITECTURE
Industry challenges where companies are ranked by performance, earning points. Seasonal results dictate league promotions or demotions.
ARCHITECTURE
Annual or periodic competitions could be organized where companies face off in specific challenges or projects. Winners might receive benefits like tax breaks, investment funds, or market privileges.
ARCHITECTURE
Metrics for company performance, employee productivity, and growth would become even more critical. Just as sports analysts use advanced statistics to evaluate players and strategies, business analysts would use intricate metrics to evaluate every aspect of a company's operation.
ARCHITECTURE
A clear set of guidelines and ethical standards would be established to ensure fair competition, much like rules in sports. This might address issues like intellectual property, marketing practices, and recruitment.
CULTURE
Employees act as the "players." Their individual skills, expertise, and performance would be key to a company's success.
CULTURE
CEOs and top executives might act like head coaches, shaping the strategy and direction, while managers play the roles of tactical coaches.
CULTURE
Much like players transferring between clubs, employees could be scouted and transferred between companies. This could introduce a formal system of buyouts or trades.
CULTURE
HR, finance, analytics, fundraising, legal might act like coaches for fitness, nutrition, medical, psychology, marketing, analysis and more.
CULTURE
Similar to sports training camps, companies might have "innovation camps" or "development camps" where they intensively upskill their employees or develop new products.
CULTURE
Just as sports teams scout for young talent, companies could have official scouts looking for promising individuals in educational institutions or junior leagues (startups or smaller firms).
COMMERCIAL
Brand Alliances: Similar to how sports teams have jersey sponsors, companies could form strategic alliances for specific projects or durations. For instance, a startup in the "Emerging League" might have a tech giant as its "jersey sponsor," signaling a mentorship or resource-sharing arrangement.
Challenge Sponsorship: High-profile business challenges or tournaments could be sponsored by major corporations or entities, offering not just financial rewards but also partnership opportunities. Winners might get the chance to collaborate with the sponsor on real-world projects.
COMMERCIAL
Venture Championships: Similar to how sports teams might enter tournaments, companies could participate in investment tournaments where they pitch and showcase their products, services, or growth strategies. Based on their performance, investors place their "bets" or make investments.
COMMERCIAL
Customers and stakeholders might evolve into "fans" of companies, deeply invested in their performance, with brand loyalty resembling sports team loyalty.
COMMERCIAL
Major business events, product launches, or corporate strategies might be broadcasted and analyzed in detail, much like sports matches.
COMMERCIAL
Successful strategies, tools, or practices developed by a company could be merchandised or licensed to other companies in lower leagues.