4 Valuable Insights Small Businesses Can Glean from the NFL

Everyone who loves professional football has a favorite NFL team. As the 97th season of this popular league kicked off this year, fans are gearing up for some thrilling times ahead (Go Broncos!).

When we look at the NFL as fans, we see our favorite teams and players, fantasy draft picks, and even cheerleader performances. But as a business, what do we see? The NFL is an incredibly successful venture, having generated $12 billion in revenue last year with plans to reach $25 billion in a few years. The NFL is more than a game; it’s a finely-tuned business machine. So, what can small businesses learn from the NFL’s success?

Just because you’re a small business doesn’t mean you can’t compete with the big players. You need to find opportunities and leverage any weaknesses in the competition. For example, when the Houston Texans joined the NFL in 2002, they found their niche despite competing with established teams like the Dallas Cowboys. Similarly, a small business can thrive by finding its unique selling points.

Take Zappos, for instance. Their exceptional customer service sets them apart, even though they sell products that many other e-commerce stores offer. If you offer something unique and show confidence in your product or service, you’ll attract loyal customers.

Consider the Seattle Seahawks’ fans, known as the “12th Man.” These fans are so passionate that their support has even been credited with helping the team win games. As a small business, you can build a loyal customer base by engaging with your customers. Listen to their feedback, offer behind-the-scenes insights, and show appreciation through specials and discounts. This can also generate valuable user content like testimonials and social media posts.

The NFL constantly updates its rules and structure to keep the game exciting. For instance, no team has won back-to-back Super Bowls in over a decade, making the championship open to all. This approach is a lesson for small businesses too. Innovate and stay ahead of customer expectations to keep them engaged and loyal.

Did you know the NFL runs a Business Engagement and Entrepreneurial Program for its players? This program helps players develop business skills for life after football. Similarly, small businesses can benefit from resources that offer valuable business information and knowledge. SCORE, for example, provides free mentoring services to small businesses and there are many online resources available to help you succeed.

In summary, the NFL’s success offers plenty of lessons for small businesses. By finding your niche, engaging with your customers, staying innovative, and utilizing available resources, you can build a successful business even in a competitive market.