The NCAA basketball tournaments are winding down and on the men’s side, heading into the semi-finals, there are no number one, two, or three seeds (the top 12 seeded teams). In other words, parity dominated.
There isn’t much difference between teams from the major conferences and the (supposed) minor conferences. Basketball seems to be the sport with the most parity. A lot of teams very close in ability and then it comes down to matchups, injuries, and good fortune.
In business there’s more parity than you might think. Multiple companies may look the same, have the same product, and yet some thrive while others barely survive. Why? Here are a few reasons:
- Some have better people, they treat them better, train them better, and people are what make a business.
- Some market better. Getting the word out is not easy. It’s why so many owners have told me they do little or no marketing because they aren’t good at it.
- Attention to processes and improving efficiencies allows for shorter lead times and better margins.
The difference between a highly profitable and not highly profitable is often the little things as per the above.
“Your struggles develop your strengths. When you go through hardships and decide not to surrender, that is strength.” Arnold Schwarzenegger