What Entrepreneurs Can Learn From The New College Football ...

Graphic looks at the College Football Playoff bracket for the first 12-team playoff.

Associated Press

At the end of every college football season, some fans are never satisfied with the national champion or the title game's competitors. The NCAA's latest attempt to address this complaint is a revamped College Football Playoff (CFP). It expanded from four to 12 teams. Yet, as predictable as the lunar cycles, the changes have met mixed reactions. The new format was meant to improve the system. It has had unintended effects but also offers opportunities to learn.

College Football Revenue Expansion

SOUTH BEND, IN - SEPTEMBER 17: The Notre Dame Fighting Irish mascot carries the school flag on the ... [+] field before the game against the Michigan State Spartans on September 17, 2005 at Notre Dame Stadium in South Bend, Indiana. (Photo by Elsa/Getty Images)

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The expanded CFP presents a clear opportunity to generate significant revenue. More teams mean more games. This boosts ticket sales, broadcasting rights, and merchandise. Yet, this financial growth comes with risks. Critics have raised concerns about the potential impact on players and fans. Longer seasons strain athletes and can cause burnout. Players and fans, who must invest more time and money to follow more games, may suffer. These factors may reduce the excitement of the CFP experience. This, in turn, risks its core value.

That said, early ticket sales for the opening weekend suggest it will be a big success. Critics can quickly attack the new format. Yet, the NCAA's willingness to innovate provides valuable lessons for small businesses.

College Football’s adaptability to change

LINYI, CHINA - NOVEMBER 05: A live streamer sells clothes via live streaming on a smartphone at an ... [+] e-commerce park ahead of China's Double 11 shopping festival on November 5, 2021 in Linyi, Shandong Province of China. (Photo by VCG/VCG via Getty Images)

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The expansion shows a willingness to adapt to college football's changing landscape. It addresses calls for a broader, more competitive postseason. This shift acknowledges the sport's changing nature. It must stay relevant and engaging for fans.

Adaptability is crucial for small businesses. Trying new ways to connect with your audience and show your brand can be transformative. One thing to consider is the trend of live streaming shopping on social media platforms. This new trend is expected to reach $1.2 Trillion Globally in 2025, a new Accenture study finds.

One of the more exciting new platforms is an entire environment created for live selling is Whatnot. Dan Schlossberg from Forbes.com, reported that Whatnot sellers generated $2 billion in live sales from January through September alone, and revenue and engagement continues to grow.

College Football’s risk of scaling

The old CFP format emphasized regular-season games. It made bowl season, held from late December to early January, feel exclusive. This was a much-anticipated time for fans and businesses that hosted these bowl games. It drove revenue and boosted tourism where the games were held. An expanded playoff potentially could devalue the non-CFP bowl system by over-saturating the postseason.

Growth is exciting, but it involves complexity by its nature. Rapid scaling without adequate planning can overwhelm a business. Invest in the necessary resources, systems, and expertise to grow significantly. Neglecting these steps can result in inefficiencies, strained operations, and missed opportunities. Something the new CFP is keeping in constant balance.

dollar notes ripped in pieces

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A key risk in scaling is cash management to drive growth. The fast pace of scale and the demand of your product can strain cash flow, creating a cash gap. This cash gap may harm your reputation if you can't fund growth until clients pay their invoices, or worse meet consumer demand. Manage your cash flow with determination. If you can’t fund it, don’t do it until you’ve identified solutions to fill the gaps reports India Martin, Forbes Coaches Council.

College Football keeps evolving

As the first 12-team playoff begins, stakeholders will watch its execution and reception. This season's results will likely prompt changes. They may include expansions or a revised selection process. The expanded CFP offers great opportunities, but it requires examining its wider impacts.

For fans, enjoy the new show in College Football. Take this opportunity to reflect on business owners: What can I learn from this process?