Heading into the second half of Super Bowl LI, the Atlanta Falcons held a 21-3 lead over their opponents, the New England Patriots. Despite their massive early success however, they eventually lost the game.
The Falcons were facing one of the hardest teams to conquer in the entire league, so it was expected that they’d have a difficult time. However, the game was very winnable until they made some fundamental errors.
The business world isn’t too dissimilar from the NFL – it’s a competitive arena that’s tough to conquer. But despite the challenges business owners face, success is possible provided they don’t make similar fundamental errors.
So what can we learn from the Falcons’ defeat? What errors did they make on the field that we can learn from in the business arena? We’ve got a few theories:
They didn’t pivot when circumstances changed
Have you ever suggested a change in process or strategy, only to be met with the response that no changes are needed because “it’s always been done that way”?
When a set of habits, rules or systems work for an extended period of time, we tend to get attached to them. It’s human nature. After the painstaking anxiety and grueling mental taxation of constant trial and error, the last thing we want to do when we find a solution that works is change it. It’s much more comforting to believe that the problem is permanently solved.
But sometimes, change is necessary. It’s called adapting, and in a world that shifts as much and as drastically as the business world, it’s absolutely crucial to surviving.
When a business alters its strategy in light of new information or changes, it’s called a pivot. The Falcons played aggressively to gain their initial lead, but part of their downfall was that they continued with that strategy even when it no longer worked. They would have fared better had they reacted to the changing circumstances of the game – pivoting to a more slow-paced, clock-exhausting and safe strategy.
They didn’t handle risk appropriately
Risk is something that business owners must inevitably deal with. By definition, Risk can’t be predicted – but it can be measured and accounted for.
It’s important to understand which situations will be inherently risk-heavy, and which situations can be handled more carefully. The key is to take risk into account within your business plans to mitigate its potential harm.
The Atlanta Falcons were an inherently risk-heavy team. Their strategy revolved around a heavy passing game, which can lead to big results when executed appropriately but drastic turnovers when mishandled. It was this high-risk approach that caused such a large degree of early success, but it was the failure to adjust in the later stages of the game that ended up costing them.
Assess each situation for its potential reward vs. the level of risk involved. Be risky when the potential reward is disproportionately high, and play it safe when the risk isn’t worth it.
They didn’t trust their metrics
Everything in the NFL is measured: Total passing yards, total rushing yards, yards per player, first down conversions on one team’s side, first down conversions on the other – everything. The depth of metrics within the game is truly remarkable.
In business and marketing, having deep metrics is vitally important. It gives us an objective viewpoint of what’s really happening, which allows us to make decisions based in reality.
The Falcons weren’t relying on their numbers to drive their decision-making when they needed to. They were relying too much on their experience and skills alone. It’s great to be confident in your abilities – but never ignore the numbers.
