If there is a leader for the best business venture , in sports, in the past decade, I believe, without a doubt, it would be T20 format of cricket.
The game has undergone changes to suit the viewer’s (customer’s) needs, it has become a shorter version and results are known in a matter of just 3 hours! This is now similar to watching a short and crisp football or hockey match.
Some TRP increasers are:
* From a slow cricket test match which went on for days together, and finally ending in draw, cricket now produce a results in a jiffy.
* Overwhelming sponsorship from corporates across world.
* Unlike football for which world cup is held once is 4 years, T20 has a World Cup every alternative year.
* The Indian venture (IPL) is more interesting, unlike earlier, instead of Indian cricketers going overseas seeking opportunities, BCCI’s business acumen made international players to come over for IPL.
* What’s even more interesting is that BCCI was able to sell the concept of player bidding to corporate giants in India. Even when Indian government did not permit IPL – Season 2 to be hosted within the country citing security reason, it played no hamper for BCCI, as they drew an alternative plan and came out successfully in revenue collection with perfect conduction of the matches.
* Make hay while the sun shines! …. it holds true with T20 and more particularly IPL since the mega-event is now being held every year. It might even attract more fans, since now the game is focusing more towards power play instead of technique. Quite soon you would find other countries being attracted towards this format of cricket.
* Its might be good learning for Indian Businessman in various business verticals to innovate at this time of recession and come out with products, where in not only Indians are benefited but also skilled workers from across the world get attracted.
If the league starts making profits, then we may not need to worry about brain drain, where natives roam across the globe looking for opportunities.
The bottom line, India with it’s 100 billion population has a huge market, can prove to be a successful market, if one taps it rightly.