I can’t believe it!

I can’t believe it!

I say it every year around this time.

It’s March Madness.

Each year, the basketball tournament captivates me.

There’s…

Unpredictability.

Passion.

Cinderella stories.

Buzzer-beaters.

And, most importantly, upsets.

But why do upsets happen?

And what insights are there for our life and business?

In NCAA basketball, teams are seeded for the tournament.

Rankings are based on records.

Strength of schedule.

And the abilities and reputations of players and coaches.

Yet, despite all these factors, upsets always happen.

In my experience as an athlete, entrepreneur, and sports fan, most upsets occur because of mindset.

The favorites face immense pressure to win.

It’s a heavy burden to bear, so they strive for perfection.

They become tense, which leads to mistakes.

Underdogs, on the other hand, don’t have the same expectations.

With nothing to lose, they play fearlessly and focus on giving their best.

Underdogs who pull off upsets play to win.

Top-ranked teams who fall short play not to lose.

In business, high-growth startups and disruptive challengers embody the play-to-win mindset.

They embrace risks, are provocative, and accept mistakes, continuously iterating.

In contrast, big companies often play not to lose.

They’re risk-averse, stodgy, and fearful of making mistakes, stifling innovation.

Think about your personal life, professional life, and business.

Where are you, a top dog?

Where are you, an underdog?

Make sure you’re playing to win.

Not to “not lose.”