Can Fintech firms learn anything from Football?

  • Clare Walsh , Consultant at City-i

  • 06.05.2016 01:45 pm
  • Fintech

Leicester City are the supreme champions, having decisively booted away all the legacy teams that crossed their path, systematically vanquishing the challenges of the now not so mighty Spurs, Arsenal, Manchester City and even Manchester United, and yes sadly West Ham too. At all times they remained focussed and confident, never deviating from their master plan. Just one season ago, if anyone had predicted that they would win the world's most coveted football league title, everyone would have said they were nuts. But against all odds, 5000/1 odds, they did it - and they did it in style.

Can the new players in the world of Fintech learn anything from this remarkable performance? How much of the success Leicester achieved was due to luck, and yes there is always an element of this in everything we do? And how much of it was to due to the supreme management skills of Mr Ranieri, the collective determination of his team, and some sparkling individual performances to see off the footballing Goliaths turning their silverware dreams into dust?

Sadly, far too many start-up firms still go under prematurely, not because they didn't have a great idea or because of the lack of need. All too often it is because of the unnecessary own goal of poor management and a lack of well-defined processes and discipline. It might sound a tad old-fashioned, but the fact remains that strong management together with a cohesive and agile business development and growth plan supported by a clear communications strategy are the vital ingredients needed if one is to have any chance of dismantling the established status quo. Contrary to some modern thinking these essential components do not stifle or limit innovation, in fact the complete opposite is true, as they empower success.

Today in all walks of life whether it's football or the commercial world, the greatest leaders are those who truly embrace collaboration, and encourage their teams and individuals to achieve the unachievable. And Leicester City, those wily young Foxes, have proved this in spades. C'mon you Fintech firms!

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