For better or for worse, it is increasingly clear that Premier League clubs are run like businesses. Financial needs dictate transfer policies and infrastructure developments, but there is more to the business of football than just money. Here are three transferable pieces of business advice that the Premier League has delivered over the course of nearly three decades.
Maximise marketing opportunities
Premier League clubs are experts at maximising every possible source of revenue. The considerable viewing figures attracted by Premier League broadcasts and highlight shows are considered goldmines by prospective advertisers, according to CasinoGuide.co.uk. A club’s shirt could purely be designed for aesthetic reasons, but instead clubs have turned that space into profit. Main sponsors are nothing new in football, but clubs have begun to put secondary sponsors on the sleeves or the back of their shirts as well.
This is why, among other companies, many of the biggest online casinos for UK players pay to display their logo on a club’s shirt. In many ways, we could say that social media is the football shirt equivalent for a business. Just as a shirt becomes synonymous with a club, a social media account can be how people recognize a company. Failing to capitalize on that is akin to having empty space on a football shirt. Explore sponsorship opportunities on social media, where you command your biggest audience.
Look to the long term
The ‘new manager bounce’ is a concept that a new man brings fresh ideas and an upturn in results for a squad that was stagnating under the previous boss. It sounds great on paper, particularly if you’re the person who fired the old manager or if you are the new manager. However, research by the 21stClub in 2017 argued that the new manager bounce is nothing more than luck or natural variance. This research came to light after six Premier League clubs changed their boss by the end of December in the 2017/18 season.
Two of the new managers couldn’t stave off relegation and three were soon let go after alienating fans with their turgid style of football. These bosses were brought in to fight fires, but ultimately wasted time in which a new, long-term manager could have been implemented ideas to reshape the club for the better. A long-term strategy and an ingrained ethos are integral to sustained success. Make appointments based on a person’s ability to fit in for the next five or ten years. While it might not pay off immediately, have faith in the project.
Create a positive atmosphere
The clubs that consistently meet or surpass their targets in the Premier League are those that have cultivated a happy dressing room. Leicester’s title win in 2015/16 is the perfect example of how team spirit can propel a club (or a business) to outperform rivals with far more financial resources at their disposal.
A happy work environment is not a guarantee of success, but true success is near impossible without a happy work environment. Ensure that everyone has a work/life balance that meets their needs, and reward exceptional work. Leicester boss Claudio Ranieri treated his players to pizza after one impressive match, which is not a common occurrence in football.
With the global reaches and vast budgets of Premier League teams, it would be irresponsible for a sporting club to not approach certain situations from a business perspective. These three strategies will work just as well in the workplace as they have done on the pitch.