The world has been occasioned by yet again another tournament that comes after four years.It is an exciting moment for countries that made it to the World cup 2014 tournament and a chance to prove their talent in the game. The tournament has experienced high number of goals than ever before, with some of great teams (e.g. Spain) bundled out in group stages and ‘not so much talked about teams’ making it to the quarterfinals. Entrepreneurs can acquire some very practical lessons from the events and stories associated with this year’s world cup tournament which will help them succeed in a big way in their ventures.

1. Make search the epicenter of the webpage:

The quarterfinal match between Netherlands against Costa Rica left both sides goal less even after going to extra time after playing the normal 90 minutes. Nevertheless, the Dutch coach Van Gaal had a plan in case of a penalty scenario. Tim Krul came in before the blow of the whistle as Dutch’s favorite goalkeeper to guard their side of the net, and true to the coach’s intentions, Tim made two saves to deny Costa Rica a chance to the semis.

Lesson:As an entrepreneur, it is normal to face challenges in your business and it is up to you to make wise decisions by planning in case of a worse scenario. Anticipate losses or any other issue and have a backup plan.

2. Experience is an asset

This follows many sporting activities and generally in life. To make it in most competitions such as the World cup requires experienced players and teams. Just scan the teams that made it to the quarter and semifinals list- Most of them have a high FIFA ranking having reached to the semis and finals in earlier tournaments. In addition, the teams are made up of experienced players who play in major leagues.

Lesson:In business, you get paid either with money or experience or both. Most of us settle on money and do not capitalize on experience. Treat every venture as an opportunity to learn, gain experience and it will help you survive and succeed in the market.

3. Even the greats lose

We have seen great big teams losing in the group stages, something that was unanticipated. With Spain, the defending champions of the World cup being hammered 5-1 in their opening match; it was a completely new twist of things for the team.

Lesson: Even as you set your best foot forward, remember you still can fall. However, it does not stop there; you have the chance to redeem yourself once again.

4. Don’t put all your eggs in one basket

The talking point about Brazil’s humiliating 7-1 defeat by the German’s revolves around Neymar and Thiago’s absence. Brazil’s coach,Scolari seemed to lack an alternative to put a strong replacement of the two. The whole country was in despair as they watched their national team concede five goals at the stop of the first half.

Many foresaw the loss because Brazil over relied on striker Neymar to lift the team, but his injury on his back causing his absence.

Lesson: As an entrepreneur, you should not put all your hard-earned savings on one investment all at once. Do feasibility tests of your business ideas and spread your risks in different areas. Always be prepared with an alternative if something fails (plan B).

5. Branding carries the day

If you have noticed, most companies have taken the advantage of World Cup to create products and services that revolve around it. An example includes

  • Electronic company producing flat screens TV that promises best viewing of the matches.
  • Beverage companies marketing drinks that refresh while watching the matches.

Lesson: Move with the trend, use social media to promote your products and services. For instance, packaging products with a touch of World cup enthusiasm can increase customer base.

6. Before venturing, do feasibility study

Before the start of the World cup, the country experienced demonstrations from Brazil citizens condemning the move of its government of building costly stadiums while its people lived in poverty. However, it is considered a viable venture that would earn the country Billions of dollars in terms of tourist fans that will visit the country, stadium fees and much more.

Lesson: As an entrepreneur, you will have the urge to expand your business or diversify. The most important thing is to do a feasible study and find out if it is a viable venture. At the start, there might be some constraints, but always stand tall and believe in yourself.