In a world where attention is the new currency, college football just gave us a masterclass in adapting to change. The sport's recent transformation offers valuable lessons for any business trying to stay relevant in today's attention economy.
Three key moves define this reinvention:
First, they followed the money. By expanding the College Football Playoff to 12 teams, they turned what was already valuable—playoff games—into an even bigger asset. ESPN's $1.3 billion TV deal proves that when you have something people want, expanding access can multiply its value instead of diluting it.
Second, they embraced disruption rather than fighting it. After decades of treating player compensation as taboo, college football adapted to the new reality of name, image, and likeness (NIL) deals. When the Supreme Court unanimously sided with athletes' rights to monetize their own images, the sport didn't just comply – it transformed the change into a feature that's now driving even more interest in the game.
Finally, they recognized that authenticity matters more than tradition. While this might alienate some traditionalists, it's attracting new audiences who appreciate the transparency of the modern system.
The takeaway?
Sometimes, protecting your core product means being willing to reinvent how it works fundamentally. College football is still about tribal loyalties and athletic excellence – but its business model has evolved dramatically to ensure those core elements remain financially viable in today's economy.
This reminds me of how Steve Jobs initially resisted the iPhone because it meant this new technology would kill the iPod. To evolve in the business world, you need to reinvent your product, business model, or both!
How is your business model changing in today’s economy? Are you strategically adjusting your product or service? I would love to hear from you.