CEO and Founder of a very particular company iSportconnect, Mr Sree Varma, guides us through the steps of making sports executives start new business relationships with one another.
What’s underneath it all
I came up with the idea for iSportconnect after spending many years working in the business industry of sports. I became increasingly frustrated that I had to use different websites and tools to connect with colleagues, search for opportunities and establish new deals. I found I wasn’t alone so I soon developed iSportconnect as a single, efficient platform for members to engage in networking, seeking business opportunities and discussing the latest news in the industry. To my mind, no-one else was doing it at the time, so I took the initiative and did it myself.
Over the last year we have seen impressive growth and interest from businesses in sport wishing to use the website. The appetite to connect with other top executives in a professional and sleek environment such as our exclusive events has been immense. Of course, sports business is inextricably linked to the changeable nature of sport itself, so we have really put a special focus on the editorial side of the business to keep our members informed. In the past year we have launched iSportconnect TV as the first online TV channel for the worldwide sports business industry. Through daily shows, features and exclusive interviews, we can provide real and valuable insights for the sector.
The business bonds
The profile of sport executives is always changing, but essentially their target remains the same. You will get people trying new ideas and there are a lot of younger executives keen to make their mark. But there is no replacement for experience, and those who have been around a lot longer benefit from their visibility and familiarity. A good and trustworthy name carries a lot of weight. That’s why networking and maintaining relationships are key – which is why we provide the ideal platform to do so.
The best way for sport executives to start new business relationships is to showcase what they can do. The sports business industry may be one of the only sectors in the world to have been largely recession proof but people still want value for money. There are many sports business conventions around these days that provide ideal conditions to meet and interact with companies and executives from around the world. The outlay may initially put some people off, but connections you may make could prove to be invaluable. To establish a new relationship you need more than a good idea – you need something to show to someone to prove that you are serious – in return, they’ll take you seriously and give you respect for your planning and preparation.
In Formula 1, the important thing for executives to remember is communication. The business is worth billions nowadays but that could change if the numbers of people watching start to decrease. Formula 1 hasn’t been afraid of change throughout the years, but there is a possible danger that businesses in the sport can be too introverted. Looking at how other sports industries have developed and being open to new ideas can help. Most of all, it’s about communicating openly with other key people of the industry about the best way to move forward.