Exploring Ikigai in Sports

Ikigai (ee-key-guy) is a Japanese concept that signifies the purpose and meaning of life. It's about identifying your purpose and building a life around it. In the context of businesses, this can be extended to be seen as the reason for their existence.

There are four key components that form Ikigai:

What you love: This includes one's passions, beliefs and values.
What are you good at: These are the skills and knowledge that enable you to perform a few tasks effectively.
What you can be paid for: This is the stage to identify the monetisation of your skills and knowledge.
What the world needs: This is the most critical component that brings your purpose to life. It is essential to be aware of the problems that exist in the world to use your passion, mission and talent for societal good.

As we delve deeper into the world of sports business and purpose-driven strategies, let's explore how this ancient Japanese concept, Ikigai, takes on new meaning and relevance in creating purposeful and impactful outcomes.

How to find your Ikigai as a Sports Organisation

Using the power of Ikigai to craft your goals can be a simple yet effective way to kick-start your purpose-driven journey.

WHAT YOU LOVE

As an organisation, this component involves your core values and beliefs. What drives your business and what are your employees passionate about? This can be diversity and inclusion, mental health, sustainability or any other similar causes.

Write a list of all these social topics without worrying about the other sections at this stage.

Take a leaf out of Nike's manifesto of breaking the barrier and building a more inclusive world through the power of sport. This passion is reflected in their campaigns across multiple areas ranging from community development to sustainability and climate change.

WHAT YOU ARE GOOD AT

Identify your strengths as a business. Does your workforce excel in marketing or is it more product-driven? Do you have an innovative core or is it more about consistency and dependability?

Answering these questions early on can bring out your strengths and any areas that might need improvements

For example, organisations like Women in Sport and Women in Football are passionate about creating an inclusive society and are particularly good at bringing this to life from the grassroots level. Their leadership and workforce possess the skills to champion this cause, which is validated by the success of their campaigns.

WHAT IS THE MONETISATION POTENTIAL

As a purpose-driven business, while your core is not made up of revenue and profit margins, it still is important to generate financial returns to sustain the organisation. Understanding how to utilise partnerships and investments to help your cause is a vital step in the long-term success of your goals.

Organising fundraisers and charity events are examples of using money as a means to achieve a higher purpose.

Moreover, research shows that the majority of people are willing to pay more for products and services that have a positive social and environmental impact. This should reassure organisations of the market's need for purpose-oriented solutions.

WHAT DOES THE WORLD NEED

The 'world' refers to anything from your local community to the society as a whole. Asking yourself questions like 'What could people do more/differently?' 'What is the world lacking?' 'How could you be more involved in your community?' can help clarify the world's needs.

Surveys, feedback forms, focus groups, and fan interactions are some great ways to understand the pain points of your audience and align your Ikigai to serve those needs.

Benefits of Ikigai

Employee/Athlete fulfilment: Clear communication of your business's Ikigai brings clarity to the roles of your workforce. Recognising that deeper purpose and viewing themselves as part of the bigger goal motivates the employees to push themselves. Moreover, encouraging your employees to find their own personal Ikigai can shape their holistic development which positively affects their mental health and productivity.

Community Impact: Purpose-driven businesses work towards the betterment of society. Having purpose at the centre of your decisions will benefit society in the long term. Regardless of the size of the organisation and the desired reach, it is possible to create a positive change in your local community or humanity as a whole.

Fan engagement: As described previously, fans engage more with brands and clubs with a clear sense of purpose. This creates long-term loyalty that is unaffected by on-the-pitch performances and other external factors. Understanding fan needs and co-creating value with them is the most effective way to build trust and brand affinity.

Incorporating Ikigai into the world of sports isn't just a choice; it's a powerful step toward a purpose-driven future. It empowers employees, engages fans, and fosters a sense of purpose that extends far beyond the game. By aligning passion, skill, market need, and societal good, sports can become a catalyst for positive change. So, let Ikigai be your guiding star as you score goals not only on the field but also in creating a more meaningful world through sports.