What To Learn From IPL and Lalit Modi

I think Lalit Modi, Commissioner of Indian Premier League (IPL) is one of the best brains in the Country right now. He is one of the best businessmen in the world and I am sure there are many people trying to be like him. I always believe that there is NO number 2 in any contest. You have to be No.1 and everyone else can just get a pat on the back for participating.
ICL (Indian Cricket league) was started before IPL but the later overtook it by a HUGE margin. I don't think ICL will ever gain such a popularity.
As a Businessman, Manager and 'always want to win' attitude, these are a few things to learn from IPL & Lalit Modi:
Do it if you think about it - Lot of people tend to have ideas. I am sure the idea of something like IPL might have come to at least a dozen of people but none of them implemented it. Its very important to organize, get rid of fear and do right things at the right time to achieve success.
Money Will Always Come - There is a saying that Money Pulls Money and IPL is the perfect example for it. Lalit Modi along with BCCI has spent crores of Rupees for teams, players etc. The ROI is quiet amazing.
Sell What People Want - Lot of people tend to make things and then try to sell. Lalit Modi knew that people in India are crazy about Cricket and hence he chose the right niche to get in to and make money. People want Cricket & that's what He gave them.
Icing on the Cake - IPL not only has the best Cricketers around the world, but it also has some of the top Bollywood stars in it. A nice blend of Bollywood & Cricket which would interest almost every Indian out there. This for me also looks like a nice backup plan. How? Don't like Cricket? Come here to watch the movie stars jump like kids for their team.
Involve The Best To Get a Best Product - India's top business men, India's top actors and actresses, India's top cricketers. What else does one need to deliver a great product?
Make Friends With Haters/Problem Creators - The only person/committee who might have had problems with IPL is the BCCI. I am not sure how all this was planned but Lalit Modi did an excellent job to involve the BCCI fully in the IPL to avoid any kind of issues with them.
No matter what Business or Job you are in, try and implement these points and I am sure we can have at least some amount of success with whatever we do. Do you agree with me?