Yes I am jumping on the band wagon, and there aren’t really any spoilers here as such but, being the business minded individual I could not help but notice that Game of thrones has some parallels with business. i don’t relay want to do an episode by episode breakdown on this front, so this is a high level list of observations from the final series.
A product/marketing campaign which worked in one market may not translate to another easily.
Building a brand in one market does not mean other markets are aware of your brand and you may need to start again from scratch, it will take time and trying to rush it will only result in push back and potentially be very frustrating, be careful that those frustrations don’t boil over and you may end up burning some bridges. (I know groan)
Careful who you get into bed with, (in the metaphorical sense) they may only have their own self interests at heart.
This may be for the right reasons, so its important not to judge obviously, I guess it comes back to that old saying ‘beware of Greeks bearing gifts’ of course that’s not a slight on the people of Greece, its just a saying to warn of false friends.
The value of a great team will out weigh the sum of its parts.
I am sure we all have had first had experience in this, but I 100% think one of the core factors for success is to focus on your strengths and outsource your weaknesses. Again being selective about to whom and how.
Always pay your debts.
Yes that’s cringe worth low hanging fruit I know, but this is not just in terms of money, but in terms of returning favours to those that have helped you along the way, sometimes that takes the form of ‘pay it forward’.
Someone will always come along and try to put you out of business, either directly or indirectly.
I remember speaking to a very successful business man once at a networking event, and I asked him what he thought was the best advise for someone looking to achieve his level of success. I admit this is not verbatim, but a short version of his response. Basically it boiled down to something I have heard others such as Richard Branson and the unrelenting Gary Vaynerchuk say, ‘Every day I wake up and try to figure out how to put myself out of business’, ‘because if I don’t, someone else will’. The point being, think about the things the competition may do to which takes customers and ultimately revenue away from your business, be that intentionally or unintentionally. Then go do that before they do, or take steps to protect your business from that threat.
A good network is an invaluable resource.
This almost goes with out saying, but after 4 major moves in my life, I can tell you from personal experience, the single biggest mistake I ever made was undervaluing the power of my existing and potential network. When I learned to embrace it, it empowered me to do great things.
Your brand is your biggest asset, work hard to grow it and then protect it with everything you have.
Understand that your logo is not your brand, that’s ‘branding’, your brand is the experience that your customers, stakeholders and extended network have when they interact with you and your business.
Do not under estimate staff morale and culture as a way to influence productivity.
Happy staff = productive staff, and more likely to represent your brand better. I would add that happy staff are loyal staff, and will become more like family than employees, especially if you go the extra mile, to draw on Richard Branson again, put your staff first and they will put your customers first, you can watch him talk to this here.