Easily one of the most popular shows and novels worldwide right now, Game of Thrones returns to HBO April 6. Audiences love this series because it is full of intense drama, conflict and suspense. Although George R.R. Martin’s epic fantasy is set in a fictional world, there are quite a few incredible lessons that we can apply to our daily lives and especially to the way we conduct business. PADGETT BUSINESS SERVICES® presents a two-part series on the business lessons to be learned from Game of Thrones.
[WARNING: this article may contain spoilers.]
Lesson 1: Have a Strategy in Place
For those unfamiliar with Game of Thrones, each of the noble houses of the realm has a family motto. The motto of House Stark is, “Winter is coming.” To put it simply, this phrase signifies the scarcity of resources, general hardships and change that winter brings. One of the most important things that businesses can do is prepare for the future. Keep an emergency fund in place at all times, instead of reinvesting all of the profits right away in the company. Those funds will be invested back in the company at some point, and storing them to use in the metaphorical winter can be the saving grace of the company that prevents you from going into even more debt by borrowing in large amounts from banks.
Lesson 2: Always Pay Your Debts
Members of House Lannister, the wealthiest house by far, are fond of saying, “A Lannister always pays his debts.” They are so good at keeping their debts that a Lannister’s word is considered to be as good as gold. In business (and indeed in personal life as well), it is incredibly important to stay focused on debt reduction. When the company goes through a dry spell, debt destroys any flexibility that the company may have. In Game of Thrones, there are several scenes in which a character must face the consequence of being unable to repay their debt. You can imagine what these consequences may look like without us spoiling any of the plot points for you, but one striking example involves a [caution: major spoiler] wedding of reddish hue. Remember, winter is coming so pay off your debts now while you can.
If you are watching past episodes of Game of Thrones to catch up for the Season Four premier, see what other business lessons you can learn from the rich world of The Seven Kingdoms. We will conclude our Game of Thrones business lessons next week with Part Two. PADGETT BUSINESS SERVICES® has been helping small businesses succeed for more than 40 years through personal relationships and efficient service.