Top Lessons Small Business Owners Can Learn From Game Of Thrones

The Game of Thrones universe is one that is both tantalizing and brutal which is why it has successfully pulled in millions of viewers worldwide. At the crux of it, it is a fantasy show, but it speaks of the harsh truths that are rife in our own world.

So while the plot is fictional, the world of Westeros is a place with genius minds from whom we can learn a trick or two, especially if you’re someone trying to make your small business work.

So after taking a sneak peek into the business minds of Westeros, we have put together 4 lessons that small business owners can learn from the intricate and highly twisted plot of this series!

     1. When you make a mistake, acknowledge it

Daenerys Targaryen aka Khaleesi was once upon a time a meek young girl forced into an arranged marriage. We all know what happened after that as we were there to see her emerge out of it as a leader, and a good one at that. Thanks to her dedication and commitment to free slaves in cities she conquered, she gained a huge number of followers. You will see her go from one city to the other setting slaves free and fight injustice with justice. But she soon realises that the cities fall back to their old ways once she leaves. Because this is unacceptable to her, she returns to rule as their queen.

We see the Mother of Dragons acknowledge the fact that she made a mistake and she is back to fix it for good. This, right here is a priceless business lesson. Many times business owners ignore the mistakes they made and let them fester without planning to attend to it. Instead of turning a blind eye, do what Khaleesi did – acknowledge you screwed up and concoct a solution to set it right.

Not only your customers, but also your employees will appreciate this big time!

  1.   Public opinion will depend on the kind of company you keep

As a small business owner trying to make a place for yourself in the market, you need to be careful with the kind of employees, colleagues and friends you choose. This is because as a business owner you’re now subject to public scrutiny more than ever. Probably not as public as Sansa Stark when she was betrothed to King Joffrey, but you get the picture, right? Based on the kind of company you keep, your employees, customers and colleagues will make assumptions about you. Sansa was deemed as a traitor as her father was condemned a traitor. And we all know the ensuing public opinion and what that did to her.

The actions committed by those around you will reflect on you too. If you’re working in partnership with someone, it is crucial for both you and your business’s reputation that these partners are credible and have a goodwill of their own.  This is applicable in terms of employees as well; so when recruiting them, ensure that their interests lie in prioritising the customer. Both in King’s Landing and the real world, the impression you have counts a lot!

  1.   Build a positive reputation through your work

Right off the bat, as a small business owner, you’d want your business to have a trustworthy image. If you offer quality products and service, have the right employees on board, provide good customer service and give back to the community, overtime you will build a positive reputation and brand image of your company. If you build such an image, your business will be equipped to deal with any crisis and still manage to maintain its goodwill and credibility.

If Tyrion Lannister had paid even an ounce of attention towards building a good, positive image of himself before he was put to trial for murdering Joffrey, he’d still have a chance of being saved from trial by combat all based on the public opinion. However, we know he didn’t pay much mind to it and thus the entire crowd was against him.

As a result, we saw how our favourite dwarf faced death as a punishment for a crime he had nothing to do with.

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  1.   Go prepared when applying for a loan

Given the scope of a business, at some or the other point, you might require a loan, just like Stannis Baratheon did. When Stannis and Ser Davos asked the Iron Bank for a loan they were bombarded with tough questions. The ferocious bankers from the Iron Bank had very little faith in Stannis, until the duo won them over with their plans and explanation.

It is the same in real life. Of course you want a bit of loan for some financial cushioning but so do 100 other people. What is it that will make you stand out from the crowd? When you sit down with a banker, they’ll ask you 20 questions about the whys and hows. This is for them to understand whether you are deserving of their financial help or not.

So before you walk in there, put your head together with your small business accountant and have a well-written business plan ready at your side. This will help you spearhead any question that the bankers throw your way and your chances of bagging that loan will be pretty good!

And there you have it… crucial business lessons from the most popular show of all time! Put these to use and see how it nudges you in the right direction while making your business climb the ladder of success!

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