Business Lessons From Game of Thrones

Note: You have been warned. This post contains spoilers to the Game of Thrones up to the first 3 episodes of the final season.

I am a big fan of Game of Thrones. This final season is especially exciting. The start of each weekend brings a level of anticipation for Sunday night to roll around in order to catch the next episode.

We are already 3 episodes into this season with only 3 more to go. There have been 2 Sundays when I was out having dinner and found myself cutting my dinner short to ensure I left myself plenty of time to make it home for Game of Thrones.

The obsession with Game of Thrones started a few years back when, after 5 seasons on television, I’ve decided to give the show a try after hearing so much great things about it. I was instantly hooked to the show and caught myself binge watching the first 5 seasons in a matter of a couple of weeks.

I just couldn’t stop myself from binge watching. I still remember, despite telling myself that this would be the last episode of the night, I ended up watching at least another one or two episodes because I couldn’t wait to see what happens next.

A month ago, in anticipation for the final season, I decided to re-watch the first season of the Game of Thrones. It’s an interesting experience to be able to see some of the foreshadowing of events to come contained in season one. It is also interesting to be able to see the development arc of different characters from where they were at season 1.

The Game of Thrones might go down as one of the best shows on television ever. I couldn’t wait for the final three episodes to see how the adventure ends. Hopefully, it will be a great ending and one that is deserving of the strong following.

As we continue on the journey with Dany, Jon, Tyrion, and the rest of the crew, I couldn’t help but reflect on some of the many business lessons we can all learn from Game of Thrones.

Understand The Other Competitors/Players In The Game

In season 1, Ned Stark wasn’t well versed in handling the political arena. He was better suited to be a fighter than to be the Hand of the King. The small counsel was made up of seasoned players in the game of politics. Ned Stark was simply out matched.

He didn’t fully understand the other players in the room. He also underestimated Cersei Lannister and what she is capable of doing. Ned also placed trust in Little Finger which was a terrible move. Because he never truly understood the motives and desires of the other players, Ned lost his head in the process.

When entering into a transaction or a deal, it is best to understand who you are competing against and who the other players are in the transaction. There is a cliché in poker and it’s applicable in business dealings – if you look around the table and couldn’t see the sucker, then you are it.

Don’t end up like Ned Stark with your head on a pike; understand your competitors and other players in the game.

Follow Your Passion

Arya Stark always had a passion to master weaponry, even at a young age. She followed her passion and didn’t bend despite the expectation placed on her to grow up following the path of a well cultured lady.

She trained with the best swordsman from Braavos. She continued her training with the Faceless Man. She continuously practiced and refined her skills in sword fighting. She found her passion early on in her life and chose weaponry over knitting.

Her fighting skill was used in the end to save all of humanity by ridding the world of the Night King.

Warren Buffett and Charlie Munger both provided similar advice to young people. Warren Buffett is quoted as saying “when you go out in the world, look for the job you would take if you didn’t need the money.” Charlie Munger at age 93 also added, “I’ve got some advice for the young: If you’ve got anything you really want to do, don’t wait until you’re 93.”

Don’t Get Cocky Or Overconfident

Robb Stark, the eldest son of Ned Stark, was brought up to one day lead House Stark and to inherit the title of Walden of the North. Upon his father’s capture in season 1, he led the Army of the North against the Lannisters and the crown.

Despite not having any experience in commanding an army, Robb was a great tactician during the War of the Five Kings. He won battle after battle against the Lannister army. His reputation increased after each battle. He was definitely doing justice to his nickname Young Wolf.

Well, then came the Red Wedding, and you know everything changed. Robb, his men, and family members were all slaughtered over dinner and wine. Just that night alone turned the tide of the war.

Robb got caught up in his own hype. He was letting his victories get to his head and he wasn’t guarded enough to win the war. He grew overconfident and conceited as his reputation and legend grew.

Don’t be like Robb Stark. It’s good to remain humble and always on guard. Do not become overconfident. Understand that the tide can turn quickly against you. Be prepared at all times.

Surround Yourself With Great Mentors, Coaches, and Advisers

We have already seen what Arya Stark can do after having trained with some of the best fighters out there including Syrio Forel, the First Sword of Braavos, and the Faceless Man. Arya surrounded herself with top-notch coaches and, in turn, she became one of the best swordsmen out there. It enabled her to survive the danger of being out in the world herself and led to her ending the war with the undead.

Conversely, Robert Baratheon chose Ned Stark to be his Hand. While Ned Stark is a man of integrity and loyalty, he was not the right person for the job. As previously mentioned, Ned was a better fighter on the field than in the political arena of governing. Ned Stark, unwittingly, put the actions in motion which led to Robert Baratheon’s death. A bad adviser can be very costly.

Even people who have reached the highest levels in their respective professions can use the help of great coaches, mentors and advisers. Tiger Woods, for example, continues to surround himself with a great team of people including a swing coach, a trainer and caddy.

Surround yourself with great mentors, coaches and advisers and avoid at all costs the bad ones.

Always Keep To Your Words

When Tyrion Lannister was captured by Catelyn Stark and brought to her sister at the Eyrie for trial, Tyrion was able to get some help from both the sky cell prison guard and Bronn. The prison guard and Bronn did not help Tyrion out of the kindness of their hearts but knew there would be riches for them if they did Tyrion’s bidding.

Remember, Tyrion, as a prisoner, did not have any gold on him. But he traded on his family’s good name and reputation for keeping to their words. “A Lannister always pays his debts” he said a few times during the imprisonment. Those people trusted they will get paid once Tyrion is freed because of the trust the Lannister family has established by keeping to their words. Unsurprisingly, once Tyrion was freed, both the prison guard and Bronn got rewarded handsomely for their efforts.

On the other hand, if you break your words, there can be dire consequences. Look no further than to Robb Stark, a man of supposed integrity. Robb broke the marriage pact between House Stark and House Frey, resulting in the events of the Red Wedding. Lord Walder Frey sought his revenge against Robb Stark who broke his promise of marrying one of his daughters and, in the process, humiliated the Frey family.

Always keep to your words in the work place. That is the quickest way to build trust and a good reputation with your colleagues and customers. If you commit to a deadline, keep to it and don’t make excuses for why the deadline cannot be met. If you commit to handling a project, make sure to see the project to completion and not make excuses for why you have to stop moving the project forward.

Treat your word and your reputation as sacred.

Leverage The Importance Of Lenders

Gold can help win or lose a war. Gold is also important in running a city or a well-oiled government. That is why the Iron Bank of Braavos is so important and powerful. It has one of the greatest wealth in all of the free cities and is ruthless on its collection.

The Iron Bank’s method of collecting from defaulted kings is to fund the king’s enemy. Once the enemy assumes the kingdom, the new king agrees to not only pay back his debt but also of the deadbeat predecessor.

Therefore, it pays to have a great relationship with the Iron Bank. Also, the Iron Bank can become a great ally if one is looking for funds to raise an army to fight for or defend the throne.

It is important to understand the importance of a lender in achieving your end goal. Proper utilization of debt can help secure your financial goals a lot fastest.

I am a big fan of real estate and I believe real estate should be a cornerstone of your portfolio. One of the benefits of buying real estate is that I can obtain leveraged financing from banks. On an upward trending market, the leverage can help tremendously increase my rate of return.

Leverage is also important in that it allows me to buy more real estate properties than I would otherwise be able to afford. It helps me scale faster in building my real estate portfolio. Borrowing from a bank is also how someone I knew built a real estate empire of over 30 properties in 10 years.

Understand how to utilize financing to your advantage and know the importance of lender relationships.

Don’t Let Your Weaknesses Hold You Back

After the drop from the tower on season 1, Bran lost the ability to walk. He needed to get around on a wheelchair. However, that never stopped him from becoming the all-knowing Three-Eyed Raven. His knowledge and gift as the Three-Eyed Raven helped his family claim victory over the White Walkers.

Tyrion Lannister, despite being born of a small physical stature, knew the only way for him to be successful is to work on his smarts and knowledge. He consumed many books at a young age and rose to be a Hand for one king and one queen. He didn’t let his physical limitations define him and what his abilities can allow him to do.

Do not let your own weaknesses hold you back. Learn to capitalize on the strengths you have and, hopefully, those strengths can overcompensate for your weaknesses. Additionally, you can also look to improve on your weaknesses. Do not let them be excuses on why you can’t achieve great things.

 It Is Never Too Late For Redemption

People can make mistakes in life and in their finances. It is never too late for redemption. Look at all the wrongs of Theon Greyjoy. He was still able to redeem himself at the final moment in the eyes of Bran Stark. Not only was Theon instrumental in fending off the White Walkers in his protection of Bran until Arya can strike the final blow, he also helped free his sister from captivity.

Warren Buffet made over 99% of his wealth after the age of 50. If you haven’t reached the level of financial success as you would have liked, it is truly never too late to start.

No matter the professional or financial mistakes made in the past, it is never too late for redemption.

Team Up With A Great Partner

The final two seasons saw the alliance between Dany and Jon Snow. They both understood in order to win the war against the White Walkers, they cannot do it alone. They need each other’s help and support.

Of course, you know what happened when two great leaders in Dany and Jon team up. They ended up beating the odds and winning the battle against the White Walkers. Judging from the preview of the final season episode 4, these two have now set their sights on King’s Landing and the Iron Throne. It is no small feat to defeat both the undead and the army under the command of Queen Cersei.

It is a good thing Dany has a great partner in Jon and Jon has the same in Dany.

When building out a business or in life, team up with a great partner. If you find the right person, the partnership formed can be much stronger than if you approach it on your own.

To the audience: Do you agree with the business lessons above? What other business takeaways can you find from watching the Game of Thrones? Are you as excited to see how the series end as I am?

SoM @ SportofMoney.com

Many people work hard to better their physical and mental health. What about their financial health?

I started this blog back in 2019 to help people better their financial health as well.

My financial journey began with tens of thousands in student loan debt. Over the span of 20 years, I am close to achieving financial independence.

I truly believe anyone can get to strong financial health. Hopefully, this blog can help you on your financial journey to greater wealth and financial independence.

You can read more about me here.

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