The Game of Business

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When speaking in-depth with an executive at a successful Fortune 100 company, I find more times than not that the executive looks at the business and marketplace as a game to be won. Most sales and marketing executives that I’ve spoken with also have a penchant for playing business.

The movers and shakers in the entertainment industry find the creation of their products and services to be game-like as well. In fact, creative people, in general, find their productivity skyrockets every time they view their innovations as a game. So why aren’t the business schools teaching business game strategies?

Three rules in the world of business gameplay must be present to innovate.

RULE 1: LEARN THE RULES

Every marketplace operates under the common assumptions and perceptions of its players. Once you’ve mastered the rules in any given market, you are then able to hyper-focus on the areas that are dealmakers and breakers. You are also able to learn what it takes to introduce new perspectives and disruptive ideas to catapult the industry forward. None of this is possible if you don’t thoroughly know the existing rules.

Back when I attended university, I made a short film that stirred the viewers and gave them hope in their own future. The letters I received suggested that this miracle film needed to get a broader release to touch more lives. I immediately took the film to the 16mm marketplace that had an audience of schools, libraries, churches, and other non-profit organizations.

I printed up a 5.5 X 8.5 catalog for the distributors to promote the film. I provided films to all the distributors for their rental programs. And, I even did radio interviews sharing where the films were available. Then I braced myself to make a lot of money. Three months later, only three copies of the film had been rented. I started asking questions and learned that the distributors never sent out my promotional materials.

No one told me that the distributors bound all of their 8.5 X 11 catalogs into one large book that they gave to their customers. Since my catalog was a different size, they tossed it in the trash. I realized that before entering any marketplace in the future, I’d make sure that I understood the rules.

RULE 2: PRACTICE THE GAME

The game of business is played every day, but the tools and techniques used require developed skills. No one enters a game with ground pleasing abilities because they are natural at it. Sure, some get lucky in their first few months based on what they sensed entering the marketplace, but it’s rare to last longer than a short stint.

The more a person tests out and practices various strategies, the better they get at playing the game. However, no one can rest on their laurels in the world of business gaming because the conditions change with every innovation. The main reason businesses want to innovate is to disrupt their competitor instead of being the one scrambling to reinvent the business due to someone else’s contribution to the marketplace. I read a poster years ago and if I remember properly it said, “Change is scary unless you’re the innovator.”

RULE 3: ENJOY TROUBLE-SHOOTING

Innovation is solving a problem that the rest of the market hasn’t yet thought about. It’s a fun activity and rewarding when your product or service is first to market with clear benefits for the end-user. Coming up with a viable solution worth exploring requires a significant amount of research and brainstorming.

The fuel used in successful brainstorming sessions is called F.U.N. and is the key to the successful play required to innovate.

  • F = Free from Failure: Every idea is a good one because it’s either an element in the final solution or the cause that leads to a better idea. Therefore, failure does not exist, as all aspects of the brainstorming process benefits the system.
  • U = Uplifting in Spirit: The process is affirming and energizing, especially when synergies form from within the brainstorming process that simplifies the team’s effort. This uplifting spirit or attitude typically makes everyone feel like their part made a difference in the final solution.
  • N = Narrative for Market: When everyone gives their personal best and brings to the innovation sessions a diverse background of experiences, a new narrative that will drive the innovation forms to solidify the vision for the product or service. The ability to explain in simple terms what the innovation does and how people benefit from it drives internal communications and sets up marketing with the necessary tools to promote the solution.

The atmosphere of play not only generates great solutions, but it also energizes people and gives them a reason to come to work every day. This playfulness relaxes the logical side of the brain and empowers the creative side, giving voice to all involved in the innovation process. And, with numerous minds working together from diverse backgrounds, it will generate some great ideas worth developing further.

Playing the game of business is a lot of fun, especially when your team wins an additional chunk of the market. It’s also enjoyable to trouble-shoot in advance of realized market problems to have a solution at the time the market is ready for it. I also find it fun to catch the competition off-guard from the innovation, forcing them to scramble for a “me too” product.

I think it’s time for you to have fun this week innovating.

© 2019 by CJ Powers

 

 

 

 

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