Business Strategy: Game of Thrones
Game of Thrones is a widely acclaimed HBO series that tells the story of a medieval country's civil war. Characters battle to claim the Iron Throne, the seat of the king of the Seven Kingdoms, the regime that rules all.
There seems to be a far-stretch when it comes to linking e-commerce business strategies with the fictional kingdom’s war for the Iron Throne. However, there are lessons to be derived from their perilous struggle.
Power comes from unity
Robert Baratheon, also known as the former King of the Seven Kingdoms, once explained the underlying principles of the power of an army. He asked the queen which number is greater, five or one, she guessed wrong. He then held up five fingers on one hand, and held up one fist on the other. Power comes in one unified approach.
As a company grows, it is impossible to survive in the industry without an alliance. You will require a partner that understands the needs of your business in order to flourish in the mature e-commerce industry. Baratheon’s question illustrates that it is imperative for collaboration amongst the e-commerce businesses and logistics companies counter challenges head on.
Strategy above all
Winter is coming. This is the motto of House Stark, one of the Great Houses of Westeros and demonstrates the need for constant vigilance and foresight. In relation to the logistics industry, this ever-encroaching threat is testament for the volatility and economic upswings and downturns.
Long term planning is a basic, yet important, ingredient for the growth and for a company to establish a foothold in the industry. As an e-commerce business, you will need to prepare for both the predictable, seasonal challenges as well as bigger, global threats. With the ongoing trade war between the United States and China, perturbations are sure to be felt in the global supply chain. Partnering with a reliable logistics partner with the capabilities to foresee trends and provide you with valuable insights in the e-commerce industry will arm you with the knowledge to survive despite the adversities.
The economic uncertainties in our globalised world today, coupled with the constantly evolving technology will affect the demand for your products and supply of your resources in multi-faceted ways.
A business can never be content with its current status now, as the proverbial winter is always lurking.
Differentiate your offerings
Understand your unique value proposition and use it to differentiate and even diversify your offerings in the industry. However, before you embark on diversification, it is important to know what is your competitive advantage and be able to articulate it.
For example, Daenerys Targaryen uses her dragons to conquer the Iron Throne, her dragons are the elements that differentiate her from the rest. This tells us that businesses have to possess something unique and appeals to customers. When differentiating your offerings and products in the e-commerce industry, having a partner that can fulfil your requirements will bring you closer to the Iron Throne - becoming a market leader in your field.
However, always be wary of your competitors and stay up-to-date with their developments in the industry. This will allow you to gain insights on the current trends and survive in the mature e-commerce scene.
Journey to the Iron Throne
As Queen Cersei says in season one, "When you play the game of thrones, you win or you die. There is no middle ground." Her quote resonates strongly in the competitive e-commerce sector where business want a piece of the lucrative pie. Partnering with the right logistics partner will propel your business to the right spectrum to success.