The winning principles of monopoly are the same principles that govern real life. Which is to capitalize on opportunity, reinvest your profits, and form critical alliances.
Each one of these components is equally important when it comes to surviving entrepreneurship and essential cogs in the wheel.
In its rawest form entrepreneurship is a rollercoaster with plenty of ups and downs. At times it can get us excited while also making us terrified.
Which is why we should follow these rules to the letter. These guidelines will ensure we don’t stray too far and it keeps on the rails.
With the proper discipline and a little bit of luck, these principles will ensure that we not only survive but thrive in the business environment.
1. Capitalize on Opportunity
In business, there will be opportunities that present themselves left and right. Whether it’s landing on park place or growing our business online, we must be willing to make the jump.
Using these moments to scale our presence can make the difference between expansion and stagnation. Keeping our eyes open and being prepared for them can also catapult us to new levels of success.
Now the timing won’t always be right so we must have a discerning eye to vet these options thoroughly. We’ve got to run the numbers because if they don’t make sense, they don’t make dollars!
The last thing we need is to invest in boardwalk only for it to blow up in our face!
2. Reinvest Profits
In the beginning phases of our business, we must reinvest our profits! No, if’s, and’s, or buts. These are the make or break moments, and if we don’t use our money wisely, we can find ourselves bankrupt.
With this in mind, our goals must be to get the snowball effect started and watch it build into an unstoppable force. Once the business is thriving then and only then can we think about pocketing some cash.
We must learn to live on meager means and keep funneling capital back into our cash cow. Using this principle will keep our business growing at a sustainable rate as we continue to pass go!
3. Form Alliances
Our network determines our net worth! Building critical partnerships applies to all areas of life. Whether it’s business or pleasure, there’s simply no way we can make it alone.
By recognizing this and making connections, it opens us up to a whole new world of options making our lives easier in the process.
Every entrepreneur must understand this and strive to become a valuable contact and seek out others who do the same.
We never know when we may need to swap our red’s for blue’s or collect all the railroads. By leveraging our contacts, we can produce mutually beneficial deals and make everyone happy.
All in all, monopoly isn’t too different from the real world. If we can form the discipline to follow these guidelines, we’ll be winning in no time.