For An Entrepreneur To A Common Man, Seven Valuable Life Lessons To Learn From 'Succession'

¡°In Buddhism, sometimes your greatest tormentor can also be your most perceptive teacher.¡±

With its ruthless family drama and power-hungry characters, Succession made headlines right away. Jesse Armstrong is the creator of this American satirical comedy-drama television programme. On June 3, 2018, HBO released the world premiere. The Roy family, who own Waystar RoyCo, a multinational media and entertainment conglomerate, are the series' main characters.

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They are engaged in a power struggle for the firm while Logan Roy, the patriarch of the family, is ill and in questionable condition.

While you may perceive Succession as a source of entertainment only, it also teaches you at least a few useful business principles and more.

Let's take a look:

1. You need a succession plan

Even though Logan Roy is in his 80s, there does not appear to be a plan in place for what will happen to his fortune and the controlling shares of Waystar Royco should he pass away or become handicapped. Although not unusual, this is totally reckless. A succession plan guarantees a seamless transition in the event of a CEO's departure.

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2. Make A joint effort

Almost every episode features the Roy family squabbling for position, yet everyone around them knows that no one person can actually advance without help. The most successful leadership teams are those that are built on strong working relationships.

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3. Work hard

Logan Roy's fortune in the show is the result of years of arduous labour. He got there by prioritising ambition over everything else, including empathy and compassion towards his family.

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4. Trust is vital

Between family members, there is not even the slightest bit of trust, let alone open conversation. Because of this, it is likely that Logan's wealth will be lost soon after his passing.

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5. Be practical

Being emotional occasionally is okay. You must never, however, allow those feelings to influence your decision-making. That results in making poor decisions that will eventually backfire. Consider Logan Roy as an example. His acts are mostly motivated by his emotions and desire for continued dominance. And he has suffered continual family disputes as a result.

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6. Learn to listen

To make the greatest choices, we should always maintain an open mind and be receptive to different viewpoints. The Succession episode "Which Side Are You On?" also demonstrates the significance of this. We witness a vote of no confidence against Logan in the episode. To succeed, Kendall and Roman Roy must persuade the board members to vote in their favour. He was warned repeatedly not to do that, but he ignored them.

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7. Be confident

Always assert yourself in all settings and meetings. The first step is to command the room as soon as you enter. The second step is speaking clearly and precisely while maintaining a strong demeanour and voice.

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