In business, we are always looking to be a few moves ahead (Setting your big goals and breaking them down into smaller goals), also you anticipate the moves that your opponents (Competitors) are going to make
Similarly, in business, if you know the road ahead, you can anticipate industry changes or alterations in customer behaviour. You can then build your business to outlast your competition and you can make the correct bets early, whether that be on platforms, distribution channels, or product feature choices.
Concentrate, but not too much
In chess, if you don’t concentrate on the game, you can lose. You must dedicate your entire attention to each move, whether it is your turn or your opponent’s.
However, the more you ponder on the game, the more likely you are to miss larger shifts that are occurring in the game. You can spend too much time paying attention to the trees rather than the forest, which is why all great chess players and businessmen can move from the narrow view to seeing the whole picture easily.
They can shift their perspective and think outside the box, both when calculating their own moves and trying to understand the strategy of their opponent.
Each piece has limitations. Teams win, not pieces.
We may be able to build products, brands and services that become popular but to build the successful business alone, however working with advisers, partners and building a team of employees
The strength of a business is in its people. The people that sell, market, dream, and create the business. Even if there are pieces that stand out like the queen, it’s the army behind those pieces that allow them to make big changes on the board.
Conversely, your employees and partner also have limitations in the same way that pawns can only move a space and a bishop can only move diagonally.
The pieces of the board working together as a coherent team that leads to success, not the all-stars trying to take on an army on their own.
You can’t win if you don’t understand the rules.
If you don’t understand the rules of chess, your chance of winning significantly decreases. If you don’t know the different ways the pieces can move or how they can be used in an attack or defence strategy, you can’t plan ahead.
This is the same in business if you don’t understand the rules of business, you are doomed to failure. Understanding the Tax Rules, Terms and conditions, Business law and employment law. You may find you have amazing growth and revenue but you get a message from the HMRC saying “ you owe £120k in unpaid taxes and you’re forced to close down.
Research different attack and defence strategies. Become comfortable with the layout of the board. Learn what the common checkmate tricks are and how to avoid them. Get a feel for how the pieces move and how they can be used in a cohesive strategy.
Yes, there are some similarities between business and chess. However, there’s one big difference. With chess, you can play a 5-minute game, a 10-minute game, or a leisurely 30-minute game. After that time period, you can rest your eyes and your brain. All that concentration is a lot of work!
With business, it’s a 24/7 365 day a year game that lasts for years. Every moment demands your attention and a few slip-ups can make the difference between success and failure.