With the release of the latest season, we listed 9 business, career and entrepreneurship lessons we got from the popular HBO series, 'Succession'.
Logan Roy, the founder & CEO, uses fear and humiliation as a weapon within his company. This led to ill-equipped employees that are bad at communication and full of mistrust.
The Royco Waystar team can change their decisions anytime if they convince the boss. Once a decision is made, you should stick to it unless new information is given.
On the show, no one was successful alone as they competed with each other, and the same goes for real life. Good leaders have a strong team and work together collaboratively.
In Succession, the family members only care about themselves and not the family business. To avoid this, we should create a shared vision to guide the business & keep everyone united.
In Succession, characters often make decisions based on their emotions, leading to conflicts and failures. Real leaders should use critical thinking and logic to make these calls.
In Succession, characters are constantly adapting their plans to deal with unexpected events. Leaders need to be adaptable in order to survive by being open-minded to change.
In Succession, some family members aren't fit to lead the business due to a lack of experience or interest. To avoid this, new leaders need to earn the right to lead teams.
Logan likes to gather input from everyone during a crisis, but the Roy children often say what they think he wants to hear. To make it more effective, establish decision-making criteria and look at data objectively.
Your legacy is more than just your money. Money is a tool to achieve your goals. If you own a business that is a part of your legacy, they should be managed differently from other assets.