7 Real Life Business Lessons Learned Playing Monopoly

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7 Real Life Business Lessons Learned Playing Monopoly

When I was a kid, my favorite game was Monopoly. Now I get to experience it a whole new way with my own kids. Turns out there are quite a few real life business lessons from the quaint old game.

1. You have to ask for what you want.
So you passed go, so what? It’s not my job or anyone else’s to remind you the rules of the game. Don’t expect others to do your job for you.

2. Niceness matters.
While you can’t rely on others to point out your opportunities, showing courtesy will gain you big points. Little things like passing the dice and moving another player’s piece go a long way toward a pleasant game. Just because it’s business doesn’t mean you have to be rude.

3. It’s not rocket science.
Monopoly is a very simple game. Accumulate real estate, collect rents. That’s all you do. Sometimes in business we right off avenues too soon because we don’t yet understand them. Analyze your business (or idea) piece by piece, or enlist the help of someone who can.

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4. Take risks.
So what if you only have $600 to your name, are you going to let Boardwalk pass you by? This is a difficult one for many people. The more you know about your chosen pursuit, the more confident you’ll be taking calculated risks. And isn’t that the only way to make real money? 

5. Business can be boring.
The first hour of a game of Monopoly is so tedious. Roll, buy, roll, buy. But that’s the way of the world too. It’s not all toasting big deals and delivering million dollar shipments. The day to day grind can get monotonous. Keep your eyes on the prize.

6. Luck counts for a lot.
Preparation goes a long way toward improving your luck, but much still depends on a roll of the dice. Keep this in mind next time you’re beating yourself up over a missed opportunity or a lost sale.

7. Don’t expect others to support your strategy.
My ten-year-old was recently stunned that his little sister would dare to buy Pennsylvania Avenue. “But I’m collecting those,” he whined. To which she responded a resounding, “So what.” Atta girl. Play your own game as best you can, but don’t expect cooperation from your playmates!

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  • August 25, 2008 at 6:07 am

    Great article. I like the lessons like that…especially the one about “business can be boring.” Nothing wrong with a little less drama, is there? Nice work.

  • August 25, 2008 at 8:42 am

    As an avid Monopoly player (and undefeated since childhood!) I want to say this is a fantastic post! Love it!

  • August 25, 2008 at 4:59 pm

    What a great article and oddly number 7 is dead on. Often new entrepreneurs will turn towards their closest friends for support. The challenge becomes when those friends have never started a business, raised money, written patents, negotiated licensing agreements.

    At times you may feel unsupported but it’s most likely that those friends just dont know how to support you. Keep your friends and expand your circle of influence.

  • Drea
    August 25, 2008 at 6:08 pm

    I second Frank’s comment. With so much sensational information floating around, it’s hard to remember that no news in business can sometimes be good news. Great post!

  • August 26, 2008 at 10:50 am

    LOL!! I love the post articles. “7. Don’t expect others to support your strategy.” That one is brutal truth. “SO WHAT” does deliver a punch. Hahaha everyone does that when it comes to bargaining power.

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