This week we are doing something fun! I hear that all the young kids these days are playing something called Fortnite. So I thought I would jump into a game and see how I do. And see if this game teaches us anything about business. Watch now!
VIDEO SUMMARY
What surprised me the most about this game, is it teaches a valuable business skill called Economic Trade Offs. In the game, you have five inventory slots, and there are many different items you can pick up. But you can only pick up five at a time. So you are always making trade off decisions.
Let us look at an example. You might open a chest and a bunch of items pop out. Two of the items might be minis or a chug jug. What do you do, if you only have one empty slot? You have to make a trade off decision, because you can only choose one. In another example, what if the two items were an RPG or a sniper? Which would you choose? The whole game you are making these trade off decisions. The better choices you make, the more likely you are to be successful.
The same process happens in a business. You are constantly making trade off decisions. In a business, you only have so much money. You must choose what to spend that money on. You could spend it on marketing, or new equipment, or hiring new people. But you can’t choose everything. You have to limit your choices to the resources you have. This is a very hard skill to learn, so the better you can become at making economic tradeoffs, it will really help you in your career.
I am obviously not the best person at video games, because honestly I spend most of my time working. For all you young people out there playing Fortnite, you could be playing the greatest video game of all time. It’s called business.