Archive for the ‘Entrepreneurship’ Category

The power of Martha

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Martha Stewart is a brilliant woman. During the nineties, her image was ingrained in our subconscious. Before Martha came around, when we thought of cooking and home decorating we thought of…well, nobody.

But all of a sudden, there she was, in Kmart aisles, on TV, in hundreds of magazines and dozens of books. Martha was as ubiquitous as Nike shoes. Her transition into super stardom seemed to be part of the natural order of things.

It certainly didn’t happen by accident. Martha Stewart had been slowly climbing to the top for decades. Her success was the result of anger, deviousness, and unrelenting determination. She was despised by nearly everyone she knew because, quite frankly, she deserved to be. This woman treated human beings like garbage and spewed profanities as if her mouth were a trash can. Some thought she had a mental disorder.

In the 2002 biography, Martha Inc.: The Incredible Story of Martha Stewart Living Omnimedia, author Christopher Byron attempts to explain Martha’s erratic behavior and how that behavior both helped and harmed her. It is a fascinating portrait. The domestic diva pretty much concocted her own fame.

The woman is cold, intimidating, and has never demonstrated an ability to empathize with other human beings, yet she continues to draw millions of devoted fans, fans who are smitten with the image Martha created for them; a symbol of utter domestic perfection, something which Martha makes seemingly possible.

Subscribing to success

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I recently subscribed to two magazines, Fast Company and Fortune, even though both are available for free online. There’s something different about holding the pages in your hand, as if somehow you can channel the wisdom and knowledge through your fingertips. Your own potential for success immediately seems more tangible, more possible, when you flip through the magazines and read those articles about the twenty-something entrepreneurs who carved a life out of practically nothing, or the start-up company that survived a succession of embarrassing mistakes. Fast Company’s May cover story about Facebook’s Mark Zuckerberg was more than inspiring; it reaffirmed my belief that anyone who is talented and works hard will succeed, undoubtedly and inevitably. These are subscriptions not only to two worthwhile magazines, but to a powerful mindset.

Develop your leadership skills

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Inc.com offers a very useful resource for people who want to improve their leadership skills. I’m almost tempted to e-mail it to some of my former employers who had no skills at all. This is also a great guide for aspiring entrepreneurs. One of the most important things that Inc. emphasizes is the power of listening.

Why Spielberg’s dreams work

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Steven Spielberg is not only a gifted film director, he’s a phenomenal entrepreneur. During his youth, he probably never imagined he would become one of America’s most powerful figures. And it certainly didn’t happen over night. Spielberg’s storytelling skills are unquestionably innate; his business skills were developed over the years as he worked for various studios.

He learned from Universal Pictures honchos Lew Wasserman and Sid Sheinberg the art of the deal. Partnered with producer (and nascent film industry titan) George Lucas and Paramount for “Indiana Jones.” Founded Amblin Entertainment and produced numerous film and television projects. Formed a lucrative franchise, “Back to the Future,” with his former protege, Robert Zemeckis.

All of this culminated in 1994 with the creation of DreamWorks SKG, a major studio he co-founded with media moguls Jeffrey Katzenberg and David Geffen.

291149.jpgRecently, Spielberg’s entrepreneurial insight has become more and more evident, especially with the success of DreamWorks’ “Disturbia,” an iTunes generation thriller that, surprisingly, topped the box-office for three weekends in a row. Spielberg clearly took a risk, and it payed off more than the studio analysts could ever have anticipated.

See also his relatively new relationship with former Bruckheimer team member Michael Bay. Spielberg is executive producer of Bay’s next event flick, “Transformers.” Although “Transformers” is an instant draw for the twentysomethings who grew up watching the 80s cartoon series, producing a feature film based on it is still a risky move; kids today have never heard of it, and if you recall, Bay’s last film, “The Island” (also a DreamWorks production), was a massive flop.

What Spielberg has done with Bay is remarkable. Look at Bay’s unimpressive repertoire of films. This is the guy who gave us the “Saving Private Ryan” meets “Titantic” bomb, “Pearl Harbor,” “Bad Boys II,” and “Armageddon.” But Spielberg obviously saw some potential in Bay, and perhaps found something of a kinship with a fellow grown-up kid. I think we can safely predict that this partnership will pay off.

So, overall, a few key things to learn from Spielberg as an entrepreneur:

1) The importance of risk-taking

2) The importance of strong, lasting relationships

3) The importance of trusting your instincts

The secret? Good entrepreneurial thinking

Why did Americans need a book called “The Secret” to explain to them the power of thought? And why is it called a secret?

I’ve watched the DVD and read the book by Rhonda Byrne. It’s inspiring, yes. I would recommend it, without hesitation, to anyone who needs a little guidance. But the notion that we can change our lives through positive thinking isn’t a secret — it’s common sense.

Byrne, practically overnight, became the nation’s self-help deity. But what she is, more than anything else, is a brilliant entrepreneur.

This woman gathered philosophers, motivational speakers, and quantum physicists, assembled a team of filmmakers to interview them and produce a DVD, developed an amazing marketing plan to sell it, sold millions of copies, got Oprah’s attention, and now, well, we can safely assume that everyone in the world knows what “The Secret” is.

Byrne must have had one hell of a vision board.