Archives for June 2016

By Evan Cartwright

Based on the positive response we received from our last pop culture-themed blog post, we thought we’d take a page out of Hollywood’s book and create a sequel. And what better way to continue the entertainment theme than with movies!

Here are our top 6 favorite entrepreneur films (and what we can learn from them):

1. The Pursuit of Happyness

Buoyed by a heartwarming and inspiring performance by the always-brilliant Will Smith, the triumphant story of Chris Gardner shows that education or impressive credentials aren’t a guarantee of success, but rather an unrelenting passion and refusal to let life’s obstacles keep you from success. Also, developing your people skills should be a top priority for any entrepreneur, as they can open doors that you might never have previously known or considered.

2. Citizen Kane

Often regarded as the greatest film in cinematic history, Orson Welles’ “Citizen Kane” is renowned not only for its groundbreaking storytelling and visual effects, but also the tragic trajectory of its protagonist. Charles Foster Kane, loosely based on newspaper magnate William Randolph Hearst, demonstrates revolutionary business tactics in his quest for wealth and prestige—he’s a master of PR and self-promotion whose boundless ambition allows him to ascend from an impoverished upbringing to become a powerful tycoon. However, his acerbic, uncompromising personality ultimately alienates everyone close to him and he ends up alone at the end of his life. Kane’s arc reminds us that while starting a business is a noble goal, it pays to have one’s priorities in order and remember what’s truly important.

3. Office Space

Besides generating a newfound appreciation for Red Swingline staplers and cathartic printing smashing sessions, Mike Judge’s cult workplace comedy perfectly highlights the drudgery and quiet desperation of modern cubicle dwellers. From the petty bureaucracy, to the clichéd business jargon, to the monotony of day-to-day work, Office Space does a fantastic job of satirizing white collar work and reminds us that life is too short to not go out and pursue your business dreams.

4. Ghostbusters

With the reboot coming out next month, it feels appropriate to mention everyone’s favorite paranormal investigators. Egon, Ray, Venkman and Winston (and the ladies of the new movie) are the perfect example of an innovative startup—they identify a previous untapped market, and leverage their collective knowledge and experience to fulfill a niche need. Also, the Ghostbusters show the value of having memorable and effective branding—their logo and theme song are instantly recognizable.

5. The Wolf of Wall Street

The importance of ethics is front and center in Martin Scorcese’s raunchy romp through the world of finance. The larger-than-life Jordon Belfort, as played by Leonardo DiCaprio, exhibits the perfect combination of confidence and creative sales tactics—his aggressive pitching style and ability to exploit his client’s vulnerabilities helps him develop his own successful financial firm. His also develops a unique, tight-knit business culture and inspires a near-fanatical loyalty in his employees.

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However, his excessive, hedonistic lifestyle and willingness to cut corners ultimately ensures his downfall. Belfort’s story teaches us that profitability should never be pursued at the expense of customers.

6. Moneyball

You don’t have to be a sports fan to enjoy Brad Pitt’s statistics-inspired rags-to-riches journey as the general manager of the Oakland A’s. As the underdog team with the lowest salary available for its players, Billy Beane (Pitt) facing the losing prospect of having his star players being constantly being poached for better opportunities. His unique solution is to analyze statistical data and pick players based on their stats alone to fill in gaps needed on his team. Similar to Beane, entrepreneurs should seek to take an innovative approach to an existing business model and seek to improve it.

What did you think of our pop culture choices? Did we miss any of your favorite movies? Leave us a comment about what films you think best show the entrepreneurial spirit!

 

By Evan Cartwright

When someone asks you to think of the best entrepreneur-focused TV shows, programs like “Shark Tank” or “The Apprentice” immediately come to mind, based on their specific business-minded premises. However, entrepreneurial traits can be found in the unlikeliest of places, especially in programs that exist completely outside of a business setting.

Here are our top 6 favorite entrepreneur shows in pop culture (and what we can learn from them):

1. MacGyver

Everyone’s favorite on-the-fly inventor, Agnus MacGyver’s adaptability and ingenuity in intense situations demonstrates the need for entrepreneurs to be creative and use whatever resources at their disposal to solve their problems.

2. Parks and Recreation

Running a government department is similar to managing a business—both have to maintain a budget, deal with competition, handle the irascible public, etc. As the optimistic Leslie Knope and the rest of the Pawnee, Indiana team shows us, there are multiple ways to approach situations, but it always pays to have a positive attitude and a tight-knit support group that you can trust. Plus, Tom Haverford perfectly embodies the entrepreneurial spirit—he’s ambitious and a wellspring of creativity. While not all of his business propositions are successful, Haverford never lets temporary setbacks keep him down, and he’s always looking to the future.

3. Game of Thrones

Although this show is known more for its political machinations, bloody violence and graphic sexuality, Game of Thrones also offers an insightful look at management strategies. Comparing the ruling styles of the various houses and the differing levels of loyalty they inspire in their subjects demonstrate what to and what not to do in a team setting.

4. Sanford and Son

While Fred and Lamont’s get-rich-quick schemes on “Sanford and Son” were motivated by less-than-honorable impulses and frequently backfired, you have to admire their entrepreneurial spirit. Just like the two junk dealers, entrepreneurs need to be able to think outside the box, anticipate market changes and always have new ideas on the back-burner.

5. Breaking Bad

While Walter White and Jesse Pinkman’s illicit actions shouldn’t be emulated, aspiring entrepreneurs can learn a few things from teacher-turned-drug kingpin Heisenberg. As a scientist, Walt is extremely concerned with maintaining the purity of his product; his meticulousness shows that it pays to be detail-oriented, as it helps you stand apart from the competition. He also wisely invests in multiple income streams, and works to expand his business connections. Finally, Mr. White wisely seeks out legal advice prior to most major business decisions.

6. Gilmore Girls

As a great shout-out to female entrepreneurs, Lorelai Gilmore is one of the most versatile (and talkative) examples on this list. With her can-do attitude and personable nature, Ms. Gilmore exemplifies the benefits of networking; maintaining a close relationship with every resident of Stars Hollow and always willing to lend a hand, Lorelai created a built-in market for her brand in the Stars Hollow community. She also demonstrates the value of hard work, as she’s promoted to a management position after many years spent at Independence Inn, and eventually leverages her experience into opening her own venture. Most importantly, Lorelai demonstrates the need for balance in an entrepreneur’s life, managing her busy work life while still providing loving support and guidance to her daughter.

What did you think of our pop culture choices? Did we miss any of your favorite programs? Leave us a comment about what TV shows you think best show the entrepreneurial spirit!

 

By Brandon Vogel

Besides the core team members that are involved with the start-up, one of the most important elements affecting the initial success or failure of a business is, as the saying goes, “location, location, location.” While modern entrepreneurial endeavors are less restricted by geography with the advent of technology and the expanding interconnectedness of the global market, location still remains an important factor.

When starting a new business, here are five important considerations:

1. Create a Clear Vision

Planning ahead can make or break your business. It is imperative that you take the time to develop a systematic and realistic vision of your start-up —detail the strengths you currently possess, what your weaknesses are (missing team member with technical expertise, personal budget, location, etc.) and envision where you see your company going (expanding into new markets or developing new products, etc.). Time is a resource and it is important to spend it wisely. Using some of your time to create a vision for your company will ensure that you can avoid future mistakes, such as a poor location choice. A mistake is sometimes impossible to overcome for a small business.

2. Go with Growth

Planting a business seed is a risky endeavor—you have to nurture your idea and provide it with constant attention and support. Before you undertake such a challenging venture, you should investigate whether the local market supports small business growth. Factors in the community such as quality of life, startup growth, etc. can have a huge impact on the financial success of a starting venture. (Coincidentally, the Entremetric headquarters is located directly between two cities listed under the top 25 cities for entrepreneurial growth and in a Keystone innovation zone).

3. Demographics

To paraphrase another famous saying, “Go where the people are.” Regardless of where you set up shop, there should be a constituency of potential customers in your local area. Not only will this influence how you market your business, but could also affect your hiring pool if you need to bring on additional employees as your business expands.

4. Know Your Competition

Regardless of what industry you are in, there will always be other companies trying to get a piece of the same market share. It will pay off in the long term to conduct research on their business model and determine what you can do differently or better to convince their customer base to choose your product over theirs.

5. Assess Accessibility

Accessibility is key— your location can change your sales by as much as 30 to 40 percent. Is your location nearby a supplier and conducive to drop-offs and or pick-ups? Is there convenient parking nearby for clients? Take the time to monitor the facility at different periods of the day so you can develop a good idea of how the location functions and how your client’s interact with the location.

As with most elements of entrepreneurship, business location requires in-depth research. However, if you invest the time and make sure to dot your “i’s” and cross your “t’s,” you are sure to reap the long-term rewards.