Why? I asked. It seemed so unlike him. He went into saying that he was set on fulfilling his life dream of starting up his own business. I couldn't have been more happier for him.
He went into his whole plan of studying towards a business degree, working at an accounting firm for ten years or so, to earn and save enough money, and when the right opportunity came, he would withdraw his savings and use it to start his own company. He also took to the stock market, taking some of his current savings and putting it into an investment broker firm (TD Ameritrade, to be exact), which would distribute his money and invest it into profitable companies. Whatever interest he would accumulate from his investments over the years would contribute to his start-up fund.Talking about entrepreneurialism and sharing ideas about dream businesses is a topic that really energizes me. I've always had great ambitions to set out on my own, save up revenue and one day have enough to open my own independent film studio and work for myself. I've also thought of purchasing shares in a successful company and using any revenue I generate from that to go towards any fund I set up for my own business plans.
Let's be honest, everyone has the fantasy of becoming their own boss. But passion and determination is the difference between those who fantasize about it and those who have done it.
Becoming an entrepreneur isn't an easy journey. You could go around and study the lives of great innovators, capitalists and corporation owners from any point in American history, from tycoon J.P Morgan to technology guru Steve Jobs, and rarely, if at all, will you find a story in which any of them became an overnight success and faced little to no obstacles in their growth as businessmen. The rocky road of leadership has more ups and downs than any of the tallest roller coasters at Cedar Point.
But one thing kept these individuals going even through the lowest downs: belief in themselves and the things they had to offer to the world.
After researching the lives and decisions of some of the great businessmen in history, I've always found one key aspect in every decision that they've made: how to prove that they're better than the other guy. Competition in the business world can be the fiercest thing anyone's ever faced.
I'll use a few examples. Take Mark Zuckerberg and the social networking giant he fostered and grew, Facebook. He started it with a few friends, just sitting around the dorm room at night, drinking beer and writing lines of code. In the early 2000s, social networking was a small faction, hardly the force it's grown into today. Sites like Friendster and MySpace dominated the Internet. How could Mark's small idea even make it against them? Simple. He set out to prove that Facebook was a better site than either MySpace or Friendster. He studied their operations, noticed the multiple problems the sites faced in regards to functionality and user freedom. He pitched that Facebook ran better, didn't crash frequently and was simple and easy to use while giving user more freedom in regards to posting and social interactions. The gambit worked, and Facebook's membership grew and still continues to grow. The site also drew various companies who use the site to advertise their products, which is another major source of Facebook's revenue. They purchase user data, which include individual people's interests and likes, and they target their advertisements and products to their desired demographic.
Another example is the Apple Corporation. Everyone knows the story: Steve Jobs, his tech buddy Steve Wozniak and a few employees opened the small company in the Jobs garage in the mid-1970s, where they built computer circuit boards that could be compatible with any television set, thereby turning your television into the first computer monitor. At that time in the mid-70s, IBM was still the undisputed and unchallenged reigning king of the computer industry. How could a small company like Apple even try to compete with someone as big as IBM? Same thing. Jobs pitched the idea that Apple developed better quality computer consoles than anything IBM could develop. One big thing he stressed was the simplicity of the machines. Other computers had too many buttons, and their operating systems worked and looked as if they came from another planet. Jobs and Wozniak designed the early Apple consoles with all the functionality of a working machine, but the design wasn't overwhelming to anyone and the average consumer could easily adapt to using it. The Apple products had a grand beauty to them, because the same amount of time and energy was spent on both how the device looked and how it worked. The simplicity of the computer, along with its masterfully crafted design, is what drew millions of customers to purchase Apple products. Steve Jobs continued the tradition of simple operations and stunning designs until his untimely death.
On a personal note, I'm working to become a writer and director in film. That entire industry rests solely on talent and delivery. Producers, studio executives and agents get thousands of job requests from actors, directors, writers and others on a daily basis. Meetings are set up and portfolios are shown. Ideas are pitched and sold. The major question they ask is somewhat like, "Why should I hire you? How are you better than the other thousands of average Joes who come to me with projects and scripts?"
That's where the charisma comes in. A major tenet to being a businessman is being persuasive. I refer back to Steve Jobs again. He had an effect on people, what many call the "reality distortion field." Simply, if Jobs were discussing an idea or plan with you, his demeanor had such an effect on you that you couldn't help but agree with him, even if you were originally opposed to the idea. That's the sign of a good businessman, and not many people have that. A great point is to be persuasive, to convince investors or potential customers why they need what you're selling them, why your product or idea is worth more than any of the other ideas that have passed through their doors.Studio executives have probably heard more than a thousand versions of the same love story: ditzy girl meets handsome guy, they slowly fall in love, but something drives a wedge in-between their relationship and they don't talk for a while. But fate ultimately decides that the two belong together forever, and they make up and live happily ever after. Be honest, how many movies have you seen that is this very same story or is some sort of riff on it? As anyone can understand, trends get old after a while if they've been done many times over. For example: as a screenwriter, I go to them with a premise of a romantic comedy about two city dwellers who stumble into each other's lives one Christmas night. Assuredly, the guy would say to me, "What, are you trying to make another When Harry Met Sally? I've heard the same damn story over and over. How is yours any different?" Would I back down because he had me there?
No. I've prepared for this moment. I give the executive any and all reasons as to why he should buy the script. I tell him about the fresh new perspective, the different points of view of the characters, why their break-up at the end of the second act is the most tragic thing any moviegoer will see, and why the happy ending will work the way its written. You have to be prepared to back up your idea's credibility and look as if you know exactly what you're talking about. Confidence and charisma are what investors and other leaders look for in the young greenhorns.
Starting a business or selling an idea is a hard fight, but it'll be a fight with a better chance of you winning if you know how to go about it properly. Passion and commitment are the major motivations for any business owner, the continued determination to never give up. If any of the great leaders of business gave up when the chips were down, would we have the same society or future as we have today? Probably not. Because of their unshakable faiths, these greats have moved society and the wheels of history toward the better advancement. And if you have that same desire and never-give-up attitude, then you too can play a hand in that game.
I hope you enjoyed reading my latest article of thoughts. Do any of you have any business ideas? Please feel free to share them here, I'd love to hear about them.
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