Drawing Inspiration From The Silver Screen?

I read an interesting article in Forbes today titled Four Movies Every Entrepreneur Needs To Watch.

Cool picks, couple of my faves made the cut. Definitely check them out. Chris Myers has some interesting perspectives to share and I have a few of my own selections to add to the list.

The Pursuit Of Happyness

Chris Gardner. If his story doesn’t make you want to grab life by the horns and charge, I don’t know what will. The guy had no resources, a young son whose livelihood depended on his success but man, did he have the will to win. Entrepreneurs often face seemingly insurmountable obstacles and the successful ones never let themselves get burdened with a defeatist mentality. Frustration may reign temporarily but at the end of the day, they’ll do what they need to grow and prosper.

Take away? Never let a lack of resources hold you back from accomplishing your goals. Stay true to your dreams and push forward until you reach them.

Moneyball

I bet Hubby will like this one. =)

An interesting pick from me but in this case, it totally fits the list. Billy Beane, GM of the Oakland A’s, figured out there were certain stats that were better indicators of offensive success and it turned out those stats were cheaper to buy on the open market than more commonly tracked stats, like speed. By re-evaluating the way the industry identified and paid for talent and fundamentally changing their win strategy, the Oakland A’s made it to the playoffs in 2002 and 2003 with a fraction of their competitors’ payrolls.

The end result? Management transformed their way of thinking and strategizing, yielding huge returns for the team for years to come.

Iron Man

Okay, this one is a no-brainer and not just because I have a tiny celebrity crush on RDJ. Genius billionaire playboy philanthropist…hello!!! He’d been kidnapped and forced to make a weapon of mass destruction. Instead, using a box of scraps and his engineering brilliance, he created a powered suit of armor used to escape his captors. Yup, Tony Stark, probably the sexiest entrepreneur to strut the Earth, transformed himself into a superhero whose cutting-edge technology ultimately saved the world.

Message? A new take on an existing product can make a business explode with possibilities (no pun intended).

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Think Twice Before Joining The Style High Club

Hubby recently joined the Five Four Club. For $60 per month, he was promised an entirely new and fashionable wardrobe. Upon registering, he completed a detailed questionnaire so the company could gauge his style and taste and send him items according to his preferences.

Sounds simple enough, right?

The first shipment came the other day. I had to include pics because not only were the styles completely off, but the quality is extremely sub-par. The jacket is some kind of flimsy nylon material and the shirt is just a plain black t-shirt with a couple of buttons. Neither one of us was impressed and Hubby decided to cancel the membership.

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After keeping him on hold for about twenty minutes, Hubby found out he couldn’t return the clothing items for a refund. That’s part of the program, not one they widely publicized, by the way. He was definitely cancelling after hearing that.

But then the customer service rep said if he’d like to continue the membership, they would send him higher quality items the following month. Hmm.

Can you say swindled???

That first month tells this company a lot about their subscribers. If customers let it go without complaining about the crappy items they’d received, the company continues to send them shoddy items, saving themselves wads of cash because they’re able to keep costs down and send the lower quality merchandise.

For the subscribers that may not be happy with the quality, they may not want to sit on hold for eons so they’ll just suck it up, take the clothes and not wear them (at least they won’t if they have wives like yours truly).

Only a few will be disgusted enough to call, sit on hold and complain to customer service. These are the ones who they still have a shot at retaining. Offer them better quality to keep them happy. It’ll cost the company a little more, but they’re already making money hand over fist with the others who are just accepting what was sent.

Then there are the dissenters…the ones whom they can’t convince to stay. These are probably few and far between and not the true target for this company anyway, so better to let them go. Not cost to the company since they don’t give refunds. They still sucker them for $60 a pop (even if it was only ONE pop).

The Five Four team is not really embracing the concept of customer loyalty. Or maybe they just don’t care. Seems like a scam to me. Buyer beware. Big time.

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