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Top 10 Enterprise Movies of All TIme

During the Christmas holiday I got asked to name my top ten films and as always its hard to bring it down to just ten, but then I thought about what have these movies teaches me about business or enterprise.

So here goes…

Stardust (2007)

“having a dream, passion and a little determination is all you need”

Our hero needs to track down a fallen star, living in a small village in Kent, he heads over the local boundary wall only to find its a magically world. Its a great movie and Robert De Niro plays a cross dressing captain is just a surreal part.

Its the story of EVERY entrepreneur I have ever meet, they have a dream, some passion and didn’t really know what the end game would be, but they were determined to see it through. We celebrate those that succeed but we should encourage everyone to have a go, as these people create wealth, innovation and more importantly experience.

Godfather (1972+)

“Pivoting an established business is extremely hard, so do it early on”

Michael tries to change the business activities of his family business and even with all his wealth and influence he fails.

I have seen this so many times in my career. Motorola was the greatest mobile phone manufacturer in the world, developing first generation phones (1G) and then Nokia started developing 2G phones and Motorola never really got into the digital game. Then Samsung took the 3G market with bigger screens and apps and Apple is the current power house with 4G phones. This is not even a pivot its an upgrade to me and you, but these businesses can not do it, so learn early on in your business and get it right. It may be your only chance.

Star Wars (1977+)

“The small business has more opportunities than the larger “death star” businesses, however its in the execution”

Lean methodology is key to setting off but for today’s business small is best. Think of Arm or Superdry which are amazing companies who outsource or create business models which mean they don’t employ thousands of people installed in the “death star”. Get yourself an Millennium Falcon and just keep the hyper drive working.

Apocalypse now (1979)

“Know your enemy better than yourself”

I just love this movie, its about a journey that we all take, a physical and mental one. Each journey changes us and that change is inconceivable at the start.

The best line in the movie being “I love the smell of napalm in the morning” which alway reminds me on the business mantra “Eat a toad every morning”. This is a Mark Twain saying and aims to get you doing the worst job first every day, then the day can only get better.

This analysis of your enemy and then eventual destruction of them is a very common business theme, however the real message is that by learning their strengths and especially their weaknesses we can become better entrepreneurs. Its sometimes hard to learn other people’s weaknesses but certainly we should identify our own and seek the support they need.

Avanti (1972)

“In every business there is value”

Jack Lemmon did some great films, such as “Some like it hot” but this one is my favourite, bit of a romcom set in Italy. The comedy is just excellent and the settings are just breath taking. The story line is that Jack Lemmon must go to the Italian island of Ischia to claim the body of his millionaire father, only to find his father took more than the local spa each day.

It really shows how cultures clash and that different business methods may seem odd or just outdated, yet just taking the time to understand the culture and the business methods allows you to then extract the true value. We are very keen to adopt new technology and business methods without understanding the processes and methods which have worked for thousands of years.

Pulp Fiction (1994)

“Sometimes you need someone else to help you”

Everyone should spend time with hitmen who have a penchant for philosophical discussions, especially around the foody topic of Hamburgers. However when they get into trouble its Mr Wolf they turn to.

Every entrepreneur should have Mr Wolf, “I solve problems” who they can call on. This may be a mentor, a consultant or advisor who can come in and just sort out the issue. Everyone has a skills gap in one area, a thing that bugs them or they just can’t get their head around. You have to have one of these “Mr Wolf” people who can come in and solve it. Your’ll never look back.

Hairspray (2007)

“You don’t have to ever grow your business”

Everyone loves a musical, a man playing a dame and a dance off. Its the secret ingredient for a great movie. Mr Wilbur Turnblad has been running his joke shop for a lifetime and yet he is still enjoying every day of it. Making it bigger will take the real fun out of it and also create a set of issues which he doesn’t want to present to his family. So small is beautiful in this case for him.

The incredibles (2004)

“Family businesses are stronger”

Mr. Incredible and Elastigirl never worked together as superheroes until they have to protect the family. Each family has a different super power which enhances the whole team to beat off Syndrome. This is true for every team, everyone have something to offer, sometimes mundane is the most important skill to have. (e.g a good cup of tea when sailing in a force 10 gale is just awesome)

The best quote from the movie is “Everyone can be super. And when everyone’s super, no one will be.” which shows we need everyone to be different otherwise we have nothing special.

Avatar (2009)

“Go in prepared”

You can have the best trained soldiers, biggest guns and latest technology and you still may lose the fight. Sometimes its more about the hearts and minds which win the battle, so you need to prepare these to fulfil your goal. Just don’t forget it.

The Wolf of Wall Street (2013)

SELL SELL SELL

This movie shows you can create a business which is solely focused on sales and there are still a large number of these around, the modern day call centre is an example. However the loyalty you get from looking after you staff is a major mantra for this movie.

The number one thing you have to do in a business is sell, no matter what business it is, a Charity, Religion, Social Enterprise or PLC. You have to get people to part with their cash on a regular basis to ensure you are solvent.

Also it shows that the name of your business is everything “Stratton Oakmont”. These people travelled across on the Mayflower and thus can be trusted.

Hopefully you have enjoyed hearing my top 10 enterprise movies.

Blog, Enterprise Education, Mentorship and Networking, Skills Development, Training

Selecting the Correct Startup Mentor

Introduction

Our experience has highlighted the matching of mentor/mentee pairs as the most important factor in the success or otherwise of effective mentoring. Every person who starts a business should have at least one mentor, these people are there to a devil’s advocate and support in development of the business. They are not business advisers or life coaches and therefore are not making decision for the business owner. The business owner is 100% responsible for their own actions.  We would typically assign at least two mentors based on the following criteria. The two mentors would be from separate criteria to ensure we provided diverse mentoring support.

Key Criteria

  • Methods of Working
  • Sector Knowledge
  • Area of Expertise
  • Stage of Business
  • Location Network
  • Peer or Near Peer Mentors

Methods of Working

Both parties should have expectations and they should set out the process they will follow in dealing with each other. When will they contact each other? What is the communication medium SMS, Email, Telephone or Face to Face, What response time will the other person provide? When is out of hours? What support will they get and what is expected from the mentee? Use the GROW model for mentoring sessions.

Sector Knowledge

Many people want someone to mentor them who has already done it. Someone in the same industry has the network contact to help them move forward faster. They may be diversifying into a new sector and need introductions. The approach that mentors take within a business sector will also have to been taken into account. We find this is one of the fastest ways to develop the mentee’s understanding of the benefits of mentoring.

Area of Expertise

People starting a business may require help with one field, e.g. sources of finance, marketing, IPR, logistics, operations, sales, office, international sales, production, TAX, bookkeeping, website SEO, etc. This field will require mentoring over period of time when the mentor is no longer required and another mentor can be assigned to deal with their new needs.

Stage of Business

Our mentoring solution works on a six stage business growth model which is detailed in Appendix A.  It is particularly important to ensure that the mentors understand the importance and nature of each stage and do not jump into suggesting solutions before they have fully appreciated the context and needs of their mentees.

In moving the business forward, the better the foundations within the early stages the better the business opportunities in the later stages. Therefore having specialist mentors for these stages provides the best results.

Location Network

One of the core resources needed to grow a business is access to a network of like minded people who may be customers, competitors, investors or collaborators and a mentors can be the fastest way of accessing this network. We also find that certain industries have a culture that lends itself to a sustainable network of experts who are willing to ‘put something back’ into the system in the form of mentoring, such a lawyers, accountants and educators.

Peer or Near Peer Mentors

Peer-based activity is regarded as the best way to transfer tacit knowledge critical to business success. This is a very powerful and meaningful proposition in a entrepreneurial social context with the opportunity to develop a sustained and long term relationship.

 

Blog, Enterprise Education, Legal and Regulatory Knowledge

Enterprise in the Community

Entrepreneurship doesn’t happen in isolation. Think about it, its true. So why do Universities think they can create entrepreneurs without developing a sustainable community around them. So what is best practice from universes in the UK?

Network of Entrepreneurs – Open the doors and get all who start and own businesses to bring their networks into the university and also get those startups to go out into the network of local entrepreneurs. This open door policy helps reduce costs but also helps foster stronger links between those starting a business and those who have strong businesses.

Mentors – The vast majority of entrepreneurs will mentor a student or graduate who is looking to start a business. However you should be provide training, support and knowledge enhancement for these mentors. How and what is mentoring, when should I do it and what should a say, how far can I go in forcing them to do something? Once you set the ground rules and provide clear guidance they are a great resource. Its about giving before taking.

Local Customer – A lot of startups think global sales without seeing that just outside the university there are thousand of customers. The fact is the global and local customer are the same distance from them, about a million miles. By bringing local customers to the university and the startups you build a customer base who will provide feedback, cash and support to these startup business.

Fail Safe – The majority of startups will fail within the first 2 years and the landing pad for this ride should be prepared. Allowing them to understanding the learnings from the business and develop a real knowledge base which can be applied to the next star up will help create better businesses in the future.

Connected Events – Co-sponsored events which student, entrepreneurs and business professional attend from around the city ensure that students get to understand the wider context of entrepreneurship and able to pitch and network with potential investors.

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Investment Ready Check List

One of the major problems with starting a business is getting the business into a situation in which you can scale and make the business truly sustainable. This normally means getting some form of investment, this may be from other founders, employees, but most often from investors.

So what are the minimum set of items to check off the list to become investment ready?

1. Domain Name: Make sure you secure the .com site and your country domain, e.g. .co.uk. If these are not available then you should seriously consider renaming both the domain and trading company or someone else could end up with your website traffic.

2. Registered Company: In order to issue shares to an founder, employee or investor in return for their money time/you will need to form a Registered Company, such as Ltd. This normally means going to companieshouse.ork.uk and completing an online form.

3. Have a working Business Bank Account: This must be in the name of the Registered Company with the current directors as signatories. It takes a little longer than expected and make sure you have all the documents before setting foot in the bank. For you first business bank account I recommend you have a physical bank with a business manager, so shop around and make sure you get on with them. This means you can ask questions and get advice for nothing.

4. Trademark, Copyright or Design Rights: It is very important to ensure you are covered by a Trademark in your main trading country(s) so that no one else can use your product or company name.

5. Financial Forecast: In order negotiate a fair deal for both you and the investor it is very important to have robust financial forecasts and a proper valuation of your company. Again there is professional help with accountants if you are having problems.

6. Business Plan: Planning and Execution are key to becoming a successful entrepreneur. I have never liked writing a business plan as it becomes an exercise in writing and not planning, risk management and strategic thinking. I highly recommend that you write this yourself in no more than a day or two as this should be short and concise as the majority of angel investors are busy people and will skim read it at most.

7. Presentation: Once you have got through the door to meet the angel investor, then you only have a few minutes to impress and show you know what you are doing. So use the rule of five, five slides with five lines with five words, the rest is in your head. Remember, the five slides are Problem, Proposition, People, Proof, Request.

8. Shareholder Agreement: It is advisable for you to create a fair Shareholder Agreement rather than use one the investor provides which is likely to be highly stacked in their favour as it has been written by their lawyer.

Good Luck!!

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6 Core Values of an Entrepreneur

Every entrepreneur should have a mantra, a code by which they conduct business and here we set out our “core values” of an Entrepreneur. Its so important to believe in what you are doing and set your path using values which others also work with.

Partnership

The success of an entrepreneur is largely due to the partnerships they forge. The intellectual capital and passion entrepreneurs display on a daily basis are key drivers in achieving their partnerships with employees, customers and other businesses. They highly value and respect the people who make up their company and the commitment to excellence. Recruiting, training, and retaining quality people are fundamental objectives an Entrepreneurs’ success.

Personal Integrity

Entrepreneurs conduct all matters of business with integrity. Entrepreneurs proudly uphold the values of honesty, truthfulness and sincerity, while remaining fair and ethical in even the most difficult situations.  Entrepreneurs seek to constantly maintain a professional demeanour despite facing critical decisions while conducting business. The time and effort put into every project is true to their mission of delivering superior results in a professional manner.

Innovation

Entrepreneurs know in every marketplace, innovative ideas, concepts, and processes are essential to the continued success of any company. Entrepreneurs endeavour to create value, deliver results, and continuously improve all elements of both their business and those of their customers. Entrepreneurs aim to be creative, effective, and efficient within their company to help create inspired, visionary solutions for our business partners.

Ethics

Entrepreneurs firmly believes that a strong moral code is a key component towards earning trust in their business, both internally and externally. They strive for all aspects of their company such as people, ideals, functions, and outputs to uphold the highest possible moral competency and responsibility. Entrepreneurs are steadfast in practicing and observing the ethical and moral principles.

Trust

Trust is one of the foundation stones of being an Entrepreneurs. It begins with their co-founder, investors, employees and depends on the reliance, partnerships, and successes they share with customers. Trust between our company and customers manifests itself through common goals, respect, and fulfilment of our commitments. Due to the trust they build, both with employees and customers they can not rest easy knowing they have not meet  all of their needs.

Quality

Quality is an underlying trait of Entrepreneurs that touches all aspects of their business. The quality of they people and excellence of their operations lead to distinctive outputs for their customers. Quality is achieved through passion, leadership, education, empowerment, responsibility and accountability. These are virtues Entrepreneurs champion  and recognise in the activities of their company.