🎬 The Greatest Showman Movie Startup Lessons. Check this out!
🎬 The Greatest Showman Movie Startup Lessons. Check this out!
🤷♂️ What we can learn, and apply, from the movie. Do you Agree?
Aron Meystedt
February 28, 2024
Hello! 🙋♂️
🤩 The movie The Greatest Showman reminds me of startup life. Check this out.
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🚶♀️You Might Follow the Same Path…
Remember this movie?
It’s about PT Barnum and how he created the modern Circus.
😲 Have you considered that this movie offers the startup blueprint?
Here’s why:
✔ It all started with a small idea
✔ and a super small target audience (his daughters).
Start small with an audience you can easily reach.
✔ So he made a prototype
(light spinning machine) and tested it with his target audience.
They LOVED IT.
Get quick initial feedback.
✔ This inspired him to think bigger.
WHAT IF:
We create a place where people can see stuffed versions of wild animals. It’ll be a museum of things you can’t otherwise see.
So he created it.
1️⃣ This was Version 1 of his product.
He was super proud of his first product and wanted to see the reaction of his expanded target audience (the local public).
Version 1 won’t be polished and perfect. That’s ok. You’re moving forward. Get SOMETHING out there so your target audience can see it.
✔ Crickets.
Yikes.
No one cared.
Time to give up and do something else?
NO.
If you have conviction, you take this as a learning experience and you move forward.
👉 You’ve found out what people don’t want. Now find out what they do want.
Feedback from your target market. :)
✔ His daughters (part of his target audience) told him what they wanted to see.
👉 Things that are alive. More action and movement.
Take the feedback and modify your idea to fit what the market is telling you.
✔ Time to iterate and improve.
This led to him improving the show.
🎤 Songs, lights, entertainers.
He found the right people to help and the correct offering that his target audience would love.
Then it started to finally take off.
Version 2. Much better. Based on customer feedback.
✔ Ok, this is working, people love it.
😠 But, there are always going to be people that try to bring you down.
When you’re doing something new and exciting, no matter your motivations, people will disagree with you.
That’s life. Expect it to happen.
Remember the journalist that had nothing good to say to him?
✔ Things are still going great with the startup.
Time to expand and bring on some help.
👉 Find people that help in areas where you are weak.
Bring on people that buy into your vision and help you in ways you couldn’t otherwise.
✔ People may not see your vision at first, but people are attracted to enthusiasm and conviction.
Time to expand and try new things.
👉 Can we expand into adjacent markets? Into new audiences?
In this case, he expanded his target audience with a supplemental offer.
Some growth ideas may work. Some may not. But most of us want to see how far we can go.
✔ Like any good startup…
One step forward.
Two steps back.
Bad things happen that are of your control.
How do you respond?
After the fire destroyed everything, it was time to decide: give up, or move forward.
✔ Time to rebuild. Maybe we simplify it and stick with what works:
(the entertainment) and strip down what’s unnecessary.
✔ Exit plan.
Time to evaluate what I want to do with my time.
Do I want to be a business operator? Do I want to move on?
His partner takes over.
✔ So he hands it off to his partner.
Why?
He has better places to be…
Family time is the most valuable time.
🤩 You can generate startup ideas, analyze them with a deeper dive and move forward ALL FOR FREE right here: ⏬ ⏬ ⏬
That’s it for today. I hope this motivates you to get moving.
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