How to Prevent Your Business from Becoming an Embarrassing Failure

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Jannat12
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Joined: Sat Aug 06, 2022 10:42 am

How to Prevent Your Business from Becoming an Embarrassing Failure

Post by Jannat12 »

Did you see the new Lone Ranger movie? If you’re like most movie-goers, you didn’t. You saw one of the other blockbusters instead. Or you went to the beach. Or you stayed home and had an Orange is the New Black marathon. Lone Ranger just didn’t seem like something you felt like shelling out $15 (plus popcorn) to watch. So why talk about this quarter-billion dollar failure here? Because the reasons the movie didn’t work (and by work, I mean make a profit) are the same reasons that kill businesses every single day. And by analyzing a spectacular failure, we can unearth some of the factors that will make your business successful.

The Lone Ranger wasn’t supposed to flop. As Disney’s head of distribution Phone Number List Dave Hollis sadly told Yahoo Movies: The frustrating part for us is that we had all the ingredients here. You take a classic franchise, team the world’s most successful producer, an award-winning director and the biggest movie star in the world and you think your chances of success are pretty good. But we just didn’t make it work. Failure is repeatable, just like success is. So let’s talk about why Lone Ranger tanked, and how your business can learn to avoid its terrible, terrible fate. Problem #1: The critics were not kind This summer wasn’t a great one for blockbusters in general (with some exceptions), but The Lone Ranger stood out. If The Lone Ranger loses $190m as experts fear, the film will earn the dubious accolade of the biggest box office flop of all time. ~ World News Views Co-star Johnny Depp has blamed the movie’s failure on terrible reviews … starting before the film was even released.

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When your film inspires phrases like The Guardian’s “something that isn’t exactly a gallop, more like the protracted convulsive thrashings of a dead horse with its hoof jammed in the electric socket,” you may face some problems at the box office. But as we all know, many critical failures still make lots and lots of money. In fact, like Lone Ranger, World War Z was roundly slammed by critics before its release … but it still cracked the half-billion dollar mark at the box office, making it Brad Pitt’s highest-grossing movie. So let’s look at it from a more businesslike point of view. Problem #2: Lone Ranger was a me-too product As Disney’s Dave Hollis indicated above, Lone Ranger is a classic example of what I call Extruded Film Product (EFP) — a formulaic collection of “sure-fire” elements designed to make money. The business version is a “safe” business that may not be what you particularly want to do, but that conventional wisdom says will always be in demand. It’s your mom telling you to become an orthodontist, even though your soul cries out to devote itself to interpretive dance. As anyone who goes to big-budget movies knows, Extruded Film Product can make plenty of money. Disney went to the press lamenting why on earth it didn’t happen this time. But it’s not that hard to figure out. There’s a missing ingredient in bombs like Lone Ranger that successful EFP films (and businesses) have in spades. For example, Despicable Me 2 had it — and spanked The Lone Ranger at the box office. We’ll talk about that missing ingredient in a minute, but first let’s talk about the not so sure-fire elements.
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