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Business Ideas – 3 Business Lessons From George Lucas

Business Ideas – 3 Business Lessons From George Lucas by Evan Carmichael

 

george lucas

 

Today we’re going to look at how a young man who wanted to become a professional race car driver changed his career choice after connecting with the right mentor and rose to the top of his industry. This is the story of Star Wars creator George Lucas and the top 3 lessons that you can learn from his success.

 

“The secret is not to give up hope. It’s very hard not to because if you’re really doing something worthwhile I think you will be pushed to the brink of hopelessness before you come through the other side. You just have to hang in through that.” – George Lucas

 

George Lucas (born May 14, 1944) is an American film producer, screenwriter, and director, and entrepreneur. He is the founder, chairman and chief executive of Lucasfilm and is best known as the creator of the Star Wars and Indiana Jones franchises. Lucas’ father owned a small office supply store that Lucas was destined to take over but he had other plans – he wanted to become a professional race car driver. Almost his entire childhood was dedicated to cars.

When he was in a near-fatal car accident just days before his high school graduation, Lucas gave up racing and went to college. He enrolled in the University of Southern California School of Cinema-Television because he liked photography and thought “maybe that will be interesting.” The program would change his life. He met Francis Ford Coppola at the film school who served as his mentor and inspired him to become a producer-director. Upon graduation he committed himself to doing films as his profession.

Today Lucas is one of the film industry’s most financially successful directors/producers. His estimated 2011 net worth is $3.2 billion and he’s received numerous honours such as being named among the 100 Greatest Americans by the Discovery Channel and receiving the Lifetime Achievement Award by the American Film institute.

 

 

Action Item #1: Love what you do

Action Item #2: Find something you’re great at 

Action Item #3: Keep going

 

 

True Story

Lucas wrote the screenplay for Star Wars after being inspired by Flash Gordon and Planet of the Apes. While writing it he thought that it was “too wacky” for the general public but he insisted on finishing it. When the script was finished, only Twentieth Century Fox was willing to take a chance on the movie. In a groundbreaking move at the time, Lucas agreed to give up his director’s salary in exchange for 40% of the film’s box office take as well as all merchandising rights and sequel rights. Breaking all box office records and winning seven Academy Awards, Star Wars made Lucas an instant millionaire as well as a household name.

 

 

More Quotes

“I’m extremely grateful that I discovered my passion. I love movies. I love to watch them, I love to make them.”

“It’s hard work making movies…if you don’t really love it, then it ain’t worth it.”

“I got the licensing rights because I figured they wouldn’t promote the film and if I got T-shirts and things out there with the name of the film on them it would help promote the movie.”

 

The Disney empire strikes back

The Disney empire strikes back

In addition to more details about new Star Wars movies, Disney reported strong sales and earnings. Other media firms are doing well too.

 

Colin Stokes: How movies teach manhood

Colin Stokes: How movies teach manhood

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When Colin Stokes’ 3-year-old son caught a glimpse ofStar Wars, he was instantly obsessed. But what messages did he absorb from the sci-fi classic? Stokes asks for more movies that send positive messages to boys: that cooperation is heroic, and respecting women is as manly as defeating the villain.

The director of communications for the non-profit Citizen Schools, Colin Stokes thinks deeply about the media he shares with his two young children.

WHY YOU SHOULD LISTEN TO HIM?

Colin Stokes divides his time between parenting and building the brand of Citizen Schools, a non-profit that reimagines the school day for middle school students in low-income communities in eight states. As Managing Director of Brand & Communications, Colin helps people within the organization find the ideas, words and stories that will connect with more and more people. He believes that understanding the human mind is a force that can be used for good and seeks to take advantage of our innate and learned tendencies to bring out the best in each other and our culture.

Before starting a family, Colin was an actor and graphic designer in New York City. He starred in the long-running off-Broadway musical I Love You, You’re Perfect, Now Change, as well is in several musicals and Shakespeare stagings. But he jokes that he seems to have achieved more renown (and considerably more revenue) for his brief appearances on two Law & Orderepisodes.

 

Jeff DeGraff: Breakthrough Innovation and Organic Growth (Create)

Jeff DeGraff: Breakthrough Innovation and Organic Growth (Create)

Jeff DeGraff: Breakthrough Innovation and Organic Growth (Create)

Green (Create) Characteristics:
–Visionary thinkers
–Big-picture thinkers and experimenters
–Surrounded by diverse people
–Quick and charismatic
Short attention span / unfinished projects
–Reliance on predictions and forecasts
–Ignore rules (hard to manage)
–Unique/ Individual/ Different
Embrace diversity and work with outside organizations
–Constant novel / new experimentation
–Inattention to detail

Green (Create) Optimal Environments:
–Multiple stimulating projects
–Flexible (and free of direction and management)
–Unorthodox work schedule
–“Greenhouse” funds in budget
Independent and group scenarios

Companies with Green (Create) Characteristics:
–Pixar
–Apple
Genentech

 

Jeff DeGraff: Organizational Culture and Competency (Collaborate / Yellow)

Jeff DeGraff: Organizational Culture and Competency (Collaborate / Yellow)

Jeff DeGraff, Dean of Innovation
Organizational Culture and Competency (Collaborate / Yellow)

Jeff DeGraff: Revenue, Profits, and Speed (Compete / Blue)

Jeff DeGraff: Revenue, Profits, and Speed (Compete / Blue)

Jeff DeGraff, Dean of Innovation
Revenue, Profits, and Speed (Compete / Blue)

Now let’s talk about the compete quadrant or the blue quadrant which is all about revenue and it’s all about going really fast. Well, being a business school professor I could tell you a lot about this quadrant because that’s what we train MBAs to be, right? They’re these kind of hard charging, look for the money, find it, show the revenue, pay the shareholders, get after it. Well these people are very goal and action oriented. It’s all about getting after it right now and they’re very much impatient. They’re very matter-of-fact. They’re very aggressive. They’re extremely competitive so everything is kind of a race with each other. They’re very decisive so they don’t take a lot of time to make decisions and they’re very challenging.

 

Jeff DeGraff: Large Scale Efficiency and Replicable Quality (Control / Red)

Jeff DeGraff: Large Scale Efficiency and Replicable Quality (Control / Red)

Jeff DeGraff, Dean of Innovation

–Now let’s take a look at the control position, the control competency, the control culture. Let’s look at the type of leaders, workplaces and practices that we need in order to create that incremental form of innovation that’s highly optimized. Remember, we’re looking for efficiency here and quality here. It’s going to be highly optimized so it’s not going to be radical innovation but there’s gonna be almost no risk in this form of innovation in the red position which is the opposite of the green position.

 

The Businesses of Disney

Nov. 8,2012 (Bloomberg) — On today’s “Bloomberg West,” Bloomberg News reports on innovation, technology, and the future of business at Disney. (Source: Bloomberg)