When it comes to Bollywood, we relate it to films, larger than life sets, action, drama, dance and loads of entertainment. But we should also understand the fact that like any other business industry, Bollywood too is an organized industry in itself. And there is a lot to learn from this colorful industry. Let us take a look at some of the business lessons that our own Bollywood teaches us
One of the key lessons that Bollywood teaches us to experiment. It is often known as the battleground of experiments. Though the tried and tested formula is known to work everywhere, some experiments are always necessary in order to evaluate what else can work. Likewise in business, one should not be caught in the monotonous working models and try and experiment with what works best for you while keeping your overall vision in focus.
We generally see that certain banners and directors cater to a specific kind of audience. While some make movies for the mass audience, some work for a niche kind of audience. But at the end of the day, the important point is that everyone doesn’t make movies for every kind of audience, they understand their tg well, their behavior patterns, the demographics, all these factors help them make movies accordingly. Similarly, in any kind of business, it is important to know your target audience and develop strategies as per that.
In today’s world, Networking and Socializing are greatly responsible for generating business. This is applicable both in Bollywood and any other business. Meeting and connecting with the right kind of people does help get you leads and convert those leads into business opportunities.
This is one of the most relatable factors to learn from Bollywood. We often speak about the movies that end up doing business at the box office only because they are promoted well. Sometimes even when a movie is great content wise but is not promoted, many people don’t come to know about it and hence is not able to garner much revenue. Bollywood also teaches us another very important aspect of marketing, which is budget marketing. Bollywood often practices assigning of a pre-decided budget for marketing and that helps in remaining in control of things. While deciding marketing budgets for business, try and stick to budgets and don’t go overboard and have an action plan basis your needs.
One of the most important lessons that Bollywood teaches is that don’t just start the business when you feel so. Prep yourself well before you venture out. Just the way our directors first write the script or the actors prepare themselves for the role, dig deeper into your prospects and then set out to action it. Get into the skin and evaluate all possible strides before you take on things ahead.
The super learning you can get from the Bollywood Industry is to be not afraid of failing. Failing is part and parcel of life. One cannot taste the sweetness of success on a continuous basis. Every business has to go through some ups and downs. Like they say every Friday doesn’t go same for Bollywood, a business also is met with hits and misses. So don’t be afraid, if sometimes you fail. Bollywood teaches us to keep trying and accepting failure as part of the journey.