Those who know our Managing Director will understand that he has a passion for music and if allowed can talk for hours about his favourite albums and bands.
Music bands are of course businesses. Without naming names, there are two 70’s bands which are still going strong in terms of creative and business success. This fact is indeed no mistake, so how have they achieved this?
Both had a clear vision & strategy when they started.
They created and built up strong brands. This was not by luck.
They were innovative, and they knew what they wanted to achieve.
They were passionate about their work and had a clear set of values.
And while the key leaders managed the business, when tough decisions had to be made, they made them.
Finally, they worked hard, very hard.
Both bands have generated seriously serious amounts of money over the years. In particular, one of these was, and continues to this day, to be ground breakers on how to generate cash away from core music and concert cash generators.
Both had, of course, big setbacks, declines, and crises along the way. But the leaders came up with a plan, and they fought back their way back time and time again. Indeed, one of these bands has even put together a very clear succession plan which they hope will allow the band to elongate their success and continue to make money for many years to come.
Irrespective of what industry you operate in, the above simply highlights that characteristics of leadership, strategy and measured risk will always apply if you truly want to operate a successful business.