Marvel Studios have dominated and reinvented the industry. They have been producing movies that garnered many fans globally with most films being hyped by movie-goers. The "blockbuster machine" has won many nominations and awards through the years and been a record-breaker in the worldwide box office. If you're wondering why Marvel is so good at what it does, here's our recap of HBR Ideacast Podcast: Business Lessons from How Marvel Makes Movies.
4 Business Lessons to Learn from Marvel Studios:
1. Creativity
Regardless of which industry you're in, it's important to always think outside of the box. Marvel shows us that even after being successful, they were never complacent.In the entertainment and movie production industry, creativity is essential. Marvel shows us how you should never be complacent and stick to just your typical goals and business goals alike. To further push your success and to be at the top of the race in the industry, you'll need to continuously think outside of the box. It's not much about inventing a new product or diverse into other markets but it's about being creative with your current situation.However, the typical business goals are not to be as creative as possible, but to be creative when you already have a prior product. Coming up with a product that builds on the success of the previous product, but extend them to be in a more compelling way.
2. Employees Diversity
Usual companies typically look for someone with prior experience in the same industry. However, Marvel does something very counter-intuitive. Instead of hiring good directors that's already highly experienced, instead, they hire anyone who is able to deliver strong storylines and characters regardless of your experiences.
3. In-Boarding Talents
In replacing the word "onboarding", Marvel "in-board" talents. This is something businesses should start to look at. Marvel brings talents into the organization and the talent brings in with them all of the outside leaning and experience that they already have.Inboarding that person's outside experience to change the way the organization thinks about what it is doing. Marvel lets employees create an imprint on the organization with outside knowledge.
4. Industry-Specific Hires
Although Marvel looks for diversity in hiring, they still prefer to bring in talents with industry-specific knowledge. Just that they have done different types of projects.For example, instead of consulting companies hire someone with an economics degree, they hire a chess master instead. They might not understand economics, but they understand strategizing and think several moves ahead of the game. It is equally valuable, just a different way of seeing what we're doing.
Summary
It is important to hire someone that is skilled especially in the role that you are looking for. However, hiring someone from a different background that could bring in the same skill-set that you are looking for will be killing two birds with one stone. You get an employee who knows what to do, and you get an additional member to bring in different perspectives to the company.Psst... You may also be interested in 5 Fun Facts Inside Google Office in Singapore.At Aspire, we envision a world where business owners have fast and simple access to the funding they need to grow. That’s why we’re on a mission to create an all in one Finance Operating Platform for growing businesses in Southeast Asia. Our current product provides SME and startup owners in Singapore with financial flexibility through a line of credit of up to S$150k. Which, can also be used to make business payments to enjoy 60 days free credit terms. With no monthly fees or obligations to withdraw, you only pay interest on the amount you end up using. Opening an account is free and can be done online here.
Frequently Asked Questions
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