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What can the movies tell us about business? More than you might think. There are

many movies out there that offer rich case studies of what drives success and failure

in business. I have chosen a few of my favorites which I go back to periodically for

inspiration and entertainment.

Jerry Maguire is one of the few movies that really gives a first hand account of the

unbelievable highs and lows you experience that first year as an entrepreneur. His

story is of a successful sports agent that finds his conscience. We watch him as he

goes from unfulfilled business success to the brink of total disaster and then finally

emerges as the triumphant agent who really does care.

It starts with a mission

Jerrys journey starts when he makes the rash late night decision to write a mission

statement and distribute it to everyone in his company at their annual conference.

He describes it: I had lost the ability to B.S., it was the me I had always wanted

to be.

That is how many businesses begin, with the search and belief that there is

something better to be created. An ideal. For anyone who is considering going into

business, I strongly encourage you to write a mission statement as early as possible.

For me, my first mission statement acts as a compass that represents the pure visionof what I hoped to create. Surely there are some things that change over time, but

the values and enthusiasm should not.

Whos coming with me

After the release of his mission statement, Jerry is unceremoniously fired and loses

all but one of his clients on the first day. As he packs his things to leave the office

for the last time he fully expects his assistant to come with him. She does not. In a

desperate attempt he implores the office, if anybody else wants to come with me,

this moment will be the ground floor of something real and fun and inspiring and

true in this godforsaken business and we will do it together! All decline except for

one.

When you take the big leap, many clients, colleagues, friends and family you

thought would be with you decline to come along for the ride. Starting something

new is not for the faint of heart. Be sure in what you believe and start with the

expectation that you will carry the vision alone because many times it will feel that

way.

To the brink and back again

I also like how Jerry Maguire shows us how low the lows can get. He remarks,

Twenty four hours ago, man, I was hot! Now Im a cautionary tale. You see this

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jacket Im wearing, you like it? Because I dont really need it. Because Im cloaked in

failure! In exasperation he utters what I feel is the best representation of what it is

like to be an entrepreneur in year one: It is an up-at-dawn, pride-swallowing siege

that I will never fully tell you about.

Entrepreneurs remorse, which is a natural feel ing as you navigate the quagmire that

is a brutal learning curve. Part of you regrets the day you started, but for those that

succeed the belief that you are fighting the good fight wins out.

Listen to your conscience

In the movie, Jerry constantly remembers truisms spoken by his mentor Dickie Fox.

These ground him and act as his conscience as he does business. As we see Jerry

finally succeed on his terms, you witness the well up of emotion and satisfaction that

comes with building something you are proud of. Dickie Fox says, Im not saying I

have all the answers. I have failed as much as I have succeeded. But I love my life. I

love my wife. And I wish you my kind of success.

Remember what you want to create, cling to it with all your might and enjoy the

ride.

Tags: Startups, Books & Movies

Quiet on the Set!Posted by Jonathan Iannacone

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If youve scheduled an appointment with us over the past few weeks you might have

noticed that parking has been quite scarce in Back Bay lately. This is because there

are no less than three major movies filming in our neighborhood with more set to

film in the next few months. You might ask yourself, has Boston suddenly become

the it place to be? Why here, why now? I can tell you the simple answerTax

Credits.

According to an October 12th Boston Business Journal article A Trickle-Down Storyfrom Hollywood, major movies have spent $154 million in Massachusetts since a new

Tax Credit came into effect in 2006. This compares to $67 million spent over the 7

years before the legislation. I would say the credit has been pretty effective so far,

wouldnt you?

If you can look past the inconvenience of that large production trailer sitting in your

preferred parking spot, you will arrive at a fundamental truth: the Tax Code might

be the single most effective tool the government has to influence behavior. Think

401ks, home ownership and sales tax holidays. Using the Tax Code works and it helps

to supercharge economic activity.

These movies need actors, extras, costumes, makeup artists, storage facilities andmovers. This is in addition to places to eat, sleep and shop. Translation: jobs. So the

next time you see Kate Hudson walking down Newbury Street, be sure to thank her

for doing her part to help the Massachusetts economy keep on rolling.

All the recent movie activity has given me an itch to write about what you can learn

about business at the movies. In the next few weeks, I will pick a few favorites that I

feel teach the most about successful business practices. Get your popcorn ready!

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226 Startups_ Jerry Maguire _ Verge Advisors)

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