Scarface is an epic movie chronicling Tony Montana’s rise to power as an infamous drug lord. The movie is full of takeaways, legendary business lessons that apply to any business breaking new ground.
1. “Don’t get high on your own supply.”
Put yourself in the shoes of your customers and make sure you’re giving them the product they want. Research your target market and tailor your offerings accordingly.
2. “All I have in this world is my balls and my word and I don’t break them for no one.”
Your word is your bond in business when you’re building relationships and forming partnerships. Innovation isn’t easy. The old guard never likes having to adapt to competition stealing their business. You have to have the courage to disrupt the status quo and break new ground and that may mean making some enemies in the industry.
3. “You need people like me. You need people like me so you can point your fingers and say, ‘That’s the bad guy.'”
Mavericks will inevitably make enemies who hold on to the old way of doing business. The key is to work hard building a better mousetrap, to perfect your product, market it effectively and then the cream will naturally rise to the top.
4. “You know what capitalism is? Getting f#*ked!”
Your customers are taking what they need from you. It’s your job to make sure your setting a fair price for your goods or services. So many businesses have failed because they didn’t perfect their business model. You can provide the right product to a large market but if the price is wrong you’ll be closing up shop before you know it.
5. “Don’t underestimate the other guy’s greed!”
The industry stalwarts will often get complacent and try to milk their customer base for as much money as possible. That’s when opportunity knocks. Design more efficient processes for achieving their goals and set a fair price for consumers and you’ll succeed.
6. “The only thing in this world that gives orders… is balls.”
If you’re going to create a new business and manage your employee base, you’ll have to make tough decisions. Whether it’s dropping incompetent suppliers or firing employees you have to have the guts to maintain as lean an operation as possible. A focus on operating efficiently and investing in market research will keep your company competitive.
Matthew Crowder is the creator of QuoteJive, a volunteer community where quote lovers can share their favorite quotes from books, movies and TV. He’s a domainer and startup junkie with entrepreneurial ADD, always brainstorming and creating new solutions for people to collaborate share their ideas with the world.