There was an excellent article in the WSJ Saturday with business lessons from the Rolling Stones.
Choose the right name: The Stones used to be called “Little Boy Blue and the Blue Boys.” Enough said.
Know what the market wants from you: The Stones didn’t try to compete with the Beatles, but instead tapped into a much less wholesome genre. In other words, don’t tap the same niche everyone else is.
Beg, borrow and steal: The Stones borrowed music from other artists they loved and made it their own. This is very similar to incorporating “best practices” into your real estate or mortgage business, and why it is necessary to watch what your competitors are doing.
Cut the anchor before it drags you down: The Stones punted Brian Jones b/c he had a drug problem. Businesses obviously have “anchors” too – weak managers, employees with bad attitudes, etc. and unfortunately most businesses do not cut them soon enough.
Never stop re-inventing yourself: This is my favorite, as the Stones did it over and over: 60’s acid; 70’s groove, 80’s new wave, etc. It amazes me how many realtors who excelled prior to 2008 are no longer doing as well now, and how almost all of today’s top realtors rose up after the 2008 meltdown. The pre-2008 crowd clearly was not ready to re-invent itself.
As for JVM, it took a while, but we are definitely 100% re-invented now, and much better for it.
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