- In this video, I'm gonna share with you five things
that I've learned from the blockbuster
documentary about Fyre Festival.
So guys, I'm here in one of our car parks,
in one of our visitor attractions just so that you can
understand some of the reasons why I wanna talk about this.
So we have over a million customers come through the doors
of all of our attractions each and every single year
here in the UK and we've actually run festivals.
And we run lots and lots of events.
And I've learned some really great things
from watching the Fyre documentary
that I think can help grow your business.
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Thing number one that I learned was this guy was
really working out of his existing empire.
It's the cancerous DNA of entrepreneurs,
you wanna make sure you operate inside your existing empire
so you can leverage off of your customer database.
You can leverage off of your great management
that understand your business.
The big problem here was this guy had a management
and a team and a business that didn't know
how to run festivals.
Number two, there was so steps to success.
When I started my business, I was just a kid's entertainer
before we opened family entertainment venues.
There was a step before we went for the big stuff.
Look at it with Richard Branson, he sold records
and stuff from a cardboard box.
He didn't go and start aeroplanes first.
They went for the big stuff before
they learned the steps to success.
Number three is knowledge of location.
When you're running festivals and outdoor events,
you've gotta understand the traffic plans.
How ya gonna move thousands of people
and do it really, really well.
We spent a lot of time understanding that stuff,
they had no clue.
Number four, Billy didn't actually stay teachable.
I try and stay teachable throughout all of our businesses
and I try and get the management team to change my mind
by elements of fact when things aren't going right.
When we can all see as documentary viewers
that things weren't going right and people were saying
to him, "This isn't going to work out."
He did nothing about it and he didn't do the right thing
in looking after his customers when he knew the problems
were about to really take off.
The fifth thing that I learned from the Fyre documentary
was what Billy was really good at, spectacularly good at
and that was marketing, but that's what his business did.
They were marketeers, they were really good
at joint venture influential marketing.
They got people to have big lists, big followings
and they got them to talk about the festival.
Now they did pay for it, but the dividends were spectacular.
And that is something that I think entrepreneurs
and businesses can really learn from.
You get good at marketing, you can
really get good at customers.
What he was terrible at was operations,
and if he had then got that right,
he'll have a spectacular future.
So there's some great learns from this Fyre documentary
on Netflix, especially for entrepreneurs, business owners
and leaders and managers of business.
What was Billy really good at?
Let's just really get to the crux of that.
Very good visionary, had a great vision,
therefore attracted loads of investment.
I think entrepreneurs can really learn from that.
Spectacular marketeer, most entrepreneurs' businesses
are just not good at marketing.
That was something that he was spectacularly good at
and his team was really good at it as well,
so that really did work for him.
What was he terrible at?
Operations, if that was his big vision, his big plan
to go and do a festival, he should of done a smaller one
in his home town or near where he lived so he could
build up some operational experience.
And then, he didn't do the right stuff about looking after
the people that were let down.
We've got things wrong in our businesses.
We always get things wrong in our businesses,
but we go to the ends of the earth to put it right.
And that's something that he didn't do
and that really leaves a bad taste in my mouth.
Hope you enjoyed the video.
Leave some comments below, what did you think?
I'll see ya very soon, bye bye.
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