{"id":4326,"date":"2020-05-06T07:00:21","date_gmt":"2020-05-05T23:00:21","guid":{"rendered":"https:\/\/dollarsandsense.sg\/business\/?p=4326"},"modified":"2021-03-16T16:49:49","modified_gmt":"2021-03-16T08:49:49","slug":"entrepreneurship-management-lessons-learn-netflix-tiger-king","status":"publish","type":"post","link":"https:\/\/dollarsandsense.sg\/business\/entrepreneurship-management-lessons-learn-netflix-tiger-king\/","title":{"rendered":"Entrepreneurship And Management Lessons We Can Learn From Netflix’s Tiger King"},"content":{"rendered":"\n

Taking the Netflix-watching world by storm, Tiger King has made it to most of our social media feeds, in the form of articles, memes or stickers.<\/p>\n\n\n\n

For those who have yet to acquaint yourselves with Tiger King, it is a 8-part true crime documentary that follows the story of Joe Maldonado-Passage, also known as Joe Exotic, and how he founded G.W. Zoo in the United States. In addition, Tiger King also documents the rivalry between Joe and Carole Baskin, an animal rights activist and owner of Big Cat Rescue, a non-profit animal sanctuary.  <\/p>\n\n\n\n

Even though the Netflix series was created mainly as an entertainment piece, there are important lessons that entrepreneurs can learn from Joe and his (mis)handling of his zoo.<\/p>\n\n\n\n

Read Also: 5 Lessons Entrepreneurs Can Pick Up From Professional Athletes<\/a><\/em><\/strong><\/p>\n\n\n\n

#1 Focus On Your Business, Not The Competition<\/h3>\n\n\n\n

Instead of directing his efforts at developing his business, Joe spent the bulk of his time antagonising Carole Baskin, his arch-nemesis. From producing death threat-related videos to countless lawsuits, every move Joe stemmed from his attempts to bring Carole to her downfall.<\/p>\n\n\n\n

Unsurprisingly, Joe\u2019s focus on his rival led to his negligence of the zoo, which resulted in plummeting profits. The Tiger King was left with little choice but to sign his beloved zoo over to his supposed business partner Jeff Lowe, marking his downfall.  <\/p>\n\n\n\n

While we\u2019re not saying to completely ignore the competition, it\u2019s important to focus on what matters most – your business. So as much as how keeping tabs on the other players in the industry helps with providing new insights and perspectives, rooting out the competition shouldn\u2019t be your priority.<\/p>\n\n\n\n

#2 Be Selective On Who You Work With<\/h3>\n\n\n\n

From his staff to business partner, Joe was never too bothered about their (lack of) credentials nor their background.<\/p>\n\n\n\n

Never mind that Erik Cowie, his head keeper, had zero experience with animal handling and had only taken on the job because it sounded cool, it didn\u2019t occur to Joe to vet Jeff\u2019s background before hastily having him on board as a partner – mistakes that would cost him dearly.<\/p>\n\n\n\n

In addition hiring people who can actually do the job you need, it is also important to have an understanding of the work ethic and values of potential employees. Ensure that they\u2019re able to fit into the existing work culture and that you\u2019re on the same track when working towards a common goal for the company.<\/p>\n\n\n\n

Read Also: 5 Interview Questions to Ask Potential Employees (And The Reasons For Doing So)<\/a><\/em><\/strong><\/p>\n\n\n\n

#3 Keep Your Ego In Check<\/h3>\n\n\n\n

As opposed to the welfare of his staff and animals, Joe seemed to be more interested in building his celebrity status. While tagging a personality (his) to the zoo\u2019s branding did help with the marketing efforts, Joe took it one step too far – by making the business all about him.<\/p>\n\n\n\n

Unfortunately, in his bid to run for governor, the Tiger King had completely put himself before the business by using the zoo to propel his personal cause, instead of vice versa. This eventually cost him the respect and support of his employees, an aspect that contributed to the zoo\u2019s demise.<\/p>\n\n\n\n

While it\u2019s fine to inject your personality into the business, it\u2019s important to know when to step back. Not only is it easy to lose sight of the objectives, indulging in your ego can be detrimental to the company\u2019s growth when your personal needs superseded good of the team or your customers.<\/p>\n\n\n\n

Read Also: Why Employee Development Is Important And How To Implement It<\/a><\/em><\/strong><\/p>\n\n\n\n

#4 Resourcefulness Is More Important Than Resources<\/h3>\n\n\n\n

Although he did eventually lose ownership to his zoo, Joe\u2019s resourcefulness was what turned a small pet store to a multi-million-dollar business.<\/p>\n\n\n\n

For instance, instead of reselling the wild cats as domestic pets, Joe had turned them into services such as leasing his animals to Hollywood studios, as well as conducting performances in malls. Faced with the challenges posed by Carole\u2019s protests that eventually affected his revenue from these performances, Joe branched out to other services such as cub-petting and photo-taking opportunities to sustain his business.<\/p>\n\n\n\n

We may not be on board with the services that G.W Zoo offers, but you have to admit that Joe\u2019s ability to expand and sustain his business with limited resources is a learning point for entrepreneurs. It pays to keep an open mind and be on the lookout for all possible ways to achieve what you desire. What you need could just be round the corner.<\/p>\n\n\n\n

What Can You Learn From Your Next Binge-Watching Session?<\/h3>\n\n\n\n

Whether you\u2019re looking to take a break or a new TV series to indulge in while staying home, Tiger King can be a pretty interesting and dare we say, educational choice.<\/p>\n\n\n\n

But we\u2019re sure that insights and valuable lessons are everywhere, if we bother to look. Here\u2019s to many more fruitful Netflix sessions!<\/p>\n\n\n\n

Read Also: 7 Inspiring TV Shows and Films Every Entrepreneur Needs to Watch<\/a><\/em><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"Curiosity doesn\u2019t necessarily kill the cat.\n","protected":false},"author":7,"featured_media":4328,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[364],"tags":[104,160,171,264,263],"yoast_head":"\nEntrepreneurship And Management Lessons We Can Learn From Netflix's Tiger King | DollarsAndSense Business<\/title>\n<meta name=\"description\" content=\"Here are some key lessons in entrepreneurship and management that we can learn from Netflix\u2019s hit documentary, Tiger King.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/dollarsandsense.sg\/business\/entrepreneurship-management-lessons-learn-netflix-tiger-king\/\" \/>\n<meta property=\"og:locale\" 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