Arrested Development is constantly quoted in our office. In its honor, we bring you the start-up lessons you can learn from the funniest show ever to be cancelled only after three seasons. And our lessons won't be generic, like the obvious 'don't embezzle' or the more obvious 'any swinger-related condo complex is a bad idea.' When finished reading, add your own in the comments section:
1. "There's always money in the banana stand."
George senior knew cash was king. For any business, cash-on-hand, not expended funds based on outstanding invoices, is the most powerful asset. If the economy tanks and your clients default, having a cash reserve protects your business in the what-if scenarios. Warren Buffet's grandfather knew this too: Ernest Buffet left $1,000 to each of his grandchildren in a safe deposit box, claiming the importance of cash (here). Warren took his grandfather's advice and the Berkshire group tries to keep at least $20 billion in reserve.
2. "STEVE HOLT!"
Great marketing lesson: keep it simple. Mike Troiano of Holland Mark, an advisor to Streetwise Media and a marketing genius (seriously, get him in a room, talk about your business and see what I'm talking about), preaches a marketing technique called One Simple Thing. OST is the one word that defines your business and influences all of your marketing efforts. Unbeknownst to him, Steve Holt is a name you'll never forget based only on his simple delivery. And although Steve Holt's OTS is actually two-simple things, I'm sure Mike would be proud.
3. "There's still plenty meat on that bone.You take this home, throw it in a pot, add some broth, a potato... baby you got a stew going!"
Be Resourceful, baby! If Carl Weathers knows only two things, they are how to lose a fight in Soviet Russia and when and how to get a stew going. Keep your eyes wide open on what you can use all around you to help meet your goals. Got a sales guy with a flair for marketing? Give him some marketing-related responsibilities. Developing a new web-product? Examine your existing codebase as well as open-sourced options to help you succeed.
4. Everyone has their own Chicken Dance
G.O.B, George senior, Lucille and Lindsay each have their own chicken dances, reflecting their own personalities. Idiocy aside ("Has anyone in this house even seen a chicken?"), the lesson here is to be yourself. For example, when preparing to pitch a VC, you should do what's comfortable for you. Don't fall into the trap of creating a generic presentation or attempting to "dress the part". VC pitches can be stressful enough, so you'll want to be in your comfort zone without having to focus on things that don't matter at the end of the day. By creating your own chicken dance, you'll be more relaxed for the pitch, keeping you laser-focused on showcasing your passion.
5. "That's why you always leave a note..."
Terrorizing his children with the help of J. Walter Weatherman, the one-armed man, George senior teaches the kids the importance of documentation. Be it proper code comments that help on-board new developers or getting any business deal in ink, 'leaving a note' makes any business more efficient and covers your ass if a free-lancer doesn't deliver.
6. "Watch out for bridges and hop-ons; you're going to get some hop-ons"
If your unique idea has turned into an early but successful business, people are going to copy you. Take Groupon, for example. When they became successful, literally thousands of competitors hopped-on the stair car that is the daily deal space. Hop-on competition is just the nature of the business beast. Keep an eye on your competitors, but only through the rear-view mirror. Too much focus on the competition is distracting and hampers creativity, plus you need to put your foot on the brake since there’s a traffic light in a half mile.
7. "I've made a huge mistake"
Easy one: own up to your mistakes as soon as they happen. Mistakes are inevitable, but realizing and communicating them as soon as they happen gives your business a chance to rebound quickly. Personally, the most valuable learning experiences I've had have come as a direct result of mistakes we as a company have made. Mistakes need to be discussed in an open and earnest fashion as well. Excuses and deflecting blame are a key-indicator of a messed-up company.
For fun, here is every "I've made a huge mistake" in Arrested Development:
8. "Her?"
Fielding unsolicited phrases like "I don't think your idea will work" is common place for every entrepreneur. No matter how excellent your product is, people are going to question your business (not to mention your sanity). But, as an entrepreneur, you must rise above the critics and do what you are truly passionate about to succeed (to be read in a Southern, gospel minister's voice). Which is strikingly similar to George Michael's love for Bland, I mean Anne. Although Anne, whose lynchpin snack is the may-on-egg, is constantly questioned as a worthy counterpart, George Michael isn't dissuaded because he loves her (or at least he thinks he does). No matter how many times people say "Her?" about your start-up, ignore them and you'll be better off for it.
