The 10 Lessons 'Breaking Bad' Taught Us About Running A Business
Fortunately for us, the last episode of "Breaking Bad" was nothing short of amazing. I mean what a way to end the show! Unfortunately for us, it was the last episode of one of our favorite shows. Now what are we left to watch? All good things must come to an end and this is just one of those shows that will live on forever.
Its impression on society will be around for years to come as there are many things we can take away from such a show. It's interesting to see how circumstances can push people's lives in a direction they never originally thought for themselves. Walter White never planned on becoming a great meth dealer but his circumstances gave him no recourse.
Jesse Pinkman and Walter were both entrepreneurs in their respective ways. When it comes to running a business, there are a lot of things that we have learned from the show. Their hard work and dedication can be can be matched by few and it is what differentiated them. Here are the business lessons we learned from "Breaking Bad."
There is nothing more important than being passionate about what you do.
Walter was a very intelligent man with a passion for chemistry. It just came naturally to him and he was extremely good at what he was doing. When you are passionate about something, you enjoy working in such a field. This allows you to be more willing to put in the hours necessary to accomplish what you set out for yourself.
Build a strong team, no one ever made it on their own.
To run a business, it takes an immense amount of work and dedication. As the dynamic meth duo showed us, nothing is impossible without having the right people around you. The reason Walter and Jesse were successful is that they worked well together. Taking the full responsibility of running a business upon yourself is a huge responsibility.
Divide up the work and hold each other accountable, these two worked well together because they each expected so much out of each other and pushed themselves in order to get things done.
Develop a skill in the field you are passionate about.
In every field, you must develop a certain skill that will differentiate you from other people. Walter was a great chemist and his ability to come up with the recipe for an amazing product was his unique skill. This in turn made him a marketable product that was able to earn him a lot of money. Jesse, on the other hand, was a great sales man. He had the right network and was able to use it in a way that was beneficial to him.
Your network is just as important as your product.
Now we all know that Walter would have never been able to push his product to the right people if it weren't for Jesse. His ability to network and build connections was very crucial to their success. Walter can't go around selling two pounds of meth to just anyone, he needed the right people. Your network it is a great way to build a clientele base, which will, in turn, allow you to bring your business to the next level.
Understand what success means to you and what you want to achieve.
Have a goal that you want to achieve and work towards it. No one was able to get what they wanted without first knowing what they were trying to get out of the experience. In any endeavor, you will need direction. Walter and Jesse had an idea of how much money they wanted to make, they may have not originally envisioned their great success, but at least they knew what they were working for.
Negotiate, it's the only way you'll get what you want.
Know what you are trying to get out of a deal and stick to your budget. Everything comes at a price, how you manage to control your profit margins will determine your success. Walter and Jesse both were good at negotiating, they understood what was a reasonable profit in order for them to go along with the transaction.
Have a plan, stick to it.
There is no particular road map that guarantees success, however there are routes you can take in order to achieve success. Build a system that works, adjust as necessary, but be sure to stick to the core of the plan. Walter and Jesse knew what was required of each of them.
Although their plan varied at times, they had the core down; make their product, transport it to the right person, exchange their product for cash and get out. Nothing more nothing less. By sticking to the plan, Jesse and Walter were able to grow and develop their business, Their plan kept them on track and it created a system that was efficient and effective.
You can't expect things to be easy, everything will come with its own headaches and obstacles.
Your life as an entrepreneur will come with many obstacles and difficulties, as nothing in life is a given. If things are coming to you easily then either you've lucked out or you're not doing things the right way.
Each industry comes with its own difficulties and obstacles, it's just part of the game. Jesse and Walter dealt with a lot of issues on their way to building their business. It affected their normal lives as well, but it was a choice they made while fully understanding the repercussions of their actions.
Be patient with people you don't relate to, it is essential.
Not every business transaction you partake in will be your favorite one, having to deal with people you don't like just comes with the territory. You will be annoyed with some of your clients and, at times, some of them will be difficult to deal with. However, as we learned from Jesse and Walter if a client is ordering consistently and paying on time, you will have to put your social preferences to the side.
There's no need for a person's personality to get in the way of making money. There will be plenty of people you can't stand along the way, but it's your job to keep your cool because business is business.
Get it done at all costs.
Walter and Jesse had a knack for making things happen, even in high pressure situations they were able to beat out the obstacles and provide their services. For example, when there wasn't enough Sudafed, Walter used another chemical in order to make his product. There was nothing these guys didn't do to make sure they were providing their client with the best.
We all know nothing is going to come easy and there will be a few obstacles along the road, it's the ability to stay focused on the end goal and get it done no matter what that will differentiate a businessman from the rest of the crowd. Walter and Jesse not only provided a great product, but they made sure their product reached their customers hands without issues.
Bonus: You're going to need a little luck.
No one ever made it on their own and without luck. Although every successful person would love to take all the credit for their success, they can't. Luck plays a role in many people's business ventures. You need a little bit of luck to get you through the rough times. Walter and Jesse found themselves in a few tight situations throughout the show and if it weren't for luck, they wouldn't have been able to get out of these predicaments.
Top Photo Courtesy: Fare Forward