3 of the Best Films for Young Entrepreneurs

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Here are 3 of the best films for young entrepreneurs to watch. There are lessons to be learnt with all three, so next time you’re having some downtime, check them out.

Boiler Room

This hidden classic is based on Seth Davis, a 19 year old college drop-out who joins a brokerage firm where he learns all about the art of selling. Selling is arguably the most important skill that you’ll need in business, and this film goes one step further by teaching us an important lesson.

Business lesson: Always be closing

Presenting your ideas, especially as a new/young entrepreneur can be quite daunting just like it was for Seth when he first joined the brokerage firm. You might have the fear of rejection, or the fear that someone will pick holes in your idea and make you look silly. These are all justified fears, but they shouldn’t prevent you from pitching your business. Seth was told “a good broker makes 700 calls a day”. No doubt this was probably exaggerated for movie-purposes, and of course those 700 calls need to involve quality conversations, but it still highlights the importance of consistently making attempts to get your clients!

Jim Young, one of the founders of the brokerage firm delivers a very memorable speech to his new recruits:

“There is no such thing as a no sale call. A sale is made on every call you make. Either you sell the client some stock or he sells you a reason he can’t. Either way a sale is made, the only question is who is gonna close? You or him? Now be relentless, that’s it, I’m done.”

Paid in full

Despite this film being based on three young drug-dealers in Harlem, there are still some priceless business lessons to take away from it. Fans of the film like to focus on the importance of Ace meeting Lulu (the plug), the quality of the cocaine that Ace was moving, and of course the memorable lines from Mitch throughout the film: “I love the game, I love the hustle” – Having good suppliers/connections, delivering a good product and being super-confident are all important things to consider in business, however Paid in Full teaches us another important business lesson which is sometimes over-looked.

Business lesson: You can’t hire a boss

Ace was doing extremely well in the drug dealing business, but he started facing some serious issues when he decided to…hire a boss. Building a strong team requires people who may need to play a “lesser-role”. Sometimes people need to be in the background, or play a role that isn’t going to get them the spotlight. This doesn’t take away from their importance though, every component is needed for the team’s overall success. Hiring someone with a “boss mentality” can easily cause problems, which is what Ace Boogie found out in this movie.

The Social Network

The social network is a depiction of Mark Zuckerberg’s journey as the young billionaire founder of Facebook. There’s always two sides to every story, and this is exactly what this film presents. Over the years, Zuckerberg has faced criticism for “stealing” the Facebook idea from the Winklevoss twins, who initially pitched the Facebook blueprint to Zuckerberg.

Business lesson: Execution out-weighs Ideas

Zuckerberg wasn’t the one with the billion-dollar idea. The twins had it. Zuckerberg stole/borrowed/implemented the idea and turned it into a global super-company. The film shows Zuckerberg working tirelessly in his dorm room to code the first draft of Facebook, which at the time was only available to members of his university. Zuckerberg has continued to innovate and push Facebook to new heights through his “get it done” attitude. The greatest ideas are useless without someone who can make it happen, and that’s unfortunately what the Winklevoss brothers lacked whilst they were at university. They had a great idea, they just couldn’t execute it.

 

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