If you didn't see BBC's one hour documentary 'The World's Greatest Money Maker' with Evan Davis interviewing Warren Buffett last night then I urge you to do so at the BBC iPlayer.
It was not just the most engaging hour's television I have seen in a long time, it was completely fascinating not just to understand Buffett's money making style but also to understand his thriftiness, lack of ego and the simplicity of his life.
He has promised his children they will get nothing of his inheritance and they are totally cool with that; he since given most of his £billions to Bill Gates' charity.
The most poignant part was an interview with his son (who had been given some Berkshire Hathaway shares by an Uncle some years before, and sold them to fund his musical career) saying 'I would rather have my music than $60million in the bank'.
And I just loved the way that Evan ended the show to say he had met many multi-millionaires in his time but that Warren Buffett was the only one he had met who was truly rich. Just brilliant TV!
Congratulations Evan.
Showing posts with label BBC. Show all posts
Showing posts with label BBC. Show all posts
Tuesday, 27 October 2009
Saturday, 30 June 2007
Why Products Fail
Since writing my blog below about Peter Jones' new show Tycoon, I set up a Google Alert which has since sent me every online piece documenting - in excruciating detail - the failure of Peter's latest TV project.
When you are entrepreneur just starting out, at least you can mistakes (and there always will be mistakes!) in private, whereas we 'Celebrity Entrepreneurs' are always under the full and often embarassing glare of the media spotlight.
Although I actually feel for Peter, having been through my own very public 'media meltdown', nonetheless it did prompt me to think about what makes a great product (whether that be a TV programme, or any other creation out of which you intend to make money).
When the Dragons were first approached by the BBC and introduced to the talented producer Martyn Smith, who had been commissioned to create the concept for Dragons' Den, I think we all expected an X-Factor type show in a studio at White City.
Instead we were sent to a desolate warehouse in one of London's less safe suburbs, sat on mis-matching chairs in a bleak set and had no real instruction on what was about to unfold.
But when the first series of Dragons' Den was aired back in January 2005, it was clear just from watching episode one that the BBC had a hit on their hands. Although it was quite raw and the entrepreneurs weren't brilliant, to me that first series was by far the best - it had a great energy; the Dragon egos had not become bigger than the Show itself and the entrepreneurs were truly desperate for funding and support - not just after a free primetime TV ad.
In short, Martyn Smith threw out all conventional TV wisdom - and took the risk to create something briliantly innovative and original, which would change the way business TV programmes were conceived forever. And the BBC has been milking the formula relentlessly ever since (in fact, some would say the cow has long since run out of milk).
The reasons why Dragons' Den was such a success are exactly the same reasons why Tycoon - and many other products like it - failed.
Playing safe and following what others have done before may seem like a solid option to achieve success, but in business it is actually often the riskiest approach you can take.
When you are entrepreneur just starting out, at least you can mistakes (and there always will be mistakes!) in private, whereas we 'Celebrity Entrepreneurs' are always under the full and often embarassing glare of the media spotlight.
Although I actually feel for Peter, having been through my own very public 'media meltdown', nonetheless it did prompt me to think about what makes a great product (whether that be a TV programme, or any other creation out of which you intend to make money).
When the Dragons were first approached by the BBC and introduced to the talented producer Martyn Smith, who had been commissioned to create the concept for Dragons' Den, I think we all expected an X-Factor type show in a studio at White City.
Instead we were sent to a desolate warehouse in one of London's less safe suburbs, sat on mis-matching chairs in a bleak set and had no real instruction on what was about to unfold.
But when the first series of Dragons' Den was aired back in January 2005, it was clear just from watching episode one that the BBC had a hit on their hands. Although it was quite raw and the entrepreneurs weren't brilliant, to me that first series was by far the best - it had a great energy; the Dragon egos had not become bigger than the Show itself and the entrepreneurs were truly desperate for funding and support - not just after a free primetime TV ad.
In short, Martyn Smith threw out all conventional TV wisdom - and took the risk to create something briliantly innovative and original, which would change the way business TV programmes were conceived forever. And the BBC has been milking the formula relentlessly ever since (in fact, some would say the cow has long since run out of milk).
The reasons why Dragons' Den was such a success are exactly the same reasons why Tycoon - and many other products like it - failed.
Playing safe and following what others have done before may seem like a solid option to achieve success, but in business it is actually often the riskiest approach you can take.
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