Business Rules Startups can Learn from King Khan- Shahrukh Khan
The lesser seen facet of the great SRK is that he is a brilliant businessman. The empire he has built over the past several years should be an inspiration and guiding beacon for aspiring entrepreneurs. Shahrukh Khan repeatedly says that he is no businessman and doesn’t know the nuances of running a successful business but there are a few mantras he lives by…
There isn’t an Indian, be it within India or abroad who hasn’t heard of Shahrukh Khan. He has been part of the Indian entertainment industry for decades. We first saw him in the television series Fauji in 1989. And now more than 80 Bollywood films, 14 Filmfare awards and a Padma Shri later he is known as the king of Bollywood and rightly so.
Do what you are passionate about
Shahrukh Khan believes that films are his mainstay and everything else he does is to finance his film production. Acting is his passion and going into production of movies that he wants to make is something he owes himself.
Shahrukh Khan ventured into film production in 1999 with Dreamz Unlimited Production Company. In 2002, Shahrukh, along with this wife Gauri khan, founded the Red Chillies Entertainment. It’s an Indian motion picture production and distribution company. RCE has churned out some major box office hits like Main Hoon na, Om Shanti Om, My Name Is Khan, Ra.One, Chennai Express and more recently Happy New Year.
SRK has endorsed numerous brands, from clothing line to beauty products, paints, cars, the list goes on. He has been questioned several times about the role played by endorsements in his career and his reply has been that films are his mainstay and the role endorsements have played is that they give him the freedom to do the kind of cinema he wants to do.
Use of Latest Technology to beat the competition
Hollywood has taken over the film industry in most countries. SRK firmly believes that the future of the film industry in India is at stake unless they up the level of technology “else 10 years from now there won’t be any Hindi film”.
One of the sub divisions of the RCE, Red Chillies VFX has handled the visual effects for various films. He collaborated with studios like Disney and Fox with the main purpose to get access to latest technology and the best guys in the business. VFXhandled the visual effects for the film Ra.One and won several awards for the same. Red Chillies VFX has worked on other Bollywood projects like Chak De India, Krrish 3 etc.
Marketing of the product
Shahrukh Khan while receiving The Creative Entrepreneur of the year in The Business Leaderships Awards 2011 stated that “it’s very very important in entertainment to get into merchandising, get into gaming and be on the net…”
You have to make the public aware of what is being offered to them. The publicity campaign for the film Ra.One was not seen before in the history of Indian cinema. The publicity strategy involved marketing spread over a period of nine months, major brand tie-ups amounting to 52 crores and viral marketing.
Synergise
He is a firm believer that the synergy generated from the coming together of various businesses is a win-win situation for all partaking in it.
When various corporate houses sponsor his movie productions, Shahrukh Khan believes in building a symbiotic relation with them. In the end everyone walks away gaining multi-fold.
Learn from the best
The ultimate aim is to learn and incorporate learning in business ventures.
SRK admits that he is learning the ropes of the business world by interacting with the big wigs of the corporate world like Mukesh Ambani, R.K Krishnakumar of Tata Sons, K.V Kamath.
Get the right people in
Right people means half the job is done!
Shahrukh Khan realised he needs people who have correct skill set and also you need a certain amount of professionalism to run the company with people who are ‘dedicated to the purpose of the company’ than to his.
Take risks
He has taken risks and has succeeded in them.
Shahrukh Khan played negative roles in various films when he was constantly advised not to do so. He was told that his career would come to an end if he took such risks. But these risks paid off.
Give your business time
Every business has a gestation period, give it time before you can start reaping the fruits of your labour.
To ‘stick it out’ is an important aspect of being in business. Shahrukh khan faced many setbacks and failures. He shut down a dot com company. He had to sell his equipment leasing division. But on the other hand Red Chillies VFX has been successful and has grown in the past decade and half. If one sticks long enough, business will eventually grow.
Diversify
Under the Red Chillies Entertainment banner there are various divisions.
Red Chillies TVC has been producing commercials for international brands like Hyundai and Pepsi. Red Chillies VFX is a state-of –the-art studio handling special effects for numerous films in the industry. REC has also ventured into television industry. Shahrukh Khan, A sport enthusiast, with a deep understanding of the entertainment business, brought the two passions together in the form of Kolkata Knight Riders.
Shahrukh Khan has joined hands with KidZania, a Mexican edutainment company. He believes KidZania is the new and fresh direction needed in children’s entertainment sector.
Restructure when required
Red Chillies Entertainment has undergone changes and restructuring over the past few years.
Venky Mysore, CEO of KKR was brought to take on the responsibilities as of REC in 2013.
Shahrukh Khan has reached the pinnacle of success. He is the second richest entertainer in the world. He is man to be loved and admired. He is a superstar and always will be.
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