With the newest Star Wars movie coming out next week, it has me thinking about maintaining success. The first Star Wars film (Star Wars: Episode IV-A New Hope) was released in 1977. The seventh Star Wars film (Star Wars: Episode VII-The Force Awakens) comes out in seven days. That is a time span of thirty eight years and a movie franchise that has greatly helped George Lucas accumulate a net worth of over $5 billion.
Maintaining success has a lot to do continuing to produce a quality product and preserving brand loyalty. George Lucas was able to create something that fans would enjoy and continued to stay true to his original creation. In 2012, Lucas sold Lucasfilm to Disney for $4.06 billion, forty one years after its creation of his production company. The several poorly received projects in his career did not prevent Lucas from continuing to take risks and find success.
Trying to emulate the success of someone like George Lucas is obviously easier said than done. Without large financial backing, it isn’t easy to take large risks. Sometimes smaller, safer choices can provide the financial backing to take that next big step. And sometimes those early choices can give investors the necessary confidence to back your product. Even Lucas needed the support of a 20th Century Fox executive who only helped make Star Wars a reality because he really like Lucas’ previous film, American Graffiti.
The truth is you never really know if your idea is going to be a hit. Sometimes you just need to take a chance and hope for the best. And if your idea is well received, never forget what made it good and keep true to those qualities. And maybe someday you can sell your idea for $4.06 billion. But, until then may the force be with you!
Maintaining success has a lot to do continuing to produce a quality product and preserving brand loyalty. George Lucas was able to create something that fans would enjoy and continued to stay true to his original creation. In 2012, Lucas sold Lucasfilm to Disney for $4.06 billion, forty one years after its creation of his production company. The several poorly received projects in his career did not prevent Lucas from continuing to take risks and find success.
Trying to emulate the success of someone like George Lucas is obviously easier said than done. Without large financial backing, it isn’t easy to take large risks. Sometimes smaller, safer choices can provide the financial backing to take that next big step. And sometimes those early choices can give investors the necessary confidence to back your product. Even Lucas needed the support of a 20th Century Fox executive who only helped make Star Wars a reality because he really like Lucas’ previous film, American Graffiti.
The truth is you never really know if your idea is going to be a hit. Sometimes you just need to take a chance and hope for the best. And if your idea is well received, never forget what made it good and keep true to those qualities. And maybe someday you can sell your idea for $4.06 billion. But, until then may the force be with you!
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