(Happy Halloween - here’s a conversation starter when the one-millionth Star Wars costume knocks on the door.)

Yes, Star Wars is a ginormous-dollar franchise.

But hear me out: they actually make the same mistakes everybody else does. It just costs them more.

See, Star Wars made money for about forty years, even though people have argued about every movie since Phantom Menace.

But “Solo” (the Han Solo origin story) set a record:

It was the first Star Wars movie ever to lose money.

And the reasons are the same age-old mistakes every business can make.

Here are three. I'm sure there are more. I'd love to hear your take.

Thinking in dollars, not people

Lucasfilm brought in the two guys who directed the Lego Movie. It was a big hit; they wanted a big hit too.

But these guys made loose, funny, improv-heavy stuff.

Then they paired them with Lawrence Kasdan, an OG Star Wars writer who wanted his script shot the way he wrote it.

The fight was inevitable from day one.

Most business owners have made some version of this hire. Don't be surprised when the creative, scrappy salesperson you hire won't follow the process.

Make the hard calls FAST

Apparently, the friction started early. But the two directors didn't get fired until production only had a few weeks left.

Then they bring in Ron Howard, who reshoots 70% of the movie.

I've certainly put off hard decisions too long. But it means you're running on hope, not reality.

I promise you, making a hard call today will save you a harder call tomorrow.

Quick message from today’s sponsor, then mistake #3.

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The person IS the product

People who love Han Solo don’t love Han Solo. They love Harrison Ford.

So Lucasfilm cast a talented younger actor to play young Han. Partway through the shoot, they reportedly brought in an acting coach.

They tried to nail the swagger. The cadence. The attitude.

But you can’t coach somebody into being Harrison Ford.

(If they could, they wouldn’t still be making geriatric Indiana Jones movies.)

This one hits small businesses every time the founder sells - or even just steps back. Customers notice. They didn’t just buy the plumbing or the bookkeeping. They bought the person who picked up the phone, and suddenly you’re building trust from zero again.

3 solutions

Thinking in dollars, not people. → Write down three sentences about how work gets done at your company, e.g. “We follow the script” or “We call every lead within an hour.” Ask candidates which ones would drive them crazy.

Make the hard calls fast. → Ask, “If I got fired and a new boss came in, what would they do?” If you find a tough answer, write down the cost of doing nothing.

The face is the product. → List your top 10 customers. Mark which ones would call you personally if something went wrong. The next time you talk or meet, loop in and introduce a second key person at your company.

That’s all for today.

Hope it’s helpful!

Michael

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From 1 to 100 Acquisitions: People, Processes, and Financing
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