Friday, January 2, 2015
Business Lessons from Willy Wonka
The story follows young Charlie Bucket, who manages to find one of five golden tickets hidden in delicious Wonka Bars. These tickets give the winners a tour of Willy Wonka's chocolate factory and a lifetime supply of chocolate. The five winners receive their prize tours, during which the other prize winners are eliminated one by one because of their poor behavior. Only Charlie manages to pass all the tests for honesty. In the end, it's revealed that his true prize will be the chocolate factory itself.
For us in the business world, the story of Willy Wonka and his chocolate factory is much more valuable than mere entertainment. It can teach us many lessons about successfully running a company. Here are just a few that every business owner should note.
The importance of innovation
Willy Wonka ran one of the most prized and valued chocolate companies in the world, with children of all ages eagerly consuming the chocolate in an effort to find the bars containing the sought-after golden tickets. One of the key reasons for the popularity of the brand was the sheer innovation of the factory's products. Whether an 'everlasting gobstopper' or 'three-course-dinner' gum, the treats created at the Wonka factory were unique and delicious. The ability of the factory to remain a trendsetter of the candy world led customers to remain loyal fans.
We, too, must continue to look for ways to innovate and better meet the needs of customers. Being content with the same products and services will not help our brands become industry leaders or help us find loyal customers.
Promotions can be the key to successful advertising
Customers and companies alike enjoy promotions, making them a fantastic marketing tool. While most companies will never enjoy the publicity Willy Wonka's factory enjoyed, with the competition and winners being featured on the news, it's still possible for nearly any promotion or loyalty program to gain traction. Social media can be a major asset in promoting such a program. Reward your customers and encourage them to return time and again. This is a wonderful way to gain name recognition and build loyalty.
The value of honesty
Willy Wonka managed to cultivate a superior business plan because he knew how to select workers, and he chose Charlie because of his honesty. The boy impressed the chocolatier because he turned down offers of money in favor of being completely forthright, impressing Wonka. Wonka knew that this boy had the values that would enable the factory to continue to grow.
We, too, should always look for employees and leaders who value honesty and integrity. A positive reputation will help build a culture of trust. In turn, this will help enhance the cohesiveness among the staff and encourage communication.
The story of Willy Wonka and his chocolate factory has delighted people for generations. Next time you watch one of the movies or read the books, take the time to learn a bit about business from Mr. Wonka. If you're ready to start building a new marketing campaign, contact us for help getting started.