Wednesday, April 06, 2011

Business Lessons of the Grateful Dead



I know there must be some serious capitalists out there who love their free markets, free hugs and heady jams. There is a new book coming out just for you.

Thanks to my good friend @BeepGillespie who enjoys 2/3rds of that combo for finding the article.
"...in this book Barnes shares the ten most innovative business lessons from the Dead's illustrious career, including:

-Creating and delivering superior customer value
-Incorporating and establishing a board of directors early on
-Founding a merchandising division
-Giving away your product for free to increase demand
-Learning do-it-yourself business by in-sourcing
-Creating a business tribe by collaborating with fans

Above all, Barnes explains how the Dead were masters of what he calls "strategic improvisation" -- the ability to adapt to changing times and circumstances -- and that their success lay precisely in their commitment to constant change and relentless variation. For an extraordinary thirty years, the Dead improvised a business plan and realized their vision - and ended up making huge profits."

1 comment:

Da' ryl said...

Ya they were able to change with the times. but they were not good business men. they had way to many people on there bankroll and felt like they always had to tour to keep these people employed. they did create an empire but with a lot of mistakes. There should be a book about how phish did it because they created a similiar empire but with lay less mistakes and people that depend on them to make a living. Imgaine if the Dead could have taken a few years off and came back with fire and vigure instead of fizzling out at the end. I mean who purposly puts on a show from the 90's.