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Fame Fascinates
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Overview Transcript Case Study Video
Robert Redford earning his deposit for the the property for his role in film, Butch Cassidy and the Sundance Kid.
Robert Redford earning his deposit for the purchase of the initial property that became the Sundance Resort. In his key role in film, Butch Cassidy and the Sundance Kid, he takes a flying leap to start his business. He'd no longer be just an actor.

Use A Famous Face. Since fame does fascinate, if you have it, use it. In the hit Broadway musical, "The Producers," the tall, sexy blonde named Ulla, belts out the lyrics to, "If You've Got It, Flaunt It." She is lecturing all of us from her position of power as a woman who has indeed flaunted her goods to get ahead. The show's creator, Mel Brooks, is all tongue-in-check which makes for plenty of hilarity but, in the end, Ulla is right. Sundance has Robert Redford and Sundance flaunts this fact.

Topic for Discussion: What is the problem with having a famous spokesperson?

Answer: First and foremost there is the potential damage which could be done to your company's image if that celebrity committed a crime or some major social faux pas.

Harry also warns that, "The use of a spokesperson is a really complex topic. If it's perceived as nothing more than an advertising gimmick, it can actually bounce back and harm you after the early going."

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Key Ideas of this episode Small Business School
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1. Put Your Own Skin In The Game
2. Admit What You Don't Know
3. Hire People Who Have Done What You Want To Do
4. Live, Eat, Sleep The Business
5. Use A Famous Face
6. Attach Yourself To A Cause
7. Be Thoroughly Authentic
8. Build A Brand
9. Buy As Much Technology As You Can Afford
10. Sell A Lifestyle, Not A Product
11. Understand The Competition
12. Anticipate Poor Cashflow
13. Expect To Fail  
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(continued from other column)

He also says we shouldn't be dependent upon the celebrity to deliver a long-term affect on any one customer. The celebrity might help win a new customer but if we fail to deliver quality products and services, the customer will not be back. And, we know from studying other catalog companies that the profit margins are created by repeat, not new, customers.

You think about it: Have you ever considered going after a celebrity endorsement? Is there a way for you to get to and convince a celebrity to even try your product or service?

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