Today’s Show Recap

Thanks for listening to Makin’ It. On this week’s episode, we talk about the changing face of television, the Makin’ It Success Stories this week features the Ultimate Fighting Championship® (UFC) and, on Makin’ It or Breakin’ It, whether people be able to make money off the Confederate flag. Let us know what you think of the show in the comments section at the bottom of the page!

Let’s get ready to rumble!

Tommy, Todd and Brittany start the show by continuing to talk about the changing face of television. In a previous episode, listeners wrote in and wanted to hear more about the future of television, so the gang decided to continue the conversation. The way we watch television has certainly changed in the last few years. In the past, people used to stay in on Friday and Saturday nights, just to watch the evening’s line up of shows. Now, with OnDemand, Netflix, and Amazon Prime, people can watch television however much they want whenever they want. Moreover, as the way we are watching television is changing, so is the content. There are currently at least 400 shows in the universe of television across the globe, creating a lot of choices for people. The leadership at HBO has said they desire not just to create addictive programming, but programming that has something that is addictive for every audience. Addictive programming is where it’s at, it seems, and it creates an environment for the cream to rise to the top and, allows the customer to really be in control of what they are watching.

The customer being in control has put a lot of pressure on network executives to come up with addictive content. For example, Netflix has spent $6 billion to produce content. Netflix has a one-click cancel option, so the pressure is on to keep viewers entertained. And, the television consumer has gotten more sophisticated in what they want, some would say they have even become content experts, which drives the need for genuine, artistic talent.

Finally, with digital episodes of previous shows like “Friends,” “I Love Lucy,” and “The Andy Griffith Show” being readily available, networks are even competing with shows from the past creating more of a need for premium content, which is the way of the future…and the present. What do you think of the way television is going? How do you watch TV? How has the way television has changed affected you? Let us know in the comments section.

OMG Fact of the Week:
Minnesota has 90,000 miles of shore line; more than California, Florida and Hawaii combined.

In the next segment of the show, Tommy, Todd and Brittany do another installation in the Makin’ It Success Story Profile Series featuring the UFC. The UFC is another example of an idea coming from nothing and then becoming enormously successful, having recently been sold for $4 billion. Started in 1993 by the Gracie family of Brazil in their garage, it began as a means to teach people jui-jitsu. One of their students was a television producer, and the show went on from there.

However, they faced some difficulty when they brought the show to America, many people citing it as too violent. The UFC had very few rules at the time, and fighters could use any means of martial art to compete. They wound up having to go to Colorado just to hold an event. So, eventually, after struggles with Senator John McCain over the violence level, they brought in some rules. However, in the early 2000s, they faced bankruptcy, and were sold for $2 million to casino owners Frank and Lorenzo Fertitta along with their business partner, Dana White. The Fertittas and White knew going in that they were buying the UFC name for their money, knowing that everyone knew the brand, even if they didn’t want to admit to watching it because of how violent it could be.

In 2005, the UFC’s big break came when they got on Spike TV, the only network to accept, and created the “The Ultimate Fighter” show to help civilize the UFC’s appeal, enabling viewers to identify with the fighters. They launched the show following the WWE’s “Raw,” running ads during their timeslot. This was when WWE owner, Vince McMahon, took notice that UFC was stealing their audience, wondering why they would watch his scripted fighting shows when they could watch the real thing in the form of the UFC. McMahon actually tried to sabotage the UFC by trying to steal their announcer at the last minute, but was unsuccessful.

However, this experience made White realize he was in a league for which he wasn’t prepared, but it came with some valuable lessons. First, a lot of the times, it just takes a small tweak in your business to become successful, such as adding the reality show. Next, you have to get your audience just right. While many people didn’t like to admit they enjoyed the show because of its violence factor, they wound up adding one element to civilize it. And, finally, even if you don’t have a lot of money, you can still get innovative, such as how he advertised during a competitor’s timeslot.

Other notable ways the UFC became successful was by studying many winning sports organizations and modeled itself after an existing winner, like the WWE and the Yankees, which greatly improved their chances at winning. And, finally, the UFC makes a fortune off their merchandizing, more than WWE events.

The UFC is an American success story at its best. What do you think of the UFC? Do you think it is too violent? What do you think of how they became successful? Let us know in the comments section.

Finally, Tommy, Todd and Brittany end the show with the Makin’ It or Breakin’ It segment. This week, they discuss whether people should be able to make money off the Confederate flag. Recently, a business in New Jersey took some heat for selling products featuring the Confederate flag. However, should people be offended by the selling of these products? First, we live in a free enterprise and, if something isn’t illegal, you are allowed to sell it. More importantly, are people just too sensitive in today’s society to be able to handle the sale of such items, and where does the line stop on that sensitivity? While everyone could be sensitive about something, the sensitivity about the Confederate flag is clearly a race issue stemming from the Civil War. However, when put in perspective, the Union Jack is also used as a fashionable item despite the war with Great Britain. What it boils down to is that people can certainly make the choice to sell products that might offend others, but they cannot control other people’s reactions, and consequences become a part of that choice. Do you think that people should stop selling products featuring the Confederate flag, or are people just too sensitive? Let us know in the comments section.

Thanks for tuning in to Makin’ It. Let us know what you think of the show and if you have questions about your business, send us an email at info@makinitnow.com or leave us a comment below. We love to hear from our listeners and we read comments on the air. We just might choose yours for next week’s show (so don’t forget to tune in!).

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Additional Resources for Entrepreneurs:

Order Tommy’s new book, The Way of the Rich at amazon.com, barnesandnoble.com, booksamillion.com and buybooksontheweb.com.

To learn more about the UFC, click here and here.

 

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