"Wrestlers": What We Can Learn For Our Business From Netflix's Documentary
Three Things I Learned In SaaS, Sports, Tech & Live Events
"Wrestlers" - The Netflix Documentary on Al Snow's Ohio Valley Wrestling could be taught as a full semester course in business school. The show chronicles the plight of a small wrestling business which has been around for decades but is struggling to adapt to the ever changing environment around them (spoiler: the Netflix exposure gave them a huge bounce after the show). What I learned watching "The Wrestlers" and have seen in my career:
"How we've always done it" - those sinking the ship are often the ones stubbornly killing their own business who will fight any change. OVW was once a prominent player in wrestling. Back in the day, there were wrestling territories. These were smaller outfits who would act as a feeder system to the bigger businesses - WWE, WCW (now owned by WWE) and AEW. In the past decade, the WWE has bought up territories and created their own minor-league where they develop talent. At the same time, cable TV, especially regional cable, has fallen off a cliff. OVW was on a fast track to bankruptcy until two new investors bought in. It's a fascinating watch to see how stuck in the past the wrestlers and Al Snow are when discussing what to do next. An example: The new investors wanted to tour more and partner with local venues - which seemed successful. Al wanted to build to a big Pay Per View at the end of the year with the goal of 500 buys. They got 70. Yes, 70. At $15 a piece, that's a whopping $1,050. That market opp had passed, and they wouldn't adapt. It will happen to you too. How we do things in our business today is so different than five years ago. Oh, and when you're trying to implement change in your org or a customers? You'll get the same pushback. It isn't nefarious, it's human nature.
Never act impulsively in the moment. There are multiple blow-ups between managers, investors, and the "talent." People get heated. It happens. That's not the time to do anything. This isn't a Morgan Wallen tune. Get out of there before you damage your culture.
Wanting something isn't enough. A harsh reality in life is watching someone who really wants something, works hard for it, and doesn't get it. The show is full of people who won't let go of a dream that just won't happen - both in the "talent" and on the business side. And they're stuck because of it. I wanted to play in the NBA. Good thing I gave that up as I love what I'm doing now. We can get stuck rooting for people, but, in the end, this is a business. We have to love them enough to help them move on. The show provided a bump for the stars. Had it not come to town, they were all reduced to wrestling in parks in front of hands full of people while working the night shift at the Holiday Inn to make ends meet.
I only get to watch a little TV, but The Wrestlers was worth my time if you're looking for something to watch.