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HomeLegal InsightINDUSTRY MYTHS: SeedLegals Cracks Down On TV And Film Business Myths

INDUSTRY MYTHS: SeedLegals Cracks Down On TV And Film Business Myths

Whilst the real-life business sector continues to thrive with more and more businesses founded every day, the TV and film industry are jumping on the market bandwagon, expanding on corporation classics such as The Wolf Of Wall Street and The Founder.

But with so many business, finance, and corporation programmes out there, it’s hard to know if what you’re watching is actually true.

LegalTech company SeedLegals have lifted the lid on some of the top business films and programmes to date, using their expert analysis to decipher which of our favourite scenes are true, and which are actually industry myths.

Take a look at the full list below on the full rundown here.

Inventing Anna

The Netflix mini-series tells us the wild true story of Anna Sorokin, as well as laying down some facts about investors. If you have an investor on board, it is easier to get another investor, this is a fact, typically it’s easier for investors to buy into a business when another investor has already validated it. With investment comes trust and confidence in your business, and other investors will be able to recognise this and follow suit.

The Dropout

The recently launched drama is another example of a true story, outlining the story of Theranos and its founder Elizabeth Holmes. However, The Dropout also gives us our first big myth surrounding business investment without knowledge. The businessman served as Theranos’s eccentric, paranoid president starting in 2009. He was widely criticised for his lack of expertise, specifically when it comes to medicine and medical technology.

Succession

The dark comedy Succession is not based on a true story but does bring some business facts. During the series, an investor pulled out of the deal because of a poor relationship with an entrepreneur, which is a real-life fact. It is important to sustain a positive relationship with your investor, as not only do they assist with financial needs, but they also support the success and progression of your business.

The Social Network

Despite the popularity of The Social Network, it provided the industry with a lot of business myths. It is a myth that your business will take off instantly, and that you will live life lavishly. Not only can growing a business take years, but fledgling businesses often need to stick to a budget. During the early stages of business, patience and resilience are essential.

Dragons Den

Another popular entry on the list, Dragons Den offers a fair few business myths and facts. Whilst it is a fact that making a connection is always important, it’s a myth that the entrepreneurs on the show only have 10 minutes to pitch their business plan. Whilst this is what we’re shown on our TV screens, the contestants have been known to have been grilled for almost 2 hours.

The Apprentice

The long running series has continued to grow in popularity across the UK, but contains yet another industry myth. Whilst we are convinced that it’s a 12 week long recruitment process where all bar one candidate is fired, this is a myth. The recruitment process may take 12 weeks, but in real life, candidates are usually working in other roles for this period until the final is aired.

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