Lesson #5: Branch Out To Build Your Base of Success
Lesson #5: Branch Out To Build Your Base of Success
Much like the Bank of Italy was a risk-taking endeavour, so too was Giannini’s tendency to give loans to out-of-favour industries. In the 1920s, sensing that Hollywood could develop an equally active film scene as was thriving in New York, Giannini committed funds to promoting the local industry. He wasn’t just out to make a profit; Giannini wanted to make films that had important socio-cultural messages behind them.
Whereas New York bankers were financing films with interest rate as high as 20 percent, Giannini began offering more reasonable rates of 6 percent to support those scripts he felt were deserving. One of the first films Giannini supported was Charlie Chaplin’s “Il Monello.” Within the film’s first six weeks, Giannini had made his money back, and went on to make even greater profits.
He had never been particularly interested in cinema, but much like the immigrants and workers he lent money to through the Bank of Italy, Giannini was willing to take risks for those ventures that he believed in. After Chaplin, Giannini gave a $2 million loan to help finance Walt Disney’s first feature-length film, “Snow White and the Seven Dwarves.” Again, Giannini realized an even greater profit than he ever expected. He went on to finance such Frank Capra films as “Once Upon a Night,” and “Happiness is Coming.” Capra was a Sicilian with whom Giannini felt a bond; that was enough for Giannini to make a deal. Between 1932 and 1952, the Bank of America would finance over 500 films and invest over half a billion dollars.
When San Francisco was in the depths of the Great Depression, Giannini came across the story of Joseph Strauss, a young architect who had created a design for a glorious Golden Gate Bridge to span the San Francisco Bay. Strauss had been unable to find a financier for the project. After realizing that the bridge could help the city’s people get out of their economic slump, Giannini agreed to give Strauss a $6 million loan. When it was completed in 1937, the Golden Gate Bridge was the largest suspension bridge in the world and helped put the city back on the map.
During World War II, Giannini came to the defense of many Italian Americans who were being threatened with imprisonment. Following the war, Giannini also worked with Arthur Schlesinger to help speed up the shipment of aid to Italy; the Bank of America would send the amount headed for Italy without any interest.
Time and again, Giannini was willing to step outside the world of banking and help support those projects he believed would have a positive impact on society. It was in doing so that he expanded his success and the lasting legacy he would leave.
Lesson 5 Branch Out To Build Your Base of Success
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Though you might not know it since Giannini never liked to toot his own horn, America’s most beloved banker actually had a significant impact on American culture that was far removed from the world of banking. From cinema to architecture to relief efforts overseas, Giannini devoted much of his resources to causes he felt equally passionate about. It was in doing so that he is today remembered as not just a great banker, but a great supporter of entrepreneurship in all its various forms.
Much like the Bank of Italy was a risk-taking endeavour, so too was Giannini’s tendency to give loans to out-of-favour industries. In the 1920s, sensing that Hollywood could develop an equally active film scene as was thriving in New York, Giannini committed funds to promoting the local industry. He wasn’t just out to make a profit; Giannini wanted to make films that had important socio-cultural messages behind them.
Whereas New York bankers were financing films with interest rate as high as 20 percent, Giannini began offering more reasonable rates of 6 percent to support those scripts he felt were deserving. One of the first films Giannini supported was Charlie Chaplin’s “Il Monello.” Within the film’s first six weeks, Giannini had made his money back, and went on to make even greater profits.
He had never been particularly interested in cinema, but much like the immigrants and workers he lent money to through the Bank of Italy, Giannini was willing to take risks for those ventures that he believed in. After Chaplin, Giannini gave a $2 million loan to help finance Walt Disney’s first feature-length film, “Snow White and the Seven Dwarves.” Again, Giannini realized an even greater profit than he ever expected. He went on to finance such Frank Capra films as “Once Upon a Night,” and “Happiness is Coming.” Capra was a Sicilian with whom Giannini felt a bond; that was enough for Giannini to make a deal. Between 1932 and 1952, the Bank of America would finance over 500 films and invest over half a billion dollars.
When San Francisco was in the depths of the Great Depression, Giannini came across the story of Joseph Strauss, a young architect who had created a design for a glorious Golden Gate Bridge to span the San Francisco Bay. Strauss had been unable to find a financier for the project. After realizing that the bridge could help the city’s people get out of their economic slump, Giannini agreed to give Strauss a $6 million loan. When it was completed in 1937, the Golden Gate Bridge was the largest suspension bridge in the world and helped put the city back on the map.
During World War II, Giannini came to the defense of many Italian Americans who were being threatened with imprisonment. Following the war, Giannini also worked with Arthur Schlesinger to help speed up the shipment of aid to Italy; the Bank of America would send the amount headed for Italy without any interest.
Time and again, Giannini was willing to step outside the world of banking and help support those projects he believed would have a positive impact on society. It was in doing so that he expanded his success and the lasting legacy he would leave.
Lesson 5 Branch Out To Build Your Base of Success
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Dianne CramptonDianne Crampton is an executive leadership coach, team culture consultant, author and president of TIGERS Success Series, Inc. Dianne has been helping CEO's and Executives connect their employees to their core values and goals for over 20 years using the trademarked TIGERS team culture process, which stands for trust, interdependence, genuineness, empathy, risk and success. To download a free white paper on behaviors that build strong teams and behaviors that will predictably tear them down go here. Dianne's contribution to the 2010 Pfeiffer Consulting Journal (an imprint of John Wiley and Sons Publishers) entitled TIGERS Hearted Teams is available in November 2009. Her new book TIGERS Among Us: 5 Winning Business Team Cultures And Why, Three Creeks Publishing will release in March 2010. To receive publishing discounts, subscribe to the free TigerTracks Newsletter here. - Visit Dianne Crampton's Website |
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Leanne Hoagland-SmithAre your sales where you want them to be? Will you be one of the few who achieves sales or business success or one of the many who have failed to change? Are you tired of being told you are like everyone else? Then you may find my first book on sales of interest. Be the Red Jacket in the Sea of Gray Suits, The Keys to Unlocking Sales available at Amazon or at http://www.processspecialist.com/red-jacket.htm. This book is a reflection of my no-nonsense approach to improving sales to overall business results. If you are truly committed to making sustainable changes, then I can help you secure a positive return on your investment because I focus on executable solutions not telling you the problems you already know you have. From training to corporate (group) coaching to executive one on one coaching, my approach is to assess, create awareness, build a goal driven action plan and then execute. The bottom line question is "Not do you or your employees know it, but do you or they want to do it?" Please call for a free strategy session at 219.759.5601. - Visit Leanne Hoagland-Smith's Website |
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Linda RichardsonLinda Richardson is the Founder and Executive Chairwoman of Richardson, a global sales training and performance improvement company. As a recognized leader in the industry, she has won the coveted Stevie Award for Lifetime Achievement in Sales Excellence and she was identified by Training Industry, Inc. as one of the “Top 20 Most Influential Training Professionals.” Ms. Richardson is credited with the movement to Consultative Selling and is the author of ten books on selling and sales management, including Sales Coaching — Making the Great Leap from Sales Manager to Sales Coach, and Stop Telling, Start Selling. She teaches sales and management at the Wharton Graduate School of the University of Pennsylvania and the Wharton Executive Development Center. Linda is a frequent speaker at industry and client conferences, has been published extensively in industry and training journals, and has been featured in numerous publications, including The Wall Street Journal, Forbes, Nation’s Business, Selling Power, Success, and The Conference Board Magazine. Learn more about Richardson's sales training and performance improvement solutions at http://www.richardson.com web - Visit Linda Richardson's Website |
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