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What Love Island Can Teach You About Business!

You can’t avoid hearing about Love Island this week. Even if you’ve never watched it, you probably have an opinion about the show, and the people in it – positive or negative!  It’s not all shagging and swimwear though! There are lessons you can take about business from Love Island. So, next time you need an excuse to binge on reality TV, keep the following tips in mind.

1. PREPARATION IS EVERYTHING.

If you know you’re going to be strutting around in swimwear on national TV, what’s the first thing you do? PREPARE! If you want to win, you’ve got to be in the best shape possible. The same is true in business. 

For the Love Island cast, being prepared for what they know is coming looks like hitting the gym months in advance. Not to mention the fake tanning, waxing everything in sight and getting eyebrows, lashes, nails and teeth done – and that’s just the guys! If you want to couple up, you’ve got to look your best! 

In business, preparing for success might not mean doing all these things (depending on what business you’re in!). However, the general principle is the same.

First you know what your customers want. Then, you have to prepare your product, service, route to market and pricing to be in exactly the right shape to be the most attractive. And this starts WAY before you ‘go live’ and launch.

 Me and Hayley from Love Island 2018 enjoying some daytime drinking

2. THERE’S NO SUCH THING AS FOREVER

The aim of Love Island is to couple up. Now while they all get to choose a partner at the start, it’s unusual for this to stay the same for more than two minutes. Everyone is constantly having their head turned by the next new person to enter the villa.

As In Love Island, in business you have to also be prepared to adapt to what you’re doing. You might find your dream customer, and have everything set up to please them.

But if a new market opens up, which is potentially a hell of a lot sexier – or more lucrative – you have to be prepared to make the leap, and change what you’re doing to get the bigger win!

 

3. GET OVER YOUR FAILED RELATIONSHIPS

Every Love Islander has a story about how their past relationships have failed. In some cases, this is the biggest catalyst for them actually getting on the show! Nothing says ‘I’m over my ex’ like taking part in a real-life version of Tinder and potentially shagging on live TV after all!

Whatever stage you’re at in business, you also need to be able to put your past failures behind you. If you’re taking risks, it’s inevitable that some of them are not going to work out and you will fail from time to time.

What’s important is to learn from your mistakes. If a particular strategy, partnership, hiring choice or decision ended in a messy breakup – learn from it, and MOVE ON!

 Talking business with Love Island’s Paul Knops

4. KEEP IT REAL

People can spot a bullshitter a mile off. If you’re fake, two-faced, gossip behind people’s backs and pretend to be something you’re not in the Villa, the Love Islanders will spot it and call you out on it. It doesn’t usually end well! 

You have to be authentic in business too. Don’t kid yourself that you can pretend to your customers or clients about anything – people can spot a mile off when something doesn’t quite sit right. The best strategy for success is to always be 100% honest – about who you are, what you’re offering, and why it adds value.

This is especially true if you’re looking for funding to grow your business. Any investor worth their salt is going to see straight away if you’re over-valuing or inflating your numbers. So, ultimately you’re just shooting yourself in the foot before you even get started.

 I hope you enjoyed this blog on Love Island business take-aways! I’ve got to know quite a few of the Love Island cast over the years. I love talking to them about ways to monetise their brand once the show is over and they become household names. If you want to hear some behind-the-scenes gossip, check out my interview with last year’s runner-up Paul Knops on my YouTube Channel.

There’s a load of other great business advice on my YouTube channel too, so if you have any requests on what topics you’d like to see covered in future interviews, then get in touch and let me know!

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AUTHOR 

Picture of Matt Haycox

Matt Haycox

Matt Haycox is a self-made entrepreneur who began his career revitalising a family uniform business. Despite experiencing bankruptcy during the 2008 financial crisis, he rebounded strongly. Today, he is a serial investor and lender, having invested in over 30 businesses and provided £500m of funding to UK businesses. His journey has transformed him from borrower to lender, and from operator to advisor, using his experience to assist other businesses and entrepreneurs

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