The opera has long been regarded as the epitome of entertainment among the wealthy, as well as a symbol of a well-educated mind. For many, attending a performance at a famed opera house is a once in a lifetime opportunity. Offering a mix of both classical and new operas, the opera house becomes the doorway to an enchanted land. The process of creating that fantasy land, however, is based in a startling reality of paperwork and business plans. For the New York Metropolitan Opera, reality came crashing into their fantasy world as bankruptcy loomed.
Are there lessons that can be learned from opera’s stage? No subtitles required – the new business model of the New York Metropolitan Opera provides clear lessons for entrepreneurs at every stage of business.
After taking a look at 1) the New York Met’s history, understanding how the Met went from 2) headliners to show stoppers and 3) discovering how the NY Met changed course with a new business model, you’ll be prepared for 4) lessons for entrepreneurs that can help revitalize (or continue to improve) your business. Continue reading