Dolly Parton And Protecting Your Intellectual Property

Elvis Presley wanted to record
Dolly Parton’s song
“I will always love you”
but he wanted half of the publishing rights
to do so.

Dolly Parton said no.
“I said,
‘Well, now it’s already been a hit.
I wrote it
and I’ve already published it,
and this is the stuff
I’m leaving for my family
when I’m dead and gone.
That money goes in
for stuff for my brothers and sisters
and nieces and nephews,
so I can’t give up half the publishing,’
and he said
‘Well then, we can’t record it.’”

“You have to take care of your business.
Everybody’s going to use you
if they can.
These are my songs.
They’re like my children.
And I expect them to support me
when I’m old.”

Protect your intellectual rights.

Can You Survive EVERY Scenario?

Most business builders
are skilled at looking
at probabilities.

But we tend to
focus on the scenario
with the highest probability
of happening.

If there’s a 70% chance
our new product will succeed,
for example,
we prepare only
for that scenario
and we launch the product
assuming it WILL succeed.

But what if the 30% probability scenario
becomes reality?
What if our product fails?
What if our business
can’t survive that failure?
Should we still launch
that product?
Is the upside
worth that risk?

These are questions
we should be asking.

Consider ALL scenarios
when making a decision.

Mitigate your risks
if the worst case scenarios
become reality.

And ensure the upsides
of taking action
are worth the possible downsides.

Live to business build
another day.

Ask Why

A marketing expert
mocked a florist
for having a “No Photos” sign.

He believed the issue
was other florists
stealing her designs.

I suspect the issue
was every teenager in the neighborhood
filming TikTok videos
in the florist shop,
prohibiting anyone
from shopping there.

We all make assumptions
regarding other people’s motivations.
That’s human.

But, before we make
business decisions
based on these assumptions,
we should ask the person
what their TRUE reason
for doing something was.

Assumptions are often wrong.
Verify them
before you act.