Starting and running a business is just not enough. There’s only one important rule your business needs to follow or benefit from. It’s why struggling businesses like Gamestop and AMC survived Wall Street’s shorts. That secret foundation of success for any business relies on the importance of Big Ideas. So let’s look at how Big Ideas can save and boost your business like GameStop and AMC.
At The Copy Cartel, we believe communication of Big Ideas is fundamental to life. Without proper communication, you can’t achieve your vision. And if you can’t achieve your vision, you won’t be able to show your value. Without value, you’ll never be able to grow and succeed as a business.
That’s why every business needs to communicate their Big Ideas effectively.
Communication of the Big Idea
Originally introduced by legendary copywriter, David Ogilvy…
The Big Idea is about turning an ordinary thing into something extraordinary. This is also known as transubstantiation. This is where a normal thing is converted into an idea or symbol that is no longer abstract but now a literal truth to live by.
For example, Catholics don’t just drink wine and eat wafers- they drink the blood of Jesus and eat the body of Christ.
Now, how does this Big idea relate to what’s going on with GameStop, AMC and other retail stocks?
Keep on reading…
When it comes to the stock market, there’ll always be winners and losers.
With independent investors and hedge funds locked in a tug-of-war over the stock price of AMC and GameStop, independent investors finally turned the tables on hedge funds.
They forced a massive short squeeze that resulted in $19 billion of losses for institutional short-sellers.
Well, Wall Street bet that GameStop and AMC would go bankrupt. So they shorted the stocks by borrowing massive shares of GameStop and AMC at an initial price, sold them immediately in mass to drive the price down. That way, when they actually do buy the shares, they can pocket the difference.
But once popular forum Wall Street Bets caught wind of this, they rallied to buy shares in mass themselves, which only drove up GameStop and AMC. Thus these hedge funds had to cover their shorts by buying more themselves.
And a lot of hedge funds barely broke even. Some even went bankrupt.
This is because Wall Street Bets effectively communicated the Big Idea of finally getting one over on big bad Wall Street. The same Wall Street that tried to short GME, AMC, and other struggling stocks and run them down to bankruptcy.
It’s the Big Idea of collectively organizing and battling a corporate establishment. It’s the Big Idea that the little guy can finally come out on top and win at life for a change.
That Big Idea is an attractive sentiment that independent investors got behind and voted with their money. Plus, everyone loves a good underdog story.
Just read some of these quotes from Wall Street Bets:
- “AMERICANS CAN’T BUY GME, BB?!?! HELP IS ON THE WAY!! CANADIANS!! WE HAVE NO SUCH RESTRICTIONS!! BUY ALL THE GME AND BB YOU CAN!!! Not just Canadians!! The whole world is coming to help now!! WE ARE A GLOBAL FORCE TO BE RECKONED WITH!!! HOLD MY BROTHERS AND SISTERS!” – from WSB user ‘SubstantialTent’ 159k upvotes.
- “I can now write my mom a check and put my sister through Lymes (disease) treatment. This has been a very rough year, but I’m so thankful for every single one of you.” – from WSB user ‘Stammbomb’ 119k upvotes.
- “Ok listen up r——…I know it’s Friday and some of your short-term monkey brains are thinking about bailing on your brothers. Your paper hands are beginning to cramp up. I get it. BUT WE CANNOT SELL! There are still MASSIVE amounts of shorts on $GME. Still, well over 113% of total shares floated (from S3 Partners)…” – from WSB user ‘HoldUnitYouDie’ 17.5k upvotes.
With this Big Idea, you’re not just buying GameStop or AMC stocks, but you are now buying the demise of Wall Street hedge funds that bullied the little guy for years.
You are buying a financial revolution and your survival of evil capitalism. This just proves independent investors have voted for this Big Idea with their money.
They have spoken.
How the Big Idea saved GameStop and AMC
It’s this same Big Idea that also helped GameStop and AMC survive bankruptcy. Even though customers’ love-hate relationship with GameStop’s has been a mainstay, it’s a truth the gaming community accepts.
Besides, GameStop’s Big Idea was not to just sell games but to provide “power to the players” and give you a space and sense of community where you can buy, trade, and talk about video games.
GameStop wasn’t just a retail store, it was culture.
As a gamer, I have fond memories of talking shop with the retail clerk, waiting in line nerding out over the release of Mass Effect 3 with friends, and just looking forward to new releases.
I wouldn’t want them to go out of business because I appreciate their contribution to the gaming community and my happiness. Which was crucial for my mental health.
Same goes for AMC, the first movie I ever watched in the U.S. was Mean Girls. AMC gave me fond memories of watching my celebrity crush at the time, Lindsey Lohan on the big screen.
Or the time I watched 300 with my best friends from high school when it came out on my birthday at the mall.
These businesses still have a role to play.
And because independent investors have rallied to save these businesses, it speaks volumes to the power of having a Big Idea.
In return, these businesses need to revamp, adapt and recover in this upcoming post-pandemic era.
Fortunately, the surge in GameStop and AMC’s stock price saved them from bankruptcy.
AMC managed to raise $506 million in equity to get through this year on top of the cash injection it’s getting from its soaring stock price.
GameStop was only worth $300 million in August 2019. As of now, it has a market cap of almost $20 billion.
It’s safe to say, GameStop and AMC are still in business.
All thanks to Big Ideas.
So as a business owner, how will you communicate your Big Idea?
Why Your Business Needs Big Ideas
At The Copy Cartel, we just don’t see your business as a business that just needs to make profit.
Our Big Idea is that your business should be a beacon of light, growth, and prosperity.
That is the only way to profit. And the only way your business can profit is to effectively communicate your Big Ideas and value of your products or services to your customers.
I’ll let my friend and six-figure copywriter Barry Brown explain further:
“Businesses only survive for as long as they are useful to civilization and the survival of our species. The bigger the problem they solve… the bigger they grow.”
The Copy Cartel’s mission is to contribute to civilization and the survival of our species by providing your business the means to efficiently, ethically, and persuasively communicate your Big Ideas that will improve the lives of your customers for the better and help you reap those rewards.
How Big Ideas Make Businesses Successful
Every successful and major business (despite some capitalistic flaws) has a Big Idea. Big ideas are successful when they contribute to civilization and our survival as a species.
Your Big Ideas become profitable when customers or market votes for them with their money. This way you can reap the rewards and fruits of your contribution.
Strive to create Big Ideas that people can get behind and support.
Think of Apple for example. Apple just doesn’t make and design phones and gadgets they make and design your intuitive and comfortable life.
Coca Cola’s Big Idea is not just to make refreshing drinks but give you a brief moment of happiness with every sip. The Big Idea started from one of their early slogans in 1976…
“Have a coke and a smile.”
Microsoft doesn’t just make computers but provides you with WINDOWS (tee hee) through which you may access the most powerful tool to ever exist..
So what Big Ideas will your business come up with? If you’re still figuring that out…
We Can Help
Big ideas are a crucial part of communicating the value of your products and services in your business and we can help.
Because our mission is to provide consultation, inspiration and service to help your business grow.
All you have to do is reach out and work with us.
We look forward to hearing from you.
Until then, stay blessed.