Have you ever wondered what it truly takes to create and run a successful company? BigSpeak Exclusive Keynote Speaker and co-founder of Netflix, Marc Randolph tells us exactly how to do that along with keynote speaker and entrepreneur Barbara Corcoran on her podcast Business Unusual.
There Will Always Be Naysayers
In the very early stages of Netflix, Marc describes the amount of people telling him “That will never work,” but he goes on to explain that there will always be people denying your idea and potential success. But how do you ignore these naysayers and gain confidence when you are still trying to build your idea and business? By practicing. Marc reveals the amount of times he practiced starting things: clubs, magazines, start-ups, all while people were denying his ideas.
When trying things and solving problems that nobody has ever tried or solved before, nobody is going to know any better. Those naysayers do not really know and furthermore, supporters do not really know, but it is up to you to try and find out no matter what voices you are hearing.
Sacrificing Your Ego
One incredibly difficult decision Marc Randolph had to make was between his ego wanting to run the company all by himself and wanting his company to be the strongest it could be. Before Netflix’s great success, co-founder Reed Hastings presented the idea of him and Marc working together full time to give the company the best chance of becoming successful.
According to Marc, being able to see the big picture of Netflix and choosing to run the company alongside Reed was the best decision he made for the advancement of the company. Setting your pride and ego aside is so important when it comes to running a business because at the end of the day, it isn’t just your dream coming to life, but your employees, your investors, and your customers.
Be In Love With the Problem
Being in love with the problem instead of your idea is incredibly crucial for the success of your company. According to Barbara, those who are obsessed with their idea do not have the flexibility to constantly create new designs or plans, which is what is needed to launch a start-up.
Mark emphasizes that understanding what the problem is and having the love and passion to try and solve it over and over is what it takes to be successful.
This article was originally published by BigSpeak Jul 14, 2021.
