{"id":4898,"date":"2019-12-12T13:15:26","date_gmt":"2019-12-12T11:15:26","guid":{"rendered":"https:\/\/www.dazzlepop.net\/site\/?p=4898"},"modified":"2019-12-12T13:15:30","modified_gmt":"2019-12-12T11:15:30","slug":"netflixs-co-founder-reveals-one-essential-skill-entrepreneurs-must-build-to-motivate-teams","status":"publish","type":"post","link":"https:\/\/www.dazzlepop.net\/site\/netflixs-co-founder-reveals-one-essential-skill-entrepreneurs-must-build-to-motivate-teams\/","title":{"rendered":"Netflix\u2019s Co-Founder Reveals One Essential Skill Entrepreneurs Must Build To Motivate Teams"},"content":{"rendered":"<div style=\"text-align:center\"><\/div>\n<p>Carmine Gallo and <a href=\"https:\/\/www.dazzlepop.net\/site\/category\/news\/\">Netflix Co-Founder<\/a>, Marc RandolphGALLO COMMUNICATIONS<\/p>\n\n\n\n<p>Silicon Valley loves a good origin story. Here\u2019s one story that\u2019s become the stuff of legend.<\/p>\n\n\n\n<p><em>Reed Hastings found an old VHS rental copy of \u201cApollo 13\u201d he had forgotten to return to Blockbuster. He brought it back to the store and was charged a $40 late fee. Reed asked himself, \u201cWhat if there were no late fees?\u201d And boom! Just like that\u2014Netflix was born.\u00a0<\/em><\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/secure.gravatar.com\/avatar\/f11a21fd14260c5948d3cd2bf33ba2b0?s=400&amp;d=mm&amp;r=g\" alt=\"Netflix\u2019s Co-Founder Reveals One Essential Skill Entrepreneurs Must Build To Motivate Teams \" \/><\/figure>\n\n\n\n<p>\u201cThe story is beautiful. It\u2019s useful. It is, as we say in marketing,&nbsp;<em>emotionally&nbsp;<\/em>true. But it\u2019s not the whole story,\u201d writes Netflix co-founder, Marc Randolph, in his new book,&nbsp;<a href=\"https:\/\/www.amazon.com\/That-Will-Never-Work-Netflix\/dp\/0316530204\" target=\"_blank\" rel=\"noreferrer noopener\"><em>That Will Never Work<\/em><\/a>.&nbsp;<\/p>\n\n\n\n<p>I recently visited Randolph in Santa Cruz, California, the town where the Netflix origin story first took shape. We spoke at length about the stories <a href=\"https:\/\/www.dazzlepop.net\/site\/category\/news\/\">entrepreneurs<\/a> tell and why\u2014even though founding myths don\u2019t represent the\u00a0<em>whole\u00a0<\/em>story\u2014they\u2019re critical to share.\u00a0<\/p>\n\n\n\n<figure class=\"wp-block-embed-youtube wp-block-embed is-type-video is-provider-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<div class=\"epyt-video-wrapper\"><iframe loading=\"lazy\"  id=\"_ytid_63616\"  width=\"1170\" height=\"658\"  data-origwidth=\"1170\" data-origheight=\"658\"  data-relstop=\"1\" src=\"https:\/\/www.youtube.com\/embed\/eJdtzT11Li0?enablejsapi=1&#038;autoplay=0&#038;cc_load_policy=0&#038;cc_lang_pref=&#038;iv_load_policy=1&#038;loop=0&#038;rel=0&#038;fs=1&#038;playsinline=0&#038;autohide=2&#038;theme=dark&#038;color=red&#038;controls=1&#038;disablekb=0&#038;\" class=\"__youtube_prefs__  epyt-is-override  no-lazyload\" title=\"YouTube player\"  allow=\"fullscreen; accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen data-no-lazy=\"1\" data-skipgform_ajax_framebjll=\"\"><\/iframe><\/div>\n<\/div><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">People Crave Origin Stories<\/h2>\n\n\n\n<p>Although epiphanies are rare and the life of a startup is complicated, we crave stories of lightbulb moments. \u201cWe want our Isaac Newtons to be sitting under the apple tree when the apple falls\u2026but the truth is usually more complicated than that,\u201d says Randolph.&nbsp;<\/p>\n\n\n\n<p>\u201cThe best ideas rarely come on a mountaintop in a flash of lightning, but it shows you how useful narrative can be,\u201d according to Randolph. \u201cIs it [the Netflix story] a lie? No\u2014it\u2019s a story. And it\u2019s a fantastic one.\u201d<\/p>\n\n\n\n<p>The entire Netflix story is \u2018messy,\u2019 says Randolph.&nbsp;<\/p>\n\n\n\n<p>For example, the Netflix origin story doesn\u2019t include the many ideas that Randolph pitched to his co-worker, Reed Hastings, on carpool rides from their homes in Santa Cruz to their day jobs in Silicon Valley.<\/p>\n\n\n\n<p>The <a href=\"http:\/\/www.netflix.com\">Netflix<\/a> origin story leaves out the other ideas that never saw the light of day; ideas like selling personalized shampoo or customized dog food over the Internet. The story leaves out the months of research, marathon meetings, hurdles, struggles, and near-death experiences on the Netflix journey.\u00a0<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/venturebeat.com\/wp-content\/uploads\/2017\/08\/netflix_logo.png?fit=400%2C200&amp;strip=all\" alt=\"Netflix\u2019s Co-Founder Reveals One Essential Skill Entrepreneurs Must Build To Motivate Teams \" \/><\/figure>\n\n\n\n<p>But that\u2019s the&nbsp;<em>long&nbsp;<\/em>version, not the origin story people want to hear.&nbsp;<\/p>\n\n\n\n<p>\u201cWhen you\u2019re talking to the press, an investor, or a business partner, people really don\u2019t want to hear it. They want a version that\u2019s neat and clean with a bow on it,\u201d says Randolph. \u201cReed recognized that almost immediately and came up with a story. It\u2019s a great one: simple, clear, and memorable. That story captures the essence of what Netflix is about. That story gave us a narrative.\u201d<\/p>\n\n\n\n<p>Randolph says successful entrepreneurs have an essential skill\u2014the ability to craft stories that make people feel connected to the company\u2019s mission; to \u201calign their compass\u201d in the same direction. Learning to write and speak well\u2014and to share compelling stories\u2014is a \u201cbottomless skill\u201d that all entrepreneurs and <a href=\"https:\/\/www.dazzlepop.net\/site\/category\/news\/\">business leaders<\/a> should strive to build, according to Randolph.\u00a0\u00a0<\/p>\n\n\n\n<p>Netflix wasn\u2019t a sure thing. After a few years of working day and night on their startup, Randolph and Hastings were still struggling. The dot-com crash of 2000 didn\u2019t help, taking the luster off of money-losing Silicon Valley startups. It set the scene for another great story.\u00a0<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Blockbuster\u2019s CEO Laughs at Netflix\u2019s Founders<\/h2>\n\n\n\n<p>In September of 2000, Netflix was on track to do $5 million in revenue while Blockbuster was making $6 billion a year from its 9,000 stores. Blockbuster was literally Goliath to Netflix\u2019s David. And we know what happened to Goliath.&nbsp;<\/p>\n\n\n\n<p>Randolph and Hastings traveled to Blockbuster\u2019s Dallas headquarters to propose a deal. If Blockbuster were to buy Netflix for $50 million, Netflix would run the online part of the combined business. As Hastings was delivering the presentation, Randolph noticed Blockbuster\u2019s CEO struggling to contain his laughter. Hastings and Randolph would have to figure out another way to survive.<\/p>\n\n\n\n<p>Fast-forward the story to today and Netflix is worth $150 billion. This week, it garnered a jaw-dropping 34&nbsp;<em>Golden Globe&nbsp;<\/em>nominations for its original content.&nbsp;<\/p>\n\n\n\n<p>Blockbuster is bankrupt.\u00a0<\/p>\n\n\n\n<p>Randolph frequently shares the Blockbuster pitch story in his keynote speeches and media interviews. The story serves two purposes.<\/p>\n\n\n\n<p>\u201cIt tells someone in a startup that anything\u2019s possible. Even a company that is deeply in debt, at the very end of the dot-com bubble collapse, with no experience in video, can eventually prevail over the $6 billion category leader,\u201d says Randolph.<\/p>\n\n\n\n<p>\u201cFor people who work in a large company, there&#8217;s a very different message. It says that your size and your dominance is not forever\u2014that you&#8217;re vulnerable and, even worse, you never know where that vulnerability is going to come from. If you&#8217;re not willing to disrupt yourself, you&#8217;re leaving it open for someone else to disrupt your business.\u201d<\/p>\n\n\n\n<p>David and Goliath is a story that has resonated across time because we need to hear it again and again. Randolph uses the Blockbuster story to drive home key messages that entrepreneurs and business leaders need to hear.<\/p>\n\n\n\n<p> The bottom line is that there\u2019s a need for short stories\u00a0<em>and<\/em>\u00a0long ones. Yes, a great origin story leaves out a lot of missing elements, but entrepreneurs should tell it anyway. Save the longer version for the book you\u2019ll write when you make it big.\u00a0 <\/p>\n\n\n\n<p><\/p>\n\n\n\n<p>Source:  <a href=\"https:\/\/www.forbes.com\/sites\/carminegallo\/2019\/12\/12\/netflixs-co-founder-reveals-one-essential-skill-entrepreneurs-must-build-to-motivate-teams\/#6b59d7016648\">https:\/\/www.forbes.com\/sites\/carminegallo\/2019\/12\/12\/netflixs-co-founder-reveals-one-essential-skill-entrepreneurs-must-build-to-motivate-teams\/#6b59d7016648<\/a> <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Carmine Gallo and Netflix Co-Founder, Marc RandolphGALLO COMMUNICATIONS Silicon Valley loves a good origin story. Here\u2019s one story that\u2019s become the stuff of legend. Reed Hastings found an old VHS rental copy of \u201cApollo 13\u201d he had forgotten to return to Blockbuster. He brought it back to the store and was charged a $40 late [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":-1,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_vp_format_video_url":"","_vp_image_focal_point":[],"footnotes":""},"categories":[35],"tags":[68,152,36,132],"class_list":["post-4898","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-information","tag-netflix","tag-news","tag-skills"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Dazzlepop | Netflix\u2019s Co-Founder Reveals One Essential Skill Entrepreneurs Must Build To Motivate Teams<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.dazzlepop.net\/site\/netflixs-co-founder-reveals-one-essential-skill-entrepreneurs-must-build-to-motivate-teams\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Dazzlepop | Netflix\u2019s Co-Founder Reveals One Essential Skill Entrepreneurs Must Build To Motivate Teams\" \/>\n<meta property=\"og:description\" content=\"Carmine Gallo and Netflix Co-Founder, Marc RandolphGALLO COMMUNICATIONS Silicon Valley loves a good origin story. 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