That Will Never Work: The Birth of Netflix and the Amazing Life of an Idea

Marc Randolph

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In the tradition of Phil Knight's Shoe Dog comes the incredible untold story of how Netflix went from concept to company - all revealed by co-founder and first CEO Marc Randolph.

Once upon a time, brick-and-mortar video stores were king. Late fees were ubiquitous, video-streaming unheard of, and widespread DVD adoption seemed about as imminent as flying cars. These were the widely accepted laws of the land in 1997 when Marc Randolph had an idea.

It was a simple thought - leveraging the internet to rent movies - and was just one of many more proposals, like personalized baseball bats and a shampoo delivery service, that Randolph would pitch to his business partner, Reed Hastings, on their commute to work each morning.

But Hastings was intrigued, and the pair - with Hastings as the primary investor and Randolph as the CEO - founded a company.

Now with over 150 million subscribers, Netflix's triumph feels inevitable but the twenty-first century's most disruptive start-up began with few believers and calamity at every turn. From having to pitch his own mother on being an early investor, to the motel conference room that served as a first office, to server crashes on launch day, to the now-infamous meeting when they pitched Blockbuster to acquire them, Marc Randolph's transformational journey exemplifies how anyone with grit, gut instincts and determination can change the world - even with an idea that many think will never work.

What emerges, however, isn't just the inside story of one of the world's most iconic companies. Full of counter-intuitive concepts and written in binge-worthy prose, it answers some of our most fundamental questions about taking that leap of faith in business or in life: How do you begin? How do you weather disappointment and failure? How do you deal with success? What even is success?

From idea generation to team building to knowing when it's time to let go, That Will Never Work is not only the ultimate follow-your-dreams parable but also one of the most dramatic and insightful entrepreneurial stories of our time.

What will you learn from this book

  1. Innovation Requires Risk-Taking: The creation of Netflix involved significant risks, from challenging the traditional video rental model to investing in untested technology. It highlights the importance of taking bold risks in the pursuit of innovation.

  2. Adaptability is Crucial: The success of Netflix can be attributed to its ability to adapt and evolve. The company initially started as a DVD rental-by-mail service and later transitioned into a streaming platform, showcasing the importance of being adaptable to market changes.

  3. Focus on Customer Satisfaction: Netflix prioritized customer satisfaction by providing a convenient and personalized service. The book emphasizes the importance of understanding and meeting customer needs to build a successful business.

  4. Constantly Iterate and Improve: Netflix embraced a culture of constant iteration and improvement. The company continuously tested new ideas, learned from failures, and refined its approach based on customer feedback, emphasizing the iterative nature of successful entrepreneurship.

  5. Team Collaboration Matters: The collaborative efforts of the founding team, including Reed Hastings and Marc Randolph, played a crucial role in Netflix's success. The book underscores the importance of a strong and complementary team in building and growing a business.

  6. Strategic Vision is Essential: Netflix's founders had a strategic vision of the future of entertainment, foreseeing the shift from physical media to digital streaming. The book emphasizes the importance of having a clear and forward-thinking vision in business.

  7. Persistence is Key: The journey of Netflix involved numerous challenges and setbacks. The founders' persistence and determination in the face of adversity are highlighted as key factors in the eventual success of the company.

  8. Embrace Change and Disruption: Netflix disrupted the traditional video rental industry, challenging existing norms and embracing technological change. The book encourages entrepreneurs to be open to disruption and to see change as an opportunity for innovation.

  9. Data-Driven Decision Making: Netflix leveraged data and analytics to inform decision-making processes. The book underscores the significance of using data to understand customer behavior, refine strategies, and make informed business decisions.

  10. Create a Culture of Innovation: The book explores the importance of fostering a culture of innovation within an organization. Netflix's success is attributed in part to its culture of experimentation, where employees were encouraged to take risks and explore new ideas.

These takeaways provide a glimpse into the entrepreneurial journey and key principles that contributed to Netflix's transformation into a global entertainment giant.

Language English
ISBN-10 1913068064
ISBN-13 9781913068073
No of pages 312
Font Size Medium
Book Publisher Endeavour
Published Date 17 Sep 2019

About Author

Author : Marc Randolph

NA

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