There is endless
expertise that American billionaires enjoy and are
happy to share with us about public education. Apparently making a fortune in
the business world makes them expert on how to educate children.
Netflix (NFLX) has become a success
story thanks to Reed Hastings its co-founder and CEO. Up and down in the journey of Netflix has made Reed
Hasting a great leadership icon. He started a small DVD
rental by mail company which was his second start up.it blossomed into world’s
leading online streaming subscription service for television programs and
movies.
Reed Hasting was a board member of Microsoft (MSFT) from 2007-2012 and also
served on the boards of Facebook.
Hasting has enjoyed his illustrious career.
Let’s take a
look at Reed Hasting secrets to success that provided lessons to ambitious entrepreneur everywhere.
Target a specific niche: when there is a headache, you want to be like aspirin
not vitamins. Aspirin solves particular problem whereas vitamin are general to
have. Netflix idea was certainly aspirin.
Be flexible: The Company was named Netflix (NFLX), not DVDs by mail because
they knew that soon they will deliver movies directly over the internet.DVD
will be here for a long time but they are building for the day when DVDs are
not there.
Never underestimate the competition: Netflix mistakenly concluded that
Blockbuster (BBI, Fortune 500)
probably wasn't going to launch a competitive effort when they hadn't by 2003.
Then, in 2004, they did. We thought, well, they won't put much money behind it.
Over the past four years they've invested more than $500 million against us.
No shortcut: Sometimes great wealth is made in short time but it needs a lot of
luck in those situations. Once should just think of building a organization as
a lot of work. Weather it turns or not into a great wealth.
Being flexible is most important, it gives a platform to learn!
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