Marc Randolph (Netflix)
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On this episode of Marketing News Canada, Darian Kovacs interviews Marc Randolph, the co-founder of Netflix.
Although best known as the co-founder and first CEO of Netflix, Marc’s career as an entrepreneur spans more than 40 years. He has co-founded more than half a dozen successful start-ups, mentored rising entrepreneurs, and invested in numerous successful tech companies.
He is a frequent speaker at industry events and works extensively with young entrepreneur programs. He sits on the board of the environmental advocacy group, 1% for the planet, and the National Outdoor Leadership School. Not to mention, Marc is also a bestselling author.
When asked if a great business person is made by nature or nurture, Marc stated that it is both. He believes that by nature, some people are more curious than others. He said that the nurture side of it is the people around you. He stated that “my parents were always the type of people that told me if I wanted something I would have to work hard to get it.”
From a young age, Marc loved taking risks, whether it be hiking adventures in the mountains or investing in start-ups, he loved it. He said if you ever want to make it big, you have to be willing to take risks. The example he gave is if you want to learn Spanish, consider becoming a translator, you may sound like a four-year-old to them, but there is no quicker way to learn.
When it comes to pitching ideas, be prepared to think of dozens before you think of a good one, says Marc. Some ideas he had before Netflix were, custom hair care, custom dog food, then eventually came to the idea of renting movies by mail. This idea is now known as “Netflix” today and it has become the world's most popular streaming service.
Netflix was Marc’s sixth start-up, however his most successful to date. He discusses his experience with the company in his book, “That Will Never Work: The Birth of Netflix and the Amazing Life of an Idea.”
Something very important to Marc is the environment. He prefers to invest in companies that have good morals and practise ethical business. He loves the idea of businesses giving back one percent of their revenue to an environmental cause. An example of a brand that does this is Patagonia.
Marc’s love for marketing and passion for seeing people succeed is what makes him an excellent speaker. His skills for speaking at public events have transferred seamlessly to podcasting.
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Written by Zaniah Friesen