A captivating recount of how Disney transformed over the past 20+ years. Bob reviews many acquisitions, and some near-misses (Disney almost bought Twitter before Disney +). A good read for anyone curious how big companies grow larger. Lots of lessons learned.
Highlights:
- “Avoid getting into the business of manufacturing trombone oil. You may become the greatest trombone-oil manufacturer in the world, but in the end, the world only consumes a few quarts of trombone oil a year!”
- “It’s a hard thing to do, especially in the moment, but those instances in which you find yourself hoping that something will work without being able to convincingly explain to yourself how it will work - that’s when a little bell should go off, and you should walk yourself through some clarifying questions. What’s the problem I need to solve? Does this solution make sense? If I’m feeling some doubt, why? Am I doing this for sound reasons or am I motivated by something personal?”
- “A company’s culture is shaped by a lot of things, but this is one of the most important - you have to convey your priorities clearly and repeatedly. In my experience, it’s what separates great managers from the rest.”
- “You can do a lot for the morale of the people around you (and therefore the people around them) just by taking the guesswork out of their day-to-day life… This is where we want to be. This is how we’re going to get there.”
- “My job was to set our company on a new path, and the first step was to defuse this unnecessary struggle. The easiest and most productive way to do that was to recognize that what Roy needed, ultimately, was to feel respected. That was precious to him, and it cost me and the company so little.”
- “This is you making a decision about them - not them as a person but the way they have performed in their job - and they need and deserve to know that it’s coming from you. You can’t make small talk once you bring someone in for that conversation. I normally say something along the lines of: ‘I’ve asked you to come in here for a difficult reason.’ And then I try to be as direct about the issue as possible, explaining clearly and concisely what wasn’t working and why I didn’t think it was going to change. I emphasize that it was a tough decision to make, and that I understand that it’s much harder on them.”
- “If you respect the person, then you owe them a clear explanation for the decision you’re making. There’s no way for the conversation not to be painful, but at least it can be honest.”
- “the hardest but also the most necessary lesson to keep in mind, that wherever you are along the path, you’re the same person you’ve always been.”
- “Pessimism leads to paranoia, which leads to defensiveness, which leads to risk aversion.”
- “If something doesn’t feel right to you, it won’t be right for you.”
4/5