Reed Hastings has been the CEO of Netflix, Inc. since 1997 and was instrumental in its early success as one of America’s leading DVD-by-mail companies. Under his leadership, Netflix became a dominant player in the video streaming industry with over 125 million strong American subscribers base. He also serves on the boards of directors for Facebook and Microsoft, among other high profile positions he holds or has held throughout his career.
In addition to revolutionizing entertainment distribution by making it easy to watch what you want anytime you want on any device you own, Reed Hastings has also been at the forefront of many environmental initiatives such as reducing paper usage and raising awareness about climate change through documentary series like “Chasing Ice.”
In this blog post, we look at some famous quotes from Reed Hastings and how we can implement them in different aspects of our lives.
1. On failure and learning from mistakes
“Failure is an option here. If things are not failing, you are not innovating enough.” – Reed Hastings.
The only way we learn and grow as individuals or companies is by making mistakes. As soon as we stop failing, we stop trying because the consequences of failure don’t feel as bad as success. However, we can’t let our fear of failure prevent us from engaging in new and challenging activities. If we do, we will never push ourselves to become better than what we already are.
2. On making good decisions and not following the lead of others
“The key is to realize that once you’ve decided as CEO that you can’t be wrong. If an acquisition doesn’t work out, the stock price will go down, and that’s your fault. You can never blame anybody else if you decided to buy something.” – Reed Hastings.
In life, we tend to guess ourselves second a lot because we’re afraid of making a mistake or being judged for doing something outside of our comfort zone. However, it’s important to remember that no matter what you do, somebody will find fault in it regardless. The best way to deal with this is by reminding yourself that if you decide, you can’t be wrong regardless of the consequences because they are part of the learning process.
3. On committing to the right thing
“I do feel a responsibility to be involved, and I get impatient if I’m not doing enough. So it’s about finding the right balance.” – Reed Hastings.
All work and no play make us dull people. It also makes us unproductive. This is why we need to find the good in what we do and commit to it wholeheartedly because anything less than that is just half-assing. Only when we commit fully to our work will we produce something meaningful and still have enough energy left to take care of the other important aspects of life like family, health, relationships, etc.
4. On making good decisions now that lead to success later
“I agree that you should not do things just because other people are doing them. I think it’s important to be contrarian when the time is right.” – Reed Hastings.
We learn by making mistakes. When we observe what others are doing and choose to do something different, there is no guarantee that our decisions will pay off immediately. However, if we trust in our abilities and continue to work hard, eventually, those decisions will pay off handsomely. This is why it’s important for us not just to follow the herd but also to weigh all our options before making a decision that can significantly impact the direction of our lives.
5. On staying realistic about who you are and what you can achieve
“I think the challenge is to stay close enough to things that matter to be in touch with reality, but not so far into them that you become a slave to the details. And I think we have been able to manage that balance.” – Reed Hastings.
On the one hand, it’s great being passionate about something because that’s what motivates us to do our best. However, on the other hand, if we’re too passionate about something, it can cause us to lose sight of what’s real and eventually lead us down a path that isn’t meant for us. This is why we need to find the right balance between staying passionate and being realistic at the same time.
6. On commitment to your company
“If you want people to be engaged in what they are doing, you need to care about them as individuals.” – Reed Hastings.
You can’t expect somebody to go the extra mile for you if you constantly take advantage of their good nature or aren’t sincere about your feelings towards them. On the other hand, if you truly believe in the vision, you need to take care of the people who make that vision possible because there wouldn’t be anything to stand behind without them. Furthermore, if you’re not committed to your company, it will be easy for others to see through your façade and eventually leave you all alone with nobody by your side.
7. On inspiration and innovation
“It is important to be open to new ideas, but our core strategy has not changed in about 20 years.” – Reed Hastings.
If you’re the kind of person who gets easily bored with what you do or are always looking for something new just because it’s trending at that moment, you’ll never be able to achieve anything meaningful. This is why you need to find inspiration in the familiar and innovate with what you know because it’s through this process that greatness is achieved.
8. On the desire to help others
“It is really about being involved in things that are bigger than oneself.” – Reed Hastings.
If all you care about is your well-being, it will be impossible for you to find happiness because happiness comes from loving what you do and being able to help others at the same time. This is why we need to think of ourselves and consider how our work can benefit other less fortunate people than us.
9. On patience and having the time to think through every decision
“But I’m just an ordinary person who is trying hard.” – Reed Hastings.
One of the most important skills that successful people at what they do have in common is their ability to make decisions without rushing things or letting their emotions get in the way. However, this is also why they can take their time when it comes to making any decision because when they make a mistake, there’s no one else to blame, whereas if you rush things or blame your failure on others, it will be impossible for you to succeed. We may never know what the future holds in store for us, but we can always work towards creating a positive presence for ourselves.
10. On gratitude and being thankful
“I just treat other people well.” – Reed Hastings.
It doesn’t matter how successful we become because if we aren’t grateful towards the people around us, it will be impossible to find happiness in our lives. This is why we need to show appreciation towards people who do something good for us and never take advantage of their kindness because that will only lead to resentment in the future. Furthermore, we need to be thankful and express our gratitude because if we don’t, we’ll never know if people truly understand how we feel about them.
Thanks so much for stopping by, have a fantastic day!