I have just finished reading Bob Iger’s autobiography – ‘A Ride of a Lifetime’ about his time at The Walt Disney Company and the lessons he learnt on creative leadership.
Just to put the company and his role in it into perspective, the Walt Disney Company is an American diversified multinational mass media and entertainment conglomerate. Started in 1923 by Walt and Roy Disney, it took on a more corporate feel under Michael Eisner, but rose significantly under the leadership of Robert (Bob) Iger. Bob took control in 2005 until the present day, growing revenues from $32 to $70 billion (a higher GDP than several southern African countries put together), operating income from $5 to $15 billion and the Walt Disney Company currently employs 223 000 people. During Iger’s tenure, Disney merged with the ABC broadcast network and acquired Pixar, Marvel, Lucasfilm, 20th Century Fox, as well as developing ESPN, National Geographic and its 14 Disney Parks.
Evidently, some of the lessons are pure Disney, and Iger’s business approaches include:
- Technological advancements will make older business models obsolete , but to disrupt a business model that is working for the longer term requires courage – in short, innovate or die
- If you are in the business of making, be in the business of making something great
- Managing creativity is an art, not a science – appreciate how much of a person has put himself into a project, business or film, and always ensure harmony at the top of the hierarchy, especially with creative personalities. At the end of the day, the value in a business is in the people
- Don’t start negatively and don’t start small – his multi billion dollar deals are testament to this. Iger used the size of Disney to leverage his deals
- Most deals are personal – never lose the personal touch and the importance that a company being acquired puts on the trust they place in a key person (talking about Steve Jobs letting go of Pixar, George Lucas giving up the Star Wars series with Lucasfilms or Rupert Murdoch parting company with 20th Century Fox)
- Don’t invest in small projects that sap your and the company resources – keep focused on the main prize
These are all enchanting and impressive. I was moved more by the number of classic generic leadership truths in his autobiographical reflections:
On company leadership, Iger conducted a relentless pursuit of perfection as a mindset, and in the same vein, refused to accept mediocrity in his business. This said, he believed that excellence and fairness don’t have to be mutually exclusive – expect the best, but everyone can still be a winner. In his ever changing world, he valued ability and hard work above experience, as this was a better presage for the future.
On a more personal note, you need to grant permission to fail, so your value adders can be bold and push the boundaries – if you fail and learn from it, that is not a failure. And for those climbing the ladder, don’t let ambition get in the way of opportunity – in the early stages of your career, take advantage of every opportunity given to you and don’t try and leapfrog too soon.
On his personal learning curve, Bob’s advice was:
- Admit without apology when you don’t understand anything – you will come across as more human and become more effective in the process. Always take responsibility for your errors
- At all times and in all circumstances, be decent to people – there is never an excuse to behave badly and not give every person the dignity they deserve
- Gain respect by doing the work and showing it – effort is recognised by everyone in the organisation and respect is generated from this hard working ethic
- Sweat the details but don’t micromanage – delegate but don’t undermine the process. Give people confidence to be optimistic – build them up
- You cannot communicate pessimism to people around you – pessimism leads to paranoia, which gives rise to defensiveness, which in turn, culminates in risk aversion. Projecting your anxiety onto the team is counterproductive. On the other hand, optimism emerges from faith in yourself and the people who work for you – it should be about the future and not the past
- With enough thoughtfulness and commitment, the boldest ideas can be executed – it comes down to planning and leading from a place of courage and not fear – inspire the team
- Convey your priorities clearly and repeatedly – communication is primordial. Take the guesswork out of day to day life – where do you want to be and how are you going to get there. Be clear about what you stand for from the beginning
- If something does not feel right to you, it won’t be right for you – gut instinct and feelings about another person are always important. Be honest and upfront when you have to deliver difficult news
Bob Iger has always been strong on values – in this case, aligning individual and company values. His message was clear:
- Demand integrity from your people – a company’s reputation is the sums of all the actions of its people
- Your values – your comportment and sense of integrity, decency and honesty are the embodiment of the company and stand for the values of the company
- True integrity is the secret leadership weapon – this must be at the heart of all your actions
- When recruiting, surround yourself with good people in addition to being good at what they do
- Approach your life and work with a sense of genuine humility – hold onto the awareness of yourself – never lose your way and get above yourself
On this last note, whilst he waited several years for Michael Eisner to share the leadership of Disney after the turn of the century, Iger did not want to repeat the same error, and so on succession planning, he wanted to help others get prepared to step into his shoes. The most important job the head of an organisation has is to find your replacement and nurture them. It is never good to have power for too long.
Robert Iger has had an impressive run as head of The Walt Disney Company. He has inspired many – all of his generic prescriptions on creative leadership are mirrored in our course on Ethical and Effective Leadership covered in the courses we run, found at www.JdlFmasterclassafrica.com
Recent Comments