Bob Iger, the Chairman and CEO of Disney, serves his 17th year as CEO of one of the most respected and beloved brands around the globe. Under Iger’s leadership, Disney’s stock has multiplied four times in 10 years, and thanks to him, brands like Pixar, Marvel, and Lucas Film are a part of the Disney conglomerate.
His strategic decisions and ceaseless focus and attention to detail have made him a noteworthy business leader. Here are lessons that entrepreneurs and leaders can take away from Iger.
Honesty builds trust, and that is exactly why Steve Jobs and George Lucas made major deals with Bob Iger.
“In negotiations you have to make a decision about how much interest you're going to show,” says Iger. “I put my cards on the table and they were turned up. Why not be honest? I needed to buy Pixar.” (As stated by Forbes)
Strive for excellence
Bob Iger says that if your product is great, then it needn’t be good.
“I’m amazed at how many times people are willing to accept mediocrity. One of the things I learned from Steve Jobs is how he demanded excellence. And the results he got were obvious. The concept of excellence was embodied in the products that Apple shipped under Steve’s leadership,” he said, as stated in an article by entrepreneur Ameet Ranadive.
You have to try
Bob Iger encourages taking risks in good faith. How else could Disney be one of the most fun and innovative companies of all time? He also says that an honest risk may lead to an honest mistake, which is absolutely fine.
He encourages his people to take a step back once in a while to contemplate over what they are doing and how they plan to move ahead.
“I love ambition. Walt loved ambition. He almost took the whole company bankrupt when he launched the first theme park in the 1950s,” he said.
Build a strong brand
In today’s digitally connected world, building a brand is of paramount importance. Brands like Star Wars, Marvel, and Pixar are a source of revenue generation for Disney.
With the wide variety of choices available today, strong brands have an upper hand over the rest. It helps companies leverage themselves over time and territories.
Iger gave great priority to technology. He believed that it was mandatory for Disney to grow their business and reach more people effectively and efficiently. Disney was the first to provide its TV programmes and movies to the iPod video platform.
With their products on new platforms, their brand value was enhanced.
While speaking about Disney, he says, “Actually it is more relevant today than it has ever been, because the beauty of technology is that it enables us to access more people and more people can access the products we make. So our brand actually enters so many more people’s lives today,” as stated by Hollywood Reporter.
As he turns 66 today, we wish this exemplary leader a very happy birthday!