How many times have you heard "that will never work?!"
That's the name of the highly-anticipated new podcast hosted by none other than Marc Randolph. Although best known as the co-founder and first CEO of Netflix, Randolph’s entrepreneurial career spans more than four decades, and he's a sought after speaker, consultant & author.
His new show centers around helping entrepreneurs turn their nascent businesses into sustainable companies. His unique combination of analytical skills, tough love, and a healthy dose of humor will be utilized unearth the blind spots that may be holding guests back.
Tune in for this energetic conversation at TalkRadio.nyc or watch the Facebook Livestream by clicking here.
Jeremiah introduces his message of the week, “You miss one hundred percent of the shots you do not take”, then also introduces his quest for this episode, Marc Randolph, a successful entrepreneur and well known as the founder and first CEO of Netflix. The two discuss Marc’s new podcast That Will Never Work, and Jeremiah remarks used that phrase to describe Netflix when Marc was first introducing the idea of it. Marc continues to explain how throughout the process of creating Netflix, he heard that phrase many times, and Jeremiah remarks how these criticisms that people receive towards their entrepreneurial ideas often help people become better at what they do. Marc explains that he believes that the best response from hearing “that will never work” from people is to realize no one knows the future, and one can only know if an idea is a good idea or a bad idea is to try the idea out. He also explains how he always shares his ideas because he is always willing to hear criticisms so he can continue to improve himself and his ideas. The two discuss business fatalities, and how instead of it being a homicide with outside forces being its downfall, it is a suicide with inside forces being the downfall. Marc brings up imposter syndrome, and how it often affects people who are successful in their business, and how he often felt imposter syndrome while others looked to him for advice on running a business. Jeremiah continues by discussing how he went to a panel that discusses imposter syndrome, and how many people who are overachievers feel imposter syndrome, because they don’t believe they deserve the success they received.
Jeremiah and Marc discuss why Marc decided to start his podcast, That Will Never Work, where he is working with new entrepreneurs, essentially making the podcast a public coaching session. Marc had noticed throughout his time prior to the podcast where he was doing the same coaching, that the same questions kept arising across all of the different sessions. Because of these common questions and areas of entrepreneurship being brought up in these sessions, he was motivated to create this podcast to make this advice available more broadly than in one on one sessions. Marc explains how entrepreneurship is a very lonely profession, and how unless one has a personal mentor, there are not a lot of resources to go to for advice or answers for any issues that come about, and Marc wants his podcast to become a resource for entrepreneurs. The two discuss several episodes from Marc’s podcast, and the questions that the entrepreneurs brought up in the episodes. Marc brings up many of the issues entrepreneurs face are not necessarily business related, as a recent guest on his podcast was worried about balancing work and home life, as he was starting a new business but he is also married with three young children. Jeremiah and Marc discuss the Club House platform, and if Marc will be making use of the resource in the future.
Jeremiah brings up the topic of Club House back again, and how it is different from other platforms for networking as it is an audio only platform, and asks if Marc is planning to go through with video and audio, or with audio only. Marc discusses how his podcast is both a combination of video and audio components, though as he believes the video component to be necessary in marketing the podcast, he isn’t quite sure on how much a video portion adds to the podcast, as it is just a video of two people talking. The two discuss what they would say to their young entrepreneurial self, and Jeremiah brings up that he would tell his younger self that you are not alone, and you don’t have to do it alone. Jeremiah continues to explain how it is nearly impossible to create and run a business alone, and that reaching out for help is not a bad thing and is in fact helpful in keeping your business successful. Marc agrees with this sentiment, and how the seven by twenty four responsibility for a business is not healthy, and that him being a mentor for new entrepreneurs helps him to remind himself of this sentiment. Marc continues to explain how being a mentor helps for the entrepreneur he is mentoring to have an impartial look at their business, who is not emotionally connected to the business, and can give steady advice about the problems that arise. The two discuss starting and running a business under pressure, and how in those moments when running a business is most difficult, is often the point where you learn the most from your actions.
Marc retells an anecdote that taught him that his mentorship that he partakes in is not him simply wanting to get his “start up” fix. He retells how he went to a retreat where there were mostly entrepreneurial women, where he spoke on entrepreneurial ideas and what to do with them. While at the retreat he realized that many people have these great ideas for products or businesses, but they are just stuck in their heads. After making this realization he had another realization that it is his purpose to help these people get these ideas out into the world, and become successful with these ideas. Marc continues to retell how he works with college programs to recruit students to become entrepreneurs, and how his brother who is an investment banker in New York goes to the same school to recruit students to become bankers, and how they often have a competition in recruiting students. Jeremiah brings up how the core of entrepreneurship is solving problems, and how being a problem solver is in the DNA of an entrepreneur, and Marc continues explaining how there are particular problem solving skills that can be learned through mentorship. Marc also explains how the advice that he gives on business start ups can be used in everyday life, not only in creating a business. The advice can be taken by all people of all ages, and even if they are not an entrepreneur, and they can take the advice to get a new outlook on their current career and job.
