A Hollywood Executive On Negotiation, Talent, and Risk

HBR IdeaCast

Harvard Business Review

Leadership, Entrepreneurship, Communication, Marketing, Business, Business/management, Management, Business/marketing, Business/entrepreneurship, Innovation, Hbr, Strategy, Economics, Finance, Teams, Harvard

4.4 • 1.9K Ratings

🗓️ 25 September 2018

⏱️ 34 minutes

🔗️ Recording | iTunes | RSS

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Summary

Mike Ovitz, a cofounder of Creative Artists Agency and former president of The Walt Disney Company, says there are many parallels between the movie and music industry of the 1970s and 1980s and Silicon Valley today. When it comes to managing creatives, he says you have to have patience and believe in the work. But to get that work made, you have to have shrewd negotiating skills. Ovitz says he now regrets some of the ways he approached business in his earlier years, and advises young entrepreneurs about what he's learned along the way. He's the author of the new memoir "Who Is Michael Ovitz?" Editor's note: This post was updated September 26, 2018 to correct the title of Ovitz's book.

Transcript

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0:00.0	Looking for a good book? Pick up your next business read during HBR Cyber Monday sale.
0:06.0	Head to store.HBR.org and use promo code cyber23 to save big on HBR books, tools, curated collections and more. That's store.
0:16.6	HBR.P. Welcome to the HBR Ideacast from Harvard Business Review.
0:37.0	I'm Sarah Greenker, Michael. The movie, TV and music business might feel a world apart from the office you work in,
0:50.8	but there are lessons to be learned for anyone about how to manage creativity and
0:55.0	talent about how to negotiate and about how to get your product out there and build an
0:59.2	audience. Today's guest played a major part in everything from Jurassic Park.
1:04.0	After a careful consideration, I decided not to endorse your park.
1:11.0	So have I.
1:12.0	To the TV show Park. So have I. E.
1:14.0	To the TV show ER.
1:16.0	One year old found one responsive and crib.
1:19.0	We didn't get an IV.
1:20.0	What'd you find on arrival?
1:21.0	No spontaneous address.
1:22.0	She signed on a rival? No spontaneous arrest.
1:22.8	She signed on a faint hold of 200.
1:24.8	We scooped and ran.
1:25.8	What happened?
1:26.4	To Prince's Purple Rain movie.
1:29.2	Purple Rain. Purple Rain.
1:36.0	Mike Ovets co-founded Creative Artist Agency in 1975,
	...

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