SPECIAL REPLAY: Marc Randolph—Turn Everyday Problems Into Extraordinary Profits

Good Money with Derrick Kinney

Derrick Kinney

Investing, Entrepreneurship, Business

5 • 1.5K Ratings

🗓️ 18 December 2023

⏱️ 47 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

You would think the most brilliant of entrepreneurs would rarely face failure. After all, didn’t they just come up with one genius idea and money started flooding in? Not the case for Netflix co-founder, Marc Randolph. The truth? Marc was told, “That will never work,” more times than he could count. In this vulnerable conversation, Marc shares the challenges and harsh rejection he faced during the early days of Netflix and peels back the curtain of the often-glamorized world of entrepreneurship. And he says the problems you see every day in your business or your job could be your golden ticket to big profits. Subscribe and listen now to this special replay episode with Marc on Apple Podcasts and Spotify!

You Will Learn That:

You build skills by doing them
Pain is the parent to ideas
Entrepreneurship is a grind
There is no easy way
There’s always a reason not to do something
Why you should think less and do more
If you wait, you’re too late
Nobody knows anything

Quotes:

“The way you learn to make better decisions is by making decisions.” – Marc Randolph
“Start small, build momentum. And that allows you to bet on yourself and place bigger bets because you can be confident in your own abilities.” – Derrick Kinney
“Once you’ve learned to really articulate the problem and see the problem clearly, almost without even thinking about it, ideas begin popping into your mind.” – Marc Randolph
“And it was this realization at that moment that there was no easy way. There was no trick. There was no magic bullet. There wasn’t a way around. And, as my Dad used to say, ‘Sometimes the only way out is through.’” – Marc Randolph
“If you don’t start, you’re never going to get anywhere. There’s always a reason not to do something.” – Marc Randolph
“So, the lesson there is, you can’t over commit. Whatever you think is an overcommitment is probably just barely enough to land that trick.” – Marc Randolph
“The uncertainty is everything. If you wait until you can see around the corner enough to be confident that your idea is going to work, I guarantee you’re too late.” – Marc Randolph
“The most important skill of a good entrepreneur is, are they creative and clever enough to figure out ways to try their ideas that are quick, simple, and cheap? Because then they can try hundreds of ideas.” – Marc Randolph

Free Valuable Report for our Listeners: “3 Beliefs About Money Your Kids Should Learn that No One is Teaching Them”

Recommended Resources:

• That Will Never Work: The Birth of Netflix and the Amazing Life of an Idea by Marc Randolph (https://amzn.to/38EJw9U)

Get access to Simple Teen Success HERE

Order your copy of the USA Today and Wall Street Journal bestselling book Good Money Revolution here: https://amzn.to/34hSonE

Ready to take your business to the next level? Schedule a call with Derrick today here: www.GoodMoneyFramework.com/consulting

For daily tips to help you make and save money, follow us on Instagram @derricktkinney

Transcript

Click on a timestamp to play from that location

0:00.0	I want to take a moment to wish you and your family a happy new year.
0:04.5	After what you've been through, it's nice to have a fresh start.
0:08.0	You work hard for your money so you can provide a good life for those you care about.
0:13.0	I believe you deserve to have the tools to make more money and use it for good
0:18.0	to help your family and make the world a better place.
0:22.0	Our goal is to become your favorite investing
0:24.5	podcast. We are dedicated to helping you become more successful each week as you
0:29.8	invest your valuable time with us. We're glad to have you part of the good money community.
0:35.0	Thank you for listening. Now here's the podcast. Welcome to the Good Money, Good Hands Good Work Podcast, where we believe money is not bad and good people should have more of it. Good money in the
0:55.1	hands of good people gets good work done. I'm your host Derek Kenny. On our
1:00.5	podcast we give you tools so you can make more money and do more good.
1:05.6	Today's guest, Mark Randolph, is best known as the co-founder and first CEO of Netflix. Mark has a brilliant business mind and shares his money-making insights with us.
1:18.0	Since leaving Netflix, he has founded or co-founded
1:22.0	six other successful startups and mentored hundreds of entrepreneurs.
1:27.0	In our conversation, Mark offers some surprising advice on how to develop new business skills. He says to skip reading books and don't take
1:36.1	online classes. He also shares that as an entrepreneur, if you wait for the path to success
1:42.4	to be clear, you've already waited too long.
1:45.0	And he tells us how the problems you see every day in your business or your job
1:50.0	could be the ticket to big profits for you. I think you'll join my
1:55.0	conversation with Mark Randolph. Mark, welcome to the show. Well, thanks, Derek.
2:00.1	It is great to be with you. Well, I am excited about our conversation together, so let's get right to it.
2:06.0	In a recent CNBC interview, you gave some surprising advice to people looking to develop new business skills.
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Derrick Kinney, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Derrick Kinney and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.