The Ride of a Lifetime - Robert ( Bob) Iger

Reviewer’s Note:

When we pass out of university and step into the real world, it is important to learn the rules of the corporate society quickly; rules of leadership, effective communication, finance, empathy, and social responsibility. For this, business books can be a great source of inspiration, and this book has it all.

I do not like business books, which are too philosophical. But ‘The Ride of a Lifetime’ – Robert (Bob) Iger; CEO of Walt Disney, is different. In this book, Bob Iger walks us through his 45 years of corporate journey, starting from the position of a supervisor at ABC Television to becoming the CEO of the gigantic Disney Company and later transforming it to become one of the biggest company in the world while successfully leading Disney’s acquisitions of other big companies like Pixar, Lucasfilms, Marvel and 21st Century Fox. Bob Iger narrates some important events of his corporate life chronologically without any sugarcoating, and the insights are inspirational. We also come across different characters that played an important role in Bob’s life and the valuable lessons he learned while working for/with them. This book is a must-read for everyone because it brings about a positive outlook for our work and the people around us.

Book Review/Summary:

This book is about being guided by a set of principles that help nurture the good and manage the bad. Bob takes us deeper into his life where his so-called ordinary days are challenging and dynamic. Bob talks about the character that he built while working for his former bosses and some of their attributes, which he believes helped him a lot during his days at ABC and at Disney. One of my favorites is about the principle of ‘relentless pursuit of perfection’ which is not about focusing on small details all the time, but rather it is about creating an environment where you refuse to accept mediocrity.

He talks about the importance of being decent and respectful towards the people around you, to treat them with empathy and fairness. It is important to create an environment where the employees can speak out, know that the leaders are emotionally consistent. Bob tells that treating others with respect is an undervalued currency, and the absence of it can be very costly.

The most interesting part of this book is the stories of leading the acquisitions of some big names like Pixar, Lucasfilms (Star Wars stuff), and Marvel after taking office in 2005. Each is a nail-biting story and will have you on the edge of your seat. Each chapter narrates how Bob and his team effectively and strategically handle the negotiation and bidding process while competing and demonstrating powerful leadership and problem-solving skills. It also shows how Bob is sensitive and keeps his emotions on the table while carrying out the negotiations. You have to know what you want out of any deal, but to get there; you also need to be aware of what is at stake for the other. Bob believes that in the creativity business, it is not about buying the physical or manufacturing assets of the other company, but rather it is about acquiring the people where the value truly lies.

He tells us how difficult it was to negotiate a deal with Steve Jobs for Pixar, given the cold relationship between his former boss and Steve Jobs through the years. Both, Bob and Steve, shared the common vision of taking the business forward on the tech platform, and to draw more audience they would need, a greater amount of quality content. Bob realized that merging Pixar with Disney and also bringing Steve on to the board of directors at Disney will be of immense value. He was successful in establishing a relationship with Steve and working out a deal with him. Both had immense respect for each other, such that just 30 minutes before announcing the deal in front of the press, Steve informed Bob about his pancreatic cancer and that it was important for Bob to have this information so that he could still back out from the deal. Bob, dreaded by this news yet decided to reject his offer to cancel the deal. He placed a bet, which turned out to be very successful for Disney.

Bob knew that technology for coming fast, and it was important to invest in technology and restructure the business model at the earliest. The same vision led to the acquisitions of Marvel Studios and Lucas Films and 21st Century Fox a few years later, which are all again as fascinating as the Pixar story. Disney also made a bet on online streaming devices, which was eventually successful. All of these redefined and revitalized Disney. One of the things that Bob instinctively felt is that- long shots are not usually as long as they seem. One should believe in the power and ability of the organization to make things happen.

Bob concludes the book with a philosophical recapitulation in the form of points. Some of my favorites are;

• Take responsibility when you screw up, you will be more trusted and respected from the people around you if you own up to your mistakes.

• Value ability more than experience, and put people in roles that require more of them than they know they have in them

• Ask the questions you need to ask, admit without apology what you don’t understand and to do the work to learn what you need to learn as quickly as you can.

Do check the book out and give it a read.

Happy Reading.