Notes on Ride of a Lifetime by Bob Iger

A while back, a friend of mine recommended to me the book The Ride of a Lifetime: Lessons Learned from 15 Years as CEO of the Walt Disney Company by Bob Iger. I recently finished it and really enjoyed it. It just so happened that I visited Disneyland a couple weeks before reading this, so a lot of the elements mentioned were fresh in my mind.

I really liked the leadership principles he mentioned and how he illustrated them with examples. It was also crazy to hear about his negotiations with Steve Jobs. It was also fun to read this right after reading Creativity Inc. about Pixar a few weeks ago as this presents the other side of the story.

See below some of my main takeaways and lessons learned (humility, hard work, integrity, relentless pursuit of perfection, etc.). Also, I got a kick out of the idea "micromanaging is underrated." I definitely recommend this book to any entrepreneur/leader/founder.

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​Prologue 
Principles of leadership 
Optimism
Courage
Focus
Decisiveness
Curiosity
Fairness
Thoughtfulness
Authenticity
Relentless pursuit of perfection 
Integrity

Part 1 learning

1 starting at the bottom
Waking up early
Father was into reading and inspired him
Discussing world events from news
Vigilance on time management and using time productively
Started working in 8th grade to clean gum off seats
Wakes at 4:15 daily
Started at bottom of ABC production services. Moved later to Sports. 
Be willing to scrap everything last minute to make it better. Refuse to accept mediocrity. 
Jiro dreams of sushi movie
Relentless pursuit of perfection
Refuse to accept no for an answer
If underwater, get a longer snorkel
No patience for excuses
Take responsibility when you screw up
Be decent to people

2 betting on talent
Got invited to new opportunities outside his comfort zone and leapt in to try
Good work ethic 

3 know what you don’t know and trust in what you do
Ask questions when you don’t know something
Be comfortable with failure if you want innovation

4 enter Disney
Managing your own time and respecting others’ time is critical

5 second in line
Ask someone to step up to the challenge of an idea you had

6 good things can happen
Micromanaging is overrated
Greatness is a collection of small things
Pessimism and fear aren’t good for leaders

9 it’s about the future
Convey priorities clearly and repeatedly and only 3 at most

Part 2 leading

8 power of respect
Making peace by engaging people with respect
Repairing relationship with steve and Pixar
Strategic Planning department issues

9 Disney Pixar and new path
Be bold with Disney purchase idea
In the end things still come down to instinct
Creative culture at Pixar
Day visiting Pixar to understand how cool it was
Social contract related to acquisition and culture after

10 marvel and massive risks that make sense
Patience and determination to reach other CEO
Meeting in person to present acquisition idea
Dinner with wives
Asked Steve Jobs to call ceo of marvel which made a difference 
Firing or changing someone’s responsibilities: in person and you take full responsibility 
Be honest when someone’s not working out

11 Star Wars
Very careful acquisition conversations 
Don’t project your stress on your team
Put quality before everything else which can mean pushing back release dates

12 if you don’t innovate, you die
Don’t lay out problems without presenting solutions
Needed to innovate on compensation incentive
Stock grants based on contribution to new model
Wanted to fight innovator’s dilemma

13 no price on integrity
Fox acquisition 
Tough personnel issues

14 core values
Retirement
Embrace technology and disruption

Appendix: Lessons to lead by
To tell great stories, need great talent
Innovate or die
Relentless pursuit of perfection. Refuse to accept mediocrity. 
Take responsibility when you screw up
Be decent to people
Excellence and fairness don’t have to be mutually exclusive. Strive for perfection and care about the people. 
True integrity (knowing who you are) is a secret leadership weapon 
Trust your own instincts and lead with respect
Value ability more than experience 
Ask the questions you need to ask, admit what you don’t know, learn what you need to
Managing creativity is art not science. When giving notes, be mindful of how much the person has poured of themselves into the project. 
Don’t start negatively and don’t start small
Be comfortable with failure but not due to lack of effort
Don’t be in the business of playing it safe. Create possibilities for greatness. 
Don’t let ambition get ahead of opportunity. Do the job you have well. 
Don’t become a trombone oil maker. Don’t invest in small projects. 
When the people at the top have a dysfunctional relationship, the company can’t work well
As the leader, if you don’t do the work, people will know and you will lose respect fast
You aren’t the only person who can do this job. Not indispensable. Good leadership is helping others be prepared to step into your shoes and being honest with them when they aren’t ready for the next step up. 
Company’s reputation is total of the actions of its people and its products
Micromanaging is underrated. Great is a collection of small details. Downside to it is people will be stultified or think you don’t trust them. 
Too often we lead from place of fear not courage. 
Don’t communicate pessimism to the people around you
People shy away from big things because they build case against them before even trying. Long shots not that long with thought and preparation.
Have to convey priorities clearly and repeatedly
Tech advancements will make old business models obsolete
It should be about the future not the past
Treating others with respect is rare currency when negotiating
You have to do your homework and be prepared. Build the models before an acquisition. There’s never 100% certainty. 
If something doesn’t feel right to you, it won’t be right for you
As a leader you’re the embodiment of the company. Your behavior is how they judge the company. 
Be direct when delivering bad news to someone about why a position isn’t working and why you think it won’t change. 
When hiring, surround yourself with people who are good and good at what they do. 
In negotiation, be clear about where you stand from the beginning. Don’t go back on what said before. 
Don’t pile on to stress of team. Can say you feel their stress and what they’re going through but don’t add to it. 
Most deals are personal
If you’re in the business of making something, be in the business of making something great
It’s hard to disrupt your own business and tell people to work on a new thing that won’t be profitable for a while 
It’s not good to have power for too long
Approach work and life with genuine humility
Hold on your awareness of yourself