Jon Michail's Personal Branding Masterclass

Innovate or Die: what leaders can learn from brand Netflix

March 31, 2022 Jon Michail Season 1 Episode 30
Jon Michail's Personal Branding Masterclass
Innovate or Die: what leaders can learn from brand Netflix
Show Notes Transcript

If you think Netflix is just another brand that provides entertainment, you are terribly wrong. Join Jon and discover why Netflix is one of the most successful brands in the world, and what it can teach you.

Do you want Jon's help to elevate your personal brand? Get in touch here: https://www.imagegroup.com.au/contact-us/

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Let's connect:

Website: www.imagegroup.com.au/
Email: enquiries@imagegroup.com.au
LinkedIn: www.linkedin.com/in/jonmichail-imageconsultant-personalbrandingcoach/
Facebook: www.facebook.com/imagegroupinternational
Twitter: @jon_michail
Instagram: @imagegroupinternational
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Podcast Editor and Producer: Ana Carolina Alves 

Additional Voice: Charles The Voice 

Music: Have a Smoke by Crowander (CC BY 4.0)

https://freemusicarchive.org/music/crowander/night-walk-urbanlo-fihip-hop/have-a-smoke

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0:01
Welcome to Jon Michail’s Personal Branding Masterclass. Jon is the founder and CEO of Image Group International and an award-winning image consulting and personal branding pioneer established in 1989. This podcast will bring you old-school wisdom, inspiring ideas, strategies, and hacks for the new tech world. Here you will learn everything about personal branding: the system, the techniques, and the right mindset to have a successful personal brand, image, and reputation.

3:28
So innovation is the key here. And how do we do that, of course, technology has proven that if we use technology effectively and for good, it can certainly make a big difference in our lives. And of course, for all the people we attempt to serve as entrepreneurs, this is essential. Another interesting fact about Netflix, if you're not aware, is this. Team members are not forced to a daily or weekly schedule. It is designed as a project-based working schedule. That means the members of the team, along with the project manager agreed to a certain deadline for a project to be completed. That's an interesting model, because that's definitely very entrepreneurial, and goes against, of course, a lot of you know, predated models that really at times and not, you know, are not good for the team and certainly not good for the management and not good for the overall company. So you need that flexibility. And this is what entrepreneurship is all about with that flexibility. You've just become a bureaucracy. So this is the second lesson that I want to go into. And that is around time management and control. So what we're going to be sharing right now about time management is this. Everyone talks about time management and I think I might have noted this in my previous podcast. Time management really is all about self-management. Elon Musk has the same amount of time on a 24/7 clock. Like you So basically, it's all about prioritizing what needs to be done. Of course, part of our motto in the programs we offer is definitely focusing on the 20%, that's going to give you the 80% results, and discard the rest. Now, as an entrepreneur, this is important because as an entrepreneur, you have to be a self-starter. Without that, obviously, nothing happens. But at the same time, you don't want to be to the point that you know, you are a self-starter, and you do everything yourself. Because if you do that, then there is no leverage. What that eventually leads to is really practitioner. And if you're a practitioner, it's very hard to grow. So self-management is important, of course, linking that in with 24/7. Clock, and at the same time, you're self-control. This is essential, you know, self-control is important. And patience as well, you know, what you've noticed in the entrepreneurial world, especially with tech in the last 20 odd years is people want to become billionaires overnight, you know, they want to become a Zuckerberg, you know, 24 hours. And of course, we know in history, that's never happened that way, because what happens here is, you know, you get influenced by the media, you read stories online, you know, you hear a few of the success stories, but what you don't hear is a lot of the failures. So patience is very important here. And if you lack patience, eventually, you're not really into mastery, you know, you're into just quick, ad hoc approaches to try to get things done. Without time. Of course, nothing grows. And nature proves that to us, every day of the week. So let's now talk about growth. From the beginning, Netflix co-founder, Reed Hastings considered how his company could scowl effectively, this future-focused approach helped him create a business model that could easily expand over time. And of course, in entrepreneurship, this is definitely a step by step model that really works effectively without trying to do everything at once, because that's silly. So today, overall, Netflix serves over 130 countries. And it shows no sign of slowing down. So basically, they focus on growth. Now, the good thing about this is focusing on growth means the opposite of focusing on growth is in, you know, being in a fixed mindset. And we know that fixed mindsets and entrepreneurship did not go together. Entrepreneurs we mentioned earlier are about innovation, but not innovation from the point of view, like an inventor, that has to come up with a new product every day, I mean, entrepreneurs, you know, that I've met, and for many species can take on already a great product and make it even better. So it's not about you know, being just, you know, from an original, but from an ideal point of view, but it's original, from the point of your mindset, and certainly from a perspective of, you know, staying focused, you know, in some of the greatest entrepreneurs, I'm in a laser-focused now. And that's, of course, very, very important. But it also comes down to your values. You know, so it's about balancing the two, I mean, you want to be laser-focused, as the business grows, grows, grows, but then one of your personal values might be your life, and your lifestyle, and your family and so on. And so it's not easy getting this balance, I'd certainly not pretend that that is an easy thing to do. But this is where, you know, way, if you're focused, specifically, you're really clear on your values, what's important to you, and the goals for your future. And remember, life is short, right? So we're not going to be here forever. So Tibet, in this time frame that you've got, what are you going to do so balancing that is very important for certain if it is, for me, always has been, certainly a lot. So as you get older and more mature, but definitely, without growth, of course, that's, that's a serious problem. Because without those, you die. And as a company, you can't afford that. Because if that happens, of course, you're not going to be able to serve your clients. And then also, of course, how you're going to serve your team. If you're not growing, as you know, as an organization. So focusing on growth, I think it's very important. But always be aware, you know, especially in the crazy world that we live in right now, the risk assessment aspect of that as well. It's not growth at all costs, because if it's growth at all costing, you're playing a very dangerous game in dangerous times. And that's something obviously, I would not recommend, and that's really interesting because I'm a contrarian. So you know, I would definitely push some of those boundaries around that. But at the same time, you got to have a risk assessment strategy in place. Otherwise, you know, you're sort of playing a little bit of Russian roulette.

9:59
Okay, so let me ask you something who's competing with them? Netflix today has Netflix got any competitors sharp. Now, there are many streaming services in the world. But there was a time when Netflix had no direct competitors. And obviously, that's a great example of innovation because the model worked. And then at the same time, that created all sorts of interest from competitors and even non-existing competitors at that time that said, hey, this actually is a model that, you know, could be very effective, maybe we should get into it as well. And that's actually what's happened. So even as the streaming world catches up to the technology, you know, Netflix is still out in front, loading billions of dollars into their homegrown content. So leaders, remember this, entrepreneurs remember this, get out in front of your competitors, have the courage to say something, to do something, to present something that's different from everybody else. Remember, if you don't do that you're only parroting ideas. Now, that's fine. And there's obviously a model for that as well, you know, but long term, that's not what Netflix did, you know, and certainly didn't do that from the start, they try to obviously carve their own position in the market, or in their case, created the market. So you got to get out in front. And what that means is really keep on testing yourself against the greater world. Because if you don't do that, and you create a bubble for yourself, well, that's a dangerous concept as well. Because then, you know, you create the bubble, and the thought bubbles come out of that. And before you know it, you're not in innovation anymore, you're into me, too. And that's a dangerous concept. When it comes to entrepreneurship. If you studied some of the greatest entrepreneurs in history, we know that basically, they always put themselves out there from taking a risk point of view, to create something that wasn't, you know, a bit like a time some of them created something from nothing, you know, and that's an interesting concept, right? Because that takes imagination and courage. And this is, this is important for entrepreneurship, you know, you gotta, you gotta be willing to take those, those risks, you know, because if, if you're not willing to take the risk, you might be in the wrong business, you know, maybe better off being in a safe environment, like, you know, public service or something like that, certainly not in the entrepreneurial world, because why entrepreneurs by nature, every week, they virtually are thinking, you know, how am I going to create something? How am I going to bring value, how I'm going to bring income, so I can feed also my family, of course, and normally what they do is they feed their staff before their family. 

12:49
So it's a different mindset, of course, as they grow and become more successful, and, you know, more effective, that becomes less of an issue, but the psychology doesn't leave, you know, because you're always operating about how are we going to get better? How are we going to get growth? How are we going to grow? And you can only do that by doing the right thing long term. Otherwise, of course, why, you know, when your clients follow you, and this is important, you know, because in the world right now are fake news and disinformation and misinformation, all the confusion out there, and then the fear and so on, entrepreneurs have big opportunities to create the trust element because business right now is being listened to, you know, is because a lot of institutions are coming down. So they are being listened to. But you got to, of course, do that from an authentic place, where people at least know, hey, you know, what, they might not be the best at what they do. But certainly, we can trust them, you know, and it's not about being number one, although Netflix is the example we're using today. Certainly even number two, in the case of Coca Cola, Pepsi works very well. So you know, but of course, the ambition is, is to be the number one because obviously, if you become number two, you know, you've got a lot of payoff from that as well. But the aim here is to lead, don't follow and basically, you know, create the opportunities to really make you stand out in the marketplace. So the final lesson I'd like to share with you is, is about knowing your customers, and then once you know your customers, it's implementing systems and analytics to gather data on of course, the likes, dislikes, etc. So knowing your customers is essential. I don't know about you, but I get bombarded daily, especially from marketeers in reference to you know, digital marketing funnels, every concept you can think of that's really what I would call is, you know, 1970s SPIN Selling. The concept here is basically knowing your customers, you're going to get really clear so you get all these offers, you know, high ticket level type of program. attracting the ultra-wealthy, etc. And you know, you know, you know that that's really nonsense because understanding your customers is all about really getting clear into their heads, what drives them, of course, the tech companies have been exceptional, in reference to this particular area, I, Facebook, Google, Instagram, etc, they understand their customers, and actually, they understand the customers probably a time is better than the customers understand themselves. So it's how do we get that information, and I believe we could get it, you know, you can do it the tech way, of course, and that's very effective. But you know, every business is different. But the trust element is the key here. And the more you're trusted, especially if you're an SME, the more people will give you all the information that you want, as long as of course, you use it from a positive perspective, and don't use it against people, like a lot of the tech companies are doing today. So the concept here is to get your analytics, right, you know, create your, what we call his ideal client persona, and then specifically, target with opportunities there. Because of the experience, you know, I have in reference to that, for instance, as a coach, I have clients that have been ongoing clients in the coaching world for over 15 years. Now, if you ask around, you'll discover that this is actually fairly rare. So what does that mean? Well, when you understand, you know, when you build, first of all, a trusting relationship, people have connected with you people feel safe with you, then they open up, and this is the idea, you know, that you would get coaching for because we're not going to open up Why are you there. So part of being you know, being coachable, obviously, is then sharing your information that specifically, the client that you're dealing with, of course, information, you take that information so that you can help them get better in whatever they are looking for. So part of this is, you know, the analytics is very important, the data that you get, you know, and that includes also the goals and their objectives and where they want to go, uh, specifically with being you know, in touch with you, or the product or service that obviously you're offering. This is for our listeners, if you know, the same concept disaster doesn't matter if it's, if it's a hard product, or educational product, like coaching or whatever the reality is the systems analytics and gathering data is essential. It's about keeping great records and then seeing what you can do with it. And of course, long term, then it's a bit like an onion, you know, as a coach, you start off, you start off at someplace. And the idea is to get to the core, and the cores got layers. So all of this data that you attain, specifically helps you get clearer about the client's needs and objectives. And of course, yours as a coach didn't mean what you would have to do. But, you know, it doesn't have to be a coach, as I mentioned, it could be any product or service, it's, it's important how to do that. And that's really, you know, from a coaching point of view, it's a high touch area. So a lot of entrepreneurs are not in the high touch space, they just want to move products, right. And that's, again, that's great as well, you can definitely do that as well, but it's a different model from the human connection model. But they're all relevant because, as we mentioned, the start it's about implementing systems, and the analytics and data to take from your clients and then you can obviously use that to the best of your client's needs and objectives.

18:56
Thank you for listening. I hope this episode has given you some insights and inspiration. You can all find me on social media. You can follow me on Twitter at Jon_Michail on LinkedIn as Jon Michail and on Facebook as Image Group International. If you need my help on your entrepreneurial journey, please email me and I'll be happy to work with you. The email is on the description of the episode. Thank you all and I look forward to chatting again next week, cheers.

19:41
Jon Michail’s Personal Branding Masterclass" Podcast is sponsored by Image Group International, a global team of practical, digitally savvy personal brand and image strategists, based in Australia, committed to maximizing your impact, influence and authority in the business world.   To learn more and apply for your personal coaching, seminars and group workshops please visit imagegroup.com.au or call 1800 631 311.