Disney: Lessons from The Ride of a Lifetime by Bob Iger

The Ride of a Lifetime by Disney’s CEO, Bob Iger, is my favorite business book. Bob has an incredible story and is also someone who has mastered the art of negotiation. Since joining The Walt Disney Company, he has closed some of the biggest deals in the history of the entertainment business.

Here are three principles from his negotiation style: 

Be candid: Bob thinks it's crucial to be honest about what you are looking for in the negotiation. Eliminating the gamesmanship of traditional sales not only saves time but also allows the other party to explain what they intend to gain from the agreement. You must abandon the idea of a zero-sum game to have a healthy negotiation that leads to more opportunities in the future.

Keep the momentum going: Bob likes to move quickly on his deals to keep the momentum going. This keeps the excitement of the opportunity top of mind without allowing other competitors to get in the way. It also helps to not get the deal killed in internal politics. This reminds me of Jeff Bezos’ motto, Gradatim Ferociter, which in Latin means "step by step ferociously."

Don’t let ego get in the way: Steve Jobs wasn’t excited about selling Pixar to Disney, but Bob stayed humble and presented the vision that he saw for the future of Pixar and Disney. Bob knew that building Disney’s animation division from within was going to be more difficult than buying the best animation studio in the business. They both ended up becoming good friends up until Steve’s passing in 2011.

Here are Bob’s biggest deals since joining Disney:

The acquisition of Pixar in 2006 for $7.4 billion. It brought iconic franchises like Toy Story and Finding Nemo under the Disney umbrella, as well as the Pixar method of storytelling and technology.

The acquisition of Marvel in 2009 for $4 billion, gave Disney ownership of the entire Marvel universe, including hits like The Avengers, Black Panther, and the new Marvel stories on Disney+.

Lucasfilm in 2012 for $4 billion, giving Disney control of the Star Wars franchise. Disney has been building the Star Wars universe with stories like The Mandalorian and Andor.

The acquisition of 20th Century Fox in 2019 for $71 billion. This deal expanded Disney's media and entertainment portfolio, bringing franchises like Avatar, X-Men, and The Simpsons under Disney's control.

Lastly, BAMTech, a streaming technology company for $3.8 billion, which was bought in different chunks since 2017. It helped lay the foundation for what today is Disney+.

These acquisitions helped shape Disney into one of the largest and most powerful media and entertainment companies in the world. 

What are your favorite negotiation principles or your favorite Disney movies?

Thanks for reading!