DreamWorks Pictures co-founder Jeffrey Katzenberg on succeeding in Hollywood and owning your failures
Nov 7, 2023
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DreamWorks Pictures co-founder Jeffrey Katzenberg discusses his journey in Hollywood, from successes like Pretty Woman and The Lion King to setbacks and pivots. He shares stories of getting fired from Disney and getting back on his feet. Leadership expert Charlene Li also provides tips on embracing failure and its significance in your career.
Setting high standards and consistently exceeding expectations propelled Jeffrey Katzenberg to become one of the most influential people in the movie industry.
Jeffrey Katzenberg embraced failure as an important part of the learning process, treating it as a data point and using setbacks as opportunities for growth.
Deep dives
Setting High Standards and Exceeding Expectations
Jeffrey Katzenberg's career in Hollywood was marked by setting high standards for himself and consistently exceeding expectations. Starting from his early days as a gopher at Paramount Pictures, he embraced every job with the goal of doing better than what was expected. This mindset propelled him to become one of the most influential people in the movie industry, producing iconic films like The Lion King and Shrek. Katzenberg's dedication to exceeding expectations extended beyond his professional life, as he aimed to exceed the expectations of his friends, his children, and even his spouse. By focusing on excellence rather than perfection, he was able to achieve remarkable success.
Embracing Failure as a Learning Opportunity
Throughout his career, Jeffrey Katzenberg faced significant failures, like being fired from Disney and experiencing the failure of his startup, Quibi. However, he always saw failure as an important part of the learning process. Instead of shying away from failure, Katzenberg embraced it and took it as an opportunity to grow. He recognized that taking risks and pursuing unique and original ideas inevitably comes with the possibility of failure. By treating failure as a data point and learning from each setback, he was able to bounce back and achieve remarkable success in the entertainment industry.
The Importance of Anticipating Failure and Redefining Success
Jeffrey Katzenberg's approach to failure involved anticipating potential failures and redefining success. He emphasized the importance of scenario planning and identifying the worst-case scenarios to ensure preparedness. He also encouraged setting ambitious goals that have a certain level of risk attached to them. Redefining success meant moving away from the traditional notion of achieving 100% perfection and instead focusing on continuous improvement and exceeding expectations. By embracing failure as part of the journey and reframing success, Katzenberg was able to create a mindset that allowed him to take risks, learn from failures, and achieve remarkable success.
Jeffrey Katzenberg is one of the most recognizable names in Hollywood, with credits like Pretty Woman, The Lion King, and Beauty and the Beast. He spent years at Paramount, served as the Chairman of The Walt Disney Studios, and co-founded DreamWorks Pictures. But he faced some major setbacks and pivots on his path. Jeffrey talks with Ryan about what came before and after Hollywood, how he got back on his feet after getting fired from Disney, and the importance of exceeding expectations. Then, leadership expert Charlene Li shares tips on how to embrace failure and underscores its significance in your career.