For Entrepreneurs – The Netflix Co-Founder Advises You Not To Look for Answers in Books
It is only a tool that will help you, but it will never replace practice.
Reading books is a practice that will change your life for the better. It is obviously no coincidence that all the great successful entrepreneurs of our time keep repeating that they devote a significant part of their time to reading.
Warren Buffett, the greatest investor of all time, explains that he reads up to 500 pages a day.
While this figure may seem enormous, it is important to remember the purpose behind this practice. For Warren Buffett, as for other successful entrepreneurs, the goal is to constantly reduce his ignorance. In life, it is your ignorance that will most often cost you money.
Reading books is essential, but it will obviously not be enough
Because of your ignorance in certain areas, you are more likely to make bad decisions that will negatively impact your future.
So, you must seek to solve this problem absolutely. Reading is something essential. Unfortunately, some people just read books without trying to apply the knowledge they gain from them.
If you make this mistake, you will never get ahead in your life.
Marc Randolph is less known than Reed Hastings, the CEO of Netflix. Yet, he was at the side of the latter to co-found Netflix. When it comes to book learning, Marc Randolph has an extremely strong opinion:
“Don’t read a book. Don’t take an online course.”
In his eyes, it is through practice that you will really be able to acquire business skills. There is no substitute for practice. The theory is always a long way from what's actually going on for Marc Randolph anyway.
Books are only a tool that can never replace practice
Without being as clear-cut as Marc Randolph, I think the main thing is that you shouldn't expect to find all the answers in books. That's the idea he's so provocatively promoting with his words.
A lot of aspiring entrepreneurs want to get started and read a lot of books about the world of entrepreneurship first. This is a good thing initially. The thing gets complicated when these people imagine they know everything when they start.
These entrepreneurs will quickly become disillusioned when they realize that nothing will happen as planned.
You will face obstacles and challenges that you never imagined. This is where you will understand that theory can never replace practice. Faced with these challenges, some will give up. Others will see them as opportunities to be seized. By adapting and finding answers to these problems, these entrepreneurs will eventually become extremely successful.
The key is to take action as soon as possible and then learn as you go along
Books are just one of many tools you'll need to use to succeed in life.
Without the associated practice to learn from the realities of the field, they will be useless. Marc Randolph reinforces his point by making a comparison with the world of sports:
“It’s like saying if you want to be a player in Major League Baseball, just read a good book.”
This obviously sounds stupid. With business skills, you have to think like that as you train to get better at it:
“No, you get out there and start hitting. Do it. Get someone to throw you pitches in your backyard. That’s how you get better at these things.”
Final Thoughts
Rather than trying to be perfect in every area before you start, Marc Randolph recommends that you start and then adapt as you go along. This ties in with what I've always advocated: the best time to take action is always now.
You will learn unique things from your experiences. The books will have helped you progress, but they are a complement that can never replace taking action and the possible failures that will teach you essential lessons.
It is up to you to find the right answers on your own to achieve the success you want.