Netflix : An American Multinational Provider Of On Demand Internet Streaming Media

How Netflix Innovated and Won

Netflix is an American multinational provider of on-demand Internet streaming media. Netflix has become one of the faces of our youth, and the striving business continues to expand their boundaries. As every business they started as just an idea and has now grown into one of the top businesses in the entire world. Netflix developed a principle that any company should follow if they want to succeed, and is broken into four parts:

Think Big: Starting a business can be a hit or a miss, and once one of your small ideas start to make profit, you shouldn’t be afraid to step outside of the boundaries of your business. There are always ways to make you business bigger and better, and expanding should always be in the back of your mind even if you may be afraid your “big” idea is preposterous and may affect your smaller idea that is making you profit. Just remember the world is always changing and a new idea can always come around and run you out of business.

Start Small: When you have your big idea in your head, there may be times where you become impatient and want to rush your idea. Even though it seems like the next big thing, sometimes you have to take things one step at a time and start very slowly to work you way up to “The Next Big Thing”.

Fail Quickly: When starting off people may have a hard time adapting your idea, and you may start to loose a lot of money. In the beginning that is just something that an early business owner has to deal with, they have to be patient and wait for their time to come.

Scale Fast: Once you business is on top, there will be more competitors that ever. This is where you scale you have to find ways to improve your business and try to stay on top, think back to “think ...

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...Most importantly the problem they had loosing employees to Facebook.

The Key Innovation Question: What Business Are You Really In?

Competition strives all innovation for businesses. No matter what, there will always be competition, meaning innovation will always need to be present in the business field. When innovating a business you need to know what field you are actually in or it can take a huge toll on your overall profit. If you don’t know what business you are in there are many ways your business can fail. You can spend money and try to make advancements to your business and your new products can be inefficient to the consumers of your product, Or you can be to comfortable and try to innovate things that doesn’t make your product better. When trying to make advancements in business one of the 1st questions you should ask is What Business Are You Really In?