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In this episode of Impact Theory, Tom Bilyeu is joined by Marc Randolph. As co-founder and founding CEO of Netflix, Marc laid much of the groundwork for a service that\u2019s grown to 150 million subscribers and fundamentally altered how the world experiences media. Tom and Marc explore how Marc managed to take action on his dreams and succeeded against all odds. Marc shares how he started Netflix and how they tweaked their business and stopped it from failing like most businesses.\n\nSHOW NOTES:\nThe one-sentence Marc has heard 1000 times from his friends, his family, basically everyone when pitching the idea of Netflix. [1:24]\nThe fundamental things Marc learned in his 50s while skateboarding that helped him build Netflix [3:25]\nHow Marc started Netflix and how they tweaked the idea to stopped it from failing like most businesses. [5:27]\nThe even better approach to \u201cthere are no good ideas\u201d to generate winning ideas. [7:49]\nThe single most fundamental problem why most people never take action on their ideas. [9:05]\nWhat separates an Entrepreneur from a dreamer. [9:46]\nThe fundamental misunderstanding of Entrepreneurship and the deep-seated psychological fear everyone (even Marc) struggled with for years. [15:41]\nThe idea of \u201ctwo-way doors\u201d Marc teaches young Entrepreneurs to practice to escape the traps of perfectionism and take immediate action. (And prevent them from taking too much risk.) [20:21]\nThe fundamental truth about knowing what to test.\xa0[21:42]\nWhere 98% of Netflix\xb4s revenue did come from initially and why Marc decided to give up that revenue. [24:06]\nThe skill Marc is good at, that he calls \u201cthe entrepreneurs secret weapon\u201d [27:20]\nThis brutal moment destroys most business relationships and how Marc handled this \u201cbig ego\u201d moment. [32:48]\nWhy the person who starts a company is not necessarily the right one to run it when it\xb4s big. [37:58]\nThe real challenge in Marc\u2019s life that he is most proud of when he looks back. [41:10]\nHow running for a plane taught Marc the right mindset to chill in the midst of chaos. [45:26]\nThe core principles Marc instills in his kids. (Not what you think.) [52:07]\nMarc\u2019s new podcast about how to take ideas and make them real. [54:40]\xa0\n\nCheck out our Sponsors\nButcher Box: Ground beef for life is back! For a limited time, new members can get 2 pounds of free ground beef in every Butcher Box order by signing up today at ButcherBox.com/impact\nAthletic Greens: Go to athleticgreens.com/impact and receive a FREE 1 year supply of Vitamin D AND 5 free travel packs with your first purchase!\nHelix Sleep: Go to HelixSleep.com/impact for up to $200 off your mattress and 2 free pillows.\nSkillshare: Explore your creativity at skillshare.com/impacttheory for a free trial of Premium Membership.\n\nAre You Ready for EXTRA Impact?\nIf you\u2019re ready to find true fulfillment, strengthen your focus, and ignite your true potential, the Impact Theory subscription was created just for you.\nThis is not for the faint of heart. This is for those who dare to learn obsessively, every day, day after day.\nSubscription Benefits:\n\nNew episodes delivered ad-free\n\nExclusive access to Tom\u2019s AMAs, keynote speeches, and suggestions from his personal reading list\n\nYou\u2019ll also get access to an 5 additional podcasts with hundreds of archived Impact Theory episodes, meticulously curated into themed playlists covering health, mindset, business, relationships, and more:\n\n\nLegendary Mindset: Mindset & Self-Improvement\n\n\nMoney Mindset: Business & Finance\n\n\nRelationship Theory: Relationships\n\n\nHealth Theory: Mental & Physical Health\n\n\nPower Ups: Weekly Doses of Short Motivational Quotes\xa0\n\nSubscribe on Apple Podcasts: https://apple.co/3PCvJaz\nSubscribe on all other platforms (Google Podcasts, Spotify, Castro, Downcast, Overcast, Pocket Casts, Podcast Addict, Podcast Republic, Podkicker, and more) : https://impacttheorynetwork.supercast.com/\nLearn more about your ad choices. Visit megaphone.fm/adchoices