Business Lessons from Dr. Dre and Jimmy Iovine
If you are a music fan, you will enjoy HBO's 4-part documentary the "Defiant Ones" about music producer Jimmy Iovine and Dr. Dre. You'll also learn some pretty interesting business lessons from the rough and tumble music industry. The experiences of Dr. Dre. and Iovine provide some fascinating examples of perseverance, crisis management, flexibility, and integration of technology. When Iovine wanted to sign Trent Reznor and Nine Inch Nails to his label he called the president of the record company that had Reznor every day at 6 a.m. for a year. When Interscope records received acquisition offers worth hundreds of millions of dollars, Dre and Iovine played media titans off each other to get the most value. They both also launched a new technology company in headphones (Beats by Dre), an area they didn't have much knowledge about. That company was sold to Apple for $3.2 billion. Rather than reading dry business school case studies, turn on the Defiant Ones and take some life lessons from this incredible entrepreneurs.