Overall this book is more a set of recollections than reflections on important lessons. However, there are a few useful nuggets.
First, a lesson that Iger learned on the importance of market size. Shortly after Disney acquired Iger’s previous employer, Capital Cities, he was considering starting a magazine:
In fairness, it was a small idea and arguable not worth the time and investment…. Dan Burge taught me that exact lessons early on…. Dan handed me a note that read: “Avoid getting into the business of manufacturing trombone oil. You may become the greatest trombone-oil manufacturer in the world, but in the end, the world only consumes a few quarts of trombone oil a year!” (p. 61)
On the importance of time management:
Managing your own time and respecting others’ time is one of the most vital things to do as a manager. (p. 63)
An interesting aside is that, after many months of negotiation, the final impetus for acquiring Lucasfilm was taxes:
It was an upcoming change in capital gains laws that eventually salvaged the negotiations. If we didn’t close the deal by the end of 2012, George, who owned Lucasfilm outright, would take a roughly $500 million hit on the sale. If he was going to sell to us, there was some financial urgency to come to an agreement quickly.
For more, see this episode of the Acquired podcast.