Reed Hastings (Netflix) – the worst CEO ever

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(The post title could easily be a question or a statement.  I’ll leave that up to you.)

In August if you were a Netflix customer you, like me, received an email from Redd Hasting, the CEO of Netflix.  I was shocked by his arrogance and lack of gratitude for his customers.

The company acknowledged that “some subscribers will cancel Netflix or downgrade their Netflix plans, [but] we expect most to stay with us.”

Wow, who really wrote that?  Who proofread it?  Were they drunk?

While Netflix has since done a great job at covering up the horrible job they did at announcing the price increase, they still have a long way to go at winning customers back, especially me.

The best thing Netflix could have done was keep their headpin out of the limelight OR better yet, had someone read his email.  Marketing 101 tells you to treat your customers well.

If someone is paying you for a service then never forget someone else can do the same job better and at a lower cost.  No one is immune to this.

In mid September Netflix sent an “apology” press release but the damage had already been done.  Saying “sorry” is not going to cut it for most hard working people, especially in this economy.

Lessons to be learned

  • Before you make major business changes get outside eyes to review your plan.
  • Your CEO (even if he’s the founder) is not necessarily your best spokesperson
  • You have NO business without customers
  • There is NO room for arrogance when it comes to people giving you their hard-earned money

When I first signed up for Netflix I loved it.  It was convenient and  worth every bit of $7.99.   At this point I wouldn’t accept a free subscription.

Craig Kelley

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Craig is the author of How to Get Out of Debt and an avid blogger. He strives to help people maximize their time and succeed financially as well as personally. He has been a leader in several start-up companies including Mokumax Virtual Domains & Servers, Inc. and currently HealthcareSupplyChain. Read more...

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