Reference no: EM132308552
At age 17, Shahrzad Rafati escaped from the war in her home country of Iran to Vancouver. Living on her own in a studio apartment, she learned English, raised tuition money by teaching math to the local Persian community, and enrolled in a computer science program at the University of British Columbia. Rafati has since spent the last decade building BroadbandTV, a successful Canadian-based media company with 400 employees that draws more than 200 billion video views across the more than 78,000 creators in its network.
Rafati comes from a family of entrepreneurial leaders. Her mother built her own textile company while her father founded a real estate company. Aft er completing her studies, she was invited to go into real estate but wanted something more exciting. In 2005, when YouTube was founded, she noticed a huge legal battle between content owners and pirated content providers. Her idea was to get broadcasters to upload their official videos and connect them with advertisers directly so they could profit from their intellectual property. Success came quickly. “From day one, I wanted to work with the biggest clients,” she says. And she did-landing the National Basketball Association in her first year of business. It has been an energetic road since.
Rafati offers insight for aspiring leaders. “Creating successful businesses isn't just about having a stand-out product, true success ultimately comes down to having a team of stellar people.” She suggests that leaders need to get to know their people. “Building personal relationships with your employees is the best way to make sure they feel heard.” Developing a strong culture helps to build a strong company, says Rafati, who also recommends that leaders “put an ear to the ground and keep listening.”
Rafati also recognizes that every leader fails at some point in their career. Key, though, is what you learn from that mistake. “When I founded BroadbandTV we began our operations in the over-the-top content, however, YouTube was created shortly aft er we began. So, we changed our business plan and pivoted to where the opportunity was.” She calls these “quick failures” and learning from them a key to her success. “There's a reason why trial and error has lasted so long.”
In 2013, Rafati sold 51 percent of the company to European media company RTL for $36 million. Since that deal, BroadbandTV went on to become the largest multi-platform network. BroadbandTV's valuation climbed considerably since then, with viewership rising at an astonishing rate. Revenue at the company is believed to have increased 20-fold to over $100 million.
Her associates attribute much of the company's success to its “hard driving, rapid-fire founder.” Mentor and business associate Hamed Shabazi describes Rafati as an energetic leader whose “charisma really bowls you over.” Rafati's company is positioned well for success. Yet, she is not resting on her accomplishments. Rafati continues to follow her dreams. She is planning ahead for the next tech wave: virtual reality and augmented reality. Like many other business leaders, she is continually seeking the opportunities of tomorrow.
1. Considering the leadership concepts and under which type(s) of leadership would you characterize Shahrzad Rafati? Explain your reasons.
2. Using the concepts , what leadership traits best describe Shahrzad Rafati? Why?
3. Apply placing Shahrzad Rafati on the grid. Which quadrant(s) did you place her? Why? Note: the two variables.
4. Shahrzad Rafati has sold 51% of her company to another group. Is her leadership approach transferable to other leaders and organizations, or do you think it is person and situation specific? Explain your reasons.