One of the best strategists of this century probably won’t be recognized as such, though most people know his work. He has taken his company from almost nothing to one of the most profitable in the industry. And he did it with short-term wins that built on a long-term strategy with a 12-year horizon. The brilliant strategist? It’s Kevin Feige.
From humble beginnings…
For those who love Marvel movies, Kevin Feige is a household name. Before becoming CEO in 2007, Marvel Studios was very close to bankruptcy. To avoid Chapter 11, they licensed properties like X-Men, Spider-Man, and the Fantastic Four. But some “secondary characters” were unwanted, so Feige made the decision to make the movies himself. He started with a lesser-known character named Iron Man and cast Robert Downey Jr. as Tony Stark. It was a strong stand-alone movie with action, comedy, and a big heart. But from the beginning, Feige had plans for Marvel Studios, teasing a “bigger universe” as Nick Fury put it following the credits of Iron Man, the first movie. And with a global box office take of $585 million, it was a promising start.
To the birth of the MCU…
Feige began producing more films to grow a Marvel Cinematic Universe (MCU), giving characters their own movies with sequels to boot. Feige found talented scriptwriters, brilliant directors, and passionate actors that would throw themselves into their roles. The characters of Hulk, Captain America, and Thor came first in Phase 1. After their success, Guardians of the Galaxy, Ant-Man, Doctor Strange, Black Panther, and Captain Marvel followed in Phase 2. Spider-Man also joined, although his rights were still owned by Sony. However, as Sony saw this MCU continue to grow, they knew adding their licensed property would be a winning proposition. They weren’t wrong: each film produced by Feige averaged $980 million in global ticket sales.
With an impressive end in mind
The end goal of introducing these characters was to bring them together in Avengers movies where they would work together to fight against a common enemy. Movie-goers flocked to theaters to see the interaction between their new favorite superheroes. The final movie, Avengers: Endgame, broke records for the highest-grossing film ever and Marvel Studios became the biggest movie company in the world. And it only took 12 years after Feige became president of the studio.
Short term should build your long term
Many business owners will say that short term strategy is easy: find a need, fill it, and then find the next need to fill. Companies do that every day. But, the truly great ones have an eye on the long term strategy. They recognize that a short term opportunity should only be taken when it moves them toward a bigger, longer-term one.
It can be difficult to determine what your long term strategy should be. It’s a dance of internal vs. external forces. Feige recognized Marvel’s strengths: telling great stories and a list of characters they could build from. He also saw the forces around them creating opportunities – more channels and mediums where those stories could be told like network TV, streaming services, cable, etc. In addition, there was growing talent to utilize and a fan base clamoring for a tribe to belong to.
The important work is a long-term strategy
Taking the time to build out your long-term strategy is important for any organization. Whether you look 5, 10, or 20 years into the future, you can build a plan that capitalizes on today while building for the future. By looking at your company’s strengths and capabilities and matching them with upcoming trends and changing market factors, you can create a cohesive long-term strategy. Once done, you can work backward from the final goal to develop the short-term wins that will build the momentum to get you to your own Endgame.
