In tribute to the passing of Eagles co-founder Glenn Frey, we are re-posting a blog from 2015.
Recently I watched the documentary, The History of the Eagles. If you’re a certain age, you’ll know every song, whether or not you’re a fan.
Some background: The Eagles are one of the best-selling bands of all time, having sold more than 150 million records. Their Greatest Hits (1971-1975) was the best-selling album of the 20th century in the U.S.
As a businessman, I enjoyed the story of how this band emerged, created a unique sound, produced early hits, pivoted, and broke up – only to re-emerge 14 years later and go at it again for a second run.
While watching, I couldn’t help but notice the strong parallels between building a successful band and a successful startup.
It takes hard work – and some luck – to get off the ground. All four members of the original Eagles – Don Henley, Glenn Frey, Bernie Leadon and Randy Meisner – were playing in different bands at various Southern California bars, practicing and perfecting their craft and hoping for a break. They caught one when rising star Linda Ronstadt needed a backup band. She hired Frey, Henley, Meisner and Leadon on the advice of her boyfriend. After tightening their sound with Ronstadt, Henley and Frey asked Leadon and Meisner to form their own band. They recorded their first album in the summer of ’72. Just like a startup, each member of the band brought something new to the founding team. Together, they had a vision of being something better. They also worked hard on perfecting a "sound” that would become the foundation for their first set of hits. In addition, they took risks, such as signing with a new label, traveling to the U.K. (none had been out of the U.S. at that time) to record a “Southern California”-sounding first album. They were scrappy, hungry, and hard-working risk-takers – much like entrepreneurs in general. They had little money, but were intensely committed to making things happen. Their first hit was "Take it Easy", but that's far from the attitude they had toward making it big.
It’s about the band. Throughout the documentary, Frey in particular talks about “what was right for the Eagles.” Despite acknowledging that he and Henley were the leaders and deserved to get paid more for a variety of reasons, he emphasized the importance of the entity and its success over any one individual. Early on, Frey sang many lead vocals, but over time it changed to Henley. It didn't matter to him personally; it was what was good for the band. Also, because Leadon and Meisner were the veteran musicians, the assumption was that they would have a greater influence on the band – but they didn’t, and it didn't matter to them. It was all about what was good for the Eagles. Some members stayed and some members left – or were asked to leave – just like a startup. “The ride wasn’t for everybody. Some people stayed on the bus longer,” Frey said.
How Are You Different? When you're the "New Kid in Town," you need to find a way to stand out, especially in a crowded market. Early on the Eagles’ management hired legendary producer Glyn Johns. Johns had worked with such artists as Led Zeppelin, The Rolling Stones and The Who, among others. When Johns first heard the Eagles, he didn't “get” them. It reminded me of so many experienced venture capitalists who, upon meeting a new team and hearing their pitch, decide to pass. They often don’t “get it,” for some reason or another. But then Johns heard the four sing their signature country harmonies a cappella during a break and “Bingo!” He knew instantly he had something he could work with. He produced their first couple albums, and then … the Eagles fired him.
Be Willing to Pivot if you Want to Make it for the "Long Run"The Eagles did a few things along the way that great startups do as well. In today’s startup language, they “pivoted” after their first few albums, moving away from country rock to harder rock – a sound they wanted. This was despite their initial success – another example of risk-taking.
As you can tell, I enjoyed the documentary and its parallel to a startup business. It’s a great documentary on so many levels, even if the viewer is not a fan of The Eagles. Henley makes the comment that the song “Hotel California” is about the evolution from innocence to experience. I had never thought about the song that way, but it certainly resonates; we all go from innocence to experience in any business endeavor.
Greg Coticchia is Director of the Blast Furnace student business accelerator at the Pitt Innovation Institute.