Gilt Groupe's Susan Lyne on Her Biggest Risk

I was unprepared when I walked into Bob Iger’s office in April 2004 and he told me I was out as president of entertainment. As often happens at ABC, it was, “We’re giving your job to somebody else. We’d love to have you stay, and I’m sure we’ll find something.” The best thing I did at that moment was be honest with myself. There are way too many people who once ran empires wandering the halls of entertainment companies with their own so-called production company. I said, “Let me go.”

I had never been fired before, and I had no idea what to do next. I went back to New York, and I got a call almost immediately about a similar job at another network. Part of me wanted to dive in again and say, “I’ll show them.” But after a couple of meetings, I realized it was an emotional move. Instead of just reacting, I now had a chance to direct my destiny.