Netflix co-CEO reveals his 1-word productivity strategy: "Focus," says expert.

Netflix has taken actions that were previously stated it wouldn't do, such as transitioning to an ad-supported streaming service and incorporating live sports into its content offerings.

At the Fast Company Innovation Festival 2024 on Wednesday, Netflix co-CEO Ted Sarandos admitted that the company's repeated going back on its word was due to the fact that those declarations may have felt accurate at the time. However, he also acknowledged that there were benefits to making such definitive statements, even though things have clearly changed.

Since 2020, Sarandos, the co-CEO, has stated that "never" is a concentrating term.

Netflix announced that it will begin live streaming NFL games on Christmas Day, despite earlier this year, Sarandos expressed his disinterest in live-streaming sports to shareholders during an earnings call.

Netflix's introduction of an ad-supported subscription plan in November 2022, less than three years after co-founder Reed Hastings declared that the company wouldn't include ads in its programming, reflects a change in the company's decision-making.

On Wednesday, Sarandos stated that declaring the company would "never" take certain paths was, in part, about maintaining productivity. This helped his teams stay focused on their tasks at hand.

Here's why.

'A powerful tool for focus'

Avery Morgan, a productivity expert and chief communications officer at EduBirdie, says that Sarandos' approach can be effective.

Morgan explains to CNBC Make It that Netflix's clear boundaries enable its teams to focus on immediate priorities without being sidetracked by every new idea or opportunity.

Prioritizing tasks is essential for productivity, and using the word "never" can help individuals stay focused by eliminating distractions and streamlining decision-making.

The "MoSCoW prioritization technique" suggests dividing tasks into four categories: must-haves, should-haves, could-haves, and won't-haves. The "won't-haves" category, like Netflix's "never," does not mean something will never be included, but only not immediately.

Sarandos acknowledged the ever-changing nature of business operations, as industry landscapes and market conditions require companies to adapt accordingly.

""These are enterprises, not faiths," stated Sarandos."

Sign up for CNBC's online course to master your money this fall. Our practical strategies will help you hack your budget, reduce your debt, and grow your wealth. Start today to feel more confident and successful. Use code EARLYBIRD for a 30% introductory discount, extended through September 30, 2024, for the back-to-school season.

Sign up for CNBC Make It's newsletter to receive tips and tricks for success at work, with money and in life.