Reebok's Billion Dollar Pivot w/ Joseph William Foster

You’ve all heard of REEBOK. Many of you own one or more pairs of Reeboks. But how many of you know the fascinating story behind the brand? Reebok’s history and how the company evolved over the past several decades has both been a MARATHON and a HUNDRED-YARD DASH at times. Through it all, there is one man who has been there from the beginning. This week’s guest, the legendary JOE FOSTER, has got 60 YEARS of experience he’s going to share, so step up to the starting line and get ready for a run like you’ve never heard before.Running shoes and running companies are both in the Foster family genes. Joe’s grandfather, also Joseph W. Foster, pioneered the spiked running shoe and gained worldwide notoriety making those shoes under the brand J. W. Foster & Sons Ltd. The best athletes of the early 20th century used them to set numerous WORLD RECORDS and earn a slew of OLYMPIC GOLD MEDALS. From those successes, Joe and his late brother Jeff launched Reebok in the UK in 1958. It took another 20 years to crack the U.S. market, but Reebok did at the height of a fitness craze. The results were ASTOUNDING. In five years, Reebok grew ONE HUNDRED TIMES OVER, from a £9m to a £900m business. When Joe left the day-to-day operations in 1990, Reebok and Reebok International were worth a combined $3 BILLION.Joe remains an ambassador and speaker, and recently published an autobiography of his journey launching Reebok, called "Shoe Maker: The untold story of the British family firm that became a global brand".You’re going to enjoy hearing a lot of INSIDER STORIES about how Reebok grew EXPONENTIALLY but you’ll also hear how Joe and his brother dealt with years and years of REJECTIONS before breaking through. Reebok understood the importance of INFLUENCERS early on, and Joe reveals how Reebok leveraged those relationships as a key element of the company’s GROWTH STRATEGY.One of the most important things Joe talks about is how to FIND BALANCE as a family man and an entrepreneur. If you’ve struggled with this, pay close attention to how Joe has managed to find that DELICATE SWEET SPOT that’s a common problem for lots of success-driven people.Joe wraps up things with some FUN advice for entrepreneurs.Just like wearing the best shoes on the planet is an important part of WINNING THE RACE, you need to download the best advice on the planet if you want to win whatever race you’re in. And an hour spent listening to Joe Foster will definitely give you the COMPETITIVE EDGE you need. Learn more about your ad choices. Visit podcastchoices.com/adchoices