Joe Foster: Billionaire Co Founder of Reebok
Today Rob is joined by entrepreneur, author and co-founder of Reebok, Joe Foster. Joe tells his fascinating story of how he took Reebok to become a $4billion company, from creating the Reebok brand, breaking America and selling the company. This is a life story you don’t want to miss. Learn some valuable life and business lessons with the founder of one of the most successful businessmen in the world.
People always advise not to go into business with friends, iIt doesn’t matter if you make friends with a business colleague, but don’t go into business with friends or family. However, if you understand each other's work style, it can work. Find out what each other is good at and utilise those skills. If you have an issue, speak about it openly to overcome it.
When you talk about business, you have to put luck into the equation. Whilst hard work and determination will eventually get you results, luck can come in all forms which can help you along the way. Perhaps your competitors will hit a wall or you will tap into a new market early on and it will boom.
The world has been very peaceful since the end of the War. Now during the aftermath of the pandemic, people are becoming disruptive. A lot of people want a lot because it is put out to society that it is desirable to have tonnes of money and travel the world. It takes a lot more now to make people happy, they are not as happy as others once were when they had far less.
Disruption means to change things without asking permission. When there is a change in the market go for it. Your competitors might think a new trend is just a phase in the industry, however this could catapult you into the lead of your niche industry. A phase can last 10-12 years, and can grow your company into the biggest in the industry.
“Rebok is a shoe, it's no longer a bird.”
“I was the boss, and I could make the decisions.”
“If you start to starve a market, you fail.”
“It was time for me to leave. The challenge was gone, but the ride had been excellent.”
ABOUT THE GUEST:
Joseph William Foster is the co-founder (with his brother Jeff) of Reebok. He shares the same birthday 18 May, as his grandfather, also Joseph William Foster who had died 18 months earlier. Joe's grandfather was the founder of J.W. Foster and Sons and the pioneer of the spiked running shoe, and also developed the trainer (sneaker). The Reebok business developed with Jeff looking after production, Joe took charge of the sales and marketing side, as well as design which included the classic silhouette, outsole and the Starcrest. In the early years Joe travelled many miles introducing Reebok’s offering shoes to Sports Retailers up and down the country. By 1965, Joe was on his way to the NSGA (National Sporting Goods of America) Show in Chicago, which was the start of many Global adventures and experiences that after 15 years brought him together with Paul Fireman and later many stars of film and television. As the surviving founder of Reebok, Joe still welcomes the opportunity to travel and recount those early stories from start-up to making Reebok the World No. 1 sports brand. Joe currently resides in Tenerife, where he is writing a book of his many experiences and adventures.
ABOUT THE HOST
Rob Moore is an author of 9 business books, 5 UK bestsellers, holds 3 world records for public speaking, entrepreneur, property investor, and property educator. Author of the global bestseller "Life Leverage" Host of UK's No.1 business podcast "The Disruptive Entrepreneur."
"If you don't risk anything, you risk everything."
Rob’s official website: https://robmoore.com/
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