Rick Watson’s Post

Excellent insights and overview of what's been happening at #Nike (💙👟). Deep lessons for entrepreneurs, but a few stand out: 👟 Customers saw the decline of Nike all along, but leaders didn't. 👟 Customers shifted their buying habits once Nike shifted it's approach on product development, placement, and positioning. 📈 Short-term profits were prioritized over committment to vision and product development. 🪡 Customers saw no passion in the development of Nike products. They saw no inspiration and were uninspired. "As Peter Drucker, the greatest of all management thinkers, said, 'the purpose of business is to create and keep a customer.' And the way you create customers is by creating great products." To all entrepreneurs, this is all that matters: Continue to create great products (with passion and commitment) that customers will love. 🤩 I look forward to buying my next pair of sneakers from Nike... hopefully soon. :-) Read more here:

Building a consumer business. The simplest way to look at building a consumer brand is the 2 step framework. Do you have a right to play? The right to play within any category comes from having differentiated products. Not superior products, differentiated. Example, if everyone is selling 25g of protein per serve, 26g or even 27g is not really differentiated. Unless you discover an earth shattering consumer need for the additional. People can just have a little more than a scoop! But clear protein that looks like water, now we're talking. Do you have a right to win? The right to win comes from building a brand. And what building a brand means is possibly the most convoluted of subjects. People will start wanting to be the Nike's and Apple's of the world. Fact, Nike for the longest was making superior shoes for track and field athletes, so that they could run faster. None of the "just do it" etc. Just shoes for track and field athletes. First start by telling people who you are and what you do. Find a single message and keep repeating it, also, it better be a message that people care about. Then later, once you have a real business, try being the Nike of your category. That's it. Just these 2 things, well, not really. But its a good start. #d2cbrands #brandbuilding #consumerbrands #scaleup

Nike is facing a big loss in business! The brand recently faced its biggest market drop since 2001, nearly losing billions in value and causing investor panic. In this feature by Campaign Asia-Pacific, I explained various reasons behind this downturn. Key challenges include increased competition from brands like Under Armour and Adidas, changing consumer spending habits, and inflation. As a result, the demand for pricey trainers and athletic gear has dropped. Nike is also dealing with excess inventory, meaning they have more products than they can sell. This often leads to markdowns and lower profits. For a deeper look at what's affecting Nike and their strategy moving forward, read my full take on Campaign Asia-Pacific: https://lnkd.in/dyxZAF6j? Do you think Nike can recover and regain its top spot? Be Bold. Be Daring. Be Different! #nike #consumerinsights #recession #branding #startup

Nike laid me off, and it's been 3 years since then. Even so, I still love Nike. And this is what I want to say to Nike today. When I worked for Nike, it was always a growing company with strong potential. Now, it seems to have lost its motivation. I believed, and still believe, that the main source of Nike's potential is innovation. Without innovation, Nike is just 'Nice,' not 'Nike.' They should stop merging Inline and Innovation. Innovation can never coexist with Inline production. Innovators don't concern themselves with how their imagination can be turned into a shoe. Making it into a sellable product is the responsibility of the Inline developers. Innovators create ideas for the next decades, and that is the true power of Nike, allowing them to keep growing. In my view, I haven't seen any innovative ideas in recent products. Design changes and the reuse of similar technologies are becoming boring. These design changes might work for the NSW market, but without next-level technologies, Nike will lose its foundation. No runners, no athletes, and no fans. Nike should remember how it began its glorious era. Bowerman and Prefontaine—their names are not just part of the past; they still live in Nike's spirit as the first generation of innovators. Please remove the Tech CEO. Technology is just one of the ways Nike sells its products, but it is not the spirit of Nike. Never forget that Nike is about athletes. Phil or Mark may never see my article, but I hope my message can reach them.

Ever hear of Nike? A little shoe company. Maybe you have. Either way…great article on what happens when you make poor business decisions. A DTC strategy, needs to be done cautiously with established B2B brands. Good thing Nike is a giant. And their CEO hire couldn’t be a better fit for this moment in their history. But for my money a brand like Tracksmith is being authentic, and hitting emotional with the brand and their consumers, and should lead to longevity with their customers. Focus on product and features is easy for other companies to replicate. Lesson; be who you are as a brand, never forget those that got you to where you are, and listen to the consumer. They are the brand.

Nike Failed and Ferrari Successful Turnarounds a Study In Tech Management Contrasts What is the role of technology in your organization? Silver bullet solution to every problem? Or enabler to the core assets of the brand? Based on two recent WSJ articles on both Nike (Donahoe missteps) and Ferrari (Vigna turnaround), it's clear which is which. Ferrari: * Started with a focus on people, and a great product that meets the needs of its enthusiasts. * Flattened extra management layers with the express goal of getting leaders closer to direct customer feedback and improvement. * "Imagine an onion, the center is the people, the next layer is product, and the final layer is process." - nice quote which fits this business well. * Moved to a small team structure where the test drivers are the "customers" and equal to the engineers, rather than nested under the engineers. * Eschewed consultants in helping it choose its vision, instead trusting its top employees feedback. CEO directly collected feedback and developed a point of view. Nike: * Neglected the core of its product: innovation, instead it rested on its laurels. How many times have we said here "what does Nike stand for anymore?" * Cut out its retail partners in an attempt to "own the customer" thinking this was the biggest asset. * Took on more inventory at exactly the wrong time. * Invested in technology for its own sake. * Followed Silicon Valley fad to cut staff for its own sake. It didn't help. In truth, Phil Knight and the former CEO (current Exec Chair) had the wrong goal. The goal is not to "own" the customer. The goal is to "serve" the customer. It's a matter of priority. If your goal is only ownership and not service, you will own very few customers looking for discounts and your business will decline. If your primary goal is service, and then ownership, you will own your most important customers for life, and recognize that your retail partners can service many of your customers in a healthy, growing business. After all, if we are not in service of the customer... then our businesses are not long for this world. No matter how great your legacy brand is.

👋 Hey everyone, have you heard about the recent news regarding Nike's new chief facing challenges in their turnaround efforts? Check out the article from Financial Times for more insight into this developing situation. It's an interesting read that sheds light on the complexities of leading a major company through transitions. #Nike #BusinessNews #LeadershipChallenges https://ift.tt/yVpiOZq

🔥 From a Vision to a Global Phenomenon: Lessons from Nike’s Unstoppable Rise 🔥 While reading The Story of Nike 📖 by Aaron Frisch, I was struck by the sheer power of vision, resilience, and innovation that transformed a simple idea into a global empire. 🌍💥 One quote from Phil Knight, co-founder of Nike, really hit home: “We make every effort to take consumers where they want to go before they realize they want to go there.” This mindset didn’t just build a company—it built a movement. 🚀 Here’s how we can apply Nike’s legendary rise to our own businesses and personal growth: ⚡️ 1. Be a Trendsetter, Not a Follower Nike didn’t wait for the market to tell them what to do—they created the trends. They tapped into a deep understanding of their audience’s needs and led the way. In today’s fast-paced world, whether in business or life, you must anticipate the future and stay ahead of the game. 🔮💼 Don’t just react—innovate. ⚡️ 2. Relentless Innovation = Relentless Success From the iconic Air Jordans to cutting-edge tech gear, Nike has always pushed the boundaries. Their journey is a clear lesson: If you’re not innovating, you’re becoming obsolete. Ask yourself—how are you pushing the limits of what’s possible in your industry or personal life? 💡👟 The key to success is to never get comfortable. ⚡️ 3. Build a Brand, Not Just a Business The Swoosh isn’t just a logo—it’s a symbol of triumph. 🏅 It’s a reminder that we can all strive for greatness. Your brand should stand for something bigger than your product—whether you’re selling shoes, services, or ideas. Tell a story that resonates with your audience and aligns with their aspirations. 🌟👊 ⚡️ 4. Embrace Change and Evolve with the Market Nike didn’t just stick to shoes—they evolved with the times by embracing digital platforms, apps, and wearable technology. In business, stagnation is the enemy. Be ready to pivot, adapt, and grow with your industry to stay relevant in a constantly shifting world. 🌐📲 What are you doing today to prepare for tomorrow’s market? ⚡️ 5. Make it About the People Nike’s success isn’t just about products—it’s about people. They connected with athletes, dreamers, and achievers, making everyone feel like a champion. 🏆 Your success is directly tied to how well you understand and serve your audience. Make your customers the heroes of your story, and they will keep coming back. 💪👥 Nike’s story isn’t just a business tale—it’s a guide for anyone who wants to achieve greatness. Whether you’re running a startup, scaling your business, or just striving to be the best version of yourself, these lessons apply to every journey. 🛤️🔥 ✨ Takeaway: Dream big. Innovate endlessly. Lead with purpose. Build something bigger than yourself. 💪 What steps are YOU taking to lead in your field and create something lasting? 💭 Drop your thoughts below! 👇 #Nike #BusinessStrategy #Entrepreneurship #Innovation #Leadership #BrandBuilding #FutureOfBusiness #Inspiration

👟 Nike: A Story of Innovation, Challenges, and Triumph 👟 Ever wondered how Nike, a brand synonymous with sports, innovation, and culture, became a global powerhouse? Let’s dive into a story that’s not just about shoes but about overcoming hurdles, embracing change, and connecting with people on a deeper level. Innovation at Heart: Nike’s story began with a quest for a better running shoe, leading to the invention of the waffle sole by Bill Bowerman, Nike's co-founder. This spirit of innovation didn’t stop at shoes; it extended to apparel, equipment, and even digital platforms like Nike+ and the Nike FuelBand. It's like inventing the wheel and then building a car around it—revolutionary and game-changing. Turning Challenges into Opportunities: Facing skepticism from runners who viewed them as mere salesmen, Nike’s founders realized the power of authenticity. They connected with athletes, turning them from users into advocates. It’s akin to finding a guide in a foreign land; trust is the compass that leads you to acceptance. Embracing the Digital Era: With the advent of mobile technology, Nike didn’t just adapt; they led the charge into the digital realm. Partnering with Apple for the Nike+ Apple Watch, they bridged the gap between athletic performance and everyday tech. Imagine merging the gym with your smartphone, creating a fitness studio on your wrist. Navigating Controversies: Nike’s journey wasn’t without its share of controversies, from allegations of sweatshops to endorsement scandals. Yet, like a phoenix rising from the ashes, Nike addressed these issues head-on, striving for ethical manufacturing and standing by their athletes during tumultuous times. It’s about facing the storm and steering the ship with integrity. Marketing Genius: Beyond products, Nike mastered the art of emotional connection. Their campaigns, like the iconic “Just Do It,” transcend selling shoes; they inspire, motivate, and resonate on a personal level. It’s not about the sneakers; it’s about the stories, dreams, and aspirations they represent. Nike’s narrative teaches us the power of innovation, authenticity, resilience, and emotional connection. As we lace up our Nikes, let's remember the journey behind the brand—a journey of triumphs, lessons, and relentless pursuit of greatness. #Nike #Innovation #Marketing #BrandStory

Lesson is very simple: -      Brand = Functional Part (product or service) + Emotional Part (The core – philosophy of doing business) -      Never Deviate from the core of the brand! -      Never Stop Building a brand! -      Use and act on tools and events that suits the brand and not just things that are in fashion for the moment -      Brand is a long term - it is a marathon not a sprint! Plus, I think in this case responsibility (and guilt) should be equally, if not more, attached to the people who made a decision who brought new CEO in, (as it seems) without any explanation, instructions and sharing WHAT Nike IS. They at list (before they let him manage NIKE) should have made new CEO read a book - Shoe Dog: A Memoir by the Creator of Nike – by creator of Nike Mr. Phil Knight. #brand #branding #brandmanagement #brandstrategy