‘Kun det bedste er godt nok’ (‘Only the best is good enough’) is the LEGO company motto.
“Since its first interlocking brick was launched in 1949 it has become more popular than any toy in history. Every second, seven new boxes of Lego are sold; for every person in the world, there are 62 Lego pieces; Lego people – mini-figures, as they’re known – outnumber real people. You’d think it would be impossible to to go wrong with a brand as beloved as that.”
Yet five years ago, they almost went bankrupt.
“The problem lay not with the product, but with the company’s attempts in the Nineties to make itself more modern and relevant in the age of video games. It had attempted to broaden its appeal to the young female market; it had tried to become a lifestyle brand with its own lines of clothes and watches; it had built more theme parks. But in doing so it had neglected its core business.”
This is a fascinating story of a company that reinvented itself by going back to the core. With some incredible pictures from the inside, great stuff.
Interesting. But I do think it’s more a question of framing and being true to your guts, because the opposite might be just as true as well.
Read “the good enough revolution” on Wired: http://www.wired.com/gadgets/miscellaneous/magazine/17-09/ff_goodenough
It seems to be about polarizing. Or you’re top notch, or you’re low cost. The middle field is were today’s red ocean seems to be.