Aurimas Slapšys’ Post

🚀 LEGO’s Legendary Rebuild: From $130M Loss to Global Icon 🚀 In 2003, LEGO faced a daunting $130 million loss, plagued by failed ventures into theme parks and clothing. But by 2004, a strategic overhaul led by CEO Jorgen Knudstorp set the stage for an incredible turnaround. Here’s how LEGO transformed its fortunes: Crisis Point: By 2003, LEGO was in deep trouble. The company had overextended into non-core ventures and was struggling financially. Strategic Shift: Enter CEO Jorgen Knudstorp, who focused on LEGO’s core product—the iconic brick. Non-core ventures were cut, streamlining operations and returning the focus to what LEGO does best. Simplify to Amplify: LEGO dramatically simplified its product line, reducing the number of brick shapes from 12,000 to 2,000. This focus on core strengths not only boosted efficiency but also revitalized the brand. Fan-Powered Innovation: With the LEGO Creator initiative, the company invited fans to design new sets. This move reignited engagement and innovation, creating a stronger connection with LEGO’s passionate community. Pop Culture Impact: The 2014 LEGO Movie, featuring the catchy “Everything is Awesome” song, was a game-changer. It earned $469 million and reinvigorated LEGO’s image, cementing its place in popular culture. Building Back Stronger: By 2016, LEGO had not only recovered but thrived, becoming the world’s largest toy manufacturer. The key? A renewed focus on classic themes and core products. Key Takeaways: LEGO’s journey from crisis to success offers powerful lessons for any business: - Focus on your core strengths - Simplify and streamline - Engage and innovate with your audience Apply these principles to transform your own business and build back stronger! 💡 #BusinessTransformation #Leadership #BrandStrategy #Innovation #BusinessGrowth #LEGO

Can Innovation Bankrupt Your Company? Innovation is often hailed as the key to business success. But can too much of a good thing actually be bad? 🤔 LEGO's Golden Age and the Innovation Binge: During the 80s, LEGO reigned supreme. Sales were doubling every five years, and profitability was soaring. 📈 Then came the 90s, and LEGO, following a common trend, went on an innovation binge. Star Wars and Harry Potter themed sets, theme parks – you name it, LEGO did it. 🌟 The problem? Unfocused innovation. These ventures were flashy but financially disastrous. LEGO was losing over a million dollars a day. 💸 The Road to Recovery: Jorgen Vig Knudstorp made some tough calls. Theme parks were sold, and thousands of unprofitable products were discontinued. LEGO then refocused on its core strength - building blocks - and strategically introduced board games and partnerships with franchises like Marvel. 🎯 LEGO didn't abandon innovation; they simply brought it under control. 🔄 Should innovation be uncontrolled or controlled? 🤷♂️ Share your thoughts in the comments! 💬 https://lnkd.in/d-tnZpNv #business #businessideas #businesscasestudies #growth #contentcreator #content #follow #connect #like #subscribe #share #repost #save #likeforlike #growth #growthmindset #innovation #businessinnovation #innovationjourney #business #case #businessgrowth #businessstrategy #businessstudies #businessmarketing #businessmanagement #businessstartup #businessintelligence #businessinsider #casestudy #casestudies #businesscommunication .

Crowdsourcing product ideas? Proceed with caution. LEGO nailed it, but Quirky? Not so much. Quirky raised over $180 million by turning ideas from everyday inventors into products, but they failed because they built too many things no one wanted, leading to poor sales and bankruptcy. LEGO, on the other hand, used crowdsourcing for their Saturn V Rocket but only produced it after getting 10,000 supporters, ensuring real demand before committing to production. The lesson? It’s great to know what people want—but make sure enough will buy before you build. ---- Want to know how? DM me—I have one spot opening up to help a company in late October. You can also follow along (Hayley Rose), I post tips all the time.

Don't wait for tomorrow to chase your dreams – start today. The actions you take now will shape your future. Embrace the opportunity to make progress and move closer to your goals. Remember, the sooner you start, the sooner you'll achieve success. Seize the moment and begin your journey today! #StartToday #SeizeTheMoment #JayTheLauncher #LauncHer

Anyone who has ever run a marathon will recognize this https://lnkd.in/ePTr7YXg This is also true for the many #Weconomics partners who are working as professionals, on a project or as a startup. Winning isn't comfortable... but together it becomes easier www.weconomics.info

The green transition calls for eco-friendly shopping habits, yet today's modern era fuels harmful consumer behavior worldwide. eComID steps in as a game-changer, enabling online retailers globally to slash product returns, benefiting the environment, industry, and consumers alike. CapitalT, Anaheta v. Berenberg-Consbruch, Madeleine Persson and H&M Group Ventures with founding member Karl-Johan Persson participate in eComID's latest funding round. eComID, a solution that empowers global online retailers to collaboratively reduce product returns, closed an investment of 27 MSEK. Read more: https://lnkd.in/de5bc8hC #nordicangels #ecommerce #impact #startups

Starting the week with a few personal shoutouts. First one goes to Cowboy & Adrien Roose. I can't wait for their arrival in Portugal. Cowboy's approach to technology integration is noteworthy. It enhances the riding experience without overwhelming the user. They are a new entrant in the urban e-bike segment. Positioned totally distinct. 👉 sophisticated design 👉 smart features 👉 ride comfort 👉 removable battery 👉 great user experience ... and more that I invite you to read on the EUVC latest newsletter. Link in comments. 🔽 How about you? Let's show our appreciation more often! Leave your shout-out to a product you love in the comments section! #venturecapital #angelinvesting #startupfunding #europe

STARTING UP A NEW CAR COMPANY? WHAT’S IN A NAME? I was lucky enough to see from very close quarters the start up of a car company when drive were invited to be design partners. When the founders of Zenos Cars Limited, Mark Edwards and Ansar Ali started,, they went through a process of deciding what their approach was to be establishing and naming their car company. They considered several options including buying an established company, registering / purchasing a recognised but now dissolved marque or starting afresh with a totally new brand. Looking at the pros and cons they decided that on balance it would be better if they started with a clean sheet and build from scratch. They invested and went to such lengths, involving Mike Taylor of brand advisors Meda from the very start, to ensure they got it right realising how important this aspect of their offering was. They were able to create a strong brand proposition for their new company, to deliver an engaging (thrilling) experience focused around lightweight sportscars – “Experience the thrill of belonging”. The brand values were to be defined by Accessible, Ingenious, True, Rigorous, Passionate and Attentive. It would not necessarily be easy to establish themselves or the brand, however the problems of taking an existing or previously known brand, far outweighed the benefits.  Namely that the baggage brands can carry could hold back the operation.  Anything from die hard enthusiasts of the now defunct manufacturer, through to trying to get buy in from an existing workforce accept a new direction. Perhaps the biggest obstacle being that it can be difficult to shake off any previous assumptions or negativity associated with an existing brand. Perhaps a good example of this is an EV company, who by all accounts have a good-looking product being produced on a proven production line, that launched using a previous brand with not exactly a glowing reputation. There are enough doubters without giving them ammunition. So when starting your company, getting everything right from the beginning is vital, from the name, product proposition and brand identity. Be great to hear from entrepreneurs and founders of start ups their experiences. #drivenbydesign® #TheDriveway™ #automotivedesign #nichevehicles #startupstrategies #enterpreneurs #zenos #cardesigners #cardesign

You put the value of your brand on your balance sheet, right? How about using it to create disruptive growth? 📈 🦄 💰 Buckle up for Brand Ventures! Shane Ginsberg

You're either on team Virch Merch, or you're contributing to the problem. Greater access to merch for all fans, while increasing artist revenue, is our mission. We don't take merch cuts, and we don't exploit your fans. We've used technology to build a platform that works for everyone and fixes a broken model. Let's create the future we all want... #nomorelines #musicbusiness #musicindustry #startup #startupjourney #merchandising