Seth Berger on Building a Company from the Ground Up
Episode Description
Seth Berger is founder and former CEO of AND 1, a company specializing in basketball shoes and apparel. Started by Berger and several classmates while they were students at Wharton in the early 1990s, AND 1's original product line featured t-shirts targeted at young basketball players; the company later expanded to offer a full line of apparel. Under Berger's leadership, revenues increased from $1 million in 1993 to more than $200 million in 2001. In 2005, Berger sold AND 1 to American Sporting Goods, a private footwear company based in Anaheim, Calif. Currently the head boys' varsity basketball coach at the Westtown School in Westtown, Pa., Berger spoke with Knowledge@Wharton about what it takes to build a successful company. đź“‚ Innovation
Brief Summary
Seth Berger discusses building And1, market opportunities, and entrepreneurship lessons from the athletic apparel industry.
Key points
- Seth Berger's Entrepreneurial Journey. Seth Berger shares insights on building a successful basketball apparel company.
- The Impact of Michael Jordan's Retirement. Seth discusses how Michael Jordan's retirement created a unique opportunity for his brand.
- The Importance of Knowing Your Consumer. Seth emphasizes understanding the target market for successful product development.
- The Future of Brand Marketing. Brands may start owning retailers to cut costs and increase profits.
- Nike's Dominance in Advertising. Nike's association with athletes overshadows competitors' sponsorships during the Olympics.
- Advice for Aspiring Entrepreneurs. Start your business right after graduation to avoid getting stuck in a corporate job.
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Episode highlights
- Seth Berger's Entrepreneurial JourneySeth Berger shares insights on building a successful basketball apparel company.“Success is all about seizing the right opportunity at the right time.”1:07Oct 1, 2008
- The Impact of Michael Jordan's RetirementSeth discusses how Michael Jordan's retirement created a unique opportunity for his brand.“If Mike hadn’t retired, you wouldn’t be interviewing me today.”5:21Oct 1, 2008
- The Importance of Knowing Your ConsumerSeth emphasizes understanding the target market for successful product development.“Our product was our biggest marketing.”7:05Oct 1, 2008
- The Future of Brand MarketingBrands may start owning retailers to cut costs and increase profits.“We’re gonna own a retailer so we can deliver a shoe for 60 bucks.”18:24Oct 1, 2008
- Nike's Dominance in AdvertisingNike's association with athletes overshadows competitors' sponsorships during the Olympics.“At the end of the day, kids don’t care who put the commercial on.”19:02Oct 1, 2008
- Advice for Aspiring EntrepreneursStart your business right after graduation to avoid getting stuck in a corporate job.“Start the day you graduate; you don’t need experience or money.”20:53Oct 1, 2008
