Results for “Joe Foster”

As an entrepreneur you have to know your market. You shouldn't take too much advice, and you need to believe in your own ability and be ready to tackle problems. You also have to be prepared for the fact that it may not work!

Many people say that if you're the brightest person in the room, you're in the wrong room – that's totally right. You need to bring in people with much more expertise than you to take the business forward. I started out making shoes by hand – I'm a shoemaker, not an intellectual.

As a founder, you're not God. You're a mere piece of the puzzle. To have a company grow, it has to have a lot of people and those people need to feel ownership. You need a winning culture to keep people driving forward. It's not just about loving each other's company, it's about winning together.

I went to collect my prize… it was an American dictionary! Well…when we were looking for a name, I picked up this dictionary and started to flick through. I remember the letter 'R' felt like a good, strong letter and I was flicking through I got to the word R-E-E-B-O-K – a small African gazelle! Well, that felt like us!

Jeff and I tried our best but all our father could say is, 'when I'm gone, the business is yours…' – number 1, we didn't want our Dad to go.. and number 2, it was clear the business would be gone before he was. The business was dying.

I'd never even heard the word 'entrepreneur' growing up – I didn't know what that meant. If I go back to my grandfather – he was the real entrepreneur. He developed things… he made spiked running shoes when he was only 15 (in 1895!). My grandfather died in 1933, I was born in 1935 and my grandmother insisted I brought his name with me – so I became the next Joe Foster.

I realised that athletes were my customers- they were the people I wanted to sell too. We wrote to them with a 15% discount offer, and the chance to become an agent to help fund their club. I must have got 200 agents signed-up and the business started to grow.

When I came back, it didn't take me and my brother long to see that this was a failing business. It had been making the same product since the 1930s. The business was dying.