Swasdee ka, everyone. The Queen Mother's passing sure makes us all feel real sad na ka. On a little comforting note, I've been listening to HM's generosity, caring across countries, and tireless efforts for all. Feel so blessed we were born in this country ka.
Today, there's another thing I'd like to share after listening to the latest episode of How Leaders Lead by David Novak. His guest speaker is Lew Frankfort, Chairman Emeritus and former CEO of Coach....leather goods so popular in our country too na ka.
Learning kaa:
- Firm belief in kids is super encouraging.
Strong belief of Lew's mother enabled him to aim for college studies instead of the vocational track as advised by his guidance counselor at school (who missed to see Lew's potential).
- Building a brand needs one to see the gap.
In the case of Coach, Lew sees that there was no American leather goods brand that the middle income group could reach. So he chose to help build Coach into the market where there were only cheaper products and luxurious brands from abroad then.
Before deciding to work with Coach, his investigative mind (curiosity-led) turned him to act as a freelance reporter to cover news on emerging small brands. It was so cool to know that he went to one small shop in Manhattan to find that there was only one coach bag which was reserved and hidden behind the cash register. He learned then that Coach was in good demand and he went for an interview after that.
- Hire those who know best:
When AI is in the picture, Lew says he learns about it insufficiently and he has to look for younger, almost AI native to help him
- Love this question David Novak asks:
In my own words na ka: When you like some ideas from your competitors, how do you handle them?
Lew says, 'carefully'. He mentions that even with careful interpretation about the thinking and innovation behind the competitors' ideas, it didn't always sell. So, he came back to the very unique quality of Coach from its materials, stitches, and pockets ka.
- Fear of failure and drive for excellence lead him the way.... though he learns to use different leadership styles and nurture the appropriate culture...from family to performance family to performance culture.
Sanuk mak ka....ep#262 if you wish to listen and get some other key points ka.
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