📉 LEGO's Big Problem

PROBLEM > SOLUTION > SUCCESS

📉💡📈 Most businesses play out this way. Let’s focus on the solution.💡

While I’ve never been a big LEGO customer, I think their pivot at the turn of the century was both fascinating and telling. And it makes me think and rethink my creativity and business strategy. It will for you, as well. Read on …

PROBLEM 📉

In 1998, LEGO was facing serious problems. They were losing money hand over fist, which was highly unusual for the Danish toy company. With a string of recent failures, it seemed certain they would go out of business.

Kjeld Kirk Kristiansen, the CEO and president at that time, knew they had to do something drastic to turn the tide. He realized that just selling the usual LEGO bricks wasn't enough anymore; they needed to add a story.

SOLUTION 💡

In 2001, Christian Faber, a former art director, helped create LEGO Bionicle, a new kind of LEGO set that looked radically different from their usual ones. Instead of regular LEGO figures, Bionicle had characters you could put together like action figures.

More importantly, each Bionicle set came with a story!

This story was told in books, video games, comic books, and animated movies. The toy commercials focused more on the story than the toy itself. The mix of storytelling and action figure-like quality caught fire and propelled the company to record profits.

SUCCESS 📈

Bionicle was a big risk for LEGO, but it worked. Kids and adults alike have enjoyed building with LEGO pieces and sets for nearly 100 years. But it was ultimately the storytelling, connected to the pieces, that saved LEGO from bankruptcy and turned it all around.

WHAT’S YOUR STORY? 🫵

Are you merely selling a product/service, or is there a compelling story behind it all? I’m guessing there is. Let me and our FWI creator community help you tell that story by joining our weekly calls and receiving valuable feedback, encouragement and support as you start, build and grow a business you love.

I believe there’s a story to be told … YOURS! #letsdothisthing 😤

WOULD YOU, COULD YOU?

Would you be willing to share this newsletter with someone in your life who could use some inspiration, encouragement and support as they build/grow their business? Thanks! 🥹

Have a blessed day, friends! ~ Brent