Learn to say no to a quick buck
The CEO of LA Gear grew his company from $11 million to $820 million in sales in just four years by focusing on unique, fashionable shoes that were expertly marketed. But chasing three high-dollar opportunities killed the company. LA Gear sold excess product at deep discounts which diminished the brand, invested heavily outside of their core competency in basketball shoes, and offered low-end shoes at Wal-Mart. The CEO couldn't stop chasing money, and the company paid the price for it.
The ability to say "no" to what looks like a lucrative opportunity is one of the most important traits a leader can possess.
* Bing: LA Gear makes a comeback
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The one luxury that I would pay extra for when looking for a home:
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- An indoor swimming pool or hot tub
- Heated bathroom floors (no more cold feet!)
- A heated driveway … No more shovelling!
- A home cinema room
April 23 (Bloomberg) -- Rosenblatt Securities Analyst Brian Blair discusses Apple's second-quarter earnings and buyback program with Julie Hyman on Bl... More April 23 (Bloomberg) -- Rosenblatt Securities Analyst Brian Blair discusses Apple's second-quarter earnings and buyback program with Julie Hyman on Bloomberg Television's "Street Smart." (Source: Bloomberg)
Date 8 hrs ago, Duration 2:48, Views 196