Dr. Finance Live Podcast Episode 44 - Joe Foster Interview - Founder of Reebok - Author: Shoe Maker

(Originally aired 1/11/22): https://www.youtube.com/watch?v=HjEQspVU4ckShow more

This is Episode 44 of the Dr. Finance® Live Podcast hosted by Dr. Anthony M. Criniti IV (aka “Dr. Finance®”). Dr. Criniti interviewed Joe Foster, the author of Shoe Maker and the founder of the multi-billion dollar business Reebok.

Joseph William Foster (Joe Foster) was born in 1935 in Bolton, England with the same birthday 18th May, as his grandfather, also Joseph William Foster who had died 18 months earlier. Joe’s grandfather was the founder of J W Foster & Sons (Athletic Shoes) Ltd and the inventor of the Spiked Running Shoe and the Trainer (Sneaker). Joe and his late brother Jeff were born into the J W Foster & family business, but on their return after 2 years away from home on National Service, they asked questions. The year was 1955 and the brothers saw a business still rooted in the 1930’s. Their Father and Uncle were now operating the business and very much like another Sports Shoe company, spent more time feuding than collaborating. The result was that in 1958 Joe and Jeff left the Foster business to set up a new Sports Shoe company. The brothers founded Mercury Sports Footwear, which after 18 months they changed its name to REEBOK. Joe had been advised to protect their company’s name by registering it. By 1965, Joe was on his way to the NSGA (National Sporting Goods of America) Show in Chicago, which was the start of many Global adventures and experiences that after 15 years brought him together with Paul Fireman and later many Stars of film and television.

As the surviving Founder of Reebok, Joe still welcomes the opportunity to travel and recount those early stories from start-up to taking the company to a $4 billion business, overtaking Adidas & Nike to become the World’s No. 1 sports brand.

0:00​​​​​ - 37:02 - Podcast welcome and Joe Foster's story
37:03 - 46:32 - About Joe’s books; what made you want to write a book now? Phil Knight, Nike; Joe Foster personal branding: Joe: "Now, I have to sell Joe Foster"
46:33 - 56:43 - History of the shoe business and Reebok; relevancy of sports to humanity
56:44 - 1:06:06 - What is the process of making a shoe? Displaying a signed Reebok shoe by Lewis Hamilton
1:06:07 - 1:17:03 - What were the major events that led to the success of Reebok? Aerobics, Jane Fonda; Joe's retirement; ABG
1:17:04 - 1:22:01 - Should family members do business together? Jeff Foster (Joe's brother)
1:22:02 - 1:23:00 - Can 1 book change the world?
1:23:01 - 1:24:00 - What role has networking played in your life?
1:24:01 - 1:29:41 - Is mentoring important? Who are some of your mentors?
1:29:42 - 1:31:54 - What are your favorite financial books?
1:31:55 - 1:34:23 - Do we need money to survive? Bear Grylls
1:34:24 - 1:35:37 - Is finance necessary for everyone? Why or why not?
1:35:38 - 1:41:00 - How important is having a purpose in business? What is your purpose?
1:41:01 - 1:41:37 - What would you like to accomplish in the next 10 years or so? Why? maybe a movie
1:41:38 - 1:42:47 - What would you like to be your legacy to this world?
1:42:48 - 1:48:46 - How important is having a brand for a business? Joe: "People just love brands"; How did you come up with the name Reebok? South African gazelle (a deer)
1:48:47 - 1:51:17 - Wrap up thoughts and Outro

Dr. Anthony M. Criniti IV (aka “Dr. Finance®”) is the world's leading financial scientist and survivalist. A fifth generation native of Philadelphia, Dr. Criniti is a former finance professor at several universities, a former financial planner, an active investor in diverse marketplaces, an explorer, an international keynote speaker, and has traveled around the world studying various aspects of finance. He is an award winning author of three #1 international best-selling finance books: The Necessity of Finance (2013), The Most Important Lessons in Economics and Finance (2014), and The Survival of the Richest (2016). As a prolific writer, he also frequently contributes articles to Entrepreneur, Medium, and Thrive Global. Dr. Criniti has started a grassroots movement that is changing the way that we think about economics and finance.

For more information about Doctor Finance, please visit https://DrFinance.Info​​​​​

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