Really solid radio interview with University of Maryland student entrepreneur Kevin Plank (CEO and founder of Under Armour). Some funny stuff because its ESPN, including “We really hate the guys out West.” But, Plank talks a lot competition and has some important messages about focus in the early days of a company’s existence. He stresses the focus in the original niche and not expanding too quickly. This is a very crucial point we make in working with young entrepreneurs who often think about mass markets before really achieving strong product market fit. I refer to this as the Amazon principle — early amazon made their name and earned customers through book sales and proved their platform for e-commerce. This early work and focus laid a strong base and value proposition that the complex corporation we see today exploits. Plank speaks about spending 5 years working on a shirt (the first five years of Under Armour’s existence) as crucial to the companies long term strength (well before women’s, shoes, uniforms, hunting, etc). Again, great interview for consumers and entrepreneurs alike.
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