New ideas often seem foolish at first, before the eventually become commonplace
In fact, in 1965, running wasn’t even a sport. It wasn’t popular, it wasn’t unpopular — it just was. To go out for a three-mile run was something weirdos did, presumably to burn off manic energy.
Running for pleasure, running for exercise, running for endorphins, running to live better and longer — these things were unheard of.
People often went out of their way to mock runners. Drivers would slow down and honk their horns. “Get a horse!” they’d yell, throwing a beer or soda at the runner’s head. Johnson had been drenched by many a Pepsi. He wanted to change all this. He wanted to help all the oppressed runners of the world, to bring them into the light, enfold them in a community.
The last 10% is 90% of the work
[Many people] think it means accept failure with dignity and move on. The better, more subtle interpretation is that failure is a manifestation of learning and exploration. If you aren’t experiencing failure, then you are making a far worse mistake: You are being driven by the desire to avoid it. And, for leaders especially, this strategy — trying to avoid failure by out-thinking it — dooms you to fail.
Differentiation between products is driven by the activities of the firm: product design, product performance, quality, branding, advertising, distribution, and so on. The more a product is differentiated along a dimension consumers care about, the higher price premium it can demand. So, Starbucks can charge $3.50 for a cappuccino, Hermès can charge $10,000 for a Birkin bag, and they can do so largely irrespective of input costs.
A company shouldn’t get addicted to being shiny, because shiny doesn’t last.
Any goal can be pursued in a variety of ways. It is the job of strategy to choose the most effective course of action for attaining objectives.