398 :: How Nike Lost Steph Curry: A Case Study of a Multi-Billion Dollar Mistake

The Construction Leadership Podcast with Bradley Hartmann

In episode 398, a 2016 ESPN article written by Ethan Sherwood Strauss has been converted into a vivid and engaging case study illustrating the laws of power, influence, persuasion, and value—including what to do and what not to do.

The case study examines Steph Curry's rise to fame and his disillusionment and feelings of disrespect from the leaders at Nike. His decision to sign with underdog Under Armour (UA) over Nike has redirected billions of dollars over the years—and will continue to do so as Curry will sign a lifetime deal with UA.

This episode reveals how Nike missed the shifting NBA trend away from back-to-the-basket offense and toward historic long range accuracy beyond the three-point line. The story also reveals one path toward developing trust through an unlikely source in character of Kent Bazemore, an undrafted 12th-man from Old Dominion University.

This case study involving Steph Curry, Nike, and Under Armour is a story about life: How to build trust, developing strong relationships, and adaptation to dynamic industry changes.

KeyTakeaways/Insights

•Delivering value first through helpfulness and persistence pays off over time.

•Documenting and challenging assumptions enables you to monitor trends and position yourself to gain advantages from industry shifts.

•Never underestimate the power of social proof ; allow others to promote your products and services

•Innovation can come from unexpected places if you're open-minded

•Market leadership can lead to complacency, causing undercapitalized underdogs to connect with rising stars

•Inattention to strong relationships increases your vulnerability to competitors

Chapters

0:00:00 Underutilized Strategy in Plain Sight: Curry and the 3-point line

0:05:24 Anatomy of a Trainwreck: Nike’s sales pitch to Curry

0:09:27 The Kent Bazemore Principle: Curiosity by proxy

0:13:03 Under Armour’s unconventional strategy

0:21:48 The Underdog Advantage

0:25:51 Nike defends

This episode is brought to you by The Simple Sales Pipeline® —the most efficient way to organize and value any construction sales rep's roster of customers and prospects in under 30 minutes once every 30 days.

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