"> "/> "/>


Keep up-to-date with Gulf Coast Business Credit

Other News

Simple Success Solutions: The Lego Group - Focus on Your Core Product

Simple Success Solutions: The Lego Group - Focus on Your Core Product

What does it take to be successful? Gulf Coast Business Credit (GCBC)’s "Simple Success Solutions" is a series which examines entrepreneurial and startup success stories. This week’s tip is to focus on your core product, as The Lego Group does.

If you have children, you will most likely own Legos at one point or you currently have them scattered across your home. Legos were first introduced to us back in 1932 by a master carpenter in Denmark. As of September 2014, the company became the world’s largest toy maker. How did they achieve that? They simply focused on their core product, the LEGO® brick.

Their mission is to engage in the development of children’s creativity and to inspire and develop the builders of tomorrow. The LEGO® brick does just that. Children of all ages can combine and dismantle the LEGO ® brick a number of ways resulting in structured creativity and an understanding of the logic behind various engineering methods. The Lego group not only engages children’s creativity but looks to children for inspiration. Recently, The Lego Group had 669 children build their version of a more sustainable future using LEGO ® bricks. This event was held in order to help encourage the discussion of sustainability issues currently facing the planet.

Another key factor that encourages parents to continue to purchase Legos is their commitment to uphold the strictest safety and quality standards. By fully understanding their core product’s target market, they are able to create a sense of loyalty from generations of parents.

Although The Lego Group offers a number of products including web and video games, all of these products stem from their core product. So a key lesson to learn from The Lego Group is to focus on a core product and that sometimes diversifying your products is not always the key to success.

Gulf Coast Business Credit has helped a variety of startup businesses by supplying accounts receivable factoring to increase their cash flow.  With an increased cash flow, businesses can focus on growing rather than being held captive by slow-paying customers. To learn more about GCBC, please visit www.gulfcoastbc.com, call 866-577-8867 or email gcbcinfo@gulfbank.com.

Please like GCBC on Facebook by clicking the following link and we will keep you up to date on current events: Gulf Coast Business Credit Facebook Page. Please connect with GCBC on LinkedIn by clicking the following link: Gulf Coast Business Credit LinkedIn Page.

Facts in this article were supplied from www.lego.com.

Get a Quick
Quote Now