In 2004 LEGO was on the brink bankruptcy, 11 years later the business was turned around with reported revenue of $5.2 billion
How did they do it?
By redesigning their business model to stay as relevant to kids today as it was in the past.
They got rid of LEGO branded products and decided to focus solely on their core value propositions the LEGO Bricks.
They sold their four theme parks, as well as their video game development division.
Once more: “They focused solely on their core value propositions the LEGO Bricks.” – Business can be simple, focus first on what you know is good and creates real value – and then go big or stay home.