Running with Purpose … how Jim Weber transformed the Brooks Running Company, and persuaded Warren Buffett to buy the business … and wrote a book about it
September 24, 2022
Jim Weber joined Brooks Running Company as CEO in 2001 and is credited for the Seattle-based running company’s aggressive turnaround story. The business and brand success caught the attention of Warren Buffett, who acquired Brooks and made it a subsidiary company of Berkshire Hathaway in 2012.
Weber’s new book Running with Purpose is about the story of Brooks’ transformation.
Brooks was founded in 1914, and originally manufactured shoes for a broad range of sports. “White hot” in the mid-70s, the company faltered in the latter part of the decade, and filed for bankruptcy protection in 1981.
In 2001, Weber joined the company as CEO. The product line was cut by more than 50% to focus the brand solely on running, and its concentration on performance technology was increased. Brooks Running became the top selling brand in the specialty running shoe market in 2011, and continues to hold around 20% of the USA running shoe market.
Weber’s book is summarised on the back cover with this … “Discover Brooks’ extraordinary challenger brand story as it went from near bankruptcy to finding its purpose and running to the front of the pack in the highly competitive global running market. Brooks is a turnaround tale for the ages on how a brand was re-founded and a passionate, determined team fueled its growth with performance gear and celebrating every runner’s run.”
The book brings together insider insights and inspirational stories for leaders, entrepreneurs, brand builders, “and especially the 150+ million runners worldwide who continually invest in themselves and put positive energy into the world”.
It starts with Jim Weber’s seventh-grade dream to run a successful company that delivered something people passionately valued. Fast forward to 2001, Jim became the CEO of Brooks and, as the struggling brand’s fourth CEO in two years, he faced strong headwinds.
A lifelong competitor, Jim devised a one-page strategy that he believed would not only save the company but would also lay the foundation for Brooks to become a leading brand in the athletic, fitness, and outdoor categories.
To succeed, he had to get his team to first believe it was possible and then employ the conviction, fortitude, and constancy of purpose to outperform larger brands. Brooks’ success was validated when Warren Buffett made it a standalone Berkshire Hathaway subsidiary in 2012. In the pages of Running with Purpose, you will find:
- Brooks’ bold strategy and unique brand positioning that fueled its move from the back of the pack to lead.
- The key to building a purpose-driven brand that is oriented around customer obsession, building trust, competing with heart, and having fun along the way.
- The six clear leadership lessons Jim has learned along his path and applies at Brooks to develop staff into authentic leaders.
- How Berkshire Hathaway’s support and influence provided a tailwind for Brooks’ business and brand to surge.
- An inside look at the ups and downs of Jim’s personal journey, which led to his conviction that life is too short not to enjoy what you do and the people by your side.
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