From the course: Leadership Stories: 5-Minute Lessons in Leading People

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Build perseverance

Build perseverance

From the course: Leadership Stories: 5-Minute Lessons in Leading People

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Build perseverance

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- Procter & Gamble started making Pringles in 1971. And it was an instant success. By 1975 it was a household name. It had 15% market share and was selling 10 million cases a year. But a year later, sales dropped 20%. Enough to send any brand manager into panic mode. The following year, sales dropped another 10%. Now, that's probably when speculation started that the company would sell the brand. P&G wasn't used to those kind of steep sales declines, and certainly not two years in a row. Well, another year went by, and another 10% of sales vanished. Can you imagine how hard it must have been to get employees to want to take an assignment on Pringles? By 1979, the brand was in total free fall. Sales dropped over 30% that year, and we're now down to four million cases a year. That's a 60% decline in four years. That's when a line was drawn in the sand. P&G executives declared that they would either fix the brand or sell it in five years. So, over the next 18 months management put…

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