Tony Hawk's worst business mistakes

TL;DR

Skating legend shares insights on innovation in skating and business, emphasizing the importance of continuous improvement and learning from past mistakes.

Transcript

so a lot of people who are watching this show you know they have start-ups their small business owners they're entrepreneurs top tips about innovation you know it's you started to innovate with different moves we the first one to do the 900 yeah I talked to us about that how do you innovate and then maybe kind of talk to us about how then you start... Read More

Key Insights

• 👶 Continuous improvement and learning new skills are essential in both skating and business.
• 🍉 Maintaining control over brand representation and quality standards is crucial for long-term success.
• 🥺 Trusting one's instincts and being patient can lead to greater financial success in the long run.
• 👶 Success in one area does not guarantee continued success, so it is essential to keep progressing and seeking new opportunities.
• 😤 Building a team or having legal representation can be helpful in managing business deals but should always be aligned with one's instincts and goals.
• ❓ Recognizing mistakes and learning from them is crucial for personal and professional growth.
• ❓ The interviewee's success was not solely dependent on his talent but also on his ability to innovate and make strategic decisions.

Questions & Answers

Q: How did the interviewee approach innovation in both skating and business?

The interviewee's drive to learn new tricks and make something for the first time fueled his innovation in skating, and he applied the same attitude to his business endeavors, always seeking improvement and new opportunities.

Q: How did the interviewee deal with the sudden success he achieved in the late 80s?

The interviewee admits to making mistakes during that time by not protecting his brand and allowing others to produce low-quality products using his name. He learned the importance of maintaining control and quality standards.

Q: Did the interviewee have a team or lawyers to manage his business deals?

While the interviewee had an agent initially, their role was limited to negotiating deals. Eventually, the agent started working more closely with the interviewee, but there was always a struggle between the interviewee's instincts and the agent's desires.

Q: What lesson did the interviewee learn regarding a significant offer he received for his video game?

The interviewee demonstrates the importance of trusting his instincts by turning down a lucrative upfront payment for the video game's future royalties. He believed in the potential success of the game and ultimately earned much more money than the initial offer.

Summary & Key Takeaways

• The interviewee discusses the importance of innovation in both skating and business, highlighting the need to continually challenge oneself and learn new skills.

• He shares his experience of working on a video game for over two years, emphasizing the importance of lending expertise and resources to create something that represents the sport well.

• The interviewee reflects on the wave of success he experienced in the late 80s and the mistakes he made by allowing others to use his name without proper approval, learning the importance of maintaining control over brand representation.