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Good morning to all new and old readers! Here is your Saturday edition of Faster Than Normal, exploring the stories, ideas, and frameworks of the world’s most prolific people and companies—and how you can apply them to build businesses, wealth, and the most important asset of all: yourself. 

Today, we’re covering Lego and their journey from humble beginnings to becoming a global symbol of creativity and play.

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What you’ll learn:

• How LEGO became the world's largest toy company

• Lessons on power of play, building for generations, and listening to your fans

Cheers,

Alex

P.S. Send me feedback on how we can improve. We want to be worthy of your time. I respond to every email.

The LEGO Story: Building Success Brick by Brick

In a small Danish town in 1932, Ole Kirk Christiansen was struggling. He was a carpenter with dwindling work and four young sons to feed. His wife had died, leaving him a single father. Times were tough.

Ole decided to pivot. He started making wooden toys. It wasn't an instant success. He barely made ends meet. But he persevered, driven by a simple philosophy: "Only the best is good enough."

In 1934, he named his company LEGO, from the Danish "leg godt" meaning "play well." It was an auspicious choice. Little did Ole know that his company would one day become synonymous with play itself.

The spark came in 1947. Ole saw potential in plastic toys. He bought Denmark's first plastic injection molding machine. It was expensive and risky. Many thought he was crazy. "Wood is the material of the future," they said. Ole disagreed.

LEGO's first plastic toy was a rattle. It wasn't a hit. But in 1949, they produced the "Automatic Binding Bricks." These were the precursors to the LEGO bricks we know today. 

The early years were hard. In 1960, a fire destroyed LEGO's wooden toy warehouse. Ole's son Godtfred decided to focus entirely on plastic toys. It was a bold move that would define LEGO's future.

The turning point came in 1958. Godtfred patented the LEGO brick design we know today. The bricks could be locked together, yet easily separated. This simple innovation opened up endless possibilities.

"Our idea has been to create a toy that prepares the child for life, appealing to its imagination and developing the creative urge and joy of creation that are the driving force in every human being," Godtfred said.

LEGO began to grow rapidly. By 1968, the first LEGOLAND park opened in Billund. LEGO was becoming a global phenomenon.

But success brought challenges. In the 1990s, LEGO faced a major crisis. Video games were on the rise. LEGO's sales were falling. By 2004, the company was close to bankruptcy.

LEGO's leadership had to make tough decisions. They refocused on their core product: the brick. They cut costs and streamlined operations. They embraced digital technology, creating video games and movies that complemented their physical toys.

"We have to continue to be relevant to children," said Jørgen Vig Knudstorp, who became CEO in 2004. "We have to continue to bring new play experiences to them."

The strategy worked. LEGO rebounded spectacularly. By 2015, it had become the world's largest toy company by revenue. In 2021, LEGO reported revenue of DKK 55.3 billion (about $8.1 billion).

Today, LEGO is more than just a toy company. It's a global brand that spans movies, video games, and theme parks. But at its core, it remains true to Ole's original vision.

"The brick is our DNA," says current CEO Niels B. Christiansen. "It's the foundation of the LEGO idea. We believe in the value of learning through play."

From a small carpenter's workshop to a global empire, LEGO has shown that with imagination and determination, you can build anything.

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Lessons

Lesson 1: Don't fear the fire. When LEGO faced near-bankruptcy in 2004, they didn't shy away from drastic changes. You might think a 70-year-old company would be set in its ways. But LEGO proved that even established businesses can pivot. They cut their product line by 30% and laid off 1,000 employees. It was painful, but necessary. As Jørgen Vig Knudstorp, then-CEO, said, "We're on a burning platform. We're running out of cash... [and] likely won't survive." This brutal honesty sparked a turnaround. By 2005, LEGO had rebounded from a $292 million loss to a $117 million profit. Sometimes, you need to embrace the crisis to forge a new path.

Lesson 2: Listen to your adult fans. LEGO didn't just focus on kids. They tapped into a goldmine: Adult Fans of LEGO (AFOLs). You might think toys are just for children, but LEGO proved otherwise. They created the LEGO Ideas platform, where adult fans could submit and vote on new product ideas. This led to successful sets like the Beatles Yellow Submarine and NASA's Women of Space. As David Gram, head of LEGO's Future Lab, admitted, "When we started up our crowdsourcing site, there was complete resistance in the company. Nobody wanted an external platform." But by embracing their adult fans, LEGO opened up new markets and sources of innovation.

Lesson 3: Build for generations, not quarters. LEGO bricks from the 1950s still fit with those made today. You might think planned obsolescence is smart business, but LEGO proves longevity can be a competitive advantage. Tim Brooks, LEGO's VP of Environmental Responsibility, says, "Our products have always been designed to last several generations." This commitment to quality builds trust and nostalgia, turning customers into lifelong fans. It's a long-term strategy that's paid off.

Lesson 4: Never underestimate the power of play. In a world obsessed with digital entertainment, LEGO bet on physical play. You might think plastic bricks couldn't compete with video games, but LEGO proved otherwise. They understood that play isn't just about entertainment. It's about learning, creativity, and personal growth. As Ole Kirk Kristiansen, LEGO's founder, said, "Our idea has been to create a toy that prepares the child for life, appealing to its imagination and developing the creative urge and joy of creation that are the driving force in every human being." This philosophy has kept LEGO relevant for decades, even as technology has transformed the toy industry.

Lesson 5: Innovation doesn't mean abandoning your core product. LEGO's success comes from innovating around their core product, not replacing it. Kjeld Kirk Kristiansen, grandson of LEGO's founder, said: "The brick is our DNA. It's the foundation of the LEGO idea." LEGO has expanded into video games, movies, and robotics, but always with the brick at the center. This approach allows them to stay relevant without losing their identity.

Further Readings

• The LEGO Group history

• The beginning of the LEGO Group

• The History of Lego: Constructing Creativity

• LEGO Company Profile

• Tormod Askildsen: One Last Chat with LEGO's AFOL Advocate

• LEGO reveals the challenges overcome in sustainable packaging transition

That’s all for today, folks. As always, please give me your feedback. Which section is your favourite? What do you want to see more or less of? Other suggestions? Please let me know.

Have a wonderful rest of week, all.

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