Arnold Hiatt was visiting Hong Kong in 1990 when he noticed a child wearing an unusual shoe. It closed with Velcro and had a loop on the back, allowing the child to pull it on easily.
Within months, Hiatt?s Massachusetts company, Stride Rite, produced a similar model. It caught on like wildfire.
Such a shoe had never been seen in the United States; now its features are standard on casual shoes.
Lesson: Watch and listen.
?When you?re constantly listening and observing,? Hiatt said, ?you develop an acuity that becomes a reflex. You?re not relying on your intuition but making as many decisions as you can based on reality rather than subjectivity.?
? Adapted from ?Arnold Hiatt Put a Swagger Into Stride Rite?s Step,? Marilyn Much, Investor?s Business Daily.
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