FINANCE EDUCATOR ASKS: Should Family Members Do Business Together?

For more information about Dr. Anthony M. Criniti IV (aka "Dr. Finance®") and his #books, please visit: https://drfinance.info/books or ask your local bookstore for a copy

This is a clip of Episode 44 of the Dr. Finance® Live Podcast hosted by Dr. Anthony M. Criniti IV (aka “Dr. Finance®”). Dr. Criniti interviewed Joe Foster, the author of Shoe Maker and the founder of the multi-billion dollar business Reebok.

Joseph William Foster (Joe Foster) was born in 1935 in Bolton, England with the same birthday 18th May, as his grandfather, also Joseph William Foster who had died 18 months earlier. Joe’s grandfather was the founder of J W Foster & Sons (Athletic Shoes) Ltd and the inventor of the Spiked Running Shoe and the Trainer (Sneaker). Joe and his late brother Jeff were born into the J W Foster & family business, but on their return after 2 years away from home on National Service, they asked questions. The year was 1955 and the brothers saw a business still rooted in the 1930’s. Their Father and Uncle were now operating the business and very much like another Sports Shoe company, spent more time feuding than collaborating. The result was that in 1958 Joe and Jeff left the Foster business to set up a new Sports Shoe company. The brothers founded Mercury Sports Footwear, which after 18 months they changed its name to REEBOK. Joe had been advised to protect their company’s name by registering it. By 1965, Joe was on his way to the NSGA (National Sporting Goods of America) Show in Chicago, which was the start of many Global adventures and experiences that after 15 years brought him together with Paul Fireman and later many Stars of film and television.

As the surviving Founder of Reebok, Joe still welcomes the opportunity to travel and recount those early stories from start-up to taking the company to a $4 billion business, overtaking Adidas & Nike to become the World’s No. 1 sports brand.

Dr. Anthony M. Criniti IV (aka “Dr. Finance®”) is the world's leading financial scientist and survivalist. A fifth generation native of Philadelphia, Dr. Criniti is a former finance professor at several universities, a former financial planner, an active investor in diverse marketplaces, an explorer, an international keynote speaker, and has traveled around the world studying various aspects of finance. He is an award winning author of three #1 international best-selling finance books: The Necessity of Finance (2013), The Most Important Lessons in Economics and Finance (2014), and The Survival of the Richest (2016). Dr. Criniti is also the host of the highly successful Dr. Finance® Live Podcast as well as one of the top hosts on Clubhouse. Dr. Criniti has started a grassroots movement that is changing the way that we think about economics and finance.

For more information about Doctor Finance, please visit https://DrFinance.Info.

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