In 2019 The Oakland Raiders have three long-term business assets:
- The Raider Nation brand is the proud label for fans all over the world.
- Coach John Gruden's brand was earned as a 10 year star on football commentary.
- A breathtaking new-age stadium being built in the heart of Las Vegas.
The Raider Nation is the rock-solid brand of a football team whose performance on the field has been poor for the past two decades. Perhaps this is the greatest business asset of this franchise. To have consumers [fans] who remain loyal through bad times is a brand asset that is somewhat comparable to that of Apple in those dark, dark days before Steve Jobs came back to breath life back into that iconic brand. Of course an NFL football team is not the equal of Apple but the parallels between what happen in Cupertino CA [Apple] and what is happening in Oakland CA [Raiders] are worth noting.
Coach John Gruden was signed up before the commencement of last NFL season as a long-term coach [10 years]. This long-term signing is such an important lesson for businesses when they are either a start-up or an established business that must reset key brand markers. Interestingly, Gruden's last coaching assignment was with The Raiders in Oakland which means he understands its long-term business culture. Recruiting a past leader for a business that must progress from being ordinary to being extraordinary is a brave move. And in this case it was seen as a highly contestable move [press reporting was brutal in opposition to this appointment]. Adding fuel to the fire for his most vocal critics Coach Gruden's first move was to clean house. He sold the two A+ on-field assets on the roster. The howls of protest from the press were blood curdling [he was damaging the brand they shrieked]. He traded these assets for new recruits [obtained through the draft] which was a huge risk. But when you have a poorly performing business you must take bold actions. This year The Raiders are already performing like a team that is on the move up the league ladder [current record is 5 wins and 4 losses]. Coach John Gruden has a brand that is on the rise too.
The new stadium for The Raiders in Las Vegas is beyond "state-of-the-art" and will be home to this Raiders franchise forever and ever and ever [perhaps?]. What is more certain is that this stadium will become a travel destination for Raiders fans, people who flock to Vegas to have fun, and NFL supporters around the world. The stadium is not completed yet it is already an icon brand. However this whole new stadium venture was strongly opposed in the media for years before the first sod was turned to start the build [this happens in business circles too: even to brands that become icons in the long-term].
The long-term view in business today lasts an hour, a day, a week, a month, or at a stretch a year. However. Brands succeed when they last for decades not moments. The Raiders have three long-term brands that serve as an empirical lesson to all businesses around the world.
Richard
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