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 Harley-Davidson and their gritty journey from shed to iconic empire.

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Harley-Davidson's story is one of grit, near-death experiences, and an unlikely comeback.

It started in a shed. In 1903, William Harley and Arthur Davidson built their first motorcycle in Milwaukee. They were young, ambitious, and had no idea what they were getting into.

"We just wanted to make our bicycles go faster," Davidson later recalled.

Their early bikes were basically motorized bicycles. Crude. Unreliable. But they kept at it. By 1920, Harley-Davidson was the largest motorcycle manufacturer in the world.

Then came the Great Depression. Sales plummeted. The company nearly went bankrupt. But they survived - barely.

World War II brought a surge in military orders. Harley thrived again. But peace brought new challenges. Japanese competitors flooded the market with cheaper, more reliable bikes.

By the 1970s, Harley was in trouble. Quality issues. Financial problems. AMF, the company that bought Harley in 1969, seemed more interested in cutting costs than building great motorcycles.

"We were making junk," admitted Willie G. Davidson, grandson of the founder.

In 1981, a group of executives bought the company back from AMF. It was now or never.

They focused on quality. On building bikes people actually wanted to ride. On rekindling that Harley mystique.

It worked. Sales grew. The waiting list for new bikes stretched for months.

But success brought new problems. In 1984, Harley was hours away from bankruptcy. Again. This time it was a cash flow crisis. At the last minute, they secured new financing.

Close call.

The company went public in 1986. The stock soared. Harley was back.

"We don't just sell motorcycles," said CEO Richard Teerlink. "We sell a lifestyle."

That lifestyle - freedom, rebellion, Americana - resonated. Harley became an iconic brand. Sales kept growing.

By the late 1990s, Harley was selling over 200,000 bikes a year. Profits hit $435 million in 2000.

But challenges remained. An aging customer base. Increased competition. The 2008 financial crisis hit hard.

Harley adapted. They launched new models aimed at younger riders. Expanded internationally. Invested in electric motorcycles.

"We have to evolve," said CEO Matt Levatich in 2019. "But we'll never forget who we are."

Today, Harley remains America's largest motorcycle manufacturer. Revenue topped $5 billion in 2025. Not bad for a company that started in a shed.

It hasn't been an easy ride. Harley's faced bankruptcy multiple times. Made plenty of mistakes. But they've always found a way to keep moving forward.

As Arthur Davidson put it: "Whenever you get in over your head, just stand up and start walking."

Words to ride by.

Lesson 1: Make your brand a lifestyle. Harley doesn't sell motorcycles. They sell freedom. Adventure. Rebellion. As Benson P. Shapiro, a Harvard Business School professor, noted: "Harley reflects many things Americans dream about. They're a little bit naughty, a little bit nice, which is a very attractive brand image to have."

Lesson 2: Use conflict to your advantage. Harley understood that communities need an "out-group" to define themselves against. They didn't shy away from the "us vs. them" mentality. This created stronger bonds among Harley owners. As one marketing expert noted, "Communities are inherently political: 'In-groups' need 'out-groups' against which to define themselves."

Lesson 3: Don't chase trends. In the 1970s, when Japanese manufacturers were flooding the market with smaller, more efficient bikes, Harley stuck to its guns. They kept making big, heavy motorcycles. It nearly bankrupted them. But it also preserved their identity. "We don't do trend bikes, or fashion-statement motorcycles," said Brian Nelson, a lead stylist at Harley. "We try to make something that will last forever."

Lesson 4: Embrace your flaws. Harley-Davidson's early motorcycles were loud, vibrated a lot, and leaked oil. Instead of fixing these issues, they turned them into selling points. The company's slogan in the 1980s was "The Eagle Soars Alone." They knew their bikes weren't perfect. But they were different. And that's what mattered. As Willie G. Davidson, grandson of the founder, put it: "We were making junk. But it was our junk."

Lesson 5: Embrace your critics. Harley has been criticized for being old-fashioned, loud, and inefficient. They've turned these criticisms into badges of honor. They're not for everyone. And that's the point. As CMO Mark-Hans Richer once said: "I would be really upset if you felt our strategy was about 'meeting the nicest people on a Harley' because I can tell you that ain't the strategy."

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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