Listen to the audio of this summary with a free reading.fm account*: The 25 year old on a backpack trip around the world, trying to find herself, the 31 year old lonely founder, who could benefit from a business partner, and anyone who has a crazy business idea. Today, Nike is a household name in sportswear. But now that we know a little moreabout what a BHAG is, its time to take a closer look at Phil Knights very own personal BHAG. 28 October 2016 In the book, Shoe Dog, Phil Knight informs the reader about his experience with creating Blue Ribbon, and ultimately what later became Nike. Shoe Dog [2] is a memoir by Nike co-founder Phil Knight. Food, Shoe Dog Summary (5 Minutes): 20 Lessons Learned & PDF Download, 9 Conclusions of INFP and ISFP Relationship Compatibility Male & Female, How to Read Literature Like a Professor Summary (5 Minutes): 20 Lessons, Made to Stick Summary (5 Minutes): 20 Lessons Learned & PDF file, Start With Why Summary (5 Minutes): 20 Lessons Learned & PDF, 9 Truths About INTP vs ENTJ Relationship Compatibility Male & Female, How to Find Trustworthy Cash for Junk Car Buyers, 6 Reasons Why Every Workplace Should Have A Christmas Party, 8 Highest Paying Jobs Without a Degree in USA, Social Networks Impact on Education in the Contemporary Day, Types of Insurance Policies and Coverage You Need, 3 Telehealth Industry Trends To Keep An Eye On, History is one long processional of crazy ideas., The single easiest way to find out how you feel about someone. Phil doesnt want to pay anything, even though they need to resolve this to go public, and they need to go public to survive. Knight was inspired by the fact that his shoes would be Japanese-made. Like many entrepreneurs, Knight started by solving his own problemwanting high-quality, low-cost running shoes. Phil strongly requests two employees, Woodell and Johnson, to trade roles and locations, transferring between Boston and Oregon. Having his mentor now as a partner andseeing that he too believed in Phils idea was one of the things that gave Phil the confidence to create the company exactly as he saw fit and thats what made it the honest, hard-working, caring brand we know today. He lies that Nike isnt currently yet in stores. Phil was in the US Army for a year. He was surrounded by superstars in all areas and specialties which allowed him to make excellent shoes and create fantastic ad campaigns. There are few brands as recognizable as Nike. They did not tell people how to do things, they would tell them what to do, and trust them to get it done. Johnson hit his target and Buck allowed him to open a Blue Ribbon . Throughout the book, he advises readers to follow a calling rather than settling for a job. . Soon the image of Buster Brown and his dog were appearing inside each pair of . #8 Improve where improvements can be made. He saw the rise in popularity of Japanese cars and wondered if the same could be done with athletic footwear. Iowas head coach calls, angry that Nike had incorrectly claimed a partnership that didn't existbut then asks to sign with Nike too. The first year, Phil sold the shoes out of the trunk of his car, a green Plymouth Valiant. But they also have something else in common: a simple acronym. (Shortform note: Just take a minute to remember that business used to be done entirely through phone and letters, not email). Knight faced challenges acquiring funding, landing orders on time, and difficulties with manufacturers throughout the early days and pushed through to find the accomplishment that Nike has today. Converse (/ k n v r s /) is an American lifestyle brand that markets, distributes, and licenses footwear, apparel, and accessories.Founded in 1908 as the Converse Rubber Shoe Company, it has been acquired by several companies before becoming a subsidiary of Nike, Inc. in 2003.. Converse initially produced winterized rubber-soled shoes and boots. Cant think of any reason for anyone not to read this, especially if you like stories about Richard Branson, youll love this. I read Shortform nearly every day. Moreover, Phil used to sell shoes from the trunk of his car. Shoe Dog primarily recounts the events from 1962, the year Knight traveled around the world as a young man, to 1980, the year Nike went public and Knight became a multimillionaire. In 1964 Knight began selling Onitsuka shoes in earnest throughout the West Coast. Knight demonstrates very well in Shoe Dog that storytelling is a powerful tool. 5. The years in between are comprised of the struggles and challenges Knight faced as he worked to build the company that would ultimately be known worldwide as Nike. Having this information, and fully understanding it gives you the tools you need to create products, marketing, and branding that resonate with those intended to experience it. Just a few months later, their fledgling company sold out of their shoes and ordered another shipment of 300 shoes. However, until now, much of the companys history, many early decisions and a lot of Phils personal life hadnt been well-covered publicly at all. Please share these important lessons by pinning this post to Pinterest. Over the years Blue Ribbon grew into a thriving company. Lifers used the phrase cheerfully to describe other lifers, men and women who had toiled so long and hard in the shoe trade, they thought and talked about nothing else. In 2006, Phil steps down as Nike CEO. This record of the early years (1962-1980) of the shoe empire takes us on a journey of the ups and downs of one of the most. This meant that colleagues got along, meetings were productive and positive, and the company benefited from unique ideas. Perfection is unattainable but customers will trust you if you do a good enough job and consistently get your products to them on time. The store manager Read on the go with our iOS and Android App. He even built a shoe with fish skin instead of leather once! They also become an official executive distributor for the Japanese company Onitsuka, quickly selling out of their shoes and ordering (read more from the Part 1, 1964 - 1966 Summary). Business Its absolutely vital to connect with people who share your vision for your company and who can help you put your mission into action. The shoe would go on to be called the Nike Waffle Racer and was first handed out to athletes at US track events. So Knight was shocked when Bowerman said he not only liked the shoes, but he also wanted to be a part of the business. Shoe Dog A Memoir by the Creator of Nike By Phil Knight Trade Paperback LIST PRICE $20.00 PRICE MAY VARY BY RETAILER Get a FREE ebook by joining our mailing list today! Phil Knight opens up in ways few CEOs are willing to do.[5], In July 2018, Netflix announced a biopic adaptation, written by Ed Wood writers Scott Alexander and Larry Karaszewski and produced by Knight and 5-time Oscar nominee Frank Marshall.[6]. Kitami travels to Blue Ribbons Los Angeles store to inspect. Through it all, Knight told himself to never stop. The result of his perseverance is Nike, a multibillion-dollar brand worn by many of the worlds best athletes and recognized across the globe. So far from being passive on the side lines, just do it is active and invigorating. Here are 414 short inspirational quotes . Small businesses got their startup cash from banks, but banks had very different priorities from todays venture capital firms. It also highlights certain parts of Phil Knight's life. Look beyond the money: Be driven by the urge to accomplish the impossible, not by profit. But Phil had a theory that if American athletes discovered how cool the Japanese Tiger shoes were, you could create a market for Japanese sportswear in America. They accepted Knights proposal and asked for the name of his company. The 1-page summary and then the longer, complete version are so useful. After Nike continues its inexorable climb upward. As mantras go, just do it is pretty electric and empowering. Phil is grateful, and he cant help feeling the universe has been guiding him, nudging him through success. Plus, receive recommendations and exclusive offers on all of your favorite books and authors from Simon & Schuster. Their investors, the debenture holders, are shocked, even though Nike is gaining national traction. It describes the history of the Nike sports company from its early roots to its success is one of the most profitable and recognizable companies in the world. Shoe Dog Summary 1966-1967 1966 Blue Ribbon's first salesman, Johnson has a personality quirk - he sends Phil mountains of letters, detailing his every development, every sale and notable customer. Like all lucrative business owners, Knight understands the importance of knowing who Nikes audience was. Whats your major takeaway from how Phil Knight built Nike? 6 Months and Older: By the time, your puppy is about six months old or so, all of his puppy teeth should have fallen out, and his adult teeth should have grown in. #14 Have a Galvanizing Higher Purpose Your brand cannot clearly be just a push for money. Phil describes his father as obsessed with respectability and grounding in traditional values, and wandering the earth seemed the antithesis of this. Lebron James gives Phil a Rolex from 1972, engraved with Thanks for taking a chance on me. Michael Jordan reserves a front-row seat for Phil at his fathers funeral. He pitched his idea to a Japanese shoe manufacturer, Onitsuka, whose shoes he liked. He quits and takes up a teaching position at Portland State University, paying $700 a month. #12 Be a Storyteller Many of Nikes most famous ad campaigns and marketing victories have come from an emphasis on storytelling. His traveling ambitions have a spiritual air, longing to understand how the Chinese and Buddhists and Greeks and Christians have thought about life for millennia. And, to be honest, it was pretty big, hairy, and audacious for who Phil was at the time! 4. Get amentor and partner on board, who will believe in you and complement your skills. Phil knew that and so he developed a more creative hiring process that was sure to connect him with the right people. #11 Luck Played a Big Role While much of the story focuses on the hard work and ingenuity that Knight and others brought to the table at Nike, he also acknowledges that luck played a huge role in his overall success. But that wasnt his only strategy for boosting morale. (Shortform note: Knight admits that he started his company by lying about having a company. Nike co-founder Phil Knight urges young people and entrepreneurs to follow a calling, even if their idea seems crazy. But Shoe Dog starts you over 50 years ago in 1962, when Phil Knight is 24 years old, has just earned an MBA from Stanford, and doesn't know what to do with his life. Blue Ribbons first salesman, Johnson has a personality quirk he sends Phil mountains of letters, detailing his every development, every sale and notable customer. If the answers to these questions trend toward the affirmative, you may have a potential BHAG. Kentons guide does an admirable job of helping us identify a BHAG and it also provides a solid map for developing one for yourself. Whats Nike? he asks. Here are 3 lessons from Phil Knights life about how he built Nike, the most valuable sports brand in the world: Have a crazy idea for a business to start? Phil responds that its a backup in case Onitsuka cuts ties with Blue Ribbon. So he has a backup plan an inside man at Onitsuka who can keep tabs on Kitami. Knight wants people to be passionate about what they do, just as he was with selling running shoes. Your BHAG is supposed to be ambitious, as this will kick-start forward momentum. His accounting job at Price Waterhouse takes up 6 days a week, and Phil wants more time for Blue Ribbon than just weekends and late nights. It's a messy, perilous, and chaotic journey, riddled with mistakes, endless struggles, and sacrifice. quote from Shoe Dog: A Memoir by the Creator of NIKE. Phil often joked that he started off as Bowermans shoe guinea pig when he wore the first shoes that Bowerman designed. Instead, your brand needs to help people believe in a higher cause or idea and galvanize people to a higher purpose. A modern alternative to SparkNotes and CliffsNotes, SuperSummary offers high-quality study guides that feature detailed chapter summaries and analysis of major themes, characters, quotes, and essay topics. The Onitsuka shoes arrive! It motivates you to reject hesitation and embrace action. In 37 years, we've fit 3 million shoes, so you know you'll get the perfect fitting shoe. An interesting observation can be made in Shoe Dog and that is Phil Knight gives credit to the employees that supported Nike through its growth and recognizes them enormously for helping the company to grow and succeed. Read in: 4 minutes Favorite quote from the author: Table of Contents Video Summary Shoe Dog Summary Shoe Dog Review Audio Summary Nike stands as an emblem of success and athletic prowess; the cool kids were Nike and they're proud to show it off! Knight acknowledges that never give up is an overstated piece of advice. Director Screenwriters. #4 Knight Focused on Athlete Sponsorship Instead of traditional advertising, Knight focused more on signing different athletes to become spokespeople and icons for the brand. His customers love him, depending on Johnson to solve their problems in both running and life. Most importantly, Phil starts to doubt Kitamis sincerity from recent wires and letters. But theres no denying that luck is the ultimate determining factor for business success. With this popularity, Nike needs to find new manufacturers who can handle scale, and they finally turn to Taiwan. Theres one barrier: he needs money. Places What do the self-help and business industries both have in common? #7 Make a Great Team Knight describes that a lot of his success came from the excellence of his team. Knight has said in the past that if he had failed, he would have just tried again with more wisdom. This is the year they announce Nike at the National Sporting Goods Association Show in Chicago. They think theyre doomed, but people crowd around, asking questions and actually buying shoes. Kitamis trip ends with dinner at Bowermans house. They wanted new companies to get profitable quickly and to never let sales exceed their cash balance. But its finicky and requires an exacting stride to avoid injury. One morning while on a run, Phil Knight has a Crazy Idea. They sign dozens of college sports teams and legendary coaches. During World War II, it shifted . Instead of trying to force employees to conform to some stuffy idea of professionalism, Phil gave his staff the freedom to be themselves. But through his passion and enthusiasm, he was able to set up . Phils father even mentions how prominently Nikes are featured in a basketball game, and Phil feels that hes finally earning his fathers respect and pride (a longstanding chip on Phils shoulder). In Built to Last, Collins and Porras argue that BHAGs typically take 10 to 30 years to achieve and have a 50 to 70 percent chance of success. Just one late payment to Blue Ribbon, and the whole tower might crumble. That acronym stands for big hairy audacious goal and entrepreneurs and self-help authors believe that everybody should have one. Every morning after work, he ran home seven miles. Phil always wanted to let people be themselves. 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